JimDiGritz Posted February 19, 2012 Share Posted February 19, 2012 How to get on the property ladder before you hit 30 Lots of HPC comments starting to filter through into the MSM.. come and join the party! Quote Link to comment Share on other sites More sharing options...
Asheron Posted February 19, 2012 Share Posted February 19, 2012 (edited) How to get on the property ladder before you hit 30 Lots of HPC comments starting to filter through into the MSM.. come and join the party! HAHA LOVE THIS POST............ Gold Bug Today 04:43 PM Yes absolutely. Must get the under 30's into debt slavery at the earliest opportunity. Never mind that houses are still 30 to 50% over valued, interest rates might well go into orbit, prices could crash anytime, pensions are invested in a grossly over priced stock market or government bonds which have all the security of an unarmoured Land Rover driving past an IED. After all financial advisors have no vested interest in selling mortgages or propping up the property and pension market, have they? Personally I'd go for precious metals, productive farmland and a second passport from Chile. Edited February 19, 2012 by Asheron Quote Link to comment Share on other sites More sharing options...
Asheron Posted February 19, 2012 Share Posted February 19, 2012 (edited) All those real estate *****ers at the end of the article who are spreading the ******** on twitter Edited February 19, 2012 by Asheron Quote Link to comment Share on other sites More sharing options...
cybernoid Posted February 19, 2012 Share Posted February 19, 2012 That woman is 40+ Quote Link to comment Share on other sites More sharing options...
strawbear Posted February 19, 2012 Share Posted February 19, 2012 There are some good negative comments about relying on the bank of mum and dad ,when they are going to need every penny as incomes and pensions are squeezed . My parents always told me if you cant afford it yourself you cant buy it. My grandfather always said never buy anything until you can afford it twice!! Quote Link to comment Share on other sites More sharing options...
NEO72 Posted February 19, 2012 Share Posted February 19, 2012 They also have around £2,000 worth of Tesco shares through John's employee share save scheme. However, Anna said after the price tumbled recently, she was concerned about the market falling further. And then in the next breath: Anna said they hoped to save £30,000 for a deposit on a £200,000, two-bedroom house FFS!! Quote Link to comment Share on other sites More sharing options...
Stay Beautiful Posted February 19, 2012 Share Posted February 19, 2012 From the comments: "There is no ladder". I'm sure i've read that somewhere else before. Quote Link to comment Share on other sites More sharing options...
JustYield Posted February 20, 2012 Share Posted February 20, 2012 From the comments: "There is no ladder". I'm sure i've read that somewhere else before. Quote Link to comment Share on other sites More sharing options...
billybong Posted February 20, 2012 Share Posted February 20, 2012 We talk to two people in their twenties and asks our experts how they can best save for the future. Bearing in mind of course that the governor of the Bank of England no less recently said that helping savers would put the UK in recession. Quote Link to comment Share on other sites More sharing options...
JimDiGritz Posted February 20, 2012 Author Share Posted February 20, 2012 Oddly (!) the DT have removed this blog entry from the homepage and replaced it with an older one!.. Maybe the negative comments upset someone.. Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted February 20, 2012 Share Posted February 20, 2012 Good comments! Quote Link to comment Share on other sites More sharing options...
@contradevian Posted February 20, 2012 Share Posted February 20, 2012 I see Sibley has got in there/.. This is a sad situation. Once the banks free lending up and make the 100% mortgage more easily available these youngsters will be able to get their dream home and secure their future. House prices have risen 4.1% already this month. People must buy now or they will be priced out. Quote Link to comment Share on other sites More sharing options...
Si1 Posted February 20, 2012 Share Posted February 20, 2012 Anna, who earns £20,000 as a help desk administrator...struggles to save much because she spends around £900 each month on living costs.To date, Anna has saved £2,500, which is deposited in a Santander e-saver Isa, and last year the couple bought a couple of ounces of gold. They also have around £2,000 worth of Tesco shares through John's employee share save scheme.... .... Anna said they hoped to save £30,000 for a deposit on a £200,000, two-bedroom house and were prepared to look further afield to suit their budget. these people will always be poor Quote Link to comment Share on other sites More sharing options...
Timak Posted February 20, 2012 Share Posted February 20, 2012 these people will always be poor But they shouldn't be. In any other recent generation a couple both earning around the national average salary would be able to buy a reasonable house. If you live in somewhere like Cambridge, for example, your living costs (rent+council tax+utilities+transport+food) will come to around £1200 a month for a couple (or about £1000 for an individual) Quote Link to comment Share on other sites More sharing options...
Si1 Posted February 20, 2012 Share Posted February 20, 2012 (edited) But they shouldn't be. In any other recent generation a couple both earning around the national average salary would be able to buy a reasonable house. If you live in somewhere like Cambridge, for example, your living costs (rent+council tax+utilities+transport+food) will come to around £1200 a month for a couple (or about £1000 for an individual) no they shouldn't, I agree, but even now on their incomes at this time in history they should not be either they appear to have gone into shares when they were high, gold when it was high, and want to buy a house as soon as possible whislt prices are still high in reality they are tactically avoiding opportunities and heading deliberately for the biggest pitfalls available I think most people do this, so despite a lifetime of earning they end up with nothing the boomers generation, outside the public sector, have very little as far as I can tell besides housing wealth, which they are holding onto and will lose as prices subside, for example, it is the way of things it is something to do with the human condition Edited February 20, 2012 by Si1 Quote Link to comment Share on other sites More sharing options...
