PopGun Posted February 20, 2018 Share Posted February 20, 2018 10 hours ago, mrtickle said: Charming, aren't they: Presumably that means "give one of the children away"?! The Fookwits Thats the whole point. £45-50k should be more than enough for a decent starter home or a do it upper if you need something bigger. The fact is you’re looking at three times that amount to make that big starter milestone in life, a privilege these mental degenerates took advantage off. Ah but double digit interest rates, rations, out door cr4pers etc. Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 20, 2018 Share Posted February 20, 2018 12 minutes ago, Dorkins said: I'm not at all convinced it was hard to buy a house in the 70s and 80s. It was a time of increasing homeownership rates, increasing real wages and a mass council house sell-off with juicy discounts. The average FTB was in their early 20s. Easy to do the sums. If you have ~10% inflation and ~10% wage inflation then you only need to slum the first 3-5 years and you are sorted. MIRAS took a bite out of the higher interest. Buying a house at 4x earnings, with 10% price inflation and 11% wage inflation is easy. Buying a house at 8x wages, with 5% price inflation and 0% wage inflation is impossible. Quote Link to comment Share on other sites More sharing options...
Dorkins Posted February 20, 2018 Share Posted February 20, 2018 4 minutes ago, spyguy said: Easy to do the sums. If you have ~10% inflation and ~10% wage inflation then you only need to slum the first 3-5 years and you are sorted. MIRAS took a bite out of the higher interest. Buying a house at 4x earnings, with 10% price inflation and 11% wage inflation is easy. Buying a house at 8x wages, with 5% price inflation and 0% wage inflation is impossible. Plus just look at the outcomes: 80% of over 65s own property, almost all of the rest don't need to as they have a secure council tenancy. Running a mile in under 4 minutes is difficult, not many people can do it. If 80% of an age cohort managed to do something that means it wasn't difficult. Quote Link to comment Share on other sites More sharing options...
happily renting Posted February 20, 2018 Share Posted February 20, 2018 As long as you’re over on mumsdebt, check out OH with unrealistic expectations, in which (and I can’t believe I’m not making this up) the other half “is the one being greedy when you think about it, wanting to pay a lot less for a house that is worth a lot more.” Quote Link to comment Share on other sites More sharing options...
Option5 Posted February 20, 2018 Share Posted February 20, 2018 8 hours ago, winkie said: Not that long ago anything was possible or achieveable, kids had freedom, they didn't need a degree, they could walk from one job to the next learning as they go......obtaining a secure home that one wage could pay for was possible, children had more siblings, nobody coveted the latest trainers, kids had fun and freedoms, they could fall down and hurt themselves.....no mobile phones, little TV.......they played together, lots of youth clubs and activities available for little or no cost, important life and social skills mastered, fewer stresses and pressures.......all kids had the capability to succeed if they wanted to, far more opportunities for everyone then imo. I was one of those, born in the 50s left (grammar) school at 16 as I was bored and went to do an engineering apprenticeship. Bought my first house age 22 etc etc. I was never particularly interested in money but somehow I have always found jobs that paid well. It was easier for us, there's no doubt about it, things now are totally out of hand and can't possibly be sustainable. I sold up and rented because it gives me the freedom to work where I like, I just rent locally but one day I suppose I will have to retire and will need somewhere to live hence my interest in HPC. Until I found this site I didn't notice how blinkered and naive most of my generation are, it seems blindingly obvious that things can't go on as they are now, I think their cosy little worlds might be heading into an ice age soon. Quote Link to comment Share on other sites More sharing options...
PopGun Posted February 20, 2018 Share Posted February 20, 2018 (edited) 9 hours ago, durhamborn said: Exactly.Its pretty simple for me.If someone works full time they should be able to afford to buy a house.The only affect how good the job is should be the size of the house etc.If someone who works full time cant buy a two bed terrace then the government has failed. This completely. Why is this so hard for people to understand? It’s not just Mumsnet. It seems every comment section/thread regarding housing affordability has over the last few weeks been overrun with pro HPI anti Young trolling. Why have they suddenly all come out of the woodwork (again)? Are they scared sentiment is turning? Has Fergus Wilson enlisted a Russian Troll factory? Completely overrun with the same tired old platitudes and arguments. Edited February 20, 2018 by PopGun Quote Link to comment Share on other sites More sharing options...
leonardratso Posted February 20, 2018 Share Posted February 20, 2018 no worries, they wont be able to troll from beyond the grave. Quote Link to comment Share on other sites More sharing options...
