want to get out of parents

warby68

For OP if all you really want is the right property and it could come up tomorrow I wouldn't bother renting but if living at home is getting hard work, allocate some budget to time away and take plenty of mini breaks or overnight stays. You could even use them to fact find on areas and also to introduce some privacy between you and parents where you don't share your every move.

Sarah1Mitty2

MultiFuelBurner said:

[Deleted User] said:

Emily_Joy said:

[Deleted User] said:

Sunsaru said:

My only advice is to set yourself some goals and work towards that. Set yourself a 'light at the end of the tunnel' and go for it. If it means keeping your head down at you parents then just focus on that light. You're a big boy now and your life is your own.

The problem is that the goalposts keep moving. In the last few years houses have been rising faster than most people can save, putting them further and further out of reach.

If you believe that the government or the next one will actually do something meaningful to fix this, that's probably 4-5 years away minimum.

I don't think the goalposts should be set in terms of house prices that nobody can really control. 

I do. Housing should be affordable.

Owning a house takes hard work and sacrifice for many. 

Why should it be affordable?

Why should their be a right for everyone to own on an island with every increasing population and not enough houses being built to sustain the increase in population year after year?

People that sacrificed have benefitted, as they should.

For us that was 4 jobs between the two of us and just one afternoon together for 4 years to buy our first house. We have been rewarded for that effort time and time again and what it did was also set us up for life as well. Hard work and sacrifice pays off.

I'm not a fan of handing out affordable housing for all but am curious as to what you might think criteria should be.

I do like the idea of good renter's being rewarded and a scheme for them from the government to help get them on the ladder. People that prove they can pay a rent should have that taken into consideration for a mortgage to buy for themselves.

Because most if it is green space and no one looking to buy property doesn`t already live somewhere, there are already enough housing units, inflated property prices were designed to make bankers big bonuses, nothing at all to do with shortage of houses.

Sarah1Mitty2

[Deleted User] said:

Sarah1Mitty2 said:

[Deleted User] said:

Sunsaru said:

My only advice is to set yourself some goals and work towards that. Set yourself a 'light at the end of the tunnel' and go for it. If it means keeping your head down at you parents then just focus on that light. You're a big boy now and your life is your own.

The problem is that the goalposts keep moving. In the last few years houses have been rising faster than most people can save, putting them further and further out of reach.

If you believe that the government or the next one will actually do something meaningful to fix this, that's probably 4-5 years away minimum.

Higher interest rates will do a good job of fixing it, and much quicker than five years.

Sadly I doubt it. It certainly won't bring prices back down to 1990s levels.

Most people will be happy with early 2000`s levels.

MobileSaver

Sarah1Mitty2 said:

[Deleted User] said:

Sarah1Mitty2 said:

[Deleted User] said:

Sunsaru said:

My only advice is to set yourself some goals and work towards that. Set yourself a 'light at the end of the tunnel' and go for it. If it means keeping your head down at you parents then just focus on that light. You're a big boy now and your life is your own.

The problem is that the goalposts keep moving. In the last few years houses have been rising faster than most people can save, putting them further and further out of reach.

If you believe that the government or the next one will actually do something meaningful to fix this, that's probably 4-5 years away minimum.

Higher interest rates will do a good job of fixing it, and much quicker than five years.

Sadly I doubt it. It certainly won't bring prices back down to 1990s levels.

Most people will be happy with early 2000`s levels.

The 20 million people who already own property wouldn't be happy which is one reason why that would never happen!

Sarah1Mitty2 said:

inflated property prices were designed to make bankers big bonuses, nothing at all to do with shortage of houses.

Have you started early on the vino again?

Sarah1Mitty2

MobileSaver said:

Sarah1Mitty2 said:

[Deleted User] said:

Sarah1Mitty2 said:

[Deleted User] said:

Sunsaru said:

My only advice is to set yourself some goals and work towards that. Set yourself a 'light at the end of the tunnel' and go for it. If it means keeping your head down at you parents then just focus on that light. You're a big boy now and your life is your own.

The problem is that the goalposts keep moving. In the last few years houses have been rising faster than most people can save, putting them further and further out of reach.

If you believe that the government or the next one will actually do something meaningful to fix this, that's probably 4-5 years away minimum.

Higher interest rates will do a good job of fixing it, and much quicker than five years.

Sadly I doubt it. It certainly won't bring prices back down to 1990s levels.

Most people will be happy with early 2000`s levels.

The 20 million people who already own property wouldn't be happy which is one reason why that would never happen!

Sarah1Mitty2 said:

inflated property prices were designed to make bankers big bonuses, nothing at all to do with shortage of houses.

Have you started early on the vino again?

Millions with big mortgages wouldn`t be happy with higher interest rates, that happened. 

MobileSaver

Sarah1Mitty2 said:

MobileSaver said:

Sarah1Mitty2 said:

[Deleted User] said:

Sarah1Mitty2 said:

[Deleted User] said:

Sunsaru said:

My only advice is to set yourself some goals and work towards that. Set yourself a 'light at the end of the tunnel' and go for it. If it means keeping your head down at you parents then just focus on that light. You're a big boy now and your life is your own.

The problem is that the goalposts keep moving. In the last few years houses have been rising faster than most people can save, putting them further and further out of reach.

If you believe that the government or the next one will actually do something meaningful to fix this, that's probably 4-5 years away minimum.

Higher interest rates will do a good job of fixing it, and much quicker than five years.

Sadly I doubt it. It certainly won't bring prices back down to 1990s levels.

Most people will be happy with early 2000`s levels.

The 20 million people who already own property wouldn't be happy which is one reason why that would never happen!

Sarah1Mitty2 said:

inflated property prices were designed to make bankers big bonuses, nothing at all to do with shortage of houses.

