BBC: Where property prices are set by what local people earn

MobileSaver

Sunsaru said:

MobileSaver said:

[Deleted User] said:

You didn't go without anything, but there were 5 of you to a bedroom? ... You should not expect people to raise children if they can't properly house them. Incredible that has to be said in 2023 but here you are.

Thank you for yet again completely and utterly proving my point.

We were kids and didn't know or care that you could have your own bedroom. We were properly housed; we had a roof over our heads and a warm and dry home to live in.

The fact you are aghast that we shared a room says all anyone needs to know about how entitled some of the younger generation are.

I think it's harsh to call the younger generation entitled. They only know what we've taught them.

I agree that parents have to take some responsibility for how their kids perceive the world but I doubt that @[Deleted User]'s parents really taught them that anyone who had kids sharing a room must be living in poverty.

Both here and in the real world I do see a proportion of the younger generation who, to my mind at least, genuinely feel entitled so it may be harsh but sadly it's also true.

I have mentioned on these forums before about an extended family member; single mum, lovely, intelligent girl who has brought up her young children to be the politest and most adorable kids you could imagine and yet she was aggrieved the council wouldn't move her to a home that allowed her two young children to have a bedroom each...

housebuyer143 said:

Every generation has it's challenges.

I think that's the truest thing said in this thread!

Sunsaru

Altior said:

Yes Sunsaru, many thanks for clarifying and I did read it as well intended anyway, as I noted. However I feel it does show what the modern world is up against, in my opinion. The country is producing kids into adulthood who are pretty bitter, angry, and I do feel somewhat, entitled. There is no prospect in this situation being reversed. There's currency in clickbait and attention seeking, not so much in pragmatism.

Then all we can do is deal with whats in front of us (our children) and teach them the best we can

[Deleted User]

housebuyer143 said:

BobT36 said:

housebuyer143 said:

MobileSaver said:

Yellowsub2000 said:

If mortgage is set by 3.5X earnings then house prices need to get back down to there too

Over a million people in the UK manage to buy a property every single year, even in the current climate.

So the obvious answer for those complaining they can't afford to buy is for them to either buy something cheaper or instead better themselves to improve their earnings. Why should the rest of us be brought down to the lowest common denominator?

I do feel that many first time buyers have unrealistic expectations, wanting to purchase a 3 bed semi as thier first house or larger, all done out immaculate etc. 
It's called a ladder for a reason and people need to have realistic expectations when buying their first place if they don't have the money to buy what they are dreaming of. 

If we ignore the south east it is very possible to get on the housing ladder if people set their sights a little smaller initially.

The average age of FTBers is now 34... Most of those will be renting and putting off having kids due to that. Dangerously close to infertility years (especially if not had the first already). 

Guess what happens when no-one is having kids anymore as they can't get anything better than a 1 bed flat in dangerous areas... No more pensions being paid for current retirees! 

That, or even more mass immigration. 

FTBers are no longer 19 year olds wanting to get their first foot on the property ladder and happy with a small 1-2 bed flat/terrace..

Do people really put off kids until they buy? Not that I have noticed. 
Someone in a 2 bed could easily fit two kids and two adults but they don't want to and so they complain how they can't afford to buy anywhere when in reality they could afford to if they either comprised on area or bought something smaller. Why can't a 34 year old buy a 2 bed flat? 

Everyone I know and worked with managed to buy a house in their 20s. Some bought in the city but went for 2 beds, the others moved 30 mins out and bought 3 beds for the same price. You make compromises until you can get into the house you want in the area you want - most people can't buy their dream home right off the bat.

Some people feel that they want to give their children a good childhood, where they can have a little bit of privacy, and also where they don't have to be constantly refereeing because they share a room.

It puts people off. People are having children later and later, and a big part of that is so they can build up more savings. Long gone are the days when a single person could provide for a spouse and children on an average wage.

[Deleted User]

Sarah1Mitty2 said:

MobileSaver said:

[Deleted User] said:

MobileSaver said:

Yellowsub2000 said:

If mortgage is set by 3.5X earnings then house prices need to get back down to there too

Over a million people in the UK manage to buy a property every single year, even in the current climate.

