Will the plan work to turn generation rent into buy?
Discussion
Pegscratch said:
Joey Deacon said:
Crawley, which is neither Surrey or desirable
...
Want any more examples where prices have increased 3+ times in 20 years?
Got any that aren't London Commuter Town and Surrey? Cos so far you've managed to find one that isn't Surrey to make your point......
Want any more examples where prices have increased 3+ times in 20 years?
5, Imadene Crescent, Lindford, Bordon, Hampshire GU35 0PH
4 bed, semi-detached
£440,000 18 Aug 2020 Freehold
£249,950 1 Jul 2004 Freehold
£105,000 27 Nov 1998 Freehold
over 4 times in 22 years.
Portsmouth, not commutable and certainly not desirable.
277, Highbury Grove, Portsmouth PO6 2RW
3 bed, terraced
£266,000 18 Dec 2020 Freehold
£150,000 29 Jul 2011 Freehold
£81,000 14 Apr 2000 Freehold
Or are we going to continue to pretend that in the SE prices have only increased 1.75 times in the last 20 years? And that anybody on a normal salary can afford to buy a house in the SE as long as they don't have an iphone or buy coffee every day?
Pegscratch said:
Turn up to a job in an area that is sustainable for you, rather than going to London and complaining that the sky is blue? Oh, sorry, no, that's that housing is unaffordable. Easy mistake to make, they're both pretty obvious statements.
Very few jobs that sponsor work visas are outside expensive urban areas. Turn up to a typical small local business and ask if they sponsor a tier 2 visa and see what reaction you get.Pegscratch said:
Then it sounds like you moved for a job that wasn't sustainable for you, and that suddenly is everyone else's fault.
I looked at relocating for work, one would have been very achievable (unsurprisingly in a very warm, sandy country) and another was very, very borderline so I didn't go any further in exploring it.
I’m glad we agree. It was being suggested above that relocating internationally for a part time job was a reliable way to get ahead.I looked at relocating for work, one would have been very achievable (unsurprisingly in a very warm, sandy country) and another was very, very borderline so I didn't go any further in exploring it.
Northernboy said:
She asked a favour of a friend of a friend, and slept on their sofa and then on the floor of another.
She asked around four to door and found a child-minding job and a job in a clothes shop, and she did each of these until she found an apprenticeship in a bank.
Once she had a wage she rented a studio flat.
It’s not complicated, it’s just hard. It’s such an alien idea to some on this thread that I get the impression that some people think it’s unbelievable.
I don’t think the Home Office would have accepted the ‘friend of a friend’ route to renting accommodation here, nor would child minding have kept me above the income threshold. However, it is now quite clear that there actually was a degree of outside help which explains your situation.She asked around four to door and found a child-minding job and a job in a clothes shop, and she did each of these until she found an apprenticeship in a bank.
Once she had a wage she rented a studio flat.
It’s not complicated, it’s just hard. It’s such an alien idea to some on this thread that I get the impression that some people think it’s unbelievable.
ARHarh said:
In 1990 no one wanted to live in Bordon and you couldn't sell houses how ever hard you tried, I know as I considered it at the time. Borden has changed a lot since the 90's. These prices are still overflow from that London and because they are commutable people have bought them and put the prices up.
I give in. I don't even know why I am arguing that house prices are unaffordable for most people in the SE. I own multiple properties, as far as I am concerned the new government 5% mortgage deal is just giving additional wealth to people like me.okgo said:
There is always an explanation, it doesn't mean it hasn't happened does it 
Obviously such things more common in the SE I assume given there is work and running water etc here
My house has gone up 3.4x since 1999.
No only 1.75x apparently. Obviously such things more common in the SE I assume given there is work and running water etc here
My house has gone up 3.4x since 1999.
2 bedroom ugly, new build, tiny terraced house in Leatherhead on a massive council estate? Yours for only £335K
https://www.rightmove.co.uk/properties/103621469#/
According to Natwest a couple could afford this if they earn £30,500 each and have a £67K deposit. The mortgage over 25 years is currently £1,135.93 a month.
Living the dream.
Edited by anonymous-user on Tuesday 6th April 16:04
Northernboy said:
Why are you struggling with this? She slept on the sofa of a friend who was renting a one-bed apartment herself.
Where do you get “house” from, or owning?
Do none of you lot have the ability to even understand that a bit of sofa surfing is completely normal when starting out?
She stayed with a friend, rent free? I’ll add that to my list of ways to get ahead then, it would definitely help with saving a deposit.Where do you get “house” from, or owning?
Do none of you lot have the ability to even understand that a bit of sofa surfing is completely normal when starting out?
Also, it’s impossible to ‘sofa surf’ in the UK as a legal immigrant (in my case anyway, being non-EU and not qualifying for a work holiday visa).
However, the thrust of my point was that your wife had outside help (living rent free, if that is what she did, is actually massive outside help); contrary to what you said at first.
