Exactly, that's why I don't moan about it.
Does anyone still think the housing market isn't broken?
- Thread starter Uther
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It's bad up north, but I'm aware it's abundantly worse down south. My parents sold a place in Haslemere, Surrey in 1990 for about £200k I think, to move up to the Wirral. In the past 25 years or so they've worked up to retiring in a massive bungalow that they bought outright a year or so ago for £500k. That house back in Haslemere? Now worth close to a million. My dad always knew if they moved up north they'd never to be able to move south again.
I should stop watching Location x3. A couple buying a 2 bed flat in Putney for £750k. What really angered me was they only had a deposit (lol, "only") of £70k. Doing the maths on that means their payments would be around £3,500/month at current low interest rates. Assuming they're not total clowns and can afford it to go up to £4,000/month for example, all I could think of was why the hell did they not save a bigger deposit? I mean FFS if you can afford to pay £2,000/month each on your mortgage you can damn well save more. Even saving £2,000/month between them would net them £72k in 3 yearsMentalists. Can't wait for the revisit in 2-3 years time when interest rates have risen
(*)
(*Although, given the way the housing market works their £750k flat would then be worth >£1m and they'd probably upgraded to a 3 bed terrace
Where did they live before buying that flat? Presumably renting in a similar location, quite possibly giving £3k a month to their landlord.
Soldato
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It does sound about right, nothing about young folks savings has anything to do with walking out of uni with 20k's worth of debt, nothing all.....
Civil servants and middle managers and above yes, but average Joe Bloggs manual labourer/factory worker etc etc, and Mrs Joe Bloggs possibly with a part time job paying peanuts didn't.
To be fair, student debt is largely irrelevant. No one cares about it and the repayments are tiny when you get round to making them.
Soldato
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- Location
- The Cronx
The attitude of a generation is really defined by the generation that preceedes it. So youngsters can (technically at least!) moan about the oldies but the other way round really doesn’t work 
They didn’t? What about all those stories from those when the car factories went? All those that said they left school at 16 and worked their somewhat life in the car factories? Steelworkers as well. Generations of families did it.
We can but try but the youngsters won't listenThe attitude of a generation is really defined by the generation that preceedes it. So youngsters can (technically at least!) moan about the oldies but the other way round really doesn’t work
No, the point is they did listen and watch. They learned to spend big on credit.We can but try but the youngsters won't listen
The only people that don't think the housing market is broken almost beyond repair are landlords, estate agents and those who managed to get on the ladder more than ten years ago.
The government's idea of an affordable house these days is around £130k. And most Tory MP's are landlords themselves so have no interest or intention of anything changing.
The government's idea of an affordable house these days is around £130k. And most Tory MP's are landlords themselves so have no interest or intention of anything changing.
https://www.google.co.uk/amp/www.te...ls-and-look-at-the-facts-youve-never-had/amp/
Trouble is they want it now ! I
Trouble is they want it now ! I
Cobblers. I'm not buying that at all.
Totally glosses over the issue of not being able to raise a deposit.
Mentions how much you can invest in an ISA as being a tax benefit, as if anyone can afford to invest much at all in an ISA.
Hedges wildly on pensions and speculates on how things will improve.
Goes on about increased access to higher education without any consideration of whether higher education is actually of benefit to the increased number of people getting it.
Sorry it wasn't a DM article.
No, just the telegraph, which is the Mail for people with a degree.
I've added specific criticisms to my post.
I got on the ladder 16 months ago, I disagree that it’s particularly broken. Also £130-150k *is* affordable, especially at the moment with rates as low as they are.
With a 10% deposit you are talking 500-600/month for that value of property. Most people pay more than that in rent.
https://www.ft.com/content/94e97eee-ce9a-11e5-831d-09f7778e7377
I didn't have a holiday for 10 years, to save for my deposit.
I didn't have a holiday for 10 years, to save for my deposit.
True, but while they're paying that in rent it makes saving a deposit for their own place next to impossible.