Housing crisis solutions

ChroniC · 31 Jul 2016 at 19:39

I am one of the very unfortunate people in their thirties struggling to get onto the property ladder. Where I live, properties are a minimum of 180-250 with deposits necessary in excess of 20k.

I have noticed a trend that I think it part of the cause and my idea of a solution.
Having brothers in their 40s and 50s, they were lucky enough to buy properties for 50 to 100k. Having met women who then sold or rented out their properties, they were soon able to remortgage and buy more.

This is causing imo, house price rises through housing shortages. I believe without any actual evidence but my own experiences , that the upper middle class are the cause.

My idea is a ban on property allowances. 2 homes max without a good reason.
I appreciate being forced to sell properties would crash the market and destroy the whole system, so a ten year timescale or something along that lines.
I only see it allowing those with excess to still have money from the sale, but not cause others to be unfortunate from the shortage.

Around my area they keep building houses. None of them go on the market for less that 200k and they are poorly built, wood and brick skin buildings with small gardens. Worst thing is they all get rented out by people who remortgage and buy them. No one who is trying to get on the ladder can afford them.
/rant

ChroniC · 31 Jul 2016 at 19:52

You could say that's a solution. True I could move North, but it's a problem regardless. Your saying that, their allowed too, so I should buck up and deal with it, lose my whole life/family to buy no where near them or anyone I know. Screw me?

ChroniC · 31 Jul 2016 at 19:54

maccapacca said:
20k deposit doesn't seem to be a crisis and neither does house prices at 200k seems normal to me

Yes it seems normal now, but it shouldn't. That's my point.

ChroniC · 31 Jul 2016 at 20:00

But would my solution not solve the problem. I really don't think I'm being ungrateful to think that I should have the opportunities to buy with the wage I do make. Instead I struggle to save as I have to rent. I could afford the mortgage if the deposit wasn't so large due to the excess house prices from a shortage.

ChroniC · 31 Jul 2016 at 20:10

Lokai said:
I personally dont see why people that have the money should be stopped from buying as many properties as they like.

Because they are forcing the prices up and thus cause the first time buyers from buying. Which in instead leads to them being richer and families and people like me from being unable to buy.

Would you be happy if there was lots of food but the rich bought it all, stored it and allowed you to buy it at huge prices?

ChroniC · 31 Jul 2016 at 20:14

Dis86 said:
But it's not available to all as prices become artificially inflated.

My issue is I can never feel comfortable with my future as an old person as I can never save. I am making others richer and never myself.

ChroniC · 31 Jul 2016 at 20:18

Jono8 said:
Can you not find someone to buy somewhere with? Do you have a partner/wife/girlfriend?

I do and we both earn in excess of 25+ but with rent of 900 a month plus bills ect, you can't make 15k each easily, and when you do your options are limited to garbage properties.
My problem is how am I expected to have a life or family which cost a lot of money when basically all I can afford is rent and saving for a mortgage.
All thanks to people in there 50s sitting back and raking it in. Ban them and allow others to live like they did.

ChroniC · 31 Jul 2016 at 20:26

I really think that I should have to settle because of a part of the population causing an excessive problem.

ChroniC · 31 Jul 2016 at 20:34

Lokai said:
See now you just sound entitled. So its not that there isnt affordable housing for you, its just not up to your standards ?

No, someone said I should go to the very very bottom of the ladder or the sake of it. What I was saying is I'm not the only one being forced there. Why should I and others be forsaken with that for the sake of others being glutinous and then the bottom prices going up due to demand also.

I worded my initial reply lazily because of writing on a phone.

ChroniC · 31 Jul 2016 at 20:43

Lokai said:
But surely the majority of people start at the bottom of the ladder ? I live in a very modest 3 bed semi in a very average area, but its what we could afford given our circumstances, and in a few years when the kids start school we will upgrade.

Thats what my parents did (albeit with very lower figures), and is what i thought was the norm ?

It's not starting at the bottom of the ladder hats the problem, it's the way the bottom rung has been risen to above your head.

ChroniC · 31 Jul 2016 at 20:46

About 150k+

ChroniC · 31 Jul 2016 at 20:48

I take massive offense to the solution of this problem cause by others, being me having to work harder and earn more. Like because I'm not an entrepreneur, I should be ashamed.

ChroniC · 31 Jul 2016 at 20:50

Jono8 said:
Why not buy one of those then

This sounds like less of a crisis and more of a "we can't afford the dream home we really want"

Because I'm offering a solution to excessive greed. Like my previous analogy if the rich bought all the food and sold it back to you at huge prices would you appreciate someone saying why don't you eat mud, surely that's cheap. There are homes here available but they get bought at inflated prices by those with more than 2 or 3 homes that they remortgage and rent out.

ChroniC · 31 Jul 2016 at 20:54

Dis86 said:
Should the average family salary not be able to buy the average house?

You'd think so. That is my point but I'm going to bale out of my own thread as I think people agree that I should earn more and pay the excessive prices rather than moan about them.
I will try harder.

ChroniC · 31 Jul 2016 at 20:58

T

Jono8 said:
No we think you should get on the ladder ( which you quite clearly can) which will enable you to put the money you spend on renting into your own pocket so you can then afford the home you really want in the future.

No I can't because I have to rent, not to live with the parents. With inflated rental prices, saving 10-15k is impossible. Your assuming my money goes into savings.. It doesn't, it goes into living

ChroniC · 31 Jul 2016 at 21:04

Lokai said:
And you cant rent cheaper ?

I could maybe at a push get down to 700. Hardly going to make me save thousands for a home.

ChroniC · 31 Jul 2016 at 21:07

I can afford a repayment. It's less than renting. I just don't have any money left to significantly raise 15k, I don't have friends or family willing to help which is how almost everyone I know around here got on the ladder in the last 5 years.

ChroniC · 31 Jul 2016 at 21:11

Regardless.. Why are we now bickering the issue of my ability to raise a huge sum of money and not the reason the sum is huge.
I ponder the question that it's a huge Hill because of the fortunate in their 50# making it higher to climb. Should law not be put in place to force the slope down for the sake of necessity instead of greed.

No?

ChroniC · 31 Jul 2016 at 21:13

flowrider99 said:
Have you thought about the help to buy isa.

Pointless. Giving me 50quid for every 200 won't make a huge sum anymore attainable in about 10 years and then the prices would have risen accordingly.

ChroniC · 31 Jul 2016 at 21:18

Jono8 said:
You don't seem to be in the right mindset to get your own place to be honest if that is your attitude towards saving.

Yes it is all less than ideal but houses and land are never going to be cheap and easy to obtain - ever.

That's why I started the thread, a way to move the bar lower, not my ability to save which funnily enough is tied into that very bar.
According to everyone who is berating me for a lack of savings, house prices in the millions should be attainable if I just earn more. That's my fault after all?