D.C. Posted July 23, 2009 Share Posted July 23, 2009 I for one couldn't bear the thought of living with my parents again and wish I had got out earlier than 25. All men should aim to buy/rent their own home for at least a couple of years before settling down so they can play the field in peace. That sounds very trainspotting. So mandatory life for all males is: Go to uni get drunk and get 2.1 in crappy subject. Get debt. Get crappy job. Get shag pad. Drink & shag. Get married. Get mortgaged. spawn brats. Cheat on wife. Get divorced. Lose loads selling in negative equity. Get shag pad. Drink & shag. Have crisis and buy motorbike. etc. etc. Just sounds rather boring to me, sorry doesn't appeal. Quote Link to comment Share on other sites More sharing options...
Laughing Gnome Posted July 23, 2009 Share Posted July 23, 2009 Put it this way then.When I was in my mid twenties I was out enjoying myself, as were all my friends. We weren't interested in thinking about settling down. Does that make us ignorant or make the ones who think we were stupid and irresponsible ignorant? It makes you lucky to get away with it, assuming you are financially secure now and not sitting in your bedsit in your pants. For some of us, being an oblivious hedonist was never an option. Quote Link to comment Share on other sites More sharing options...
bingobob777 Posted July 23, 2009 Share Posted July 23, 2009 That sounds very trainspotting.So mandatory life for all males is: Go to uni get drunk and get 2.1 in crappy subject. Get debt. Get crappy job. Get shag pad. Drink & shag. Get married. Get mortgaged. spawn brats. Cheat on wife. Get divorced. Lose loads selling in negative equity. Get shag pad. Drink & shag. Have crisis and buy motorbike. etc. etc. Just sounds rather boring to me, sorry doesn't appeal. yet you seem to have it all planned out Quote Link to comment Share on other sites More sharing options...
bingobob777 Posted July 23, 2009 Share Posted July 23, 2009 It makes you lucky to get away with it, assuming you are financially secure now and not sitting in your bedsit in your pants.For some of us, being an oblivious hedonist was never an option. More fool you then. Quote Link to comment Share on other sites More sharing options...
Neverland Posted July 23, 2009 Share Posted July 23, 2009 That sounds very trainspotting.So mandatory life for all males is: Go to uni get drunk and get 2.1 in crappy subject. Get debt. Get crappy job. Get shag pad. Drink & shag. Get married. Get mortgaged. spawn brats. Cheat on wife. Get divorced. Lose loads selling in negative equity. Get shag pad. Drink & shag. Have crisis and buy motorbike. etc. etc. Just sounds rather boring to me, sorry doesn't appeal. Depends how much you drink and what you shagged/married? Hmm I'm only half way, better hurry up Quote Link to comment Share on other sites More sharing options...
Laughing Gnome Posted July 23, 2009 Share Posted July 23, 2009 My point is that there are more than a few people on here who like to blame someone else for what they perceive to be injustices, be it landlords, baby boomers or countless others. It's never their own fault that they can't get what they want. So you are sitting in your bedsit in your underpants! Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted July 23, 2009 Share Posted July 23, 2009 Save your breath. It has become crystal clear to me that an ominously large proportion of people are thick. It is seriously depressing - but there you are. I believe that comes under the Darwian principle of 'fittest for survival within the environment'. In this case it involves the principle of age over beauty. Quote Link to comment Share on other sites More sharing options...
Houses_Burning Posted July 23, 2009 Share Posted July 23, 2009 I have noticed that a work a few more people are talking about buying now, even though we are faced with such negative economic news. Our company is doing ok but no pay rises were given this year, so you would think that would make people a bit more cautious about making large financial decisions.Most of those discussing buying, refer to it as an investment and dont see any problem paying the over inflated prices still being asked as "affordability is ok due to interest rates". I have pointed out to some of them that they were barely teenagers when labour came into power, they have only every seen property prices rise, and a massive credit boom, To which I just get a blank look and get told that "property is an investment"...................argggggggh! I am in my mid twenties and realised property was overvalued when i was looking at the cost of flats around 4 years ago. I thought to myself this is unsustainable and decided to carry on saving my money for a future deposit. I am glad i stuck with my instinct because i now have my sights on buying a detached property, the lower end detached houses are within my reach in my area although i think they are still vastly overpriced. The funny thing is during the last 4 years my dad who is in his fifties used to say to me that i should buy a flat/house before they get out of reach as the prices will keep going up. He knew my views on the subject but it didnt stop him saying this. When the crash started his views changed to prices wont go up but will level off flat for a while, this view lasted for quite a while. When it was common knowledge that prices were falling he lately said to me it might be a good time to buy as prices could go back up. Im sorry to say that i wont be going to my dad in the future for financial advice and i will wait around 3 years until i buy a house. My point is that i think there are alot of people 40+ with the same views as some of the people in their twenties. I think the problem is that some of them had it too good for too long and they are in denial about the new reality. Quote Link to comment Share on other sites More sharing options...