Edited by anonymous-user on Tuesday 6th April 16:23
Northernboy said:
If you are claiming that the reason that you can’t afford a nice house is that you didn’t get free use of a sofa for a couple of months then you are probably beyond help.
The idea that this is what’s held you back or that it’s a “massive help” is ridiculous.
I as an individual haven’t been held back, I am in a position to buy a house in the UK. However, free use of a sofa for a few months is an enormous help. It has a worth of potentially £1000+. If this is insignificant to you, then fair enough. To me, at that stage in life, it would’ve been a big help that would probably have compounded into even more success down the line. The idea that this is what’s held you back or that it’s a “massive help” is ridiculous.
For all sorts of reasons, a lot of people don’t have such a privilege available to them. For example, even if I did have such a generous friend, I couldn’t have used it because it wouldn’t satisfy Home Office requirements on suitable accommodation.
Northernboy said:
You are being utterly ridiculous.
Free lodging of any kind is a far cry from ‘no outside help’, no matter how you frame it. It makes all sorts of otherwise uneconomical prospects feasible.I’m not jealous or spiteful - I’d have taken such an offer if it was available.
Northernboy said:
The idea that a young girl pitching up thousands of miles from home and having to beg some space on a sofa is an example of the advantages needed to succeed is just ludicrous.
Except that wasn't what was said at all, it's just a single example of the sort of advantage people may have that can lead to better life outcomes. People being able to live rent-free with parents for a period of time to save up money is another.There are others who would have given their right arm to have been born in the North of England and be only 300 miles from their family, which is an advantage in life too from my perspective!
Pegscratch said:
What is wrong with some people’s parents that they decided that they wouldn’t let their kid live rent free as long as they were demonstrably putting money aside for a deposit on a house?!
If they’re spaffing it all up the wall on cars and iPhones etc then have at it, but pretending you’re hard done by because you decided not to stay at home and save like a load of others?
Bonkers!
Perhaps some people’s parents are unable to let them live with them rent-free in adulthood? As a result of - for example - being deceased, divorced, unemployed, infirm, etc. There is often not a ‘family home’ to return to.If they’re spaffing it all up the wall on cars and iPhones etc then have at it, but pretending you’re hard done by because you decided not to stay at home and save like a load of others?
Bonkers!
An edit here to add some actual stats: around 10% of 20-24 year olds have at least one deceased parent, I expect the number with divorced/disabled parents is considerably higher than that. So we're not talking about a niche situation!
Edited by anonymous-user on Tuesday 6th April 22:38
Northernboy said:
So are we to assume that you are a street child who never so much as became part of a group, and forged your way with no assistance at all until you managed to tie yourself to the undercarriage of a 747 with foraged string, turning up shivering and naked in Heathrow to start a new life?
You seem very willing to paint everyone else as having had an unusual advantage, so what’s your story? Orphan, brain damaged, grew up in an underground cavern with no light?
Of course I had help getting on in life, and I try to recognise my own privileges/advantages. It's good to recognise when you've had help getting where you are today, and free rent (even for a short time) and parental support are massive help when it comes to getting ahead with money which aren't available to large amounts of the population. To suggest these things are small/insignificant is not correct.You seem very willing to paint everyone else as having had an unusual advantage, so what’s your story? Orphan, brain damaged, grew up in an underground cavern with no light?
Already in the last few pages you have one poster saying free rent would've saved them thousands of pounds, and another mentioning that the average parental contribution to a deposit is £25k.
Pegscratch said:
Then don’t pretend that it was apocalyptically bad for the whole country post 2006.
The world isn’t out to get you, some people have had disadvantages, others have had what should be considered normal and acceptable help and others have had significant advantages given to them.
Just because buying in London and SE is difficult (for everyone, not just first time buyers TBF) doesn’t mean the whole country is down the pan.
I'd guess about 90% of people think this is the level of help they received if they were asked to self-appraise, which of course The world isn’t out to get you, some people have had disadvantages, others have had what should be considered normal and acceptable help and others have had significant advantages given to them.
Just because buying in London and SE is difficult (for everyone, not just first time buyers TBF) doesn’t mean the whole country is down the pan.
A bit like 94% of university professors rating themselves as above average, as was found in a US study.
Edited by anonymous-user on Wednesday 7th April 15:22
Pegscratch said:
I get it.
You came into the country in a dinghy with blisters from the wind and nobody gave you anything to be able to do anything with and you pay every penny you earn for what could best be described as a cupboard with a child’s inflatable mattress that you have to deflate so you can get your fold-out chair out to sit and eat.
I just don’t see why I should feel bad for my parents doing what every parent should do because you moved to a country without even working out if it was sustainable.
Is anyone actually saying you should feel bad? Empathy isn't the same thing as shame.You came into the country in a dinghy with blisters from the wind and nobody gave you anything to be able to do anything with and you pay every penny you earn for what could best be described as a cupboard with a child’s inflatable mattress that you have to deflate so you can get your fold-out chair out to sit and eat.
I just don’t see why I should feel bad for my parents doing what every parent should do because you moved to a country without even working out if it was sustainable.
