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Young 'cannot Afford' First Homes

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

i believe this report is biased in many ways, first it assumes that young people only in certain areas are 5 times salary multiples for the average house, I would say in every single area this is the case and in fact i think they mean the salary of a young couple not a single but dont say this.

second they say only 1/5 of young people are affected by this an-affordability problem, thats complete nonsence if this was the case then how come first time buyers in another report are locked out of 95% of uk towns.

Edited by homeless

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Are these the same young people who can find £90 for a shirt for a night out, and another £100 for taxi's, drink and take out at the end of it?

He's the deal; if they REALLY want it, they will find a way to get on the ladder.

When I was 19 I worked in a garage during the day, drove taxi's at night and worked a door on a Friday and Saturday. All this in the middle of that lovely early 90's recession. I wasn't out drinking cocktails at £6 a time, staring at my Ted Baker £90 shoes as I lounged on a bar stool.

There are a lot more ways for the young to earn money now if they want it, and no-body makes them sign up to conspicuous consumerism. That's there choice.

Just my thoughts.

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Are these the same young people who can find £90 for a shirt for a night out, and another £100 for taxi's, drink and take out at the end of it?

He's the deal; if they REALLY want it, they will find a way to get on the ladder.

When I was 19 I worked in a garage during the day, drove taxi's at night and worked a door on a Friday and Saturday. All this in the middle of that lovely early 90's recession. I wasn't out drinking cocktails at £6 a time, staring at my Ted Baker £90 shoes as I lounged on a bar stool.

There are a lot more ways for the young to earn money now if they want it, and no-body makes them sign up to conspicuous consumerism. That's there choice.

Just my thoughts.

Isn't that what you do with the money you mewed from buying your house?

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Are these the same young people who can find £90 for a shirt for a night out, and another £100 for taxi's, drink and take out at the end of it?

He's the deal; if they REALLY want it, they will find a way to get on the ladder.

When I was 19 I worked in a garage during the day, drove taxi's at night and worked a door on a Friday and Saturday. All this in the middle of that lovely early 90's recession. I wasn't out drinking cocktails at £6 a time, staring at my Ted Baker £90 shoes as I lounged on a bar stool.

There are a lot more ways for the young to earn money now if they want it, and no-body makes them sign up to conspicuous consumerism. That's there choice.

Just my thoughts.

But can they find £1000pcm for the mortgage repayment, each month, for the next 300 months?

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What this comes down to, IMO, is whether owning a house is a luxury or a right...

As a "young" person - frankly my one job is enough to tire me out. I work long and frequently irregular hours and I don't fancy doing 2 or 3 jobs just to be able to buy a house. Thanks, but no thanks.

I'd like to buy a house one day - but I refuse to let it rule my life.

UM

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Are these the same young people who can find £90 for a shirt for a night out, and another £100 for taxi's, drink and take out at the end of it?

What a load of stereotyping horsesh1t. I've never paid more than £30 for a shirt in my entire life, and as for £100 for taxis, where the hell do you live, John O'Groats?:rolleyes:

This ridiculous prejudice in the general (middle-aged and elderly) population that EVERY young person is out EVERY night clubbing until 4 in the morning, and that we blow our (meagre) salaries on IPOD's (hence my username; and no, I don't have one of those either), Sean John jeans and bling is incredibly galling, considering the near-destitute reality of housing poverty in which most FTB-age Britons exist; no doubt our taxes are paying the pensions of those who so contemptuously deride and stereotype us.

Sure, there are SOME young people who live that lifestyle; but they are a very small minority, where Daddy is a millionaire or they are on a hell-for-leather credit binge, funded by the various debt merchants who advertise on daytime television and some of this country's largest banks.

When I was 19 I worked in a garage during the day, drove taxi's at night and worked a door on a Friday and Saturday. All this in the middle of that lovely early 90's recession. I wasn't out drinking cocktails at £6 a time, staring at my Ted Baker £90 shoes as I lounged on a bar stool.

You might find this sketch rings a bell:

http://ayup.co.uk/laugh/laugh0.html

Edited by IPOD

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Are these the same young people who can find £90 for a shirt for a night out, and another £100 for taxi's, drink and take out at the end of it?

He's the deal; if they REALLY want it, they will find a way to get on the ladder.

When I was 19 I worked in a garage during the day, drove taxi's at night and worked a door on a Friday and Saturday. All this in the middle of that lovely early 90's recession. I wasn't out drinking cocktails at £6 a time, staring at my Ted Baker £90 shoes as I lounged on a bar stool.

