Size Matters For First-Time Buyers

[Realistbear]

http://www.telegraph.co.uk/finance/personalfinance/8193717/Size-matters-for-first-time-buyers.html

Personal Finance

Size matters for first-time buyers

The number of first-time buyers dropped as research showed a significant gap between those with a large deposit and those without..../

Nigel Lewis, property analyst at FindaProperty.com, said: “The rise of the deposit gap between these two groups means that, in the not too distant future, we could get to an unhealthy situation where buying your own home could be a

luxury for the middle-classes

only, while those from poorer backgrounds might have to accept

long-term renting

as their fate.”

Nigel? Funny name for an EA what?

Well, sad that FTBs are done for but a good thing that the rich and parasitic BTLers can stand in the gap and buy the houses. At least Osborne kept CGT nice and low to help them all out.

This country sucks and it needs a mega crash to sort it out.

Edited December 10, 2010 by Realistbear

[koala_bear]

The research suggested a quarter of first-time buyers would like to buy a property but they are prevented by not having a large enough property.

Have they confused FTBs with existing owners moving?

or just the word "deposit" with "property" (journalist BTLer forgeting that for most FTBs the deposit for a property doesn't come from taking equity out of a property they already "own" in BTL empire*)?

or was it just the telegraph xmas party last night?

or has the research picked up that 25% of would be FTB are refusing to buy rabit hutches!!!

*Before you ask, I have come across people who had several BTLs before buying a place to live in themselves as they couldn't afford to do it the other way round!

[headrow]

This country sucks and it needs a mega crash to sort it out.

You think this country sucks because you decided to STR and got your timing all wrong.

If when you had sold to rent then houses plummeted immediately after enabling you to buy back in with 50% of your fund then no doubt you'd be saying how brilliant this country is.

Edited December 10, 2010 by headrow

[libspero]

You think this country sucks because you decided to STR and got your timing all wrong.

If when you had sold to rent then houses plummeted immediately after enabling you to buy back in with 50% of your fund you had invested your STR fund in dollars, then no doubt you'd be saying how brilliant this country is.

I don't think RB has done badly out of it. I think he feels bad for other people. Particularly FTBers.

Do you think this country has done a good job for the interests of the latest generation of FTBs?

[Democorruptcy]

You think this country sucks because you decided to STR and got your timing all wrong.

If when you had sold to rent then houses plummeted immediately after enabling you to buy back in with 50% of your fund then no doubt you'd be saying how brilliant this country is.

But the country would be a better place if that had happened.

Without it happening what chance have most of the young people got have ever having a decent standard of living? Their living costs are going to be so high they are just debt slaves to banks and the inequality of the haves and have nots is going to get worse.

[headrow]

Do you think this country has done a good job for the interests of the latest generation of FTBs?

No , of course i don't. They are totally locked out of the market. I'm quite happy as a home owner to have the pain spread around to help these people out but its plain to see that the people who make the decisions in this country would rather shut the FTB out than risk losing the vote of the people with huge mortgage debt.

I see my daughter and her mates at 17/18 without a care in the world and i often find myself thinking what a bum deal these kids have been dealt when they come to make the decision to think about buying their own place. I had my own place at 23 , these kids don't have a chance in hell of that. I want a crash more than ever to see these people have the chances i had.

[headrow]

Without it happening what chance have most of the young people got have ever having a decent standard of living?

Out of London they have every chance.

I'm hoping that when my daughter graduates she stays in manchester and isn't lured by london. 50k for a flat against 250k.

[RichB]

I see my daughter and her mates at 17/18 without a care in the world and i often find myself thinking what a bum deal these kids have been dealt when they come to make the decision to think about buying their own place. I had my own place at 23 , these kids don't have a chance in hell of that. I want a crash more than ever to see these people have the chances i had.

It's lucky they got a crap education, otherwise they'd all ****** off overseas with their degrees and slice of the knowledge economy...

[winkie]

It's lucky they got a crap education, otherwise they'd all ****** off overseas with their degrees and slice of the knowledge economy...

