Will the plan work to turn generation rent into buy?
Discussion
Groat said:
https://www.rightmove.co.uk/properties/76813125#/
Won't some poor downtrodden millenial buy me?? Pleeeeeease!!!!!
They’d have to pay me a sWon't some poor downtrodden millenial buy me?? Pleeeeeease!!!!!
tload more than 24 grand to live in fking Cumnock. Super_G said:
One word. Cladding.
Looks like A1 non combustible concrete render in a particularly fetching shade of gray/cream/dirt to me. The red bits below the windows are spandrel panels so excluded from the combustible cladding ban / external wall inspection anyway.Seems like a cheap place to set up a crack den / knocking shop, probably a bit light on custom mind.
And so we can now easily see what the millenial housing problem is.
It's NOT about there being no affordable properties available, it's about the available affordable properties being NOT what the millenial feels entitled to own. Not nice looking enough. Not in the right area. etc etc yadda yadda bleat
Two minutes on Google maps can tell that the building isn't cladded (although it MAY have an issue which I can't be bothered discussing).
And Google maps can also tell that the immediate area is well tended and orderly with no signs of any antisocial activity etc. Try it.
But no millenial would touch it as a starter flat they could move on from in a year or two and easily afford to retain as a renter currently easily able to generate £5kpa. to put towards their subsequent purchase.....
So it'll be bought by a professional landlord, because no millenial wants it.
Hands up who doesn't fancy a 20% ROI - and this quite possibly from a tenant who's there for 20 years.
It's NOT about there being no affordable properties available, it's about the available affordable properties being NOT what the millenial feels entitled to own. Not nice looking enough. Not in the right area. etc etc yadda yadda bleat
Two minutes on Google maps can tell that the building isn't cladded (although it MAY have an issue which I can't be bothered discussing).
And Google maps can also tell that the immediate area is well tended and orderly with no signs of any antisocial activity etc. Try it.
But no millenial would touch it as a starter flat they could move on from in a year or two and easily afford to retain as a renter currently easily able to generate £5kpa. to put towards their subsequent purchase.....
So it'll be bought by a professional landlord, because no millenial wants it.
Hands up who doesn't fancy a 20% ROI - and this quite possibly from a tenant who's there for 20 years.
Groat said:
And so we can now easily see what the millenial housing problem is.
It's NOT about there being no affordable properties available, it's about the available affordable properties being NOT what the millenial feels entitled to own. Not nice looking enough. Not in the right area. etc etc yadda yadda bleat
Two minutes on Google maps can tell that the building isn't cladded (although it MAY have an issue which I can't be bothered discussing).
And Google maps can also tell that the immediate area is well tended and orderly with no signs of any antisocial activity etc. Try it.
But no millenial would touch it as a starter flat they could move on from in a year or two and easily afford to retain as a renter currently easily able to generate £5kpa. to put towards their subsequent purchase.....
So it'll be bought by a professional landlord, because no millenial wants it.
Hands up who doesn't fancy a 20% ROI - and this quite possibly from a tenant who's there for 20 years.
This is so true, every first time buyer wants god dam new builds for some kinda keeping up with the Jones nonsense.It's NOT about there being no affordable properties available, it's about the available affordable properties being NOT what the millenial feels entitled to own. Not nice looking enough. Not in the right area. etc etc yadda yadda bleat
Two minutes on Google maps can tell that the building isn't cladded (although it MAY have an issue which I can't be bothered discussing).
And Google maps can also tell that the immediate area is well tended and orderly with no signs of any antisocial activity etc. Try it.
But no millenial would touch it as a starter flat they could move on from in a year or two and easily afford to retain as a renter currently easily able to generate £5kpa. to put towards their subsequent purchase.....
So it'll be bought by a professional landlord, because no millenial wants it.
Hands up who doesn't fancy a 20% ROI - and this quite possibly from a tenant who's there for 20 years.
