House price increases. Is everyone absolutely loaded?

zagfles

lookstraightahead said:

BikingBud said:

1. HPI is great!
2. It can go on ad-infinitum!
3. There is no such thing as unaffordable housing just people that squander their money on frivolous things!
4. People can move anywhere to buy property!
5. We don't need people to live locally to deliver the lower paid jobs, shop workers, bus drivers, catering staff, NHS support staff etc! (see 3 above)
6. If you have a lower paid job just work harder!!

Just a few of the wonderful comment types you will get on here if you ever dare blaspheme and object to the state of housing prices.

Most people who buy at extortionate prices will be justifying their actions, those who don't buy justify theirs.

At present though, people are generally just bonkers. Panic buying. Home ownership has become so very overstated which is extremely sad. 

None of us own anything in life long term. It's good to have security if one form or another, but that doesn't have to be a house. It could be family, community, different types of investment, education etc.

I own but I did rent for a long time and it gave me lots of freedom. 

I would hate to think I had overpaid, have to stay somewhere, and be tied to the same walls in the same town for ever and ever.

All markets go through phases like that, it happened with housing in the late 80's and mid 2000's. Fear and greed, the driver of most markets. Average real terms house price still lower than in 2007 even after the recent panic buying.

[Deleted User]

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boxer234

MobileSaver said:

BikingBud said:

1. HPI is great!

It is for many people, I made £200k on the last property I sold.

BikingBud said:

     2. It can go on ad-infinitum!

The only people I've heard say that are the HPC crowd using it as a straw man argument; normal rational people knows that house prices can go up or down depending on supply and demand.

BikingBud said:

     3. There is no such thing as unaffordable housing just people that squander their money on frivolous things!

Of course there is unaffordable housing but there is also loads of affordable housing too.

BikingBud said:

     4. People can move anywhere to buy property!

They can't necessarily move anywhere but many people can certainly move to cheaper areas if the area they are currently in is too expensive.

BikingBud said:

     5. We don't need people to live locally to deliver the lower paid jobs, shop workers, bus drivers, catering staff, NHS support staff etc! (see 3 above)

Have you ever heard of "commuting"? It's what millions of people do every day and have done for decades, it seems to work well for most people.

You do not have to be Einstein to work out that it is physically impossible for everyone who wants to live in a certain area to actually be able to do so. We live in a market economy which means prices are determined by supply and demand and this in turn acts as a balance for who can live where, it's really not rocket science.

BikingBud said:

    6. If you have a lower paid job just work harder!!

What is your alternative?!?!

Do you think people in low paid jobs should just carry on stacking shelves at Tesco and somehow be entitled to buy that four bed house with big garden in that nice area? I'm sure you will be the first in the queue to offer some of your own money to help them fulfil their dreams, won't you?

Amazing how those stacking shelves we couldn’t do without during the pandemic.  I do think they are entitled to half decent housing.  What a patronising post. 

MobileSaver

boxer234 said:

MobileSaver said:

Do you think people in low paid jobs should just carry on stacking shelves at Tesco and somehow be entitled to buy that four bed house with big garden in that nice area?

Amazing how those stacking shelves we couldn’t do without during the pandemic.  I do think they are entitled to half decent housing.

Why don't you and @BikingBud start up a crowdfunding campaign to help "shop workers, bus drivers, catering staff" all get a "four bed house with big garden in that nice area"? How much will you personally donate to this worthy cause?

No-one should be entitled to buy any house, let alone a nice house in a nice area.

Is there anything else you think those stacking shelves should also be entitled to? What about a half-decent car? Surely we can't have them travelling around in an old rusty banger that might let them down one day? How much will you personally donate towards them buying a new BMW or would this be something else you want taxpayers to subsidise rather than you personally? 

zagfles

MobileSaver said:

boxer234 said:

MobileSaver said:

Do you think people in low paid jobs should just carry on stacking shelves at Tesco and somehow be entitled to buy that four bed house with big garden in that nice area?

Amazing how those stacking shelves we couldn’t do without during the pandemic.  I do think they are entitled to half decent housing.

Why don't you and @BikingBud start up a crowdfunding campaign to help "shop workers, bus drivers, catering staff" all get a "four bed house with big garden in that nice area"? How much will you personally donate to this worthy cause?

No-one should be entitled to buy any house, let alone a nice house in a nice area.

Is there anything else you think those stacking shelves should also be entitled to? What about a half-decent car? Surely we can't have them travelling around in an old rusty banger that might let them down one day? How much will you personally donate towards them buying a new BMW or would this be something else you want taxpayers to subsidise rather than you personally? 

A couple on minimum wage could get a mortgage of £166k according to the Nationwide calculator. Add in help to buy, shared equity or the other schemes which we all "crowdfund" via our taxes, and in some areas they probably could afford a 4 bed house

FinallyFTB2021

MobileSaver said:

Why don't you and @BikingBud start up a crowdfunding campaign to help "shop workers, bus drivers, catering staff" all get a "four bed house with big garden in that nice area"? How much will you personally donate to this worthy cause?

No-one should be entitled to buy any house, let alone a nice house in a nice area.

Is there anything else you think those stacking shelves should also be entitled to? What about a half-decent car? Surely we can't have them travelling around in an old rusty banger that might let them down one day? How much will you personally donate towards them buying a new BMW or would this be something else you want taxpayers to subsidise rather than you personally? 

 Wow, what a nasty piece of work you are!! Everyone who works hard should be entitled to buy a house. 

MobileSaver

FinallyFTB2021 said:

MobileSaver said:

No-one should be entitled to buy any house, let alone a nice house in a nice area.

 Wow, what a nasty piece of work you are!! Everyone who works hard should be entitled to buy a house. 

There is nothing nasty about it at all; you are simply wrong, no-one should be entitled to buy anything. We live in a market economy so if you can afford something you can buy it and if you can't afford it then you can't buy it.

Everyone is entitled to a home but that is very different to being entitled to buy a house.

Should the hard-working barman who as soon as he gets off his shift spends his wages on drink, drugs and women (and then wastes the rest) also be entitled to buy a house? According to you he should!  Can you see the fundamental flaw in your argument?

Lavendyr

MobileSaver said:

zpargo said:

They don't care about the young people of this country who are trying to get a foothold on the property ladder. ... At the current rate, I do worry about the future of young people. Education is expensive and now properties are unaffordable. 

There's loads of affordable properties available!

The problem is that they're not good enough for the self-entitled "young people" of today who seem to want nice houses in nice areas just like their parents, conveniently forgetting that in most cases their parents had to work hard and make sacrifices for decades to get where they are today...

This quote was what shocked me about you, @MobileSaver. You are making incredibly generalised statements which are guaranteed to offend. And then you seem surprised when people are unimpressed with what you have to say. 

My parents did indeed make sacrifices. They also bought houses in the 1990s which were priced at 2x their salaries. Not 4.5x, as we are often faced with today. I have nothing but respect for the work my parents put in and I am happy for them that they are now enjoying a well earned retirement. The fact remains that the housing market is a completely different place. It's very easy to say "there's loads of affordable properties available" but they are not typically available in the areas in which people need to work. 

Your comments make you sound completely disconnected from the real world at best and troll-like at worst. 

MobileSaver

Lavendyr said:

MobileSaver said:

There's loads of affordable properties available!

The problem is that they're not good enough for the self-entitled "young people" of today who seem to want nice houses in nice areas just like their parents, conveniently forgetting that in most cases their parents had to work hard and make sacrifices for decades to get where they are today...

This quote was what shocked me about you, @MobileSaver. You are making incredibly generalised statements which are guaranteed to offend.

Perhaps I could have worded it better but you've mis-interpreted my comment, I was deliberately trying not to make a generalised statement. The phrase "self-entitled young people" was intended to mean "those young people who are self-entitled", it was not suggesting "all young people are self-entitled".

Lavendyr said:

MobileSaver said:

conveniently forgetting that in most cases their parents had to work hard and make sacrifices for decades to get where they are today...

My parents did indeed make sacrifices. ... were priced at 2x their salaries. Not 4.5x, as we are often faced with today. The fact remains that the housing market is a completely different place.

The problem with that viewpoint is that you are taking just one negative aspect of life between now and the 1990s (that houses were available for a lower salary multiple) and implying that therefore our parents had it so much easier.

You are ignoring numerous technological, financial, lifestyle and physical improvements to life generally and the housing market in particular over the last thirty years which all add up to the fact that in many respects it has never been so easy for young people to get on the property ladder as it is today.

hippocrates1

MobileSaver said:

zpargo said:

They don't care about the young people of this country who are trying to get a foothold on the property ladder. ... At the current rate, I do worry about the future of young people. Education is expensive and now properties are unaffordable. 

There's loads of affordable properties available!

The problem is that they're not good enough for the self-entitled "young people" of today who seem to want nice houses in nice areas just like their parents, conveniently forgetting that in most cases their parents had to work hard and make sacrifices for decades to get where they are today...

Lol your view is so scewed

my dad bought his first house at 22. He left school at fifteen. Worked an entry level job and managed to buy a four bed detached with large front and back garden with double garage. Now paid off the mortgage.

I on the other hand am a doctor. Qualified as soon as possible who only now at 26 managed to get on the property ladder. I’ve bought a 3 bed semi with a tiny garden and allocated parking in the North. And I had to get money from my parents to buy it.

But yeah we’re so self entitled.