So the obvious answer for those complaining they can't afford to buy is for them to either buy something cheaper or instead better themselves to improve their earnings. Why should the rest of us be brought down to the lowest common denominator?

It's really sad that people think this is acceptable. ... It's not at all wrong to want the same opportunities your parents and grandparents had.

Young people have far more opportunities and a much easier and more comfortable life than their parents and grandparents ever had.

I find it really sad that some people just focus on high house prices and ignore everything else when they could be appreciating all the incredible benefits and improvements introduced by the hard work, tenacity and inventiveness of previous generations.

Up until the age of around 11 our home was one bedroom which was shared by us five children while our parents slept on a sofa bed in the lounge. Today's generation come on to this forum asking how they can get an extra bedroom because they have a newborn on the way, the sense of entitlement is palpable!

Both mostly due to cheap credit which wasn`t available to previous generations, and both going into reverse as interest rates rise.

The rush to offer credit was what caused the 2008 financial crash. There are people who have lived their entire adult lives under austerity.

Another example of how credit screws younger generations is university fees. It was free for their parents, but they had to borrow. It's got to the point now where they graduate tens of thousands in debt and into a struggling economy. Everyone told them that working hard would be rewarded, but I think gen Z in particular has realised what an awful lie that was. The opportunities their parents and grandparents enjoyed are simply not there now.

They see people voting for brexit, voting for the Tories, and get told that they just have to accept being poorer now. For many of the aforementioned that means cutting back on a few luxuries, because they already have a house and a paid down mortgage. For Gen Z, it means their rent goes up and their gig economy jobs dry up.

tooldle

The university fees myth.
Back in the day of grants, roughly 10% of school leavers went to university. Places were restricted. When the loan system was introduced, huge expansion followed fuelled partly by other  institutions entering the market through being given degree awarding powers. These days roughly 50% of school leavers go to university. 

There are winners and losers, for some the win is access to the opportunity that would not have been available to them under the old system. Debt is perhaps an issue, although many stay below the threshold for repayment. I’ve not yet come across a graduate who struggles with the repayments.
Back in 1988 my institution had roughly 3000 students enrolled. Now, we have just over 23000 enrolled students. 20000 of those would not have made the cut back in 1988. At the same time this city had one university in 1988, now it has two and the newer institution has around 10000 students. So, in this city along there are currently 30000 places which did not exist in 1988. 

I’m not convinced a single person on an average wage could provide as such for a family and kids. From my own childhood when women were sacked on marriage, or if luckily allowed to remain in work until announcing a pregnancy. Life was austere for most. Many families had cash generating sidelines to help make ends meet. Things were made rather than purchased, food was grown, clothes were home made and handed down, shoes were repaired etc. Things are different now, particularly for women.

[Deleted User]

The Everyone Wants A Degree myth.

Employers want degrees. Get one or take a low paid job. Employers aren't interested in training staff anymore.

You can't blame young people for taking their parent's and teacher's advice and looking to get a decent job.

Sarah1Mitty2

[Deleted User] said:

Sarah1Mitty2 said:

MobileSaver said:

[Deleted User] said:

MobileSaver said:

Yellowsub2000 said:

If mortgage is set by 3.5X earnings then house prices need to get back down to there too

Over a million people in the UK manage to buy a property every single year, even in the current climate.

So the obvious answer for those complaining they can't afford to buy is for them to either buy something cheaper or instead better themselves to improve their earnings. Why should the rest of us be brought down to the lowest common denominator?

It's really sad that people think this is acceptable. ... It's not at all wrong to want the same opportunities your parents and grandparents had.

Young people have far more opportunities and a much easier and more comfortable life than their parents and grandparents ever had.

I find it really sad that some people just focus on high house prices and ignore everything else when they could be appreciating all the incredible benefits and improvements introduced by the hard work, tenacity and inventiveness of previous generations.

