And boomers wonder why millennials are bitter towards them..

randomshenans said:
Thing is, if you want to get on the ladder you need to start at the bottom with a flat and give up all the luxuries; you don't need a million monthly subscriptions, gym membership, expensive car, eating out. House share or live at home and save it all. Depends how hungry you are for it. Suck it up and reap the future rewards. Or don't, and blame everyone else for the fact you can't afford it while you're posting on your expensive phone / gaming PC...
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This so much. I met some cool people house sharing, and some horrendous people. But I saved a lot of money despite it being London. Wasn't the best time of my life, but it was worth it.
 
There isn't enough space for everyone to live within a comfortable commuting distance of central London, house prices reflect this. If you'd like to own a house there are plenty of affordable houses within commuter distance of other major cities that aren't London, you'll probably also end up having more money left over at the end of each month even on a lower wage.
 
Tefal said:
So you advice for young people is to enter into a very serious contract with another person that realisticaly is going to be a longer term than they've been alive at that point?

It's not really a useful argument is it?
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No, but its stinks of truth :)
 
Scam said:
So, the house opposite me has just gone up for sale for £1.7m (disclaimer, I merely rent a flat opposite, this isn't some sort of humblebrag). Being the nosy neighbours we are, we found out that the owners (a couple aged probably early sixties) bought it 14 years ago for just shy of £800k.

Doing some simple maths means that house has increased in value by roughly £900k in those 14 years. WTF. Absolutely insane. I'm not surprised for this area, but jebus wept..

I was thinking about it further, and I actually left university 14 years ago and began my working career. I don't do badly, but do you think I earned an equivalent amount as that house did every year, for 14 years straight? The heck I did.. :rolleyes: :mad: Perhaps I should have transformed myself into bricks and mortar and sat there doing **** all for 14 years, I would have earned more! :o :mad:

/pointless thread is pointless
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I am one of the lucky ones and gained from the market. Bought our house in 1999 for £95k and current value is £550-£600k so not a bad gain for 21 years since we are "up North"

I feel sorry for anybody trying to get on the housing market these days,
 
FoxEye said:
You might not think it's a problem that low earners are locked into paying more in rent than they might pay with a mortgage on the same property, but many of us see that as exploitation of the poor by the rich.
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This is somewhat misleading. Sure they may be paying more in rent than they would on a mortgage, but they also don't have to worry about paying for maintenance, and potentially having to fork out 4+ figures on short notice if the boiler fails or the roof blows off. Something to be factored into those "savings". They also don't have the risk that the house drops in value, leaving them in negative equity.

Psycho Sonny said:
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.
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That sounds suspiciously like my experiences growing up in Glasgow as well.

There was always that moment of terror when someone asked you "do you support Rangers or Celtic?"... :p
 
I think the labelling of your statement is a little unfair, though having said that I am incredibly bored of the older people in my workplace insisting I learn to drive to make things 'easier'. I think a lot of people of that age forget that those of us working near minimum wage don't really have that choice. You either pay rent or you get a vehicle. I don't earn enough to have a choice in that regard. Similarly the same with regards a mortgage, it just isn't an option. Even if me and my GF put together for it, we'd still have to sacrifice a great deal to be able to do it. I used to be bitter about it all, but now it's just a thing that I've accepted. Chances are I will never be able to live comfortably enough to own a house.
 
I think that you just have to do everything you can and make a lot of sacrifices to get on the ladder these days, as well as being more patient. And be prepared for it to take even longer if you have no flex on location.

Worth it though

Edit: not saying its possible for everyone - E.G if you doing a 40 hour week on minimum wage in London then forget it (and what the hell are you doing!)
 
Travelling this week so can't keep up. Sorry chaps.

FoxEye said:
They're actively buying up all the starter houses. The "cheapest" housing on the market. Purely to deny it to the lowest earners and to force them into servitude via paying rent.
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This point could have had it's own thread on why millennials are bitter. It's not just the fact that houses are astronomically expensive, but the boomers actively expect you to pay off their second/third mortgage to ensure they can live in the lap of luxury (being retired at 55 obviously), whilst nullifying your chances of saving that extortionate deposit because it's all going on rent.

Psycho Sonny said:
Take landlords out of the equation. Renters cannot get a deposit together.
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Take your average hobbyist BTL landlords out of the equation and we wouldn't have had astronomical price inflation, and people could save a deposit within a year or few.

Psycho Sonny said:
Rent is based on supply and demand.
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Except there's massive supply of poor quality rentals, yet consistently high rents. Why is that? (Don't reply, I know the answer).

Greebo said:
I am one of the lucky ones and gained from the market. Bought our house in 1999 for £95k and current value is £550-£600k so not a bad gain for 21 years since we are "up North"
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Roughly £20k per year is decent for a £95k outlay (I'm sure your deposit was a small percentage of that anyway). Now can you keep posting this every 5 posts or so? Because apparently London is the problem and this doesn't happen anywhere else :o ;)

(Sidenote, the Manctopia documentary on TV recently was quite interesting. People flogging £1m luxury apartments to who the heck knows whilst displacing thousands of low earners. It's ok, it only happens in the South!)

