Now that everyone is renting their music and cars

[TooMany2cvs]

HustleRussell said:

To be frank I can’t see £200k value in that. That is half of half of a house in a less than ideal location which has been developed to the max. You don’t get a normal flat for £200k. I look at places at 260 which believe it or not are ok value wise (have some potential).

You can afford it.

You might or might not be able to afford more, where you want.
You can afford more elsewhere.

It's called compromise.

If you really want to buy, then you'll decide what you want to compromise on. If you can't or won't decide, then you don't want to buy that badly.

[HustleRussell]

OldGermanHeaps said:

Then move somewhere you can afford, or be happy renting, or earn more. The world is your oyster when you dont have kids and a mortgage to worry about, less comaining more action.

Don’t worry, I know that- hence not rushing into anything. Actively job searching among other things.

[HustleRussell]

TooMany2cvs said:

HustleRussell said:

To be frank I can’t see £200k value in that. That is half of half of a house in a less than ideal location which has been developed to the max. You don’t get a normal flat for £200k. I look at places at 260 which believe it or not are ok value wise (have some potential).

You can afford it.

You might or might not be able to afford more, where you want.
You can afford more elsewhere.

It's called compromise.

If you really want to buy, then you'll decide what you want to compromise on. If you can't or won't decide, then you don't want to buy that badly.

It’s a fair comment. I was reall just trying to give a tangible example not turn this into HustleRussell’s woe is me property thread.

[Ricky146a]

HustleRussell said:

To be frank I can’t see £200k value in that. That is half of half of a house in a less than ideal location which has been developed to the max. You don’t get a normal flat for £200k. I look at places at 260 which believe it or not are ok value wise (have some potential).

Then you really should be getting one of those. Your 60k will not be doing you any favours in the bank whilst the house will go up by 5 or 10% or more (and so will your 60k investment).
Do not think it is any different really to years ago. I was looking to buy my first house in the early 70's. All I could afford was Chatham at £6800 for a 3 bed terraced house. I was gazumped and fell out of the property race for 15 years. By the way, 2 1/2 times was the normal then for mortgages with a 10% deposit.

I know that youngsters today (I hate that expression) have so many more social pressures than we did back then such as mobiles, social media, flash cars and clothes etc but it comes down to making a choice and cutting your cloth accordingly.
What is more important? Long term stability, inheritance to pass on or help your kids with? Or enjoying yourself now. Finding the balance is difficult and I do not envy you but all us older ones have gone through the same rite of passage.

[tighnamara]

drainbrain said:

Yep buying again, but really enjoying renting.

Many people enjoy staying in holiday homes. Which is why they buy them. Only a few can afford homes they're happy to live in here there and everywhere. I'd imagine almost everyone would enjoy that. And it's a lot more affordable to do it as a tenant. And if it gets boring you move on to the next one.

Doesn’t make sense, first your saying why not rent it’s great, then your saying many people enjoy holiday homes so go and buy them.

I enjoy holiday homes but wouldn’t enjoy staying full time in them whilst working and having a family.

[g3org3y]

Bought my first home at 33. After many years renting (including grotty hospital accommodation), nice to have a place to call home.

House buying is all about compromises. The more money you have, the fewer compromises you have to make.

[DoubleD]

g3org3y said:

Bought my first home at 33. After many years renting (including grotty hospital accommodation), nice to have a place to call home.

House buying is all about compromises. The more money you have, the fewer compromises you have to make.

I dont think that is necessarily true. When you have more money you expect more.

[Vincefox]

Ten doughnuts.

[covmutley]

Young people can afford to buy a house, just not the one they want. Within an hour commute of Cardiff you can buy a home for £40k.

Lady in my work cannot afford to buy where she wants in Bristol so rents and seems to spend a fortune on eating out etc. She doesn't whinge about it to be fair, buying just not her priority.

Perhaps the SE is not affordable, but I have limited sympathy. I remember watching a Question Time when a young teacher had moved to London but couldn't afford a house. If you are going to move to a world city, what the hell do you expect.

All just part of the entitlement snowflake culture where kids grow up being told that they have rights, no winners or losers, everything is society's fault and the government needs to solve their problems

Edited by covmutley on Saturday 17th February 18:16

Edited by covmutley on Saturday 17th February 18:17

[DoubleD]

covmutley said:

All just part of the entitlement snowflake cultIt's where kids grow up being told that they have rights, no winners or losers everything is society's fault and the government needs to solve their problems

Edited by covmutley on Saturday 17th February 18:16

This paragraph is such a commonly written thing on PH. Its rather tedious to be honest.

[HustleRussell]

Yup.

[drainbrain]

Have you thought about renting somewhere nice with others ?

[Funk]

Bought my home (appreciating) and now leasing my car (depreciating). I did buy most of my previous cars outright; the last one was £5k and then nearly £2k in maintenance in the year I had it. Sold for £3,500 last month so a net cost of £3.5k last year. With that kind of annual outlay I decided I'd rather be driving something new, faster, better equipped, safer and more fun with zero unexpected maintenance costs to crop up - so I'm giving leasing a go for a couple of years.

[227bhp]

DoubleD said:

covmutley said:

All just part of the entitlement snowflake cultIt's where kids grow up being told that they have rights, no winners or losers everything is society's fault and the government needs to solve their problems

Edited by covmutley on Saturday 17th February 18:16

This paragraph is such a commonly written thing on PH. Its rather tedious to be honest.

Yes people hate having the unpalatable truth rammed under their noses.

[nickfrog]

227bhp said:

DoubleD said:

covmutley said:

All just part of the entitlement snowflake cultIt's where kids grow up being told that they have rights, no winners or losers everything is society's fault and the government needs to solve their problems

Edited by covmutley on Saturday 17th February 18:16

This paragraph is such a commonly written thing on PH. Its rather tedious to be honest.

Yes people hate having the unpalatable truth rammed under their noses.

"The children now love luxury; they have bad manners, contempt for authority; etc etc..."









Socrates (469–399 B.C.)

[nickfrog]

227bhp said:

nickfrog said:

HustleRussell said:

Classic PH, I point out that modest property around me is out of reach even though I have worked full time since I was 18, saved up a significant deposit and have a job which pays a moderate wage and PH deduces that I’m socially inept, work shy and ‘can’t be arsed’ to do anything.

Yes I saw the comment and it was very condescending, particularly in light of your contributions to PH who are very eloquent and useful.

You don't exactly come across as a thick slacker and I sympathise with you as my kids are only slightly younger than you, very successful too professionally but simply won't buy a home for a while, however clever/creative they are.

You and them belong to the first generation who didn't surf the affordable property wave because there isn't one and it's very easy for older people to be condescending when the only thing they had was luck on their side, almost however thick/uneducated they were.

Awww, there there, stroke his hair
It's precisely that attitude from your generation that has brought them up to be the way they are now, that's why they don't get it.
It's nothing to do with luck, I decided to work hard for it - you must have missed my point where I said I'm not advising how he spends his money, just don't complain when you decide to go motor racing and can't afford to buy a £400k house.
It's a relatively pointless argument anyhow unless he submits a spreadsheet listing all his incoming and outgoing, and that's not going to happen (neither would I).

Would you afford me some sympathy if I posted up I can't afford to race because i've got a mortgage to pay? I do doubt it.

Not sure about the stroking, what you do with other men in your free time is entirely up to you.

If you even glance at the evolution of house prices vs income over the past 20 years, you might realise that being on the market at the right time through luck is a massive factor, however hard you work at your luck. The data is simply compelling.

I don't believe in sweeping statements so no it's not always or not just because of lack of luck. Conversely, I don't believe EVERYONE in my generation have brought kids up with a particular attitude (actually humans don't change that quickly, it's very slow and gradual) nor that "they" are ALL like you say, it's just a minority, probably a noisy one though, hence the misguided perception.

[DoubleD]

227bhp said:

DoubleD said:

covmutley said:

All just part of the entitlement snowflake cultIt's where kids grow up being told that they have rights, no winners or losers everything is society's fault and the government needs to solve their problems

Edited by covmutley on Saturday 17th February 18:16

This paragraph is such a commonly written thing on PH. Its rather tedious to be honest.

Yes people hate having the unpalatable truth rammed under their noses.

And you dont think that older generations have always thought this?

[tleefox]

andrewparker said:

In the last 7 years my house has increased by around £10k every year. So no. I can also do what I want to it and improve it as I want.

Moved in October last year and in 4 years our house went up by £215k, or 45%.

[505diff]

Many 20 something’s at work tell me how lucky I am to have a house, most of them have:
News cars
New phones
Gym membership
The latest gadget stuff
A cloths shopping habit
Netflix, amazon prime, Spotify
Spend the best part of £100 a week on Costa & meal deal lunches
Go out on the town two to three times a week
Long weekends away, attend stag/hen do’s at every opportunity
But will never afford a house
Some even ask me why i have a packed lunch everyday........

[DonkeyApple]

Flibble said:

I was offered a mortgage in that range, I chose not to go for it, but it's not unheard of by any means.

That said, I don't think it's straight up salary multiples any more, it's about how much left after other commitments, so for someone with low outgoings the multiple will seem high.

Edited by Flibble on Saturday 17th February 16:28

Indeed. If the lender sees lots of unecassary spend on your bank accounts the. They are quite rightly going to reduce the multiple as you’re more of a credit risk.