How can people be so greedy?

chrisandanne

neas wrote: »

Its difficult to compare without knowing what type of jobs you were working. I mean a couple earning 20k combined income today (minimum wage region) would be a house worth 80k, they dont exist at the moment even flats are more than this.

What im trying to say my salary isnt too bad so im not entirely worse off as those tesco workers who have nothing else to look forward to than minimum wage and living at home with the parents.

It was more of a philosophical question to raise a debate... some of the same BTLers are complaining that their sons/daughters cant get on the market.. yet at the same instant hold portfolios of more than 5 properties etc.

Hi
Well you certainly succeded!!... What I meant was 4 times YOUR income would buy a £148K house...The comparison is in the proportion of income not the actual income. I don't know where you are looking, I know some areas are much more expensive, but you could get on the property ladder with £148K perhaps just not where you want or what you want, you would have to compromise, also for this you would be shelling out a lot a month, but if you really wanted a house.. any house.. it's possible for you, we all have to start somewhere. I do know how you feel though because I divorced and sold my house in 1999, right before they went up dramatically..I waited, renting, with my share in the bank and didn't want this and couldn't live there and hey presto...they are ALL too expensive now, my half share of the home is now barely a deposit and I couldn't afford the repayments on the rest so I have to keep on renting. Or I could buy a run down house in a bad area which I am not prepared to do. I am lucky in that I rent a nice house with reasonable rent and a good landlord, it's so good that I am not sure I ever WANT to own a house again. You have loads of time, you will get to where you want to be eventually...but don't blame us oldies we have been there done that...honest:rotfl:

chrisandanne

p.s. I am 56 born 1951 and don't remember anyone not having electricity !!! we also had cars, holidays abroad and bathrooms.....but there again I was a latch key kid....so maybe we were the supa rich...I don't think so...I have never heard anything so daft..we're talking the 1950's not the 1850's !!!

sunshinejoclaire

Benefits_Blagger wrote: »

how am i a hypocrit ?

well at the moment, i am technically homeless, savings wont buy me anyway unless im willing to live somewhere where i will have prostitutes on side and drug addicts on the other.

if the market was more sensible, i would be able to buy somewhere reasonable and still have money left over.

don't be so ridiculous. 100K in the bank? There are plenty of places you could move in the UK where you could buy a home outright and still have money left over :mad:

MrsE_2

sunshinejoclaire wrote: »

don't be so ridiculous. 100K in the bank? There are plenty of places you could move in the UK where you could buy a home outright and still have money left over :mad:

Sometimes people have family or work reasons. I live in Surrey, its probably the second most expensive place in the UK.
Could I move to a cheap area, no my work, family & friends are here.

But he could put 100k down & get a mortgage surely?

sunshinejoclaire

and after responding to the previous post, which is the first one I have felt strongly enough about to respond to I will say this :-

I'm so thankful for my situation after reading this whole thread. I live in an ex mining town in Co Durham and bought my first home 16 months ago, I'm so thankful I *do* live in an area where I could afford to buy.

Neither my OH or I are graduates (though peversley I do work in a University!), and we don't even earn the 'average' wage. We earned about 30K between us at the time of taking our mortage out. Our lovely 3 bedroomed bungalow in a nice area cost us 87.5K, though we did borrow over that as we could not afford to save up the deposit. We had to move out of our lovely flat fast for reasons I will not go into here, suffice to say they were not pretty, and we would have preferred to save for longer!

I am truly thankful for the above!

We are now planning to get wed and are squirreling away £200 a month (our disposable income) to pay for it.

We are currently 26 and 31 (we were 30 and 25 when we got onto the property ladder!)

sunshinejoclaire

MrsE wrote: »

Sometimes people have family or work reasons. I live in Surrey, its probably the second most expensive place in the UK.
Could I move to a cheap area, no my work, family & friends are here.

But he could put 100k down & get a mortgage surely?

yes precisley! I would never expect anyone to move.. but the 100K in the bank bit was the bit that riled me! :rotfl:



ETA - forgive the excess !!!'s - I have had a glass or 2 of merry juice tonight

Sapphire

PasturesNew wrote: »

I never had a Uni education. Nor did I ever have a partner to try to share the cost with.

I was brought up in a very expensive town where wages were quite low for the masses.

A friend of mine (successful Mercedes Benz salesman with some contacts a bit on the dodgy side) managed to get a mortgage on a 2 bed terrace in 1987 for £85,000 that wasn't in a particularly good street and wasn't anything special. At the time I was earning £6,000/year aged 27, to put the figures in perspective. At the time, I'd looked. A complete and utter derelict wreck 15 miles out of town, a wrecked/smashed and abandoned ex-council house was on the market at £30,000. It wasn't even a village, just what looked like one of a short row of old farm-workers' cottages. We could only borrow 3x earnings back then.

I finally bought a house at 40, by moving to a cheaper area then working 100 miles away for a bit better money. I thought buying a house was "it". Then you find out it's a nuisance. An expensive millstone. Limiting how you think and what you can do.

My father bought his first house at 40.

My sister is a solicitor, she bought her first house aged 30.

This generation seem to expect it all at once.

I think this is very true. At 24 neither I nor my simblings even contemplated buying any kind of property. I lived with my grandparents until I got married at the age of 28, and before that went out there and enjoyed myself and had all sorts of experiences without having to stress out about mortgages, or even saving. I got involved in politics, studied some more, went to parties, travelled, got drunk and other things. Those experiences enriched my life.

You have plenty of time to saddle yourself with a property – why not take advantage of your freedom? You don't have to own a property, despite all the propaganda. Once you do you will be on the treadmill, and many opportunities may no longer be open to you that are without the burden of a property.

This generation does indeed seem to expect it all at once. Brainwashing has had a very bad effect on our society. :rolleyes:

chrisandanne

If BB puts his £100k at interest at 6.5% = £650 he can pay rent with that and wait and see if the housing market falls...if it doesn't...tough, that's how it is, it's no good whinging that you have a 100K and house prices are too expensive..they are what they are, I'm pretty sure Blue Monkey would like to be in BB's position. She has my sympathy and I hope things work out for her and her family.

Sapphire

chrisandanne wrote: »

p.s. I am 56 born 1951 and don't remember anyone not having electricity !!! we also had cars, holidays abroad and bathrooms.....but there again I was a latch key kid....so maybe we were the supa rich...I don't think so...I have never heard anything so daft..we're talking the 1950's not the 1850's !!!

I know that many people born in the 1950s didn't have hot water or central heating. There used to be frost on the windowpanes in the mornings. Water had to be boiled in huge pans, and the place was heated by paraffin heaters – the light from them made a pretty pattern on the ceiling, but they were easy to knock over and therefore dangerous. It would be hard to imagine such circumstances in this country today.

I think everyone had electricity, though.

neverdespairgirl

Sapphire wrote: »

I know that many people born in the 1950s didn't have hot water or central heating. There used to be frost on the windowpanes in the mornings.

My parents' house in Kent doesn't have central heating *now*, never mind the 1950s! I've done the glass-of-water-by-the-bed freezing thing many times over the years (-:

There are wood burning stoves downstairs, and an Aga in the kitchen. The stairs have doors at the bottom, which keeps the warmth in downstairs. As you ascend in the winter, the temperature drops with every step up!

It's a tudor, wood and plaster house, and central heating's not a good idea, as it dries everything out too much.