I can’t see the issue with the flat, it’s 25k for Christ sake, 40 minutes out from Glasgow, my example of the 80k two up two down is 35 minutes from Cardiff. There are plenty of houses all over the UK. What’s the issue here??
Groat said:
And so we can now easily see what the millenial housing problem is.
It's NOT about there being no affordable properties available, it's about the available affordable properties being NOT what the millenial feels entitled to own. Not nice looking enough. Not in the right area. etc etc yadda yadda bleat
Two minutes on Google maps can tell that the building isn't cladded (although it MAY have an issue which I can't be bothered discussing).
And Google maps can also tell that the immediate area is well tended and orderly with no signs of any antisocial activity etc. Try it.
But no millenial would touch it as a starter flat they could move on from in a year or two and easily afford to retain as a renter currently easily able to generate £5kpa. to put towards their subsequent purchase.....
So it'll be bought by a professional landlord, because no millenial wants it.
Hands up who doesn't fancy a 20% ROI - and this quite possibly from a tenant who's there for 20 years.
Too many people have hung out in posh bars spending borrowed money, had Uber send an A8, or been to a party at a wealthy friend’s Docklands apartment and now think that that’s some sort of base level.It's NOT about there being no affordable properties available, it's about the available affordable properties being NOT what the millenial feels entitled to own. Not nice looking enough. Not in the right area. etc etc yadda yadda bleat
Two minutes on Google maps can tell that the building isn't cladded (although it MAY have an issue which I can't be bothered discussing).
And Google maps can also tell that the immediate area is well tended and orderly with no signs of any antisocial activity etc. Try it.
But no millenial would touch it as a starter flat they could move on from in a year or two and easily afford to retain as a renter currently easily able to generate £5kpa. to put towards their subsequent purchase.....
So it'll be bought by a professional landlord, because no millenial wants it.
Hands up who doesn't fancy a 20% ROI - and this quite possibly from a tenant who's there for 20 years.
Like most normal people I slept in an awful lot of s
tty places, spent a lot of nights hungry and / or cold before I ever had a place of my own, let alone had a uniformed driver take me to Heathrow to travel upstairs on a flight to New York.People need to understand, the bottom step is where most of us have to begin, and if we won’t settle for spending some time there the other steps are likely to never be more than a dream.
Gooose said:
Groat said:
And so we can now easily see what the millenial housing problem is.
It's NOT about there being no affordable properties available, it's about the available affordable properties being NOT what the millenial feels entitled to own. Not nice looking enough. Not in the right area. etc etc yadda yadda bleat
Two minutes on Google maps can tell that the building isn't cladded (although it MAY have an issue which I can't be bothered discussing).
And Google maps can also tell that the immediate area is well tended and orderly with no signs of any antisocial activity etc. Try it.
But no millenial would touch it as a starter flat they could move on from in a year or two and easily afford to retain as a renter currently easily able to generate £5kpa. to put towards their subsequent purchase.....
So it'll be bought by a professional landlord, because no millenial wants it.
Hands up who doesn't fancy a 20% ROI - and this quite possibly from a tenant who's there for 20 years.
This is so true, every first time buyer wants god dam new builds for some kinda keeping up with the Jones nonsense.It's NOT about there being no affordable properties available, it's about the available affordable properties being NOT what the millenial feels entitled to own. Not nice looking enough. Not in the right area. etc etc yadda yadda bleat
Two minutes on Google maps can tell that the building isn't cladded (although it MAY have an issue which I can't be bothered discussing).
And Google maps can also tell that the immediate area is well tended and orderly with no signs of any antisocial activity etc. Try it.
But no millenial would touch it as a starter flat they could move on from in a year or two and easily afford to retain as a renter currently easily able to generate £5kpa. to put towards their subsequent purchase.....
So it'll be bought by a professional landlord, because no millenial wants it.
Hands up who doesn't fancy a 20% ROI - and this quite possibly from a tenant who's there for 20 years.
