Frustration of a market on a knife edge!

tomatopuree

neas wrote: »

Your quite experienced at arguing on the internet at least, seen as you've parading this thread for over a 24 hour period, and try to put down anyone disagreeing with you with venom

I think MrSafeGaz has done remarkably well not to resort to the pretty disgraceful posts you and mr.broderick have cobbled together during this thread. It's the first time I have seen anything like it on these forums and I thought it was really, really uncalled for.

neas

tomatopuree wrote: »

I think MrSafeGaz has done remarkably well not to resort to the pretty disgraceful posts you and mr.broderick have cobbled together during this thread. It's the first time I have seen anything like it on these forums and I thought it was really, really uncalled for.

You are right im sorry. I overreacted because I couldnt see myself doing the same thing to my family. I felt strongly about it and was mean.

I still think staying with your family when you can rent.. is putting a burden on them.. whether they say so or not.

neas

Gaz, Im sorry.

I acted immaturely myself, if you want to stay at home with your parents and they are cool with it, its your situation.

I apologise, Lets bury the hatchet and agree to disagree . Bringing personal things into it doesn't add anything, just leads to mud-slinging.

In regards to your original question if you don't want to rent.. stay with your parents for another year or two.. itll take two years minimum imo to bottom out this HPC... and the economoy will be in a bad position with mortgage rates quite high as happened last time.. (13% mortgage rates lol). So the longer you are prepared to slum it the better.

tomatopuree

neas wrote: »

You are right im sorry. I overreacted because I couldnt see myself doing the same thing to my family. I felt strongly about it and was mean.

I still think staying with your family when you can rent.. is putting a burden on them.. whether they say so or not.

In a way I totally agree with you. I've not lived at home for almost 6 years now and I'd hate to have to go back (I'm 25). My wife and I get on really well with my parents, the four of us even went on a brilliant holiday together last year (which they all but paid for). We may have to live there for a while in the next couple of years as I try to establish myself in my career whilst trying to pay off the huge debts I've taken on to train.

It is important to live away from home, but the OP and others on here have lived away from home already. Even just doing it at university gives you that experience and that independence.

There is nothing wrong with living back at home whilst saving for a deposit, it is truely the best way to save a lot of money fast. My wife and I are renting and due to all our outgoings saving is next to impossible. My parents would love to help us out with money towards a deposit (we have £5k stashed away already) but it'd be much easier for them to help us by giving us free/cheap boarding instead. They've offered to be guarantors on a mortgage and borrow to help me pay off some of my debts. The last thing I'd want is for them to help out in this way, so letting us stay there for 6 months for free would be a great compromise.

There are little extra things like the fact I cook. I'm a pretty good cook (if I may say so myself ) and could put in my fair share of time in the kitchen each week. I could help clean the house etc. These kind of benefits would be much more useful to my parents than some money each month.

The OP and others are doing the right thing and saving up some money, which if they may choose to spend on a deposit or whatever. That shouldn't be mocked, no matter how they go about doing it! :cool:

neas

tomatopuree wrote: »

In a way I totally agree with you. I've not lived at home for almost 6 years now and I'd hate to have to go back (I'm 25). My wife and I get on really well with my parents, the four of us even went on a brilliant holiday together last year (which they all but paid for). We may have to live there for a while in the next couple of years as I try to establish myself in my career whilst trying to pay off the huge debts I've taken on to train.

It is important to live away from home, but the OP and others on here have lived away from home already. Even just doing it at university gives you that experience and that independence.

There is nothing wrong with living back at home whilst saving for a deposit, it is truely the best way to save a lot of money fast. My wife and I are renting and due to all our outgoings saving is next to impossible. My parents would love to help us out with money towards a deposit (we have £5k stashed away already) but it'd be much easier for them to help us by giving us free/cheap boarding instead. They've offered to be guarantors on a mortgage and borrow to help me pay off some of my debts. The last thing I'd want is for them to help out in this way, so letting us stay there for 6 months for free would be a great compromise.

There are little extra things like the fact I cook. I'm a pretty good cook (if I may say so myself ) and could put in my fair share of time in the kitchen each week. I could help clean the house etc. These kind of benefits would be much more useful to my parents than some money each month.

The OP and others are doing the right thing and saving up some money, which if they may choose to spend on a deposit or whatever. That shouldn't be mocked, no matter how they go about doing it! :cool:

You are correct, although controversial to some its still moneysaving and its the fastest way to save a deposit . If you can put up with your parents and your parents can put up with you then do it i guess.

Just be prepared to leave if they hint at it lol, nobody wants a perpetual lodger

jamescredmond

Walter_J wrote: »

Exactly the points I was going to make.

The housing market is starting a crash just like it did in 1989.

Buy a place now and it will likely be 12 years before it is worth the same amount again. You will have paid mortgage interest for twelve years and have absolutely nothing to show for it! Your money will be just as dead as if you had rented for twelve years.

Do not buy a flat! They are nothing but trouble. They will lose value more than houses in the crash, and they always have problems surrounding management companies. Rent a flat or go into a house share until you are coupled up, bide your time, save hard, and look to be buying in around five years time when prices have stopped falling. Most importantly, keep your credit record clean. Mortgages will be hard to get with a less than perfect record.

this is good advice, and the OP should take it.

I would only question the '5 year' suggestion.

