Frustration of a market on a knife edge!

mr.broderick

MrSafeGaz wrote: »

Well 10 years ago house prices were on average about 3 times the average income. I can safely say that if that were still the case then I would buy a house instantly. However, since house prices are 5.5-6 times the average income now, I am inclined to save up a sizable deposit to dampen the effect of that ratio a little.

Brainwashed? I don't think so. A grasp of simple mathematics and the ability to do a little historical research is more than enough to back up any claim that buying a house is more difficult in the current climate.

Don't understand this bit.

MrSafeGaz

mr.broderick wrote: »

I'll bow to your experience of buying houses, i've bought 6.. you?

Congratulations? I find both your arrogance and the fact that you believe this fact to be of any relevance highly amusing. Even if you didn't want to take the time to dig up the figures, it is always littered in the media. First time buying is harder now than it has been for a long time. I am sure some of the people who state this have bought more than 6 houses.

Therefore, by your logic, these people must be right since they have bought more houses.

That would be your cue to start bowing down then.

bristol_pilot

You can save for a deposit while housesharing - the rent & bills could be only about a quarter of what it costs to live alone.

10 years ago it was much easier to buy a house than the situation today, but 18 years or so ago 'my generation' had many of the same problems as the OP is on about. House prices were 8 times incomes IIRC and I was only able to buy that flat by taking a job up north - I could never have afforded it in Bristol.

I can't get over the OP's comment that his social life would deteriorate if he stops living with his parents. There's more to social life than money - being able to bring people back home for a start.

useless

Work out how much you will be paying back in mortgage interest and you may think again about the rent. It's quite scary.

You just have to make a decision - parents, rent, or buy - none are ideal but pretty much everyone our age is facing the same problems.

mr.broderick

MrSafeGaz wrote: »

Congratulations? I find both your arrogance and the fact that you believe this fact to be of any relevance highly amusing. Even if you didn't want to take the time to dig up the figures, it is always littered in the media. First time buying is harder now than it has been for a long time. I am sure some of the people who state this have bought more than 6 houses.

Therefore, by your logic, these people must be right since they have bought more houses.

That would be your cue to start bowing down then.

90% of the looneytunes on here looking to buy havent got a penny deposit they make me laugh and you are doing the same at this very minute. Never roughed it.

mr.broderick

bristol_pilot wrote: »

You can save for a deposit while housesharing - the rent & bills could be only about a quarter of what it costs to live alone.

10 years ago it was much easier to buy a house than the situation today, but 18 years or so ago 'my generation' had many of the same problems as the OP is on about. House prices were 8 times incomes IIRC and I was only able to buy that flat by taking a job up north - I could never have afforded it in Bristol.

I can't get over the OP's comment that his social life would deteriorate if he stops living with his parents. There's more to social life than money - being able to bring people back home for a start.

I really dont agree with this the lending criteria was 10 x stricter !!!!!!!!!!!!!!!!!!!!!!!!!

MrSafeGaz

bristol_pilot wrote: »

You can save for a deposit while housesharing - the rent & bills could be only about a quarter of what it costs to live alone.

10 years ago it was much easier to buy a house than the situation today, but 18 years or so ago 'my generation' had many of the same problems as the OP is on about. House prices were 8 times incomes IIRC and I was only able to buy that flat by taking a job up north - I could never have afforded it in Bristol.

I can't get over the OP's comment that his social life would deteriorate if he stops living with his parents. There's more to social life than money - being able to bring people back home for a start.

Two of my friends have recently bought their own houses alone. They are both on above average incomes. Where as before moving out they were able to go out on the town both Fridays and Saturdays each weekend they are now reduced to being able to go out once every fortnight. You have to be able to afford to go out to meet someone to bring back. Vicious circle and all that

It does depend on your definition of 'social life' I suppose but for me, socialising is an expense and one I am happy paying and having less money would certainly deteriorate it somewhat.

neas

Im a FTB.. and i rented out for 250 a month with 3 other people in a 4 people houseshare with all bills included.

I think you just sponging. Bit too spoilt to really get out... seriously living at home with parents is... well nerdy to say the least.

Ever heard the term "Living in parents basement"?

Comes to mind lol.

Im same age as you, i did the whole houseshare thing straight after leaving uni, now found my fiancee and have saved 20k jointly for a deposit on a house. While staying at home does have the financial benefits... how could you have a serious relationship with someone when your immature and live at home?

Love it how you totally disregard sharing with others... whats 250 pound a month going to do to your 'savings'? You got any self dignity?

And i understand wholely how hard it is to buy a house but renting has always been an option but i think you liked living at home to screw your parents some. I bet you dont even pay them upkeep... like towards bills, food, council tax...

You got a whole lot of catching up to do...Theres financial bonus and then theres the 'Life' bonus... and sharing for £250 a month is hardly alot..

mr.broderick

MrSafeGaz wrote: »

Two of my friends have recently bought their own houses alone. They are both on above average incomes. Where as before moving out they were able to go out on the town both Fridays and Saturdays each weekend they are now reduced to being able to go out once every fortnight. You have to be able to afford to go out to meet someone to bring back. Vicious circle and all that

It does depend on your definition of 'social life' I suppose but for me, socialising is an expense and one I am happy paying and having less money would certainly deteriorate it somewhat.

Judging by this you aren't mature enough to buy a house on your own. I don't know you but you strike me as someone who lives at home with his parents rent free. I doubt you would survive in the real world. Bit of a puffter one might say.

mr.broderick

neas wrote: »

Im a FTB.. and i rented out for 250 a month with 3 other people in a 4 people houseshare with all bills included.

I think you just sponging. Bit too spoilt to really get out... seriously living at home with parents is... well nerdy to say the least.

Ever heard the term "Living in parents basement"?

Comes to mind lol.

Im same age as you, i did the whole houseshare thing straight after leaving uni, now found my fiancee and have saved 20k jointly for a deposit on a house. While staying at home does have the financial benefits... how could you have a serious relationship with someone when your immature and live at home?

Love it how you totally disregard sharing with others... whats 250 pound a month going to do to your 'savings'? You got any self dignity?

Beat me to it big boy ...:T