Eva24 Posted February 20, 2018 Share Posted February 20, 2018 It seems everyone on that site thinks they have had it hard, I suppose if some of them have lived through previous crashes and huge interest rates they may have a point. Still I’m surprised by the lack of basic empathy. They sound like a bunch of callous older women. Could it be that most people once they personally are sorted just don’t care, nor interested in or have any real understanding of economics.... Quote Link to comment Share on other sites More sharing options...
Dorkins Posted February 20, 2018 Share Posted February 20, 2018 1 hour ago, happily renting said: check out OH with unrealistic expectations, in which (and I can’t believe I’m not making this up) the other half “is the one being greedy when you think about it, wanting to pay a lot less for a house that is worth a lot more.” First reply on that thread: "supply and demand". I feel like this phrase could be substituted with "suck it up youngsters" in almost all contexts. Quote Link to comment Share on other sites More sharing options...
Lavalas Posted February 20, 2018 Share Posted February 20, 2018 1 hour ago, happily renting said: As long as you’re over on mumsdebt, check out OH with unrealistic expectations, in which (and I can’t believe I’m not making this up) the other half “is the one being greedy when you think about it, wanting to pay a lot less for a house that is worth a lot more.” Stay strong, OH (and PIL). You are a bold soldier. Quote Link to comment Share on other sites More sharing options...
Option5 Posted February 20, 2018 Share Posted February 20, 2018 They remind me of the Sarah Beeny adverts for Tepilo, "Not a penny less" she advises (twice), just after insulting a client by telling her her bathroom tiles are dirty Quote Link to comment Share on other sites More sharing options...
durhamborn Posted February 20, 2018 Share Posted February 20, 2018 (edited) 24 minutes ago, Yvonne said: It seems everyone on that site thinks they have had it hard, I suppose if some of them have lived through previous crashes and huge interest rates they may have a point. Still I’m surprised by the lack of basic empathy. They sound like a bunch of callous older women. Could it be that most people once they personally are sorted just don’t care, nor interested in or have any real understanding of economics.... I think a lot of it is people only have housing equity so its the thing that makes them feel smug.Others have a big mortgage and would be stuffed when interest rates increase a lot. A woman i know is about to lose her smug outlook.Her husband has a good job and they MEWed over the years,new cars,holidays a new sofa every couple of years,house moves etc.He told her yesterday hes leaving her for some woman he has met while working away.There will be hardly any equity in the big house.He will pay the mortgage for another 3 years because his youngest is 15,but then the house will be sold.They might get £10k each.She will be 47 with a part time job in Asda.She wont be able to buy anything on her wage.The years of spending everything including what the house went up are about to catch up and it will be a huge shock to the system. High house prices are a poison on society for many reasons and not just on people buying now or priced out. Edited February 20, 2018 by durhamborn Quote Link to comment Share on other sites More sharing options...
Dorkins Posted February 20, 2018 Share Posted February 20, 2018 3 minutes ago, Lavalas said: Stay strong, OH (and PIL). You are a bold soldier. OH has already lost, his partner has no clue about the value of money e.g. how much work it takes to hold £20k in your hand. Financially clueless people should shack up together, they can bond over puzzlement at why they don't have a pot to urinate in after decades of mindlessly copying what everybody else was doing. Quote Link to comment Share on other sites More sharing options...
GregBowman Posted February 20, 2018 Share Posted February 20, 2018 2 hours ago, Dorkins said: Plus just look at the outcomes: 80% of over 65s own property, almost all of the rest don't need to as they have a secure council tenancy. Running a mile in under 4 minutes is difficult, not many people can do it. If 80% of an age cohort managed to do something that means it wasn't difficult. Very Good and well put. Quote Link to comment Share on other sites More sharing options...
Slimline Posted February 20, 2018 Share Posted February 20, 2018 Spoke to a guy i used to know recently who has mortgaged himself to the hilt for his place. His answer when pressed about how he'll afford it long term... "I'll release equity in a few years when it's gone up". Quote Link to comment Share on other sites More sharing options...
