House price increases. Is everyone absolutely loaded?

MobileSaver

hippocrates1 said:

MobileSaver said:

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...

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. 

So your dad had been working and earning money for seven years before he bought his first house...

You on the other hand went to Uni instead and trained to be a doctor which takes, what, at least five years? So at 26 you have possibly been working full-time for three years tops, probably less and you're complaining only now can you buy a house?

Yeah, you're right, I'd call that self-entitled.

davilown

It’s a wierd one, that’s for sure. 

@MobileSaver on many aspects - perhaps the most pertinent point is the frivolous spending we are all guilty of:

mobile phones contracts
new car finance
multiple other purchases
more than 1 holiday a year
new clothes every 5 mins with no hand-me-downs (very frowned upon now!)
Driving to work

I could easily go on. But if we didn’t have these for a period, savings could increase quite significantly, as has been shown over the last 16 months.

One other point is starter homes - many of my friends who are FTBs don’t want to live in the cheaper housing, rather want to buy more expensive places 

 

[Deleted User]

hippocrates1 said:

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. 

Your father was in work for 7 years until he bought a house. You've been studying.

boxer234

Wow some of the comments on this thread.  It is a fact house prices have gone up so much they are out of reach for many.  My parents bought their house in the 90s small deposit, low paid jobs? 4 bed detached house.  They openly admit they couldn’t have done it these days. 

Often I see comments on here about entitled youngsters.  Told they should move away from family, commute further (this cost more) ect.

They are told to rent if they can’t afford to  buy which would be fine if the rental system I’m this country gave some security.  Social housing no chance. 

Who did we need in this pandemic? Shop workers, nurses, bin men, paramedics all of whom earn wages where they are priced out of many areas.  

Maybe I am idealistic but I believe a secure home is an entitlement for everyone.  

I am not a FTB nor have I grown up with a sense of entitlement.  I got my degree through the OU and worked 3 jobs whilst doing it. 

zagfles

boxer234 said:

Wow some of the comments on this thread.  It is a fact house prices have gone up so much they are out of reach for many.  My parents bought their house in the 90s small deposit, low paid jobs? 4 bed detached house.  They openly admit they couldn’t have done it these days. 

Often I see comments on here about entitled youngsters.  Told they should move away from family, commute further (this cost more) ect.

They are told to rent if they can’t afford to  buy which would be fine if the rental system I’m this country gave some security.  Social housing no chance. 

Who did we need in this pandemic? Shop workers, nurses, bin men, paramedics all of whom earn wages where they are priced out of many areas.  

Maybe I am idealistic but I believe a secure home is an entitlement for everyone.  

I am not a FTB nor have I grown up with a sense of entitlement.  I got my degree through the OU and worked 3 jobs whilst doing it. 

I've said it before here, but the solution is to reduce the investment incentive when buying a house, that would reduce demand and hence prices. The only solution people seem to see is the supply side, must build more houses, must feed the demand, but if the demand is fed by investment potential then it's limitless. People who can will buy second, even third houses if they think they're a "good investment". Contrary to popular belief, the housing supply has risen massively more than the population over the last 50 years, there far more housing per person now than there was in the 1970's. We could pave over the entire countryside and still have a housing shortage.

So if you take the investment potential out, or at least reduce it, you'll reduce demand. This could easily be done, eg high CGT on housing profits inc owner occupied, allowing rollforwards, so if you move upmarket you can roll forwards any gain, you'll only pay when you realise profits by either moving downmarket or selling up completely eg moving abroad.

hippocrates1

[Deleted User] said:

hippocrates1 said:

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. 

Your father was in work for 7 years until he bought a house. You've been studying.

So you’re saying someone who has been working for seven years in 2021 earns more than a doctor who has been working for three. Probably less than 1% of them. And definitely not those without any qualifications. Your logic is flawed.

And to add to that my dad works full time now so has been working for 50 years and I earn more money than him. 

Booge

Flatulentoldgoat said:

Cornwall is obviously a nice place and no disrespect to it, but 550k is seriously London money. No way should that it comparable (in general terms) to London. That would buy you something respectable in nicer parts such as Wimbledon and Ealing. Less space obviously but you've got a world of career prospects, amenities, culture, activities etc. It's a world class city as the prices usually reflect that although I can't argue it suffers greatly from foreign investors jacking the baseline up artificially.

£550k will buy you a 2 bed flat in Wimbledon, not a house. Those prices have sailed a long time ago.

I agree, I live near Ealing and there’s no way £550k will get you anything decent. A nice semi or terrace in the nice bit of central Ealing near the common is going to be more like £1.2-1.5 million. It’s very posh there. £550k will get you a grotty 2 bedroom terrace in Greenford or Southall. 

MobileSaver

boxer234 said:

It is a fact house prices have gone up so much they are out of reach for many. 

It is a fact that house prices have always been out of reach for many...

And you wonder why so many people refer to the younger generation as "snowflakes" that they have an inflated sense of uniqueness!

boxer234 said:

Maybe I am idealistic but I believe a secure home is an entitlement for everyone. 

You are being idealistic and completely unrealistic if by "secure home" you mean a home they own rather than a home they rent.

As pointed out to another poster, on what basis do you think it is right that someone who spends every penny they earn on drink, drugs and women should be entitled to buy a home?

boxer234 said:

I got my degree through the OU and worked 3 jobs whilst doing it. 