The
I can’t see the issue with the flat, it’s 25k for Christ sake, 40 minutes out from Glasgow, my example of the 80k two up two down is 35 minutes from Cardiff. There are plenty of houses all over the UK. What’s the issue here??
https://www.rightmove.co.uk/properties/102425099#/
Washington, a nice flat, with a balcony, 30 minutes bus ride into Newcastle, £28,000.
Mortgage payments with a 10% deposit are £112 per month.
It makes no sense whatsoever for anyone to say that property is unaffordable. It isn’t.
Washington, a nice flat, with a balcony, 30 minutes bus ride into Newcastle, £28,000.
Mortgage payments with a 10% deposit are £112 per month.
It makes no sense whatsoever for anyone to say that property is unaffordable. It isn’t.
Northernboy said:
https://www.rightmove.co.uk/properties/102425099#/
Washington, a nice flat, with a balcony, 30 minutes bus ride into Newcastle, £28,000.
Mortgage payments with a 10% deposit are £112 per month.
It makes no sense whatsoever for anyone to say that property is unaffordable. It isn’t.
Offers from 28k is entirely different from it costing 28k.Washington, a nice flat, with a balcony, 30 minutes bus ride into Newcastle, £28,000.
Mortgage payments with a 10% deposit are £112 per month.
It makes no sense whatsoever for anyone to say that property is unaffordable. It isn’t.
Groat said:
And so we can now easily see what the millenial housing problem is.
It's NOT about there being no affordable properties available, it's about the available affordable properties being NOT what the millenial feels entitled to own. Not nice looking enough. Not in the right area. etc etc yadda yadda bleat
Two minutes on Google maps can tell that the building isn't cladded (although it MAY have an issue which I can't be bothered discussing).
And Google maps can also tell that the immediate area is well tended and orderly with no signs of any antisocial activity etc. Try it.
But no millenial would touch it as a starter flat they could move on from in a year or two and easily afford to retain as a renter currently easily able to generate £5kpa. to put towards their subsequent purchase.....
So it'll be bought by a professional landlord, because no millenial wants it.
Hands up who doesn't fancy a 20% ROI - and this quite possibly from a tenant who's there for 20 years.
That flat is in the most deprived 20% of areas in Scotland (check the SIMD map), bottom 20% for crime, bottom 30% for health, and bottom 10% for education. It's also not really viable to commute from there to Glasgow by car (M77 was a nightmare pre-COVID, if you even have parking in town), which is a shame as you'd need a car to live in that flat. You'd actually save more money living in Glasgow proper.It's NOT about there being no affordable properties available, it's about the available affordable properties being NOT what the millenial feels entitled to own. Not nice looking enough. Not in the right area. etc etc yadda yadda bleat
Two minutes on Google maps can tell that the building isn't cladded (although it MAY have an issue which I can't be bothered discussing).
And Google maps can also tell that the immediate area is well tended and orderly with no signs of any antisocial activity etc. Try it.
But no millenial would touch it as a starter flat they could move on from in a year or two and easily afford to retain as a renter currently easily able to generate £5kpa. to put towards their subsequent purchase.....
So it'll be bought by a professional landlord, because no millenial wants it.
Hands up who doesn't fancy a 20% ROI - and this quite possibly from a tenant who's there for 20 years.
MrMan001 said:
That flat is in the most deprived 20% of areas in Scotland (check the SIMD map), bottom 20% for crime, bottom 30% for health, and bottom 10% for education. It's also not really viable to commute from there to Glasgow by car (M77 was a nightmare pre-COVID, if you even have parking in town), which is a shame as you'd need a car to live in that flat. You'd actually save more money living in Glasgow proper.
Assuming our millenial doesn't work in Kilmarnock or anywhere else local to the property. And yes, Ayrshire doesn't rate too highly on the statistical measures, but nor do many areas of Glasgow, or anywhere else for that matter. The point is that the young low-waged 1st time buyer has to start on the bottom rung of the ladder (like all the boomers used to do) or else face the frustration of demanding what they simply can't afford.