There are a lot more ways for the young to earn money now if they want it, and no-body makes them sign up to conspicuous consumerism. That's there choice.

Just my thoughts

yeah yeah. you probably earned about 9k a year and bought a house for 45k

aks yourself - could you afford it now even on your adult wages. ?

could you take a 14k wage and using your special MAGIC powers make that pay for a £185k house ?

without lying.....

heard it before. crank 300% house price inflation on YOUR house and 5% wages rises each year and blame the young for not getting on this so called 'ladder' of yours.

laughable.

perhaps you just think the young are stupid. and they are not. they wont buy. they enjoy themselves instead. you keep your ladder. i think thats what they are saying.

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When I was 19 I worked in a garage during the day, drove taxi's at night and worked a door on a Friday and Saturday. All this in the middle of that lovely early 90's recession. I wasn't out drinking cocktails at £6 a time, staring at my Ted Baker £90 shoes as I lounged on a bar stool.

There are a lot more ways for the young to earn money now if they want it, and no-body makes them sign up to conspicuous consumerism. That's there choice.

Just my thoughts.

I'm 25, i tend to spend about 15 quid on a night out :D:D . and town's at the end of my road, so just a 3min walk, no need for a taxi!.

I was going to buy at 23, had a mortgage arranged,etc had a 2nd weekend job too at the time. But you see, it was all potty in the housing market at the time & thought somethings not right, & figured out what was going to happen eventually :ph34r:

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Are these the same young people who can find £90 for a shirt for a night out, and another £100 for taxi's, drink and take out at the end of it?

He's the deal; if they REALLY want it, they will find a way to get on the ladder.

When I was 19 I worked in a garage during the day, drove taxi's at night and worked a door on a Friday and Saturday. All this in the middle of that lovely early 90's recession. I wasn't out drinking cocktails at £6 a time, staring at my Ted Baker £90 shoes as I lounged on a bar stool.

There are a lot more ways for the young to earn money now if they want it, and no-body makes them sign up to conspicuous consumerism. That's there choice.

Just my thoughts.

Most of the consumption I see is two things..

Young with good salaries and cheep living..

I have a large deposit.. I have a good salary.. I am at an age where I could afford a family.

I don't have one..

so I have fun... :)

8 years ago I was earning £11,000 a year.. and could have afforded a bigger property then I could now on over 2.5 times that salary

We are not buying.. because the current prices are too high, would leave me with too big a mortgage..

and the economy cannot support debt levels required to sustain todays prices..

Why do we think prices will come down..?

many reasons...

But the best one is..

The housing market allways does this.... always has.... always will.. it goes up and down..

and currently the houses in my area are dropping faster then I would be paying of the debt..

We don't buy... because we are financially astute, not because we are lazy..

and if some of us are financially astute with better shoes then you..

Well..

Tough..

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Lol, nothing like a bit of debate, is there.

"We don't buy... because we are financially astute, not because we are lazy.."

Financially astute to have missed the boat perhaps? The house price crash will happen in some areas...not in others. A correction will be the mainstream, and thats looking as if it has already happened. Even the rank and file are wiseing up - did you see that report last month about how Joe Public is now starting to pay off his credit cards etc? I did. Must piss a lot of the broken record doomsayers off though.

"and if some of us are financially astute with better shoes then you..

Well.."

Oh, trust me, you'd be surprised just how good my shoes are

:rolleyes:

As for where I get my information; I have a chap who does work for my me occasionally, and who is a doorman at weekends, so I'm still aware of whats happening in the entertainment side of things. Packed clubs etc....the money is still getting spent. My nephew manages a high street fashion store - the £90 shirts fly off the shelves. As for the £100 for the night out, well; admission, drink beforehand, drink inside the club, the taxi home and the take away at the end. Its an accurate total. I still go out every weekend, so thats my basis for calculation.

"yeah yeah. you probably earned about 9k a year and bought a house for 45k

aks yourself - could you afford it now even on your adult wages. ? (Oh yes..very much so is the answer to that)

could you take a 14k wage and using your special MAGIC powers make that pay for a £185k house ?

without lying....." (Resorting to sarcasm already? what MAGIC powers did I imply I possesed? Thats poor, I had hoped for better.)