Have you started early on the vino again?

Millions with big mortgages wouldn`t be happy with higher interest rates, that happened. 

So your expert financial analysis is that because interest rates increased by a few percent that therefore means that house prices will drop by 70% to bring them back to early 2000's levels?!?! You really have started early on the vino haven't you! LOL

Sarah1Mitty2

MobileSaver said:

Sarah1Mitty2 said:

MobileSaver said:

Sarah1Mitty2 said:

[Deleted User] said:

Sarah1Mitty2 said:

[Deleted User] said:

Sunsaru said:

My only advice is to set yourself some goals and work towards that. Set yourself a 'light at the end of the tunnel' and go for it. If it means keeping your head down at you parents then just focus on that light. You're a big boy now and your life is your own.

The problem is that the goalposts keep moving. In the last few years houses have been rising faster than most people can save, putting them further and further out of reach.

If you believe that the government or the next one will actually do something meaningful to fix this, that's probably 4-5 years away minimum.

Higher interest rates will do a good job of fixing it, and much quicker than five years.

Sadly I doubt it. It certainly won't bring prices back down to 1990s levels.

Most people will be happy with early 2000`s levels.

The 20 million people who already own property wouldn't be happy which is one reason why that would never happen!

Sarah1Mitty2 said:

inflated property prices were designed to make bankers big bonuses, nothing at all to do with shortage of houses.

Have you started early on the vino again?

Millions with big mortgages wouldn`t be happy with higher interest rates, that happened. 

So your expert financial analysis is that because interest rates increased by a few percent that therefore means that house prices will drop by 70% to bring them back to early 2000's levels?!?! You really have started early on the vino haven't you! LOL

My analysis is that people with long term mortgage debt and people who own their house don`t have any control over the bond/credit markets, and neither does the UK government (so please don`t come back and say the voters would never stand for it!) That is why the OP is doing the right thing by keeping their housing costs super low and building a big cash/investment pot, imagine what their finances would be like if they had taken the advice to get into long term mortgage debt a couple of years ago!

jimbog

OP,  you seem to be edging towards a solution that would best work for you. Waiting for a 70% drop in house prices would be unwise

Hedgepigs

Sarah1Mitty2 said:

MobileSaver said:

Sarah1Mitty2 said:

MobileSaver said:

Sarah1Mitty2 said:

[Deleted User] said:

Sarah1Mitty2 said:

[Deleted User] said:

Sunsaru said:

My only advice is to set yourself some goals and work towards that. Set yourself a 'light at the end of the tunnel' and go for it. If it means keeping your head down at you parents then just focus on that light. You're a big boy now and your life is your own.

The problem is that the goalposts keep moving. In the last few years houses have been rising faster than most people can save, putting them further and further out of reach.

If you believe that the government or the next one will actually do something meaningful to fix this, that's probably 4-5 years away minimum.

Higher interest rates will do a good job of fixing it, and much quicker than five years.

Sadly I doubt it. It certainly won't bring prices back down to 1990s levels.

Most people will be happy with early 2000`s levels.

The 20 million people who already own property wouldn't be happy which is one reason why that would never happen!

Sarah1Mitty2 said:

inflated property prices were designed to make bankers big bonuses, nothing at all to do with shortage of houses.

Have you started early on the vino again?

Millions with big mortgages wouldn`t be happy with higher interest rates, that happened. 

So your expert financial analysis is that because interest rates increased by a few percent that therefore means that house prices will drop by 70% to bring them back to early 2000's levels?!?! You really have started early on the vino haven't you! LOL

My analysis is that people with long term mortgage debt and people who own their house don`t have any control over the bond/credit markets, and neither does the UK government (so please don`t come back and say the voters would never stand for it!) That is why the OP is doing the right thing by keeping their housing costs super low and building a big cash/investment pot, imagine what their finances would be like if they had taken the advice to get into long term mortgage debt a couple of years ago!

Probably fine. They'd potentially still have around 3 years of a low fixed rate mortgage to run, giving plenty time to see how the rates might settle, started paying down the debt, and the ltv would have improved as the house would still be worth more than when they bought it. And had the added benefit of enjoying living in their own home for a couple of years.

[Deleted User]

Sarah1Mitty2 said:

MultiFuelBurner said:

[Deleted User] said:

Emily_Joy said:

[Deleted User] said:

Sunsaru said:

My only advice is to set yourself some goals and work towards that. Set yourself a 'light at the end of the tunnel' and go for it. If it means keeping your head down at you parents then just focus on that light. You're a big boy now and your life is your own.

The problem is that the goalposts keep moving. In the last few years houses have been rising faster than most people can save, putting them further and further out of reach.

If you believe that the government or the next one will actually do something meaningful to fix this, that's probably 4-5 years away minimum.

I don't think the goalposts should be set in terms of house prices that nobody can really control. 

I do. Housing should be affordable.

Owning a house takes hard work and sacrifice for many. 

Why should it be affordable?

Why should their be a right for everyone to own on an island with every increasing population and not enough houses being built to sustain the increase in population year after year?

People that sacrificed have benefitted, as they should.

For us that was 4 jobs between the two of us and just one afternoon together for 4 years to buy our first house. We have been rewarded for that effort time and time again and what it did was also set us up for life as well. Hard work and sacrifice pays off.

I'm not a fan of handing out affordable housing for all but am curious as to what you might think criteria should be.

I do like the idea of good renter's being rewarded and a scheme for them from the government to help get them on the ladder. People that prove they can pay a rent should have that taken into consideration for a mortgage to buy for themselves.

Because most if it is green space and no one looking to buy property doesn`t already live somewhere, there are already enough housing units, inflated property prices were designed to make bankers big bonuses, nothing at all to do with shortage of houses.

People living in cramped conditions or in HMOs might disagree with you