Darxide

Um, no. Politicans realize that the vast majority of voters are stupid enough to believe whatever they say. http://www.youtube.com/watch?v=0YOh-rpvjYg

:-) Thanks! I take your point, and decided not to admit to being a puffer! I'm just a little worried because I have never rented before, so I don't have a reference to give. But, I'll view the house tomorrow, and if I like it, I'll submit my application and see what happens. I'll report back when I hear anything, thanks again for the advice.

Thanks guys, appreciate the advice. I understand why the LL may be weary of a single guy, but it's not like I'm a young party animal or anything, I'm 34. I believe that I would make a perfect tenant, bu how do I convince the LL of that? I don't have any pets, I don't drink, but I do smoke. Never indoors, but I will still have to declare it on the form. (Especially when I put down my employer, Gallaher LTD.) Is that likely to put him off too?

I'm wondering if anyone could give me some advice, as a first time renter? Basically, I'm single, and living at home with the folks while saving for a house deposit. But I've decided I'm not gonna wait any longer. Prices are still way too high, so screw it, I'm not gonna play that game. I'm happy to rent, and spend my spare cash on me. So, I'm going to look at a bungalow on thursday in BT16, asking £500 p/m, and I do like it, and the area. So, first thing, it's unfurnished. But a friend said they had to by law supply the major white appliances? Anyone know if thats true? Sounds bull to me. Second, it's advertised as minimum 12 month lease. Should I ask for longer? And will that give me scope to ask for a rent reduction? Third, How easy is it for the LL to terminate the lease, say if he decides to sell? (I'm looking long term here).. Fourth, if there is more than me after it, how appealing would a single guy, good job, good credit history be to the LL? I mean, are they likely to favour a young family or couple over me? And what could I do or say to help my chances of getting it? I would appreciate any advice.

I don't think it's as simple as that. I think a lot of sellers have accepted the fact, or already knew that they were overpriced. Trouble is, a lot of people can't afford to lower the price, either because they bought at peak, or MEW'ed themselves into massive debt. I know a few people myself who fit into that catagory. Trouble is, that the status quo is being maintained by goverment intervention, ie QE, mortgage rescue and historically low interest rates. That simply can't last. I don't wish to see a lot of people, including friends/family, lose their homes, or jobs, but something HAS to give. It's just a matter of when.

I think we really are sailing into uncharted waters here. A few years ago, nobody would have predicted that rates would be 0.5%, and stay there for so long. Nobody could have forseen that the BOE would print so much money out of thin air. (How many people had even heard of QE before the crash?) Fact is, nobody knows whats going to happen next regarding IR's. Because it's still to early to tell what effect the low IR and QE has really had. Rates may well stay low for years, or they could just as easy hit 8%, or even more. Can anyone really say that either of those options is 'not possible'? If so, I wish I had your powers.

I'm currently saving for a deposit, but when I do take a mortgage, I would like to stay at around 3.5x salary, maybe 4x. I still have to live, and above 4 would be 'uncomfortable'.

Very well put, and thats the problem. There are very few 'starter' homes available. That detached house is in my opinion reasonably priced, but it's not a first time buyer house. I'm a first time buyer, well, hoping to be, and the 1970's terrace would be perfect for me. But not at that price.

That actually highlights what I'm talking about. Thats a nice house ( I know the area ), and is probably about right for the money (out of my price range). But the house I'm looking at is a 1970's build ex-housing excutive terrace, and was on the market for the same price as your example! Madness, and only a fool would pay that. It's now down to £159,000, which is still fantasy land money. HOUSE RV

My plan is simple, I will save as much as I can until prices in my area reflect wages in my area (Dundonald). Granted, some have been cut, but not nearly enough. There are a few houses of the type I like listed on PN, and have been there for almost 2 years. Prime example, standard 3 bed terrace of the type I'm looking for, on PN for £159,000. (TDGTTS shows was on at peak for £175,000), but RV is only £75,000. So, until the big wake up call comes, and it will, I'm saving and waiting. Only a fool would buy now.

Am I right in assuming that this applies to new builds only?

Indeed. Just another example of not learning from someone else's mistakes.

If that quote turns out to be the case here, then we are all in big trouble.

You have to admire their PM for listning to the people. In his own words, "It is the job of the president of Iceland to make sure the nation's will is answered". If only our glorious leader thought like that.

Hmm, that might just make sense. I've seen a few properties in my area privately listed at peak prices, complete with home made 'for sale' sign. Might be that the EA's refused to list at peak price, but the seller is in denial.

Hmm, thats something I've always wondered. Are these type of graphs using 'declared' wages, or is there some sort of official record? I'm guessing there's a lot of 'rounding up' going on!

Lies, damned lies, and statistics. Where do they get average wage of £46k?????

Oh I'm very real about what a first time buy is, trouble is your figure of £100K or less is not real, at least where I live. My sister bought here in 2003 for £49k (small 3 bed terrace), now here we are 6 years later, just after a 'crash', and the house next door to her is on for £149k. I don't know about you, but my wages have not tripled in the last 6 years.

I see, and your not wishing hard times on FTB'ers like myself? Would it make you happy to see an entire generation left behind, with no hope of ever owning their own home? I work damn hard, I have since I left school, and there is not a hope in hell that I could buy a house at todays prices. I'm not worried though, you'd have to be blind not to see that we're in the biggest bull trap in history.

You've hit the nail on the head right there. And the short answer is, a long time.... People have been so conditioned by the media and other VI's, that they beleive thats the way it's supposed to be. It will take a long time to get over that, if we ever do.

Yes, but will spending cuts alone be enough? I suspect whoever wins the GE, tax rises will be unavoidable.

If he sold at the top, and buys at the bottom, then why can't he include it?

+2

Yup, that sums it up. Even if I did consider moving to the dark side, I can't. I've been wanting to buy for years, but I'm still priced out.

I guess the average house in NI would be a 3 bed terrace or semi. And in my area, that sort of house is still priced over £100k, in fact, there really isn't anything for under £100K, unless you go for a flat. I would consider myself to be on an average wage, and the bank will only lend me £80k. So, the 'average' house is still unaffordable to the average salary. Thats why I voted 20-30% more to go, because I really believe it has to happen before the economy can ever recover.