The 9k part of that...thats 4.5 times multiple with no deposit. Anyone who thinks you could secure that kind of morgage as a young person back in the day before relaxed lending, is showing me they know less than they are pretending. Having a wife who owns a financial services company, I feel qualified to make that statement. As for the 14k, if thats what I'm meant to be earning now? Eh, no.

If you mean thats an average graduate wage, then yeah, your probably right. Damn glad I never went to a civilian Uni now, and did a trade instead (Believe me, I had the option. When I joined the Armed Forces post trade, I did my degree with them - and got paid to do so). But then, thats another part of the problem. Too many kids doing crap degrees and leathering the ass off the debt cards when they are there, and waking up to the headache when they graduate. Then having a pop at other people for there predicament.

At the moment I am trying to recruit an engineering graduate, who wants to go into industrial sales. I am offering 26k to 29k, company credit card and car, pension, healthcare etc. I have a small pool to choose from find that person. If I wanted a marketing graduate however, then I could have my pick of thousands..that says it all to me about "waste of potential" at the moment. A lot of those people would have been better off for themselves by earning a trade IMHO. sadly, too many of them liked the idea of the student life while studying useless in the real world degrees though.

Anyways, as I have said, just my thoughts. Feel free to rip me to shreds. I expect no less.

:D:P

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Not enough kids taking up a trade at 16 or 17.

They go to UNI run up a nice debt while there, then come out at 21-22 and get a crap paying job (as they have no experience) and get the pleasure of paying off their new found debt.

The ones who get a trade, get paid to learn, and by 21-22 they are earning a decent wage that would probably support a family - and no debt.

Hmm...

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and currently the houses in my area are dropping faster then I would be paying of the debt..

Have you any evidence of this.

I live in Devon too.

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Cheers Pluto; thats my point entirely.

But then, learning a trade means you cant get hammered 4 nights a week, spend all day in the union or some trendy cafe, or crucially, get to tell said working people they were at school with "oh, I'm at Uni"

:lol::lol:

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billy-g Today, 10:36 AM Post #2

billy g in another thread

HPC Newbie

Group: Members

Posts: 7

Joined: Yesterday, 06:03 PM

Member No.: 3,237

I agree with you 100%; those have to be bullsh!t figures. Sadly, there are some on here who actually WISH for a recession, and to see honest working people out of work.

I think that's why I laugh when I hear the politicians tell me that we need further immigration into this country. Really? Not enough competition for jobs at them moment then? Or houses - they seem to get priority for Local Authority housing stock, hence pushing other folks into buying overpriced property that they cant afford.

Someones talking mince somewhere I think in politician land

this guy should get it right, either he's a pull up your socks you lazy sons of bit^^^^ or hes a guy that can see why its so hard.

get a grip fellow

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At the moment I am trying to recruit an engineering graduate, who wants to go into industrial sales. I am offering 26k to 29k, company credit card and car, pension, healthcare etc

if you are in london and thats the wage you offer. where can your employee live ?

at that wage they can afford a sqaulid ex council flat if lucky. if unlucky they will have to share with 4 others.

fine if your a student - but not fine if your supposed to hold a professional job.

just a few quick questions..

1. what was your wage at 25 ?

2. how much was your house at 25 ?

(if not 25, give me the house asking price and your current wage at the time.

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In some places, hoses are overpriced by a great deal. In some, they are overpriced by a small amount. Thats the difference.

I feels sorry for anyone who works in a factory, family to support etc who wants to buy a house in an overpriced area. I have none for the whinging 24 year old who is out on the lash all the time, thinks because he's been to Uni he can command a salary which will allow him to by a silly priced house and isnt interested in doing more to help his situation, IE second job or moving to a more reasonably priced area.

" either he's a pull up your socks you lazy sons of bit^^^^ or hes a guy that can see why its so hard.

"

Turst me, you can be both, situation dependant.

Growing up in a council scheme called "little Beirut", and leaving school with no jobs around, means I feel I have seen it from both sides of the coin.

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With all due respect to Billy-G, I really do think he has mis-read the readership/membership of this site.

The vast majority of the members of this site are well qualified, hard working, well paid professionals, not "kids on crap degrees leathering debit (credit?) cards". Interestingly whilst he refers to "thousands of marketing graduates" approximately half of the membership has degrees in sciences and related subjects (according to the pinned topic on the main board).

IMHO the £90 shirts etc don't fly off the shelves to the typical readers of this site but to predominately non-graduates who also generally tend to populate most clubs etc.

