Sunday, Jul 29, 2007
Spotlight on first time buyers
Firstrung: First time buyers the week in focus - Firstrung
The most disappointing news in relation to first time buyers this past week was the data from Scottish Widows suggesting that up to 56% of graduates still havn't managed to buy their first property up to ten years after graduating. First year Graduate salaries have barely moved in ten years, (circa 20-24K), house prices as we're all to aware have increased by 300%.
Posted by converted lurker @ 11:17 AM (229 views) Add Comment
5 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Scott said...
Most graduates are not worth the paper, beer and ink they consumed during their pointless courses, and that's without counting the price of the funny fags.
2. Rubberneck said...
Absolutely correct. As a graduate with a (moderately) useful to society qualification in Geology I spent 6 years drilling for oil in the North Sea. This was not however my first job after graduating in 1993 as unfortunately the country was in the middle of a particularly harsh recession which meant effectively there were no such things as graduate jobs. First of all I had to work in a Motorway service area clearing tables, washing dishes etc and then when I could stand this no longer I had the pleasure of cleaning cars as they came off the boat at the local docks. All this for less than whatever minimum wage is nowdays because then it didn't exist. After over 2 years of this I managed to get a pretty poorly paid "graduate" position and then after another 3 years of scrimping and saving I put down a deposit on a house at the bottom of the market in 1998. If the average graduate starts a job on £24k nowdays then I think they can at least save the deposit on a 1 bedroom flat to get them on the ladder if it's so important to them. If they didn't want to leave Uni in debt they shouldn't have bothered going to take a course in Psychology or childcare or whatever it is they have wasted 3 years doing. Swings and roundabouts.
3. Orwell said...
That's not fair Scott, how much work they do now....
4. denzil said...
The graduate starting pay barely moving over a 10 year period is not real surprise. Studying for a bachelors seems the norm these days for just about all school leavers which combined with a dumbing down of the curriculum offered by some Universities has devalued the bachelors degree significantly. To stand out from the crowd a masters almost places the graduate at the same level as a bachelors did 10-15 years ago.
Many Uni's these days are providing courses that are so poorly taught that often times it is not worth the poor student taking on the debt to attend.
5. Fidelio said...
I can relate to that. I'm an Oxbridge graduate 2 yrs out of university, and for a while I resented runaway house prices, then was bemused by them. Neither I, nor anybody I know of around the same age (whether they went to Oxbridge, a Russell group uni, any other uni, or didnt at all) have *any* aspirations to buy a house. Ever. People tend to think that rich(er) young people will, in the long term. But I'm beginning to think this is an issue uniting people of my age of all backgrounds.