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Many more younger UK households face a "yawning gap" in the market for affordable housing than previously thought, states a new report.

Young households are too poor to buy the cheapest local houses, but would be too rich to qualify for housing benefit.

/uk/4328366.stm]Young can't afford homes...like durrr

Too rich to get help, too poor to buy.

:blink:

Well and truly shafted. Would it make a difference if they bothered to vote? Many here may vote but the stats say otherwise.

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Many more younger UK households face a "yawning gap" in the market for affordable housing than previously thought, states a new report.

Young households are too poor to buy the cheapest local houses, but would be too rich to qualify for housing benefit.

/uk/4328366.stm]Young can't afford homes...like durrr

Too rich to get help, too poor to buy.

:blink:

Well and truly shafted. Would it make a difference if they bothered to vote? Many here may vote but the stats say otherwise.

Apparently 'young' means under 40 years of age these days...

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http://news.bbc.co.uk/1/hi/uk/4328366.stm

I'm been saying this for a couple of years now - the bubble has, in real terms, made many young people with reasonable jobs on reasonable wages as badly off as the poorest of the poor pre-bubble. In 1999, a colleague bought a one-bed flat for £42k while working for a bookstore on less than £11k (market value today, around £125k).

In the South East, 18k is now b'all - you can't rent your own slum-flat - but with many graduates starting on far less than this, even very educated people may be on sub-20k salaries for most of their twenties - and have massive debt.

If you're right-fred's-dead celebrated postman you are well and truly shafted.

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House prices are higher then they have ever been .... massivly..

and every few months a report comes out that says that the young can't afford homes...

Really.... can't we...

in 20 years time we will see a massive population drop in the country.. our children are meant to be providing for our retirements..

But I havent got any.. have you...?

I socialise with solicitors.. (they are not that bad) and they are in the same situation..

SOLICITORS CAN@T AFFORD TO BUY EITHER..

this has not bee low paid workers..

But in seven years a solicitor cannot afford a home they could have purchased pre boom with a job in tescoes...

It won't last.. there is a finite amount of people prepared or able to buy at todays prices.

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Welcome to Blair's Third Way. :ph34r::ph34r:

Make the rich richer.

Make the poor poorer.

Spin like a tasmanian devil to convince the poor that they are better off!

Oh, and lose a fortune 'playing' with property :lol:

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Apparently 'young' means under 40 years of age these days...

:o

apom,

You raise the scariest points. I can't say I get paid peanuts, especially living in the North, I could afford somewhere but it's simply not worth buying when you compare what I am renting.

As for the population thingy, my girlfriend wnats the whole marriage and baby thing. I just can't let my future kids inherit this mess!

Edited by Golden Shower

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It's nice to see these facts, as it is clear things must change - as a young'un it makes me feel bad that I cant afford to buy.

I had an option to buy a Studio flat for 38k when I got my first job at a Bank on 15k. Now I earn 3 times that much, and can afford to buy the slightly nicer 1 bedroom flat in the same block :(

I've got pressure from the GF to buy, and we want kids, but where is the incentive when the nice 3 bed house we currently rent would cost 285k to buy?!?!

4-5 years ago they were 130-150k, which I would happily pay, but of course we have a long time to wait.......

EDITED: as am still half asleep

Edited by Salsa

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But in seven years a solicitor cannot afford a home they could have purchased pre boom with a job in tescoes...

It's social engineering Labour style... today's middle class (lawyers, doctors, accountants etc. earning between 25k and 60k in the South East) can only afford to buy properties in 'lower-class' areas where 'tesco workers' work and bought their properties in the 90s (p.s. I have nothing against supermarket workers as I used to work in Asda).

Personally, I would rather rent in a nice area than buy the cheapest property in a horrible part of London (which is all I can afford to buy at present). Hence I am soon moving to Kew to rent a 2-bed for £820 a month - the same property would be £275k to buy by the way.

It's nice to see these facts, as it is clear things must change - as a young'un it makes me feel bad that I cant afford to buy.

