Actually he's right. If you work 60 hours a week, evade income tax, don't eat, live within walking distance of work... You can do it in just under 4 years.
And boomers wonder why millennials are bitter towards them..
- Thread starter Scam
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Actually he's right. If you work 60 hours a week, evade income tax, don't eat, live within walking distance of work... You can do it in just under 4 years.
Soldato
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It is feasible - a friend of mine worked in baggage handling at an airport when they paid a bit better while still living with parents - had saved enough to buy a house outright by the time he was 25 (ish) which would have been around that kind of money. That was a good few years ago mind (was also a lot of hours).
And again only works for a few individuals. We have a whole generation unable to buy with things only getting worse.
LOL yeah that sounds really appealing for anyone wanting to relocate to another city - apply for your allocated council flat on some random estate, like it or lump it...
Back in reality there is clearly a need for BTL and for whatever reason you seem to think it's the main cause of your frustrations re: the property market yet the previous government already cracked down on BTL landlords and what you don't seem to appreciate is that they're taking on risk too - something that might be realised in coming months depending how Covid pans out.
Caporegime
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Glasgow sounds amazing
Yeah you certainly learn how to handle yourself growing up. A lot of the pansies on here could do with a few years living in sighthill, easterhouse, drumchapel, etc.
We even have the Bucky triangle up here.
There's certain areas like drumchapel where every second male you see will have a chib in their face. That means their face has been slashed and the scar left is kind of a bar mitzvah of sorts a badge of honour to be worn with pride. When you do get slashed you need to invite all your mates to the hospital for selfies and high fives. Because now you are a real man.
Like any place it has it's good areas and it's bad. However it also makes you street smart. Only an idiot would pick a fight in Glasgow as there's a good chance that you will at worst be leaving with a slash on your face that's if they like you. If not so much it will be one to the gut leaving you with a lifetime of issues should you survive.
I know 4 doctors personally on a close level and the stories of some of the things they see on a daily basis is eye opening.
I went to primary school in gallowhill in paisley. One of the roughest areas there is. Fights every day. It made a man out of you. My secondary school was polar opposite in a very affluent area so I got out before I was introduced to all sorts of illegal substances at too young an age. I eventually did meet someone when I worked for the second biggest IT company in the world at the time who went to the same primary school as me and was in my class for a year. He said half the guys were now junkies or in jail.
Anyway it's better than living in a bubble your whole life. Where you just blame every problem on coloured people and immigrants. I was the only coloured person in that primary school. Luckily I was good at football so I was popular, third tallest in my class and could handle myself. It was a crazy place to go to school but I wouldn't change it for the world. I imagine though if I was short, not good at football or handling myself I'd likely have been picked on quite a bit. I ended up playing for both football teams at one point as I could literally play anywhere.
Yeah hence saying feasible rather than easy or even realistic.
One of the problems these days is wages have stagnated - he started on 30K doing that job in IIRC 1995 - these days it starts at 26K - so you are already at a disadvantage before factoring in house prices if that was your intention to save money for.
Soldato
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If half the population lived in them, then they would not be full of scumbags hanging around smoking drugs, that is the problem.
Some very nice high rise flats available, they are just extremely expensive, but for the cost of it, it can be very nice, with gardens and a park, a gym, etc.
No of course i am not trolling
Yea sure, live with your parents, or if you cannot do that for whatever reason, live in the back of a van, work 2 jobs, 7 years is what you have, its a lot of time.
Lot of options, very realistic, the challenge is actually putting in the work, nobody wants to do it.
Thats fair enough that you didnt, neither did i.
The main point is that, crying about other people makes no sense when it was entirely within my control. People here complaining about BTL landlords??
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Caporegime
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I'd rather live in a shed than that dump.
Cracked down on BTL? Laughable.
We have the most unregulated rental market you can imagine compared to France/Germany, etc.
There may be some risk for the inexperienced, or those who just have one or two properties which they manage entirely themselves. That's their funeral. There are many more ethical ways to make money than bleeding the poor dry.
But for the big players there is virtually no risk at all. Just guaranteed income streams. There are a couple of millionaires who run a lot of the student accommodation near where I live. They are incredible penny pinching and refuse to fix things properly if they can bodge them (including disregarding safety standards). Absolutely minted and in the present circumstances, no risk at all.
Heck, even if you're one of the assclowns running the "slum type" rental properties, you can largely get away with murder. Councils don't have the resources to go after all of these people.
No really, my heart bleeds for the poor BTL landlords struggling to subsist whilst someone else pays off their mortgage. It really does, you know.
Caporegime
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I don't know jack about Scotland, but every time somebody compares their laws/regulations with ours, I get the impression they are a whole lot more concerned with the wellbeing of their ordinary folk than we'll ever be.
e: Glasgow notwithstanding.
Caporegime
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It's not all like that. There are some really nice places to live and I have lived in 2 of the best places to live in Glasgow.
https://www.rightmove.co.uk/new-homes-for-sale/property-97089095.html
That's one of the best areas to live in and so long as you stay within its boundaries you would never know of the horrors happening 5 mins away.
Caporegime
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It's one of the great things about sturgeon she truly wants to better the conditions for the poor. However she also wants independence which tbh with Brexit wouldn't be a bad thing for us. I do t care about the pound now either because this government has and will continue to drive it into the ground with this pandemic.
She even pleaded with Boris to let everyone on Scotland get a universal basic income as a trial for a year or two but didn't go down well. But I truly believe the government would see that money back over time thanks to increased education, more money means more jobs which means more taxes and more money being spent. It would eventually reach its way back to the treasury.
Because it's undeniable that BTL landlords (the profusion thereof) has made things worse.
The more BTL spirals out of control, the more difficult it is to get on the housing ladder.
Mainly because many BTL "investors" target the lowest end of the property market. By design.
Soldato
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Umm, are you living in the same reality as the rest of us?
Y'know, the one where nobody's gonna employ someone who lives in a ******* van?
Back in the real world, even people who dont do mickey mouse qualifications are starting their working careers up to their eyeballs in debt before they can even think about the housing ladder.
Caporegime
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The best market is the wealthy foreign student market.
Find a highly rated university or the highest rated one within your major city.
Buy properties close to that as possible. Won't be cheap at all. However your rent will be great, they won't screw you as they don't want a black mark for when they eventually want to live here permanently and because it will be central the price of the property will go up a lot faster and higher than slum properties.
I wouldn't touch slum properties with a bargepole now. You have to pay £15k-£20k when they eventually move out to renovate it up to standard after 15 years on a property worth £60k. That is literally pointless and losing you money.
This is a very single male with no dependants centric suggestion.
This is the problem with this thread - so many posters not taking into account the wider variety of situations.
Soldato
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You make a good point but its not my job to solve every problem that exists, better do it, then sit on forums complaining about how you cannot buy a house.
We are talking about lower end jobs, i have no idea, a PO box? Pay someone money to have mail delivered to their house, a friend? Relatives?
What debt, a student loan? The one that charges 9% over £25k or £18k? That's not a concern.
I know plenty of people who work multiple jobs and earn enough to be able to save at that rate (low paying jobs) its entirely feasible to save £1200 a month.
Dependents cost money, as does being social or dating. You cannot say i have kids, you chose to have kids etc
But there is no reason why a woman cannot do this
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Soldato
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So you profess that it's "easy" to accumulate 100k in savings by age 25 yet you have no idea how to address the practical realities of doing so.
And we're meant to take you seriously?