Brain drain....out of interest, would they still have to pay back their £40 grand student debt if they moved abroad to make use of their first class degrees?

[headrow]

It's lucky they got a crap education,

They got a very crap education tbh. Went to one of the worst performing secondary schools in the whole country. They are all really decent kids too and i felt for them yesterday when the vote got passed and they might have to pay 27k for an education at Uni , that will be more than their parents paid for a house 20 years ago.

[nohpc]

Out of London they have every chance.

I'm hoping that when my daughter graduates she stays in manchester and isn't lured by london. 50k for a flat against 250k.

lol what will 50k get you in manchester? I studio in a red light district?

[Fishbone Glover]

I see my daughter and her mates at 17/18 without a care in the world and i often find myself thinking what a bum deal these kids have been dealt when they come to make the decision to think about buying their own place. I had my own place at 23 , these kids don't have a chance in hell of that. I want a crash more than ever to see these people have the chances i had.

Perhaps they wouldn't want to own their own place at 23? I didn't want the millstone of a large house shaped debt around my neck at 23. With the benefit of hindsight, though, if I had I would be sitting pretty now...

[headrow]

lol what will 50k get you in manchester? I studio in a red light district?

I'll get back to you in 3 years.

[headrow]

Perhaps they wouldn't want to own their own place at 23? I didn't want the millstone of a large house shaped debt around my neck at 23.

I can remember sat in the office in the Halifax and as soon as i found out that one weeks wage covered the months mortgage i signed straight away. The interest rate was double figures too.

[General Congreve]

http://www.telegraph.co.uk/finance/personalfinance/8193717/Size-matters-for-first-time-buyers.html

Personal Finance

Size matters for first-time buyers

The number of first-time buyers dropped as research showed a significant gap between those with a large deposit and those without..../

Nigel Lewis, property analyst at FindaProperty.com, said: “The rise of the deposit gap between these two groups means that, in the not too distant future, we could get to an unhealthy situation where buying your own home could be a

luxury for the middle-classes

only, while those from poorer backgrounds might have to accept

long-term renting

as their fate.”

Nigel? Funny name for an EA what?

Well, sad that FTBs are done for but a good thing that the rich and parasitic BTLers can stand in the gap and buy the houses. At least Osborne kept CGT nice and low to help them all out.

This country sucks and it needs a mega crash to sort it out.

Fear not Bear, bond yields are being pushed up as we speak. Higher interest rates all round soon, that'll be when the fun begins.

[Milton]

http://www.telegraph...ime-buyers.html

Personal Finance

Size matters for first-time buyers

The number of first-time buyers dropped as research showed a significant gap between those with a large deposit and those without..../

Nigel Lewis, property analyst at FindaProperty.com, said: "The rise of the deposit gap between these two groups means that, in the not too distant future, we could get to an unhealthy situation where buying your own home could be a

luxury for the middle-classes

only, while those from poorer backgrounds might have to accept

long-term renting

as their fate."

Nigel? Funny name for an EA what?

Well, sad that FTBs are done for but a good thing that the rich and parasitic BTLers can stand in the gap and buy the houses. At least Osborne kept CGT nice and low to help them all out.

This country sucks and it needs a mega crash to sort it out.

MP on Newsnight last night saying he didnt believe the students would go on for long, because the rise in tuition fees simply didnt merit the violence we have seen.

Seriously getting to the point after over ten years, of paying off liar land landlords, in debt slavery, having job taken, of saying ****** it, and going after the Labour ***** repsonsible

Edited December 10, 2010 by Dan1

[winkie]

lol what will 50k get you in manchester? I studio in a red light district?

...better than a £150k place in a highly congested, red light rough district.

[turbie]

Brain drain....out of interest, would they still have to pay back their £40 grand student debt if they moved abroad to make use of their first class degrees?

Yep, student loans have to be paid back no matter where you move. They expect you to set up a payment plan to start paying down the debt. If this isn't done they do have the right to demand full repayment of the total debt. Not sure how often this is enforced though.