Up until the age of around 11 our home was one bedroom which was shared by us five children while our parents slept on a sofa bed in the lounge. Today's generation come on to this forum asking how they can get an extra bedroom because they have a newborn on the way, the sense of entitlement is palpable!

Both mostly due to cheap credit which wasn`t available to previous generations, and both going into reverse as interest rates rise.

The rush to offer credit was what caused the 2008 financial crash. There are people who have lived their entire adult lives under austerity.

Another example of how credit screws younger generations is university fees. It was free for their parents, but they had to borrow. It's got to the point now where they graduate tens of thousands in debt and into a struggling economy. Everyone told them that working hard would be rewarded, but I think gen Z in particular has realised what an awful lie that was. The opportunities their parents and grandparents enjoyed are simply not there now.

They see people voting for brexit, voting for the Tories, and get told that they just have to accept being poorer now. For many of the aforementioned that means cutting back on a few luxuries, because they already have a house and a paid down mortgage. For Gen Z, it means their rent goes up and their gig economy jobs dry up.

The University fees are a con, yes, but we never had real austerity, nowhere close, maybe it will be on the way though if inflation isn`t brought under control? They were lied to, yes, but  the biggest lie was that money can be cheap forever.

Getting_greyer

You'll be wanting anesthetic on the surgeon's table next. Pah..

[Deleted User]

Sarah1Mitty2 said:

[Deleted User] said:

Sarah1Mitty2 said:

MobileSaver said:

[Deleted User] said:

MobileSaver said:

Yellowsub2000 said:

If mortgage is set by 3.5X earnings then house prices need to get back down to there too

Over a million people in the UK manage to buy a property every single year, even in the current climate.

So the obvious answer for those complaining they can't afford to buy is for them to either buy something cheaper or instead better themselves to improve their earnings. Why should the rest of us be brought down to the lowest common denominator?

It's really sad that people think this is acceptable. ... It's not at all wrong to want the same opportunities your parents and grandparents had.

Young people have far more opportunities and a much easier and more comfortable life than their parents and grandparents ever had.

I find it really sad that some people just focus on high house prices and ignore everything else when they could be appreciating all the incredible benefits and improvements introduced by the hard work, tenacity and inventiveness of previous generations.

Up until the age of around 11 our home was one bedroom which was shared by us five children while our parents slept on a sofa bed in the lounge. Today's generation come on to this forum asking how they can get an extra bedroom because they have a newborn on the way, the sense of entitlement is palpable!

Both mostly due to cheap credit which wasn`t available to previous generations, and both going into reverse as interest rates rise.

The rush to offer credit was what caused the 2008 financial crash. There are people who have lived their entire adult lives under austerity.

Another example of how credit screws younger generations is university fees. It was free for their parents, but they had to borrow. It's got to the point now where they graduate tens of thousands in debt and into a struggling economy. Everyone told them that working hard would be rewarded, but I think gen Z in particular has realised what an awful lie that was. The opportunities their parents and grandparents enjoyed are simply not there now.

They see people voting for brexit, voting for the Tories, and get told that they just have to accept being poorer now. For many of the aforementioned that means cutting back on a few luxuries, because they already have a house and a paid down mortgage. For Gen Z, it means their rent goes up and their gig economy jobs dry up.

The University fees are a con, yes, but we never had real austerity, nowhere close, maybe it will be on the way though if inflation isn`t brought under control? They were lied to, yes, but  the biggest lie was that money can be cheap forever.

You don't seem to have any idea what austerity did you people. Especially young people whose education and careers were blighted early on.

Yellowsub2000

MobileSaver said:

Yellowsub2000 said:

If mortgage is set by 3.5X earnings then house prices need to get back down to there too

Over a million people in the UK manage to buy a property every single year, even in the current climate.

So the obvious answer for those complaining they can't afford to buy is for them to either buy something cheaper or instead better themselves to improve their earnings. Why should the rest of us be brought down to the lowest common denominator?

The current climate we still have under 7% interest rates

once the base rate goes over 7% and inflation is raging it will be very very hard to buy a property unless prices come down a long way