Neverland Posted July 23, 2009 Share Posted July 23, 2009 I am in my mid twenties and realised property was overvalued when i was looking at the cost of flats around 4 years ago. I thought to myself this is unsustainable and decided to carry on saving my money for a future deposit. I am glad i stuck with my instinct because i now have my sights on buying a detached property, the lower end detached houses are within my reach in my area although i think they are still vastly overpriced.The funny thing is during the last 4 years my dad who is in his fifties used to say to me that i should buy a flat/house before they get out of reach as the prices will keep going up. He knew my views on the subject but it didnt stop him saying this. When the crash started his views changed to prices wont go up but will level off flat for a while, this view lasted for quite a while. When it was common knowledge that prices were falling he lately said to me it might be a good time to buy as prices could go back up. Im sorry to say that i wont be going to my dad in the future for financial advice and i will wait around 3 years until i buy a house. My point is that i think there are alot of people 40+ with the same views as some of the people in their twenties. I think the problem is that some of them had it too good for too long and they are in denial about the new reality. Good point What they put on investment literature is something like" Returns in the past are no guide to the future" Quote Link to comment Share on other sites More sharing options...
I want a house! Posted July 23, 2009 Share Posted July 23, 2009 Don't worry we get it! Well at least some of us get it. Others are just pure idiots who think they can get money for nothing, chicks for free.. Quote Link to comment Share on other sites More sharing options...
f00 Posted July 23, 2009 Share Posted July 23, 2009 Save your breath. It has become crystal clear to me that an ominously large proportion of people are thick. It is seriously depressing - but there you are. they can't all be thick - they all have straight A's in whatever passes as an examination these days:P bring back the O' and A' Level proper !! Quote Link to comment Share on other sites More sharing options...
murpaul Posted July 23, 2009 Share Posted July 23, 2009 I dont think I'll ever buy property. Thought about it for a while but I really am not keen on the idea of paying maybe the price of the property again in interest payments to the lender. Better to use compound interest to MY advantage rather than the banks. I understand the desire to buy but its the bloody cost of it. It's a swap between retiring with an liveable income at 50 or working on to 70 in order to own a house (and never getting the chance to save for a pension so having to sell it anyway)? Quote Link to comment Share on other sites More sharing options...
bingobob777 Posted July 23, 2009 Share Posted July 23, 2009 So you are sitting in your bedsit in your underpants! only in your dreams Quote Link to comment Share on other sites More sharing options...
Lone_Twin Posted July 23, 2009 Share Posted July 23, 2009 I would call that earning "an income on an investment"Personally I think many of these amateur landlords have been rather silly, but most aren't evil vampires If you had a mortgage your friendly tax payer owned bank, your payment insurance provider and your life assurance provider would also be sucking out your young lifeblood too <snip> Come now lets not be silly there is an obvious difference between competative service provision and buying up an artificially limited resource in order to profiteer by renting it back to people priced out of ownership. Quote Link to comment Share on other sites More sharing options...
boo Posted July 23, 2009 Author Share Posted July 23, 2009 Boo... roughly where in Britain is this? London - most of these twenty somethings are middle class kids...so probably explains it! Quote Link to comment Share on other sites More sharing options...
bingobob777 Posted July 23, 2009 Share Posted July 23, 2009 This is what happens if you stay at home too long http://www.dailyrecord.co.uk/news/scottish...86908-21541323/ Quote Link to comment Share on other sites More sharing options...