I would like to thank billy-g for his contribution, these sites thrive on open debate and not the petty abuse that sometimes takes over.

Finally, a question; if billy-g were in the 25-35 age bracket today, would he expect to be able to afford the house he lives in today at any point in his future? My guess is not but I would like to know.

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1. what was your wage at 25 ?

2. how much was your house at 25 ?

1. 26k - was armed forces, so fairly okayish wage.

2. 45k - needed lots of work doing, so I did.

I'm 31 BTW if that helps.

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if you are in london and thats the wage you offer. where can your employee live ?

at that wage they can afford a sqaulid ex council flat if lucky. if unlucky they will have to share with 4 others.

fine if your a student - but not fine if your supposed to hold a professional job.

just a few quick questions..

1. what was your wage at 25 ?

2. how much was your house at 25 ?

(if not 25, give me the house asking price and your current wage at the time.

Anyone who says to me that I had it easy in my day, I agree with them!

First job out of Uni (debt 3k) paid £11.5k in 93, bought a 1 bed flat the next month for 37K in outer London.

Identical flat next door sold last year for £157k. Now I very much doubt that someone coming out of uni is earning £48K (The same multipler), even £24k would be pushing it!

What kind of genius feels that we had it tougher?

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I feels sorry for anyone who works in a factory, family to support etc who wants to buy a house in an overpriced area. I have none for the whinging 24 year old who is out on the lash all the time,

well the bad news is that most 24yrs olds DO have unqualified jobs in factories, shops and offices. i see an average 25yr olds wage to be 14k-18k.

the houses in this area start for 100k for a run down crap hole to 185k for average 3 bed semi type./

to me thats impossible on 18k. the mortgage would be around 550-900pcm. poll tax 90pcm out of a take home pay of £1100. that leaves £450 a month left for everything else. no pension. no holiday.

what i think the young are doing is saying a swift NO THANKS to the old uk house obsession.

instead they live it up as there is nothing better to do. who would want to sit in some damp, 2 bed terrace or pox flat. very skint and pressured twiddling the old thumbs and/or masturbating over a copy of razzle.

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"With all due respect to Billy-G, I really do think he has mis-read the readership/membership of this site.

"

Young Goat, if by both that and further comments, you mean that I should cease posting because my views are not of the mainstream, please say so in a more forthright manner. If an opposing viewpoint is not sought from the members of this board, I shall happily dissapear back into the ether.

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"what i think the young are doing is saying a swift NO THANKS to the old uk house obsession."

The TV, with its cheap to produce house pumping DIY shows, have been fueling the fire together with all the cheap money floating around. Parents have also been a problem pushing their kids into becoming "house poor" a term used in the US to describe high mortgage owners who cannot afford to buy anything because of high mortgage payments.

Kids are smarter than we think.

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Are these the same young people who can find £90 for a shirt for a night out, and another £100 for taxi's, drink and take out at the end of it?

He's the deal; if they REALLY want it, they will find a way to get on the ladder.

When I was 19 I worked in a garage during the day, drove taxi's at night and worked a door on a Friday and Saturday. All this in the middle of that lovely early 90's recession. I wasn't out drinking cocktails at £6 a time, staring at my Ted Baker £90 shoes as I lounged on a bar stool.

There are a lot more ways for the young to earn money now if they want it, and no-body makes them sign up to conspicuous consumerism. That's there choice.

Just my thoughts.

From a later post of yours I imagine you got a negative reaction.

I would say paying say £180k for a flat is the equivalent of paying £90 for a shirt. But with one caveat. If you don't want, or can't afford, to pay £90 for a shirt you can pay £10 instead.

In both cases you are paying way over what the 'shirt' is worth.

However, please keep posting. This forum is getting very boring - I even have to resort to a few immigration wind-ups to get people going.

Edited by Marina

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"With all due respect to Billy-G, I really do think he has mis-read the readership/membership of this site.

"

Young Goat, if by both that and further comments, you mean that I should cease posting because my views are not of the mainstream, please say so in a more forthright manner. If an opposing viewpoint is not sought from the members of this board, I shall happily dissapear back into the ether.

To clarify, I am absolutely not suggesting that you should cease posting (I had thought this was clear from the later paragraphs)

I do however think that I have a fair point in that the members of this site are not (I think) representative of your view of the under 30 population of the UK, whether or not your view as a whole is fair.

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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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