I had an option to buy a Studio flat for 38k when I got my first job at a Bank on 15k. Now I earn 3 times that much, and can afford to buy the slightly nicer 1 bedroom flat in the same block :(

I've got pressure from the GF to buy, and we want kids, but where is the incentive when the nice 3 bed house we currently rent would cost 285k to buy?!?!

4-5 years ago they were 130-150k, which I would happily pay, but of course we have a long time to wait.......

EDITED: as am still half asleep

Are you going to pay £285k to live next to someone who paid £130k to buy just 4 years ago? I'm certainly not. Bizarrely they are on probably on less than half the wages that you are on right now anyway. However, they probably have the same disposable income as you due to their tiny mortgage payments. I've worked hard to progress up the career ladder and earn more - I don't want to only be able to afford to live next to chavs who happened to buy 4+ years ago. It's social engineering I tell you...

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Are you going to pay £285k to live next to someone who paid £130k to buy just 4 years ago? I'm certainly not. Bizarrely they are on probably on less than half the wages that you are on right now anyway. However, they probably have the same disposable income as you due to their tiny mortgage payments. I've worked hard to progress up the career ladder and earn more - I don't want to only be able to afford to live next to chavs who happened to buy 4+ years ago. It's social engineering I tell you...

Absolutely not. I've been looking at newthouseprices.co.uk and it makes entertaining reading. 2002 - 200k 2003 - 225k 2004 250k and this year they have gone on at 275-285k, but I must say some have gone back to 250k recently.

I have decided that I am not worried about timing the bottom of the market, and if I worked out a mortgage which would be same price as rent, I can afford 200k. If they come down to that I am in. until then, £950 a month rent versus £1500 mortgage is not a hard decision to make :)

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If you can't afford to buy - don't.

Just keep saving, rent a room in a shared house or stay at home, you'll have to put your life on hold for a bit and you'll have the best entertainment imaginable when this enconomic fairytale collapses under its own weight.

I'm not fussed if i lose my job as a result, as I can swan off around the world for a year or so.

The british people need a bloody good shock and I can see it coming sooner or later.

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If you can't afford to buy - don't.

Just keep saving, rent a room in a shared house or stay at home, you'll have to put your life on hold for a bit and you'll have the best entertainment imaginable when this enconomic fairytale collapses under its own weight.

I'm not fussed if i lose my job as a result, as I can swan off around the world for a year or so.

The british people need a bloody good shock and I can see it coming sooner or later.

I wish someone had told my friends that. A good friend of mine has come out of Uni to do a job with Lloyds bank - same as I did when I was 17 and with no degree.

His girlfriend has just got her first job in an office after barworking for years. First time in the real world combined income of no more than 35k. Big deposits paid by Bank of Mom and Dad to the tune of 40k. Now paying a mortgage of 118k to live in a real sh*te hole of a place where I wouldn't dream of living. All ex-council/ crack den's nearby. I am sure there house will be nice eventually, but the area is only going to get worse.

They can't understand why I rent, but without the parental help, I could only afford the same as them - I certainly haven't grafted the last 10 years to live next to crack dealers/ chavs and other assorted criminals. My plasma would be robbed within days!

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Agreed Salsa.

There is a saying of life that either we change what we don't like, or we change our attitude. However, I refuse to accept the VI's underpinning reasons for justifying current HP’s in the face of increasing economic uncertainty, and I'm sure 95% of the users of this board do too, therefore I will not change my attitude.

I cannot change it single hand idly, but I can make sacrifices today (life on hold and savings marathon), which will pay dividends in years to come.