Also, for those in denial that house prices are not artificially inflated above all normal sense of the word.. this is interesting (and old now) https://england.shelter.org.uk/prof...ibrary/policy_library_folder/food_for_thought

Summary
If grocery prices had increased at the same rate as house prices since 1971, then:

  • A 4-pint carton of milk would cost £10.45
  • A chicken would cost £51.18
  • A bunch of 6 bananas would cost £8.47
  • A box of 6 eggs would cost £5.01
  • A loaf of sliced white bread would cost £4.36
  • A leg of lamb would cost £53.18
  • The average weekly expenditure on food for a family of four would be £453.23.
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Haggisman said:
This is somewhat misleading. Sure they may be paying more in rent than they would on a mortgage, but they also don't have to worry about paying for maintenance, and potentially having to fork out 4+ figures on short notice if the boiler fails or the roof blows off. Something to be factored into those "savings". They also don't have the risk that the house drops in value, leaving them in negative equity.



That sounds suspiciously like my experiences growing up in Glasgow as well.

There was always that moment of terror when someone asked you "do you support Rangers or Celtic?"... :p
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Always say Rangers, anything else is just plain wrong!
 
Haggisman said:
This is somewhat misleading. Sure they may be paying more in rent than they would on a mortgage, but they also don't have to worry about paying for maintenance, and potentially having to fork out 4+ figures on short notice if the boiler fails or the roof blows off. Something to be factored into those "savings". They also don't have the risk that the house drops in value, leaving them in negative equity.



That sounds suspiciously like my experiences growing up in Glasgow as well.

There was always that moment of terror when someone asked you "do you support Rangers or Celtic?"... :p
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I actually went to a Catholic school. St Catherine's. So only one choice for me. I think we had 2 rangers fans in the whole school. They got a real hard time.

One point during the summer holidays a guy in my class and his older brother who had been expelled previously burnt down half the school.

So during the what is it 2-3 months summer holidays we got another 2-3 months off whilst they rebuilt the school. I had just come back from abroad as well and thought I was going back to school and then I found that out. Result.

Bare in mind this is primary school. Kids were mental when I think about it. Even had a guy in ma class who smacked a teacher once.
 
BongoHunter said:
I think that you just have to do everything you can and make a lot of sacrifices to get on the ladder these days, as well as being more patient. And be prepared for it to take even longer if you have no flex on location.

Worth it though

Edit: not saying its possible for everyone - E.G if you doing a 40 hour week on minimum wage in London then forget it (and what the hell are you doing!)
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Yeah of course. I thin it's always required a great deal of sacrifice, even back when the markets where more agreeable. But we literally wouldn't be able to do anything but eat relatively poorly and pay the rent. What it ultimately came down to however was either getting on the ladder in a crumby area with bad schools where we didn't want to be or renting in a decent one in a good catchment area. We chose the latter ultimately. Maybe we'll climb the financial ladder a little over the next few years and be in a better positon (she's a midwife and I work in Admin, both for the NHS), but I doubt it. The NHS is being exceptionally frugal with it's employees these days and I can't see that changing any time soon...
 
Bought a one bed flat in Edmonton for 118k in 2012, sold now for 195k, bought a 3 bed house in Hoddesdon with 44ft back garden for 295k with proceeds from flat, mum gave me 100k and wife got a 100k mortgage as i'm self employed, couldn't afford anything in London really that wasn't a 2 bed. Parents bought a 2 bed near the stadium for 169k in 2002, worth about 500k now.
 
Your typical new build(not all are bad) is pretty poor standard. I would rather live in a 70s council house made from bricks than a new Barratt house made from plaster and sealant!
 
MikeTheNative said:
Your typical new build(not all are bad) is pretty poor standard. I would rather live in a 70s council house made from bricks than a new Barratt house made from plaster and sealant!
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Agreed, my flat was a 1989 build. That single bedroom can hold a super king, bedside tables, chest of drawers on each side and has a built in 4 door closet and boiler room. Living room is massive and walls and floors are concrete and insulated. a lot of newer places i saw were like sardine tins with tin walls.
 
Psycho Sonny said:
I actually went to a Catholic school. St Catherine's. So only one choice for me. I think we had 2 rangers fans in the whole school. They got a real hard time.

One point during the summer holidays a guy in my class and his older brother who had been expelled previously burnt down half the school.

So during the what is it 2-3 months summer holidays we got another 2-3 months off whilst they rebuilt the school. I had just come back from abroad as well and thought I was going back to school and then I found that out. Result.

Bare in mind this is primary school. Kids were mental when I think about it. Even had a guy in ma class who smacked a teacher once.
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Sounds about right. In one of my (many :p) playground scuffles, some kid actually pulled a 2x4 off some nearby building work and handed it to me to hit the other kid with. "Good times" eh?
 
Scam said:
This point could have had it's own thread on why millennials are bitter. It's not just the fact that houses are astronomically expensive, but the boomers actively expect you to pay off their second/third mortgage to ensure they can live in the lap of luxury (being retired at 55 obviously), whilst nullifying your chances of saving that extortionate deposit because it's all going on rent.
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Your still blaming pensioners for being greedy landlords then? do you even know what a so called boomer is ? clearly not so I'll explain it to you, it's someone born right after WW2 ended and they will all be aged over 70.

Have you watched the landlords who appear on TV programmes such "don't pay we'll take it away, ?? homes under the hammer etc ?? are they all pensioners or even just a few of them?? no they are nearly all young and in many cases foreigners so stop spouting rubbish and realise that in many cases it's your own generation cashing in on the rest of you.
 
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