I think ofgem will struggle in the court case, the government loses most judical challenges related to human rights and welfare. On top of this the basic claim of ofgem that its preventing profiteering is flawed if companies it regulates have increasing profits,
Energy Prices (Strictly NO referrals!)
- Thread starter DXP55
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Soldato
When we bought our place (2013), the rent on similar properties was more than double our mortgage payments (on a 25 year term). Just had a quick look on Rightmove and it's now closer to 3x our mortgage.
While you're correct that a mortgage you take out today might be similar to current rental prices, that mortgage amount is going to stay relatively static (obviously depends on interest rates), but I bet if you rented that same house, the rent would be significantly higher in 10 years!!
Caporegime
Its crazy how children effects that chart. My daughter is nearly 15 so in 3 years time she will be either going to Uni or into an apprenticeship.
We are currently a household of 4 which puts us in the top 25% but if I remove our daughter we go into the top 15%. We do not feel like even the top 25% TBH. I am a HGV driver and the missus works in a laboratory. Hardly anything special. I guess social media generation makes you think everyone drives around in Ferrari's and Lambo's. That and most people have everything on the drip these days. Only debt we have is our Mortgage.
We are currently a household of 4 which puts us in the top 25% but if I remove our daughter we go into the top 15%. We do not feel like even the top 25% TBH. I am a HGV driver and the missus works in a laboratory. Hardly anything special. I guess social media generation makes you think everyone drives around in Ferrari's and Lambo's. That and most people have everything on the drip these days. Only debt we have is our Mortgage.
We are a family of 7 and they are all young children, the eldest being 11. The wife is a stay at home mum and I am the only earner. I am in the top 5% of earners apparently, it does not feel like it and even less with all these price rises!!
Permabanned
5 is too many kids.
Permabanned
Cos kids are bloody expensive locusts who eat you out of house and home. Also 5 kids, lol, nutter.
Soldato
Gee Wiz 
Soldato
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I just hope the kids are left enough inheritance to afford to solar panel and aircon their homes, otherwise it's just evil leaving them to suffer the future
Permabanned
Sod em I say. My kids will get no inheritance from me just as I will get no inheritance from my parents. They can make their own way in life as many have done before them.
My kids will get no inheritance from me just as I will get no inheritance from my parents. They can make their own way in life as many have done before them.
Associate
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What I can never figure out is that the median income is somewhere around £32K but so many people seem to be driving cars well in excess £80K and houses so many houses here are north of £350K and they're selling like hot cakes. It all just doesn't seem to add up.
Pretty low bar that.
Soldato
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How so ? The future is pretty grim for anybody born in the last 2 decades
I meant it's a small inheritance.
Commissario
However that is somewhat offset by things like having to cover all of the household maintenance yourself, and potentially being on the hook for some very expensive bills.
Depending on mortgage, area, and age of properties you might end up being little if any better off, especially if you're at the low end on the income scale but managed to get (and maintain) a mortgage when the property market wasn't insane, as if you're on a low income renting you'll likely be eligible for housing benefit or similar which can mean the amount you're paying out of pocket for your rent can be much lower than a mortgage + maintenance costs.
Not many single people are buying properties north of 350k, so to 'cope' with that, multiple 32k by 2. That's 32k with 24k being tax free.
Part of the media whinge on house prices is single folk expecting to buy mega properties.
Soldato
True but there doesn't appear to be a lot of 1 bed properties built as houses with a garden so anyone that wants a garden has to go 2 or even 3 bed including singletons.
For sure, and power couples with no kids are driving the prices of 3 beds up massively (looking at you 413x).