Best things come to those who wait

Edited by Ritters

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YOUNG PERSON A

=============

Q. Go to university, or get a job?

A. Go to university.

Q. Live in your home town or move to a city with better job prospects.

A. Move to the city, I'll miss my friends and family but want a better life for my (future) kids.

Q. Take a highly-specialised, highly paid, highly stressful job, or go for something not too taxing?

A. I want to make use of my training to earn a good salary.

Q. Rent or buy?

A. Rent of course. Can just about afford a retirement trailer, but you need to be over 50 to get one apparently.

Q. Got any kids?

A. No chance, I can barely afford to look after myself. Waiting for house prices to come down.

YOUNG PERSON B

=============

Q. Go to university, or get a job?

A. University's for nobs, I'm getting a job.

Q. Live in your home town or move to a city with better job prospects.

A. I'd like to move away for a while, but to be honest I'm not that bothered.

Q. Take a highly-specialised, highly paid, highly stressful job, or go for something not too taxing?

A. Stressful, stuff that. I work 9-5. Life's too short.

Q. Rent or buy?

A. I bought in 1999 and I've made £100K in 6 years. I'm taking the wife and kids skiing again at Christmas.

Q. Got any kids?

A. Yeah, they're great.

YOUNG PERSON C

=============

Q. Go to university, or get a job?

A. Nope.

Q. Live in your home town or move to a city with better job prospects.

A. Just landed a council flat on the same street as my dad.

Q. Take a highly-specialised, highly paid, highly stressful job, or go for something not too taxing?

A. With my bad knee? I watch a lot of Judge Judy and smoke large amounts of hashish.

Q. Rent or buy?

A. Bought the house off the council and look set to make £100K selling it to some trainee doctor. Moving back in with me dad for a while.

Q. Got any kids?

A. Loads.

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Very funny, but makes me sick.

I am trying to do things the right way, but apparently it's not the right way under NuLab.

The only thing that makes me feel slightly better about paying horrendous tax and giving it to the Young Person C or Young/ not so young Person D (The Polish non-worker immigrant), is that my sister is actually a Young Person C.

She has got a kid at the age of 18, and has a house significantly better than anything I had at that age. In fact, it's nearly as good as mine - £750 a month paid for her, plus money for the kid, plus support for her to go to college and not work......

Thing is, she thinks she has done thing the right way, as we grew up on a council estate where this seemed to be everyone's ambition.

16 years old - 1 or 2 kids, free council house, lot's of dodgy knocked off gear from the local thieves, 20 Mayfair a day and free money :(

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In the South East, 18k is now b'all - you can't rent your own slum-flat - but with many graduates starting on far less than this, even very educated people may be on sub-20k salaries for most of their twenties - and have massive debt.

Lets be real for a second, if any graduate is working in London for less than £18k they need to seriously reassess their lives. Take a look around, many jobs are more than this.

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Lets be real for a second, if any graduate is working in London for less than £18k they need to seriously reassess their lives. Take a look around, many jobs are more than this.

Nope Weezer, my friends are grad generation from SE and getting anything from 15-22k, none are on more. OK I don't know every grad, but a high percentage will end up on salaries like this for the first few years.

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I applied for graduate jobs in london for a large american systems development house in 2000/1 seemed like a very fun place to work, i would have been working in the square mile opposite the BOE as developer/business analyst for 17k....

The company announced big job cuts on the day we all went down for the open day.

http://www.sapient.com/

http://mwprices.ft.com/custom/ft-com/quote...ent+Corporation

Edited by moosetea

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Absolutely not. I've been looking at newthouseprices.co.uk and it makes entertaining reading. 2002 - 200k 2003 - 225k 2004 250k and this year they have gone on at 275-285k, but I must say some have gone back to 250k recently.

I have decided that I am not worried about timing the bottom of the market, and if I worked out a mortgage which would be same price as rent, I can afford 200k. If they come down to that I am in. until then, £950 a month rent versus £1500 mortgage is not a hard decision to make :)

Jings, it's got that bad that the newts are concerned about living costs! :blink:

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A lot of the problems in the SouthEast stem from the fact that most companies have their officies on London.

Hence the endless misery of over priced houses and over population = shit hole.

Only when this changes and people realise the SE is very poor value for money will sensible prices and quality of life return; I have lost count of the sickly looking wage slaves passing through Clapham Junction. I pity them.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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