C70R said:
You seem to be really keen on grouping everything into a wild (negative) generalisation, when the truth is significantly more nuanced.
Sure, some folks in their 20s live their life on tick and want everything handed to them. There are plenty (like my colleagues) who don't.
Sure, some bought their houses pre-08 the hard way. Plenty of people had it really easy, and that's not even an option these days.
Sure, it's much harder to buy in London than it was 20 years ago. But roughly the same number of people live and work in Greater London than in Scotland and Wales combined (and that's not changing any time soon), so we probably shouldn't ignore it.
Just to piggyback off this, I don't really buy into the idea of there being major differences between generations in terms of behaviour. So if the stats suggest that home ownership is becoming less common, first-time buyers are older, and the salary/mortgage ratios are becoming less favourable, it's probably not down to individual failings or some sort of generational mass-fecklessness.Sure, some folks in their 20s live their life on tick and want everything handed to them. There are plenty (like my colleagues) who don't.
Sure, some bought their houses pre-08 the hard way. Plenty of people had it really easy, and that's not even an option these days.
Sure, it's much harder to buy in London than it was 20 years ago. But roughly the same number of people live and work in Greater London than in Scotland and Wales combined (and that's not changing any time soon), so we probably shouldn't ignore it.
stitched said:
Joey Deacon said:
richardxjr said:
Oakey said:
Was it difficult getting another mortgage at 47?
Shouldn't be, even on a 25+ year term.They held me to a 15 year repayment.
My daughter doesn’t want to buy because she thinks there is more to life. She travelled before COVID. Was working on a voluntary basis as a teacher in Mozambique. She chooses to stay with me because she doesn’t see the point in buying. That and she’s stayed closer since her dad walked out on us with his PA. She contributes to bills etc. Finding a purpose is more important to her than owning a property.
My ex-husband was more of a live for the day kinda guy. He didn’t have many savings. His dad is even worse off. He’s in his 70’s. Has a car on PCP and hefty mortgage. A mortgage for a 9 bed house and it’s just him since my ex-husbands step mother passed a few years ago. He has never paid into a pension but with his debt if he sold his house for £600k he would still be £300k better off. So I guess he could downsize in the worst case.
My ex-husband was more of a live for the day kinda guy. He didn’t have many savings. His dad is even worse off. He’s in his 70’s. Has a car on PCP and hefty mortgage. A mortgage for a 9 bed house and it’s just him since my ex-husbands step mother passed a few years ago. He has never paid into a pension but with his debt if he sold his house for £600k he would still be £300k better off. So I guess he could downsize in the worst case.
Pegscratch said:
Even outside the crash I’d have been on the ladder, the crash just meant I got drive space for a lot more cars and a decent garage and garden.
However none of what you quoted should be seen as an “advantage”, it’s just astute planning. My parents knew I would need somewhere to live, and they didn’t sit there expecting the school that neglected my education needs for years to teach me financial awareness. I selected my career with two criteria, first was my ability to be stimulated by it and second was it’s earning potential. I chose not to enter further education because it added precisely nothing to my career that a few years experience didn’t override. That “conscious decision” afforded me the “advantage” of being able to earn reasonable sums. When I was still at home with my parents, I ran two jobs with the same company because it meant greater flexibility in overtime to earn money.
Yes, some people go through a lot of the same motions and struggle to get jobs that will give them the hours to do it. Yes, some people have parents that see them as a hindrance when the child support stops, yes, some people’s parents are not in a position to put their offspring up for modest or zero rent.
None of that is a sodding advantage though, that’s just working hard and taking opportunities. An advantage is the Bank of Mum and Dad slapping the chequebook out and handing deposits or more over.
I'm going to politely disagree with you here. How is the Bank of Mum and Dad slapping the chequebook out for someone to live at home for a while into adulthood not an advantage, while the Bank of Mum and Dad slapping the chequebook out to give you a house deposit is an advantage? I'd say they both are advantages in life? I don't think either of these things are really moral obligations, and I did benefit from one of them myself.However none of what you quoted should be seen as an “advantage”, it’s just astute planning. My parents knew I would need somewhere to live, and they didn’t sit there expecting the school that neglected my education needs for years to teach me financial awareness. I selected my career with two criteria, first was my ability to be stimulated by it and second was it’s earning potential. I chose not to enter further education because it added precisely nothing to my career that a few years experience didn’t override. That “conscious decision” afforded me the “advantage” of being able to earn reasonable sums. When I was still at home with my parents, I ran two jobs with the same company because it meant greater flexibility in overtime to earn money.
Yes, some people go through a lot of the same motions and struggle to get jobs that will give them the hours to do it. Yes, some people have parents that see them as a hindrance when the child support stops, yes, some people’s parents are not in a position to put their offspring up for modest or zero rent.
None of that is a sodding advantage though, that’s just working hard and taking opportunities. An advantage is the Bank of Mum and Dad slapping the chequebook out and handing deposits or more over.
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