Cosmic Apple Posted February 20, 2018 Share Posted February 20, 2018 4 minutes ago, Slimline said: Spoke to a guy i used to know recently who has mortgaged himself to the hilt for his place. His answer when pressed about how he'll afford it long term... "I'll release equity in a few years when it's gone up". The solution to debt is debt, didn't you know?! Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 20, 2018 Share Posted February 20, 2018 16 minutes ago, Yvonne said: It seems everyone on that site thinks they have had it hard, I suppose if some of them have lived through previous crashes and huge interest rates they may have a point. Still I’m surprised by the lack of basic empathy. They sound like a bunch of callous older women. Could it be that most people once they personally are sorted just don’t care, nor interested in or have any real understanding of economics.... I think its worse than that. The majority of mumsnets poster are very much debtmonkey/BTL loons. borrow more + more + more. The reality that anyone owning a property is that, bar the last 15 years of IO BTL loons, post-MMR houses will ltransact at 20% deposit, 4x house income - net of any other debt and recurring spend. Idiots borrowing 100ks to build up an IO BTL chain and idiots taking out IO OO mortgages have driven the housing market from 2002ish. Both these are dead. Going forward, the UK housing is driven by much lower credit. At the moment, this is showing up in much lower transactions. One of the side effects of QE is that people feel hey can hold their position. They really cannot as IR turn up - not to 10+, just 4-5, and with a spread of BoE rates of 3-4, mortgages will become very expensive. If you know what the housing market of the next 10 years will look like just checkout how much people i ntheir 20s + 30s are earning today and times it by 4. Quote Link to comment Share on other sites More sharing options...
Locke Posted February 20, 2018 Share Posted February 20, 2018 Quote I prioritised getting a house over getting a car as houses appreciate and cars depreciate Hmmm Quote Link to comment Share on other sites More sharing options...
Locke Posted February 20, 2018 Share Posted February 20, 2018 3 hours ago, happily renting said: As long as you’re over on mumsdebt, check out OH with unrealistic expectations, in which (and I can’t believe I’m not making this up) the other half “is the one being greedy when you think about it, wanting to pay a lot less for a house that is worth a lot more.” She sounds like a barrel of laughs. I wonder what motives she may have regarding house price sentiment? This is a sick joke. Quote Link to comment Share on other sites More sharing options...
leonardratso Posted February 20, 2018 Share Posted February 20, 2018 How dare you criticize, do you not know that mumsnet is font of all knowledge and sense. Ive been asking them for advice for years in various deep and meaningful posts over there, and as soon as i get a consensus from the posters, i immediately do the opposite. Its been wonderful. Quote Link to comment Share on other sites More sharing options...
Houdini Posted February 20, 2018 Share Posted February 20, 2018 6 minutes ago, Locke said: She sounds like a barrel of laughs. I wonder what motives she may have regarding house price sentiment? This is a sick joke. Or waiting until prices suit you. Which given how the market is going to play out over the next few years means it makes sense to only bid what you can afford. Quote Link to comment Share on other sites More sharing options...
Riedquat Posted February 20, 2018 Share Posted February 20, 2018 Children are involved - don't have kids if you can't afford them, so they lose a little bit of sympathy there from me, although only a little since there's not more than two, and someone in their position should be able to afford to support their children and have a home. So I pretty much agree with the sentiments on this thread. Quote Link to comment Share on other sites More sharing options...
leonardratso Posted February 20, 2018 Share Posted February 20, 2018 they should have 6 to 10 then they wouldnt need to worry about it. Quote Link to comment Share on other sites More sharing options...
Dorkins Posted February 20, 2018 Share Posted February 20, 2018 11 minutes ago, leonardratso said: they should have 6 to 10 then they wouldnt need to worry about it. 2 child limit on child tax credits as of April 2017. Quote Link to comment Share on other sites More sharing options...
maverick73 Posted February 20, 2018 Share Posted February 20, 2018 20 minutes ago, Dorkins said: 2 child limit on child tax credits as of April 2017. The country is in a spin, it gives beyond its affordability, its not generating enough revenue to support its base. Quote Link to comment Share on other sites More sharing options...
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