Young people feel robbed of a better life but they don't know what to do about it

Dyson said:
Think I'd rather be buying someone else's house for them personally - each to their own though.
Click to expand...

Let me break it down. When you take home £1000 per month after tax (avg wage in Cornwall is about 16k), having to turn over 1/2 of that to some **** of a landlord who barely maintains the place, for a one-bedroom place with a shared kitchen/dining room, is not on my list of things to do before I die :p
 
Nitefly said:
I refuse to believe that you can't share a flat in Cornwall for less than £500 a month. I can see a bunch on gumtree.
Click to expand...

Yeah, rightmove has loads of one bed flats and studios for around the £325-350pcm mark (lower if you want a house share). Which compared to here in Salisbury is cheap as chips.
 
Last edited:
Well certainly not in Truro where I live currently. There are cheaper places like Camborne and Redruth, but if you own a TV there you'll get burgled and lose it within a week ;)

Where those places on Gumtree in Camborne or Redruth?

The £500/month for a tiny little place is not an exaggeration. It's genuine. It's the rate my brother paid in a not-so-great area just outside Camborne. Fortunately he moved away before he could be murdered.
 
Castiel said:
I see people in there early 20s buying their first home all the time these days, when I was 20, I didn't know anyone who could even consider buying a house at that age.
Click to expand...

Step away from the crack pipe - you appear to think it's the 90's again.

The time of 100% or even above that has long since past - your average 20 year old has absolutely no chance of getting a mortgage without an average 20% deposit.

Home ownership is at its lowest rate in three decades - it is not increasing as you suggest, but in decline. The number of first time buyers in their 20's has decreased over that period significantly.

http://www.bbc.co.uk/news/business-17026462 <--- Just one of the many recent articles.
 
Last edited:
Hellsmk2 said:
Step away from the crack pipe - you appear to think it's the 90's again.

The time of 100% or even above that has long since past - your average 20 year old has absolutely no chance of getting a mortgage without an average 20% deposit.

Home ownership is at its lowest rate in three decades, and the number of first time buyers in their 20's has decreased over that period significantly.
Click to expand...

Then how did the 22 year old intern at my place of work just buy his first house (a two bed new build) with just 5% deposit? (he earns 21k pa)

Besides, I am not taking about the 1990s, but my generation, which is the two decades prior to that.

Also the one figures dispute what you are saying, with home ownership only falling since 2001 and not significantly when compared to 30-40 years before and much of the increase was caused by the right to buy in the 1980s...home ownership has fallen by 5 percentage points in the last decade after seeing increases since 1918 and a relatively static period in the 1990s. It isn't at its lowest point since 1980 as in 1980 homeownership was significantly lower than it is today.

http://www.ons.gov.uk/ons/rel/censu...england-and-wales/short-story-on-housing.html

I think everyone realises there is a housing shortage in the UK.
 
Last edited:
FoxEye said:
Well certainly not in Truro where I live currently. There are cheaper places like Camborne and Redruth, but if you own a TV there you'll get burgled and lose it within a week ;)

Where those places on Gumtree in Camborne or Redruth?

The £500/month for a tiny little place is not an exaggeration. It's genuine. It's the rate my brother paid in a not-so-great area just outside Camborne. Fortunately he moved away before he could be murdered.
Click to expand...

From what I can see some of them are.

Sounds like you need to move to somewhere with more opportunities.

By the way, £500 for a whole place is insanely good compared to what you'd pay round my neck of the woods.
 
It wasn't great, trust me. Was an old miners cottage, and had really, really bad damp. The walls were literally mouldy. Was making him and his GF ill. As usual, landlord couldn't give two figs. Good job our rental market is largely unregulated, eh :) Compared to Europe anyhow...
 
Muffin` said:
If houses are too expensive then wouldn't prices be falling? Also why do banks continue to give out mortgages? The money for mortgages is there and people are still coming up with the deposits so won't it just continue to grow?
Click to expand...

Why would prices fall when mortgages are so cheap? If a deposit isn't an issue (due to existing property, savings, investments or a gifted deposit from family) then the current cost of buying a mortgage is just silly.

Prices are largely being driven up from the bottom, fuelled by the current 'Buy-to-Let' land grab (which is, in turn, fuelled by the low interest rates), as well as the government's Help to Buy schemes and other, similar schemes designed to make it easier to build a deposit ('Save-to-Buy', 'Lend a Hand' etc.). As interest rates rise, mortgages will become less affordable again and the market should slow.
 
Nitefly said:
I refuse to believe that you can't share a flat in Cornwall for less than £500 a month. I can see a bunch on gumtree.
Click to expand...

Unless you don't mind periodic trips to the local county court to reclaim unpaid rent from the other tenant and losing your security deposit because they were a slob, moving in with someone you don't know is really not a good solution either.
 
Castiel said:
Then how did the 22 year old intern at my place of work just buy his first house (a two bed new build) with just 5% deposit? (he earns 21k pa)

Besides, I am not taking about the 1990s, but my generation, which is the two decades prior to that.

Also the one figures dispute what you are saying, with home ownership only falling since 2001 and not significantly when compared to 30-40 years before and much of the increase was caused by the right to buy in the 1980s...home ownership has fallen by 5 percentage points vet the last decade after seeing increases since 1918 and a relatively static period in the 1990s.

http://www.ons.gov.uk/ons/rel/censu...england-and-wales/short-story-on-housing.html

I think everyone realises there is a housing shortage in the UK.
Click to expand...

