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apom

Non Homeowners.

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We on here have sometimes thought that many are sat waiting with deposits ready to buy property..

That many are saving deposits to buy..

But how many of the potential FTB's are also crippled by debt.

The cost of living in this country has risen so sharply over the last few years, and the debt culture has been persuasive and convincing..

Look around you at those you know who don't have mortgages.... Do these people also have large debts??

Please give examples or your own perceptions to this.

Essentially, non homeowners, they have avoided the massive mortgage debt. But have they avoided massive unsecured debt?

What do you see out there?

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Look around you at those you know who don't have mortgages.... Do these people also have large debts??

Please give examples or your own perceptions to this.

Essentially, non homeowners, they have avoided the massive mortgage debt. But have they avoided massive unsecured debt?

What do you see out there?

Well, I know very few people who don't own property, so it's hard to say. What I would say - which answers your question from the opposite perspective - is that almost everyone I know who's bought in the last few years is now feeling very poor.

Where I live, the cost of renting is so much cheaper than buying, that on average anyone who is renting is a lot better off than a mortgage slave. As for me, just two days wages (and that's after tax) pays my rent for the month; the rest of what I earn in the month is mine. When I mention that to the mortgage slaves, they are very envious. :)

Nomadd

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It's a funny thing. Have many OOs actually got that far ahead of FTBs? I know many people who have been merrilly tapping into their equity over the last few years. One friend is now spending his MEW on staying afloat after being made redundant, another has just taken out a 100% mortgage (loaded in debt).

Hairy stuff, but yet again many of my friends could probably easily afford their lifestyles...if only they would stop spending huge amounts of money on nights out.

:rolleyes:

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As for me, just two days wages (and that's after tax) pays my rent for the month; the rest of what I earn in the month is mine.

For me it takes 2.75 days to pay my rent, but I do live in a very nice area. :)

But when you talk to older people about this, they just think you're being irresposible - "You should get a mortgage and take life more seriously!" My saving account looks very serious, thank you very much. Yes I'd love my own place, but I think the experience is overpriced right now. Trouble is the government who hate you saving and tax your savings and pensions at every opportunity. They fiddle the inflation figures so that your saving lose you money in real terms. And you're actively encouraged to go into debt...

I'm never going to win :angry:

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no accountant - your right there - the government are arses!

Anyway, of my close friends, 2 are married with nice houses (bought before the boom). 1 is co-habiting

with girlfriend - quite a big mortgage, but both made good on previous purchases. Then there are my

other less fortunate friends. 3 of who are in late 20s to late 30s. 2 are in huge debt (but can't stop spending) and the other is 37 and has about 1K saved up - not looking good for 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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