Edited by Groat on Monday 5th April 23:50
Groat said:
Assuming our millenial doesn't work in Kilmarnock or anywhere else local to the property. And yes, Ayrshire doesn't rate too highly on the statistical measures, but nor do many areas of Glasgow, or anywhere else for that matter.
The point is that the young low-waged 1st time buyer has to start on the bottom rung of the ladder (like all the boomers used to do) or else face the frustration of demanding what they simply can't afford.
Except the boomers didn't do that.The point is that the young low-waged 1st time buyer has to start on the bottom rung of the ladder (like all the boomers used to do) or else face the frustration of demanding what they simply can't afford.
Edited by Groat on Monday 5th April 23:50
What do you propose will happen when the hundreds of thousands of people struggling to get on the property ladder all turn up for the open day in that flat?
It's a common theme in these discussions - some idiot opens rightmove and searches by 'lowest price first,' then posts a s
thole in the middle of nowhere which needs £50,000 spending to make it livable, with no jobs other than sheep sheering. Shades of the Yorkshiremen sketch here. There are whole towns to prove that many boomers did buy new builds, and there are millenials who fix up houses and work their way up.
Almost anyone who bought almost any property in the late 20th century has done incredibly well out of it and to people in their early 20s with insecure jobs and little capital having to save up something like a year's salary while paying rent and seeing house prices rise faster than your savings makes it a pretty daunting task.
From young families I know it seems many end up in new builds not because they want shiny kitchens to post on Instagram but because by the time they do have a deposit they have a kid on the way and a couple of years of living in a building site in an area you don't want to stay in is a bit fraught.
We have more people living longer and we are not building enough houses.
Almost anyone who bought almost any property in the late 20th century has done incredibly well out of it and to people in their early 20s with insecure jobs and little capital having to save up something like a year's salary while paying rent and seeing house prices rise faster than your savings makes it a pretty daunting task.
From young families I know it seems many end up in new builds not because they want shiny kitchens to post on Instagram but because by the time they do have a deposit they have a kid on the way and a couple of years of living in a building site in an area you don't want to stay in is a bit fraught.
We have more people living longer and we are not building enough houses.
Groat said:
Assuming our millenial doesn't work in Kilmarnock or anywhere else local to the property. And yes, Ayrshire doesn't rate too highly on the statistical measures, but nor do many areas of Glasgow, or anywhere else for that matter.
The point is that the young low-waged 1st time buyer has to start on the bottom rung of the ladder (like all the boomers used to do) or else face the frustration of demanding what they simply can't afford.
I understand your point, but that particular property is a bad example. It's not local to Kilmarnock, it's more than 20 miles away!The point is that the young low-waged 1st time buyer has to start on the bottom rung of the ladder (like all the boomers used to do) or else face the frustration of demanding what they simply can't afford.
Edited by Groat on Monday 5th April 23:50
In Glasgow you can pick up a 1-bed for £50-80k if you're not fussy about the area, which is probably a more realistic 'bottom-rung' price. That's 2-4x the average yearly income in Scotland for a full-time employee. The same properties would've been ~£10k in 1980, when the average yearly income was £6k (I am happy to be fact-checked on these numbers by an actual boomer). That doesn't sound so bad, but this is all in one of the best value areas of the UK for property. I think millennials have it a little harder, even if they do skip the lattes and avocado toast.
ThatGuyWhoDoesStuff said:
......then posts a sthole in the middle of nowhere which needs £50,000 spending to make it liveable, with no jobs other than sheep shearing.
BOO HOO!! WAH! WAH! It's not NIIIIICE enough!! It's not got enough AMEEEEEENITIES!!! It's not in a city centre HOTSPOT!!!thole in the middle of nowhere which needs £50,000 spending to make it liveable, with no jobs other than sheep shearing. It's EX_COUNCIL!!!!!! It needs a FORTUNE SPENT to make it into 1 Hyde PAAAAARK!!! It doesn't come with a JOOOOOOOB at the wages I demand and I'd have to work from HOOOOOOME or do something ONLINE so I'm just going to SCWEAM and SCWEAM and SCWEAM until somebody sorts it ouuuuut for meeeee!!! BOO HOO!! WAH!! WAH!!
f
k off and learn to cut your cloth according to your measure....JuanCarlosFandango said:
and little capital having to save up something like a year's salary while paying rent.
