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Home And Dry: Young People On Alternatives To Buying A Place

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From the comments: "Renting is not some care-free alternative to the millstone of home ownership. It is the only option for most tenants and en masse will lead to areas becoming faceless, careless places as people constantly move in and out. The government need to work to put the cards more fairly in the hand of tenants."

Hear, hear. :)

http://www.theguardian.com/money/2014/mar/17/housing-alternatives-to-buying-house-young-people?commentpage=2

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He and his friends live in an old, converted house in Tottenham, which was refurbished just before they moved in.

He recognises rental prices will probably rise in Tottenham soon too, that people are being pushed out of cities such as London, and he would like to see more rent controls. Being able to rent has given him a freedom he appreciates.

Really? Lots of rooms on Gumtree for Tottenham, to house share as he's currently doing. Market at work. The City got no pressure at all on incomes / jobs / general inflation meaning people have less to afford rents/buying? Why would rents be set to rise much more?

Although buying a flat gave me enough financial security to leave a job I hated and start a journalism masters', I still regret entering the housing market so young. Newspapers in London have stopped hiring and I'm terrified that I'm going to end up unemployed and saddled with a mortgage when I graduate. Friends have accepted job offers in Hong Kong; a few more moved to Singapore, or Berlin. In London, the job market is saturated with graduates. On job sites, adverts for jobs based abroad dominate in my field. At university we're encouraged to look further and further from the UK, to the Middle East and to China. But I'm tied to London now, I can't leave.

I can't bear to even think what will happen if I can't get a job on graduation – will my home be repossessed?

I don't get it.

Edited by Venger

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I don't get it.

Yeah, I didn't get that either. How is she paying the mortgage while she is studying? And if she has income to pay it now, what difference does it make if she doesn't find a job in her field after studying?

If she wants to leave, can't she sell or rent the flat? Is it shared ownership?

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From the comments: "Renting is not some care-free alternative to the millstone of home ownership. It is the only option for most tenants and en masse will lead to areas becoming faceless, careless places as people constantly move in and out. The government need to work to put the cards more fairly in the hand of tenants."

Hear, hear. :)

http://www.theguardian.com/money/2014/mar/17/housing-alternatives-to-buying-house-young-people?commentpage=2

An easy amendment to legislation to help, would be to change minimum term of an AST to 1 year, oh and outlaw letting agent fees.

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Probably bought a two bed from the BOMAD and pays the mortgage with the rental income thanks to low rates.

I don't get how buying a flat can give you the financial stability to quit a job in any other way.

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Probably bought a two bed from the BOMAD and pays the mortgage with the rental income thanks to low rates.

I don't get how buying a flat can give you the financial stability to quit a job in any other way.

She says:

"Because of the conditions of my mortgage, I can't even rent the flat out. Something that should be a pleasure, feels like a noose around my neck."

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She says:

"Because of the conditions of my mortgage, I can't even rent the flat out. Something that should be a pleasure, feels like a noose around my neck."

Doesn't stop most people. "Oh, I didn't realise that I needed to change to a BTL mortgage" etc, etc...

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Doesn't stop most people. "Oh, I didn't realise that I needed to change to a BTL mortgage" etc, etc...

Yip, lenders generally don't care so long as the skimming carries on.

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Why have they all got hipster jobs?

"Jaber Mohamed, 24, is a reporter for the Haringey Independent"

"Paula Haydock, 28, works freelance in TV production"

"Rachael Jones, 27, works for a PR agency"

"Jonny Douglas, 33, runs his own design consultancy, "

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Why have they all got hipster jobs?

"Jaber Mohamed, 24, is a reporter for the Haringey Independent"

"Paula Haydock, 28, works freelance in TV production"

"Rachael Jones, 27, works for a PR agency"

"Jonny Douglas, 33, runs his own design consultancy, "

It's the Guardian. The person who wrote it probably doesn't know anyone who doesn't have a hipster job. If they wrote about anybody who just did a normal job like cleaning, bus driving etc it would have to involve unpronounceable Polish names and be a sob story about living in a shed.

Edited by Austin Allegro

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