I'm confused by your last point - your link shows home ownership in decline, which is exactly what I said.

Also, one 20 year old does not equal normality. You really should know better than that.

I'd also point out that a 5% deposit is still out of reach for most folk in their 20's, especially when you consider how much house prices have continued to increase. I had to put down a 20k deposit for my pace... the only 20 year olds with that sort of money to hand are very few and far between (or use the bank of mum and dad)
 
satchef1 said:
Why would prices fall when mortgages are so cheap? If a deposit isn't an issue (due to existing property, savings, investments or a gifted deposit from family) then the current cost of buying a mortgage is just silly.

Prices are largely being driven up from the bottom, fuelled by the current 'Buy-to-Let' land grab (which is, in turn, fuelled by the low interest rates), as well as the government's Help to Buy schemes and other, similar schemes designed to make it easier to build a deposit ('Save-to-Buy', 'Lend a Hand' etc.). As interest rates rise, mortgages will become less affordable again and the market should slow.
Click to expand...

Of course there is an alternate outcome, whereby interest rates go up, people default on their mortgages, and the only people who can afford to buy these houses at auction are the buy-to-let people, expanding their property portfolios.

So you end up back in the Victorian era, where the gentry own the land and all the property, and the plebs/peasants/commoners work for them on their estates.

Call me a pessimist, but the growing gap between rich and poor is going to get wider. Everyone is predicting this as it's been happening relentlessly over the past couple decades. This trend will likely continue and we'll really start to see the results of this in the next 5-10 years.
 
Energize said:
Unless you don't mind periodic trips to the local county court to reclaim unpaid rent from the other tenant and losing your security deposit because they were a slob, moving in with someone you don't know is really not a good solution either.
Click to expand...

That's just silly. Loads of people, including myself, live in such arrangements.

I don't think he'd dare for the can of whoop ass I'd open :p
 
Hellsmk2 said:
I'm confused by your last point - your link shows home ownership in decline, which is exactly what I said.

Also, one 20 year old does not equal normality. You really should know better than that.

I'd also point out that a 5% deposit is still out of reach for most folk in their 20's, especially when you consider how much house prices have continued to increase. I had to put down a 20k deposit for my pace... the only 20 year olds with that sort of money to hand are very few and far between (or use the bank of mum and dad)
Click to expand...

No one is disputing less people holding mortgages over the last 10 years, but you stated that it has been in decline for 30 years, which it hasn't. With homeownership still higher than it was for my generation..which is what I was saying and you were so rude about.

As far as 20 year olds are concerned, it is not as if 20 year olds were all buying prior to 2001 either...and the one chap is an example that 95% mortgages do exist and people on average earnings (less and average in this case) can buy a house, which contradicts the 'absolute no chance' you stated... Fact is that house ownership was out of reach for most 20 year olds at pretty much most times, not just today and if someone in there 20s with an average income wants to buy a house and prioritise their lifestyle accordingly, it is not out if their reach, especially with the incentives available to first time buyers at the moment.

There appears to be a lot of misconceptions bandied about here, yes its expensive to buy a house today, but there is also far more options available to help people get on that ladder.
 
Last edited:
Anyone on a lowish income taking out a 95% mortgage does not "own" their own home. Not even close!

I can't think of a more precarious situation to be in, with interest rates at a historic and unsustainable low.

Why we even have such a possibility is beyond me. Seems common sense never really applied to the housing market.
 
FoxEye said:
Anyone on a lowish income taking out a 95% mortgage does not "own" their own home. Not even close!

I can't think of a more precarious situation to be in, with interest rates at a historic and unsustainable low.

Why we even have such a possibility is beyond me. Seems common sense never really applied to the housing market.
Click to expand...

Anyone with a mortgage doesn't 'own' there home by that definition.
 
Which would be correct people with a mortgage do not own thier homes. They drive a nice car too paid for by higher purchase. They own nothing the bank owns everything and if there was no bank or anyone to lend they would be living at home with mum like the kids from years gone by. Without banks most of us own no more than we would a hundred years ago which means nothing but the clothes on our backs.


The whole system is designed to inpoverish and destroy family wealth for everyone but the upper class. The game is fixed like the erosion of familys. For example now people are forced to work double jobs due to the bankers. Instead of the Asian or older Western method of the females looking after the kids and elderly and the man working.


Purposely designed economic pressure and professional female roles now has both parents working, The kids in pre school and with babysitters. And Granny gets stuffed in a care home to be abused and destory all bonds with both Granny and the children. But the ingenius bit of this design by the elite is that not only will it erode family values it will erode the family wealth and boost the UK GDP by creating jobs that need not exist. For example if you put on enough pressure for the family to put Gran in a home you now create a job for a care home worker. The kids will create a job for the babysitters and preschool. And you yourself will have a job probably doing one of the above or if talented in a professional role.



So instead of everyone at home and dad out to work and the family in a lower tax threshhold, Now there are all these fake state employees doing it and putting thier familys further into the tax bands. Granny in the home will also leave your family ripe for care home fees and inheritance tax. And you lose all the family bonds as well. To be fair they deserve a pat on the back for designing such an evil scheme. It really is cruel and brilliant and will make sure that the poor are kept firmly poor as thier kids starting out will have nothing but the problems in my first paragraph.
 
Last edited:
You must log in or register to reply here.
Back
Top Bottom