If that is true then why do you believe a lazy waster who works the absolute minimum possible should get special treatment and essentially be given a free home?

boxer234

MobileSaver said:

boxer234 said:

It is a fact house prices have gone up so much they are out of reach for many. 

It is a fact that house prices have always been out of reach for many...

And you wonder why so many people refer to the younger generation as "snowflakes" that they have an inflated sense of uniqueness!

boxer234 said:

Maybe I am idealistic but I believe a secure home is an entitlement for everyone. 

You are being idealistic and completely unrealistic if by "secure home" you mean a home they own rather than a home they rent.

As pointed out to another poster, on what basis do you think it is right that someone who spends every penny they earn on drink, drugs and women should be entitled to buy a home?

boxer234 said:

I got my degree through the OU and worked 3 jobs whilst doing it. 

If that is true then why do you believe a lazy waster who works the absolute minimum possible should get special treatment and essentially be given a free home?

MobileSaver said:

boxer234 said:

It is a fact house prices have gone up so much they are out of reach for many. 

It is a fact that house prices have always been out of reach for many...

And you wonder why so many people refer to the younger generation as "snowflakes" that they have an inflated sense of uniqueness!

boxer234 said:

Maybe I am idealistic but I believe a secure home is an entitlement for everyone. 

You are being idealistic and completely unrealistic if by "secure home" you mean a home they own rather than a home they rent.

As pointed out to another poster, on what basis do you think it is right that someone who spends every penny they earn on drink, drugs and women should be entitled to buy a home?

boxer234 said:

I got my degree through the OU and worked 3 jobs whilst doing it. 

If that is true then why do you believe a lazy waster who works the absolute minimum possible should get special treatment and essentially be given a free home?

 Renting is not secure this is why people want to own.   There are people who can’t work due to illness or childcare (would’t call them wasters myself) are more likely to get long term social housing.  Those earning low wages in expensive areas should have the right to secure long term tenancy or be able to buy.  

What if all the low workers took the advice on here and moved out of London/ expensive areas and up north.  Who would pour your coffee ? Stack your shelves ? Nurse you when your sick? 

I’m not talking about drug dealers I’m talking about hard working people who can’t get a leg up because mummy and daddy don’t have a trust fund.  I think someone working 40/50 hours a week as a nurse should be able to afford a home in their area without having to get involved in some stupid government scheme.  

Gets down off soap box. 

zagfles

boxer234 said:

MobileSaver said:

boxer234 said:

It is a fact house prices have gone up so much they are out of reach for many. 

It is a fact that house prices have always been out of reach for many...

And you wonder why so many people refer to the younger generation as "snowflakes" that they have an inflated sense of uniqueness!

boxer234 said:

Maybe I am idealistic but I believe a secure home is an entitlement for everyone. 

You are being idealistic and completely unrealistic if by "secure home" you mean a home they own rather than a home they rent.

As pointed out to another poster, on what basis do you think it is right that someone who spends every penny they earn on drink, drugs and women should be entitled to buy a home?

boxer234 said:

I got my degree through the OU and worked 3 jobs whilst doing it. 

If that is true then why do you believe a lazy waster who works the absolute minimum possible should get special treatment and essentially be given a free home?

MobileSaver said:

boxer234 said:

It is a fact house prices have gone up so much they are out of reach for many. 

It is a fact that house prices have always been out of reach for many...

And you wonder why so many people refer to the younger generation as "snowflakes" that they have an inflated sense of uniqueness!

boxer234 said:

Maybe I am idealistic but I believe a secure home is an entitlement for everyone. 

You are being idealistic and completely unrealistic if by "secure home" you mean a home they own rather than a home they rent.

As pointed out to another poster, on what basis do you think it is right that someone who spends every penny they earn on drink, drugs and women should be entitled to buy a home?

boxer234 said:

I got my degree through the OU and worked 3 jobs whilst doing it. 

If that is true then why do you believe a lazy waster who works the absolute minimum possible should get special treatment and essentially be given a free home?

 Renting is not secure this is why people want to own.   There are people who can’t work due to illness or childcare (would’t call them wasters myself) are more likely to get long term social housing.  Those earning low wages in expensive areas should have the right to secure long term tenancy or be able to buy.  

What if all the low workers took the advice on here and moved out of London/ expensive areas and up north.  Who would pour your coffee ? Stack your shelves ? Nurse you when your sick? 

I’m not talking about drug dealers I’m talking about hard working people who can’t get a leg up because mummy and daddy don’t have a trust fund.  I think someone working 40/50 hours a week as a nurse should be able to afford a home in their area without having to get involved in some stupid government scheme.  

Gets down off soap box. 

Maybe the govt should just leave it to market forces. If nurses, teachers, binmen etc can't afford to live in a particular area, those in their £1.5 million houses might start complaining if they can't get their bins emptied, if there is no local A&E, if local schools can't get teachers. Then they might decide to sell up and move to an area where the bins are collected and there are schools where teachers can afford to live, equalising prices more.

Basically what I did in the early 90s. Was working in London, got an offer of a transfer to near Manchester, same salary, but somewhere I could easily afford to buy (I couldn't in London), where the commute would be 20 mins instead of 90, where the crime rate was lower, where the pollution was less. No brainer.

My standard of living is now so much higher than friends and relatives in the SE, even those on much higher salaries, because they've had to plough so much of their income into housing. They're sitting on expensive housing, but it doesn't benefit them, they've put down roots there so aren't going to move.