JimDiGritz Posted February 20, 2012 Author Share Posted February 20, 2012 no they shouldn't, I agree, but even now on their incomes at this time in history they should not be either they appear to have gone into shares when they were high, gold when it was high, and want to buy a house as soon as possible whislt prices are still high in reality they are tactically avoiding opportunities and heading deliberately for the biggest pitfalls available I think most people do this, so despite a lifetime of earning they end up with nothing the boomers generation, outside the public sector, have very little as far as I can tell besides housing wealth, which they are holding onto and will lose as prices subside, for example, it is the way of things it is something to do with the human condition To be fair ZIRP has meant that savers are being forced into risky asset classes (shares) or safe havens (Gold). I remember 12 years ago getting over 5% in my ING savers account. Quote Link to comment Share on other sites More sharing options...
Si1 Posted February 20, 2012 Share Posted February 20, 2012 To be fair ZIRP has meant that savers are being forced into risky asset classes (shares) or safe havens (Gold). I remember 12 years ago getting over 5% in my ING savers account. you are confusing saving and investing Quote Link to comment Share on other sites More sharing options...
JimDiGritz Posted February 20, 2012 Author Share Posted February 20, 2012 you are confusing saving and investing No, I'm pointing out that the lack of real saving vehicles means that people are having to speculate. Quote Link to comment Share on other sites More sharing options...
Si1 Posted February 20, 2012 Share Posted February 20, 2012 No, I'm pointing out that the lack of real saving vehicles means that people are having to speculate. nope, you are confusing saving and investing, I mean this nicely, i like your posts, but you really are confusing saving with investing Quote Link to comment Share on other sites More sharing options...
JimDiGritz Posted February 20, 2012 Author Share Posted February 20, 2012 nope, you are confusing saving and investing, I mean this nicely, i like your posts, but you really are confusing saving with investing Then maybe I'm missing the obvious here... I'm making a distinction between saving and investing based purely on risk. My point is simply that 20 years ago, to maintain the value of your money all you had to do was put it in a basic savings account. There was no need to take any risk, invest or speculate. Today, with negative real returns for savers (especially top rate tax payers), to build up a deposit requires a switch into investing or speculating which has an inherent risk. I agree that most people seem to be aimlessly piling into investments and speculation without a clear understanding of their objectives, however I guess I have just made a simple point badly. Quote Link to comment Share on other sites More sharing options...
Si1 Posted February 20, 2012 Share Posted February 20, 2012 Then maybe I'm missing the obvious here... I'm making a distinction between saving and investing based purely on risk. My point is simply that 20 years ago, to maintain the value of your money all you had to do was put it in a basic savings account. There was no need to take any risk, invest or speculate. Today, with negative real returns for savers (especially top rate tax payers), to build up a deposit requires a switch into investing or speculating which has an inherent risk. I agree that most people seem to be aimlessly piling into investments and speculation without a clear understanding of their objectives, however I guess I have just made a simple point badly. yes, fair enough i suspect people have simply become used to the idea that cash can give a good return i think they have been lulled into this, and need to re-assess their saving/inveswtment balance accordingly, and then invest (if that is their decision) rationally instead of chasing fads but yes, I suppose i don't disagree Quote Link to comment Share on other sites More sharing options...
rantnrave Posted February 20, 2012 Share Posted February 20, 2012 Today, with negative real returns for savers (especially top rate tax payers), to build up a deposit requires a switch into investing or speculating which has an inherent risk. If you're building up a deposit, then the real rate of returns should be measured against house price inflation, not RPI. That is of course a regional issue, but, for example, I'm getting 3% with Santander (yes I know) in an area where the Land Reg says house prices are down 4% YoY. I would much rather be in that sceanrio than earning 5% interest on my deposit in the bank whilst house prices around me are increasing 10% YoY. Apols if this point is being over done on HPC at the mo... Quote Link to comment Share on other sites More sharing options...
porca misèria Posted February 20, 2012 Share Posted February 20, 2012 no they shouldn't, I agree, but even now on their incomes at this time in history they should not be either There was a brief window of opportunity for something close to that in the 1990s. So of course that becomes a historic norm for whingers. the boomers generation, outside the public sector, have very little as far as I can tell besides housing wealth, which they are holding onto and will lose as prices subside, for example, it is the way of things The 'boomer generation' have had many years of life to separate savers from spendthrifts, winners from losers, etc. Those who've done well are sitting on lots of assets (less what they spend on their kiddies), those who've done less well are sitting on little or nothing, without much time to catch up. A generation hence, it'll be another generation in that position. Quote Link to comment Share on other sites More sharing options...
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