More excuses and bad planning. I was working little jobs from the age of 14 and saving up most of my money. When the time came my now wife and I both had a nest egg that paid our deposit. We hadn’t rented a day in our lives...
Don’t dive into rented the day you finish education. Get a job and save like mad. If you take getting a roof of your own seriously then it is Eminently doable, even in 2021.
You’ve just not got to spend every spare penny on shiny nonsense.
It’s not possible to ‘live the life’ that you think you deserve at 21 with the money you will probably be earning at 21. Youngsters need some humility... you have to do the legwork and go without A LOT!!!
MrMan001 said:
I understand your point, but that particular property is a bad example. It's not local to Kilmarnock, it's more than 20 miles away!
In reality it's 16 miles or 20 minutes in a car/bus/train. But I thought everyone worked from home or did something online especially since the collapse of the highstreets and offices shut coz covid?
Glasgow's dumps have recently had a price jump but you're not far away and there's loads at £50-£80k which really doesn't require either much deposit or much income to buy.
So there really is no problem for millenials in Glasgow or virtually anywhere else other than a few hotspots.
Edited by Groat on Tuesday 6th April 00:40
Agreed, And it’s not even regionally sensitive.
My brother in law lives in a perfectly pleasant 1 bed flat in a Block of 4, which is currently valued at less than £70k. That’s less than a mile from the Merry hill shopping centre, 20 minute train ride from Birmingham in a nice middle of the road sort of place - not ex council. It’s honestly quite a nice area.
What the hell is wrong with people permanently looking for reasons not to save up for a small deposit. Take some personal responsibility, there are starter places like this up and down the country...
There’s more to life than blooming London, FFS
My brother in law lives in a perfectly pleasant 1 bed flat in a Block of 4, which is currently valued at less than £70k. That’s less than a mile from the Merry hill shopping centre, 20 minute train ride from Birmingham in a nice middle of the road sort of place - not ex council. It’s honestly quite a nice area.
What the hell is wrong with people permanently looking for reasons not to save up for a small deposit. Take some personal responsibility, there are starter places like this up and down the country...
There’s more to life than blooming London, FFS
Greg_D said:
More excuses and bad planning. I was working little jobs from the age of 14 and saving up most of my money. When the time came my now wife and I both had a nest egg that paid our deposit.
We hadn’t rented a day in our lives...
Don’t dive into rented the day you finish education. Get a job and save like mad. If you take getting a roof of your own seriously then it is Eminently doable, even in 2021.
You’ve just not got to spend every spare penny on shiny nonsense.
It’s not possible to ‘live the life’ that you think you deserve at 21 with the money you will probably be earning at 21. Youngsters need some humility... you have to do the legwork and go without A LOT!!!
True, but then quite a lot of what could be called poor planning is encouraged. Run up £50k of debts at university, go and do a gap year or two. So people are in their mid 20s by the time they're considering houses.We hadn’t rented a day in our lives...
Don’t dive into rented the day you finish education. Get a job and save like mad. If you take getting a roof of your own seriously then it is Eminently doable, even in 2021.
You’ve just not got to spend every spare penny on shiny nonsense.
It’s not possible to ‘live the life’ that you think you deserve at 21 with the money you will probably be earning at 21. Youngsters need some humility... you have to do the legwork and go without A LOT!!!
Also depending where your parents live and what you do, local opportunities may be extremely limited or non existent so you're into the rent trap before you start.
It isn't a case of making excuses, I'm sure in years to come plenty of millenials will own their homes and probably tut at the following generation for whatever they do.
Saving up a year's salary takes a bit of doing, and I think it is good for everyone to think about how we can make the goal of home ownership more attainable for more people.
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