FrozenOut Posted July 23, 2009 Share Posted July 23, 2009 My old man persuaded me the opposite to stay at home and keep saving, I have a ridiculous amount of money now - but I didn't wait THIS long to give in at this stage. I moved out at 31, not because I was asked to but because crash or no crash it became depressing living at home and living life in the public view of my mother and father. 34 now, still renting, still got a lot of money to put down, but at this age I aspire to more then just a 1 bed flat, which is the only thing I can afford outright with my money - I'm not scared of getting a mortgage but I want MORE for my commitment and ergo will sit it out until the end. If I lose my job before I've bought a house, I'm heading home again. I won't be a slave, and if I end up renting for ever then so be it. I'll sleep soundly every night and when I can't look after myself anymore the state can do it, I'll be sitting next to someone in the day lounge who had to sell their house to pay for their care. Quote Link to comment Share on other sites More sharing options...
moneyscam Posted July 23, 2009 Share Posted July 23, 2009 I dont think I'll ever buy property. Thought about it for a while but I really am not keen on the idea of paying maybe the price of the property again in interest payments to the lender. Better to use compound interest to MY advantage rather than the banks. I understand the desire to buy but its the bloody cost of it. It's a swap between retiring with an liveable income at 50 or working on to 70 in order to own a house (and never getting the chance to save for a pension so having to sell it anyway)? +1 - Someone who does definitely "get it". Quote Link to comment Share on other sites More sharing options...
Neverland Posted July 23, 2009 Share Posted July 23, 2009 Come now lets not be silly there is an obvious difference between competative service provision and buying up an artificially limited resource in order to profiteer by renting it back to people priced out of ownership. I think you'll find (judging by other threads) that rents are being "competitively market set" in a lot of areas of the UK right now, due to oversupply Enjoy the ability to rent something for 3-4% of its cost The biter is being bit (Btw, when you get a mortgage you will find out about all sorts of hidden bank charges you had never even heard of ) Quote Link to comment Share on other sites More sharing options...
moneyscam Posted July 23, 2009 Share Posted July 23, 2009 My old man persuaded me the opposite to stay at home and keep saving, I have a ridiculous amount of money now - but I didn't wait THIS long to give in at this stage.I moved out at 31, not because I was asked to but because crash or no crash it became depressing living at home and living life in the public view of my mother and father. 34 now, still renting, still got a lot of money to put down, but at this age I aspire to more then just a 1 bed flat, which is the only thing I can afford outright with my money - I'm not scared of getting a mortgage but I want MORE for my commitment and ergo will sit it out until the end. If I lose my job before I've bought a house, I'm heading home again. I won't be a slave, and if I end up renting for ever then so be it. I'll sleep soundly every night and when I can't look after myself anymore the state can do it, I'll be sitting next to someone in the day lounge who had to sell their house to pay for their care. It may sound selfish of you, but under the current system it's the rational choice to make. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 23, 2009 Share Posted July 23, 2009 I have noticed that a work a few more people are talking about buying now, even though we are faced with such negative economic news. Our company is doing ok but no pay rises were given this year, so you would think that would make people a bit more cautious about making large financial decisions.Most of those discussing buying, refer to it as an investment and dont see any problem paying the over inflated prices still being asked as "affordability is ok due to interest rates". I have pointed out to some of them that they were barely teenagers when labour came into power, they have only every seen property prices rise, and a massive credit boom, To which I just get a blank look and get told that "property is an investment"...................argggggggh! I had a grinning idiot at work (25) telling me how he'd bought at the righttime this year and was looking forward to his mortgage rate bing 1% when he comes off his 6.5% fixed rate in 2 years time. I just shook my head and told him he was an idiot. Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted July 23, 2009 Share Posted July 23, 2009 I had a grinning idiot at work (25) telling me how he'd bought at the righttime this year and was looking forward to his mortgage rate bing 1% when he comes off his 6.5% fixed rate in 2 years time. I just shook my head and told him he was an idiot. Was it a 2 bed flat in Didsbury? Just telling him you're looking forward to buying it off him for a song and then renting it back to him Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted July 23, 2009 Share Posted July 23, 2009 (edited) double post Edited July 23, 2009 by shylock Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted July 23, 2009 Share Posted July 23, 2009 I had a grinning idiot at work (25) telling me how he'd bought at the righttime this year and was looking forward to his mortgage rate bing 1% when he comes off his 6.5% fixed rate in 2 years time. I just shook my head and told him he was an idiot. You actually told him? Good on you. Its about time people started saying what they thought. Quote Link to comment Share on other sites More sharing options...
Lone_Twin Posted July 23, 2009 Share Posted July 23, 2009 I think I can annoy almost everyone in this thread I'm 28 earn £45K+ and currently living with the inlaws shoveling £2k a month into the bank. Between me and the market I will have the opportunity cram my hand up the backside of some parasite and rip their btl house down through their mouth. (if the filthy government wasnt stealing my money in order to keep me priced out) Quote Link to comment Share on other sites More sharing options...
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