Way above what is acceptable for their lack of education when compared to degree educated professionals IMO
I sense some butt hurt here, or am I reading it wrong?
I'm talking about professional degree's not media studies :roll eyes: you know the ones where you get a job, no plumber should earn more than a junior doctor
Why not? A persons work is worth whatever people are prepared to pay them. Why is a junior doctor worth more than a plumber? They are both valuable assets to the country as a whole.
But what does that prove, exactly? Do you know how many of those homes were bought to live in? It's theoretically possible (tho totally improbable) that every house you've seen sold was bought by a BTL landlord or overseas investor.
Current figures suggest that circa 50% of all sales both last year and so far this year have been by first time buyers.
The fact that houses are selling means what? Everything's OK?
No it means buying a house is possible and the problem, whilst still a major issue, is being somewhat exaggerated by people like you. People sitting on healthy cash sums but refusing to buy because they don't feel it is value for money, for example. Then those self same people bemoan the market and disingenuously claim they cannot afford to buy when the reality is that they simply don't want to because their sense of entitlement dictates they should be getting more for their money like their parents did.
The BoE is worried. Economists are worried. Heck, even estate agents are worried. And the whole market is only being sustained by interest rates close to 0%, along with schemes like HTB.
Yup, we need more houses to be built. But people need to put their money where their mouth is. NIMBYism is just as much of a threat to the housing situation as high property prices. It is OK to come on a forum and set the world to right but how many here would
not oppose a new development on their doorstep that would likely reduce the value of their home? Would you? Or would you fight it tooth and nail to preserve your investment? Personally I have refused to to oppose two such proposals for my local town, and one is literally planned a stones throw from my house. So much so they want to put an access road through a house I can see from my front window and have offered the owner above market rate to sell. My neighbours are up in arms over the plans but I find it deliciously ironic that those same neighbours also tell me how their 20 something old kids are struggling to afford to buy a house.
Whilst I still have some serious reservations about the planning application in regards to the infrastructure, schools and local services and so forth these issues can't be tackled over night. In the long run, I think it will bring investment into the town.
Then factor in that the people who can buy are increasingly only able to do so with financial help from parents. And that the average age of first time buyers keeps going up. And that more and more people in their 30s are still living at home.
All these trends point to a healthy housing market, right?
This is a trend that will settle as people start to accept that buying a house needs to be a life priority and something that has to be planned for in advance. I can see how it is currently a shock for those who are so used to having everything right now at their whim, but you cant make an omelette without breaking a few eggs.
So we need more properties to be built (obviously). Less NIMBYism. More forward planning by younger generations. Less of an entitlement attitude. Profit.
Not sure we want to be building all over the place though at the expense of the countryside, etc. - though high rise and other innovative developments would help there.
I think as much as there might be some increased expectation or even sense of entitlement at a younger age there is also a fairly big aspect of past generations enriching themselves at the expense of the ones that come after them which needs a certain amount of balancing out. (To a certain amount with commodities, etc. I'm not a fan of meddling but when it comes to housing ultimately its a basic right or should be).
We have to build somewhere. What is more important, green spaces or housing for an ever increasing population? Or are you in favour of new housing projects just as long as they are not in your back yard?
The world was different for previous generations. As I mentioned in another thread a while back - house buyers in the 80's got clobbered with high interest rates, house prices tripling in the space of 10 years and high unemployment. They worked just as hard, if not harder than all of us. I certianly know my parents worked harder than I have, and got paid less. Some people here seem to have short memories, though.