2 years should give a clearer picture.

can mrsafegaz hang on?

can he save hard?

can he resist the temptation to go out 'on the lash' every w/end? (and I don't mean living like billy-no-mates, only that he cuts down)

can he maintain a good credit rating?

only he can answer any of the above.

with a steady job, reasonable income and no major liabilities this guy's in clover, even if he doesn't know it, and in prime position to enter the market when the time is right.

carolt

I 've refrained from commenting, as living with parents is not my current field of expertise...

For the record, whilst I might not have thought a 25 year old who lived at home was weird, when I was 25, it might have hindered the full flow of a relationship, shall we say....?

Personally, whilst I can see that living with parents to save money is a valid thing to do, if your parents are happy with it, I do think not paying them any rent or bills when you can afford to save lots yourself/go out and enjoy yourself, is a bit immature and mean.

I also, personally, find all the 25 year-olds on here desperate to buy a house and 'get on the ladder' quite scary - whatever happened to enjoying yourself..? The idea that prices can only ever rise and you must be 'on the ladder' at all costs, in case you 'miss the boat' are such wrong, WRONG assumptions to have at the moment. I remember the last crash only too well, and believe me, it won't be long before you are so GLAD you were too young to take out a mortgage...

The weekend's news re Bear Sterns, and the malaise in the world's financial systems is terrifying, whether or not you own a property.

You're only 25 - at the risk of being horribly patronising, I'd say that while 25 seems very old when you are 25, it isn't actually. There's plenty of time to buy a house - 25 is a good time to: have fun, go out, travel, progress in your career, meet that 'special someone' etc.

Enjoy!

pavlovs_dog

neas wrote: »

Whose socially less !!!!!!?

shame all the social experience that you seem to enjoy boasting about couldnt buy you some common courtesy and some manners :rolleyes:

surely, as someone who is so used to house shares and living with other people, you of all people should be well versed in tolerance, and be able to understand that it's different strokes for different folks? just because its not right for you, doesnt mean it isnt right for others. far be it for you to pass judgement. present your point of view, by all means, but the way you have tried to shoot mrsafegaz down in flames has done little but make you look silly and immature.

your argument, which i actually think was a fair point, has been largely lost in your silly little squabble last night.

are we draining our parents resources? i dont believe we are. we pay our way, pull our weight around the house, and have no intention of accepting handouts from them when we do eventually fly the nest. the whole reason of us being here is that we can save, it would be wrong to then accept hand outs from them in my opinion. My b&sil did it the other way around, moved out asap, but then had all sorts of financial handouts to help with the house. is one worse than the other? our parents have chosen to help, its not as if it is expected of them. as for taking up their time together,alone - we're social people and we enjoy the company. but should we want to go and do our own thing, we are fortunate that we have enough space to do that.


you state that an advantage of renting privately is

neas wrote:

we have the freedom and pride to live privately alone... so we can have 'our' time together without the intrusion of parents or family members.

is living with parents any different to living in a house share in that respect? in a shared environment there is always going to be someone listening to you sing in the shower and making the mattress creak the idea of not having anyone listening in is blissful, and is a major motivator in our savigs efforts, granted. but if it wasnt our parenst listening to every detail of our life, it would be a housemate. personally i dont feel that 'who' that person is makes all that much of a difference


in some cultures, the ideas of moving out of home ASAP is alien, and its probably the norm rather than the exception to see several generations of the same family living communally. certainly with the economy wobbling as it is, i for one expect it to become even more prevalent here in blighty.

if you can afford to rent privately, save for a deposit, save for a wedding, and maintain and acceptable standard of living then you are to be congratulated. unfortunately, we arent all in that position. if we were to rent privately, even in a houseshare, i wouldnt be able to finance the rest of my course. once we had paid all the bills, we'd have sod all left at the end of the month. living in our parents basement is a necessity as much as a luxury, and is enabling us to set ourselves up for a reasonable quality of life once ive qualified and am earning a proper wage.

the rights and wrongs of it all are debatable, but i know that given their ages (both pushing 60), its only going to be a matter of time before we return the favour and have our elderly parents live in our 'basement'. circle of life - marvellous stuff.

neas

I can see the comparison with Parents being like sharers. I just don't like the thought of hearing my parents making love as well as them hearing me. A little bit awkward. My parents house is a 3 bedroom so walls are thin lol.

If you dont midn sharing sexual noises then its fine. Everyones different .

And as i said Im sorry for overreacting. Just thought it was funny I was called lacking social experience after doing the uni thing and sharing a house for 2 years, then getting married with a house sharer. Just didnt make much logical sense :P. Perhaps if I was a lone person, saying I never went out and i lived at home.. then i'd be devoid of social experience :P.

But your right two sides of coin, its about whats acceptable to an individual. I'd still feel bad for not offering to pay any share (however small) towards board or bills or use of utilities :P.

neverdespairgirl

neas wrote: »

You are 25, Living at home with your parents with minimal saved deposit, you still behave like a 18 year old university student by going out every friday/saturday, you've never truly been responsible for a house.

When I was 25, I was going out at least 5 nights a week. I was also working full-time (I'd just qualified as a barrister) so not exactly a parasite on society.

Now I'm 30, have a 2 year old son, and my life has changed. But that doesn't mean I see anything wrong with other people going out a lot.

I never really drank, so didn't ever have hangover issues (-: