Jump to content
House Price Crash Forum

My Future


ExeC

Recommended Posts

0
HOLA441

This is what TB and GB don't get. If ordinary BRITS have enough to live on and can actually afford to have a nice secure place to live then maybe we will have MORE kids being born and we won't have this demographic timebomb they keep using to justify their shambolic approach to immigration. I'm sure everyone would love to have 2 or 3 kids, 2 keeps the status quo and 3 increases the population. Not realms of fantasy stuff is it?

We won't NEED any migrants at all.

Lots of ready-made 50-year taxpayers to keep all the oldies ticking over. None sending money out of the country either.

Has this demographics timebomb only come-about since Thatcher started going mental with the market economy malarky? Anyone got any stats?

Perhaps the theory is that the new wave of immigrants will be on a temporary economic basis - as the many eastern europeans in the UK now are expected to be.

They do the work cheaply, they don't require good accommodation, they pay tax, but crucially they DO NOT CONSUME tax revenues. They are young, fit and healthy, mostly with out families (therefore little healthcare or education costs to the govt.).

Is this the magic formula that will save the baby boomers?

Link to comment
Share on other sites

  • Replies 166
  • Created
  • Last Reply

Top Posters In This Topic

1
HOLA442

Smell the Fear

<i>Is this the magic formula that will save the baby boomers?</i>

Nope.

If the young (who are big consumers themselves but more importantly are the biggest borrowers) get busted by low wages the whole consumption edifice falls with them, baby boomers and all.

Link to comment
Share on other sites

2
HOLA443
3
HOLA444

It feels now like i have FAR less money to spend than lets say i did in 1998. I feel that the money i have no gets me far less than it would 7 years ago.

All of this i assume is because of the raises in prices for everything we use. (lets exclude chinese crap for the moment).

Isnt it now going to be far harder for the government to catch all this mess up as a simple 3% -> 8% rise on anything these days is going to be massive, as the previous rises over the past 6-7 years have been so high.

Im finding it very hard to explain what i mean.

My girlfriend and i earn average wages and have 1 child (we are 23+25 years old).

After all our costs (and food) each month we pay out 2.1k a month and we only bring in 2.2k between us.

We have a couple of luxurys, Internet, Telephone, Sky+, sofa and an engagement ring im paying off. other than that its basically cost for living.

What scares me is if prices continue to rise by the non covered up rates like 14% on council tax etc, how are people like us expected to live ?

We want to have a 2nd child, if people like us cant afford to do these kind of things in life what on earth is it going to be like in the future.

We rent, cant afford to save, we cant afford to have a child, we cant afford to get married (i can barely afford the engagement ring), we cant afford to buy a house, we cant afford to save a pension for our old age, it costs my girfriend £2000 a year to go on a train to work, it costs me more in my car. Im trying my hardest to pay for lessons so my girlfriend can have independance and learn to drive also.

I've avoided using too much credit or credit cards.

I just cant see how the general couple like me and my girlfiend will solvantly be able to survive in the future.

Are we expected to cut the little things in our lives to afford to actully live ?

Disconnect my sky TV and pay for a weekly shop ?

Disconnect my telephone so i pay for 1 weeks fuel ?

No internet, my generation dont deserve to be able to afford it?

I must rent, because home ownership is a privlage for the hippy generation not a right for the 80's child ?

We should start looking for a loan to have a child ?

Marrage is just a piece of paper anyway...

I sit here looking at my finances, and i try my hardest to figure out what to do, apart from getting a 2nd job at weekends, theres nothing.

Sorry about the rant.

Typical yungin these days. When I married at 25, my wife & I lived in a shared flat where the lounge was a rented room (so we had no lounge), we just had our own room. We had no phone, no car, a tiny TV, no mobile phone, the internet wasn't widely available in 1995 anyway and we made many sacrifices.

Why did we make sacrifices? Because we understood that the way we live today, impacts the way we'll live in the future. We were saving as hard as we could, putting away a few hundred pounds a month. We bought our first place within a year of marriage at 4.5 times our salaries.

So your future is up to you sunshine, squander it now, or live it later.

Link to comment
Share on other sites

4
HOLA445

In 1974 when I first bought, average house prices were £10K, average wages with lots of O/T were £2.2K and interest rates were between 11 and 13%.

In those days the average FTB did not expect to buy the average house at 25 y.o.

That pretty much fits my recollection (1st house in 1975 was a grotty little terrace for 10.5k)

I also couldn't have afforded it without my wife's salary, or a deposit saved over about 4 years

Link to comment
Share on other sites

5
HOLA446

Typical yungin these days. When I married at 25, my wife & I lived in a shared flat where the lounge was a rented room (so we had no lounge), we just had our own room. We had no phone, no car, a tiny TV, no mobile phone, the internet wasn't widely available in 1995 anyway and we made many sacrifices.

Why did we make sacrifices? Because we understood that the way we live today, impacts the way we'll live in the future. We were saving as hard as we could, putting away a few hundred pounds a month. We bought our first place within a year of marriage at 4.5 times our salaries.

Would you care to tell us the date so we can appreciate the full extent of your "struggle" and selfless sacrifice?

Talking of sacrifice, what would you recommend, maybe going without meals or heating every other day, having a bath only once a month, sending the little one out to clean chimneys and the wife down the mines?

Link to comment
Share on other sites

6
HOLA447
Would you care to tell us the date so we can appreciate the full extent of your "struggle" and selfless sacrifice?

Presumably you missed the reference to 1995? So he 'struggled' really hard to buy a place at the bottom of the market for probably a third of today's asking price, with a 4.5x salary multiplier.

That must have been so tough! I really feel for his sacrifice.

What percentage of the population of the world can afford to own their home, car(s), have children, save spare cash? Why are people so astonished when they don't automatically fall into this category?

Because our parents managed to do all those things on a single salary working in jobs that, relative to the average income at the time, paid far less?

Why the hell should one generation have to settle for a living standard far lower than that of their parents in a supposedly first world nation? What the hell was the point of going to university and working to get a job on twice the national average salary or more when we can't even buy a house and raise a family?

My father bought a four-bed house on a factory worker's salary, and my mother stayed home and raised lots of kids: that was pretty much an average house for the town at that time. That same house in the same town would today cost around _twelve years_ worth of the average pre-tax salary of a worker in that town. Do you see the problem here?

Edited by MarkG
Link to comment
Share on other sites

7
HOLA448
8
HOLA449
Guest Charlie The Tramp

:lol:

They were very bad times, very bad times back then, things were hard, very hard.

And so they were. :D

Back in 1995 you could buy a six bedroom detached house with a quarter acre trout lake and a further quarter acre of grazing complete with paddock and out buildings with a hundred yards of driveway in Norfolk for 299k. How do I know an ex customer of mine bought it. ;)

Link to comment
Share on other sites

9
HOLA4410

My father bought a four-bed house on a factory worker's salary, and my mother stayed home and raised lots of kids: that was pretty much an average house for the town at that time. That same house in the same town would today cost around _twelve years_ worth of the average pre-tax salary of a worker in that town. Do you see the problem here?

House price inflation is severely disincentivising.

Why bust your guts and take on a huge salary multiple mortgage just to live next door to someone who gets up later than you and who is always back by the time you get home. (He bought 5 years earlier and the joke's on you)

If you take houses out of the equation, life in Britain makes a lot more sense. It takes away the hideous lottery of timing and starts to reward people who would work hard.

Link to comment
Share on other sites

10
HOLA4411

My father bought a four-bed house on a factory worker's salary, and my mother stayed home and raised lots of kids: that was pretty much an average house for the town at that time. That same house in the same town would today cost around _twelve years_ worth of the average pre-tax salary of a worker in that town. Do you see the problem here?

I wonder why we used to bother with council houses and grotty rental properties? Why were people homeless, and why did housing associations start? Why did Shelter need to be started in the 60's? Why were housing conditions so dreadful for so many people? Why did Rachmanism occur in the 60's?? Why did they ever bother making the TV documentary, Cathy Come Home (google it and see what life was really like)

WHY, OH WHY, when all these sodding factory workers could afford 4 bed detached places out of their loose change.

I'm sick of all these rose-coloured views of the past.

I saved like hell to buy my first grotty home in 1975, on 2 salaries. I never had a penny left over each month. And I earned more than average

Link to comment
Share on other sites

11
HOLA4412

I saved like hell to buy my first grotty home in 1975, on 2 salaries. I never had a penny left over each month. And I earned more than average

Yes but since 1975 we've had over thirty years of succesive politicians telling us how much better off we are. They were lying.

At best we've stayed still.

You had wage inflation CO. You serially fail to admit this in your posts. There is little or no prospect of this for today's ftbs.

Link to comment
Share on other sites

12
HOLA4413

Buck up - you could be living in Iraq or Somalia or Afghanistan or Albania or any of the hundreds of countries where life is really tough.

...or you could be living in this country, aged 45 plus, with a tiny mortgage nearly paid off, a huge house, a big fat final salary pension, and oodles of savings.

Stop telling them to "buck up". That is just insulting.

Link to comment
Share on other sites

13
HOLA4414
I'm sick of all these rose-coloured views of the past.

What's rose-coloured about reality?

You had wage inflation CO. You serially fail to admit this in your posts. There is little or no prospect of this for today's ftbs.

Exactly. I save more pounds most months than my parents paid for their house... heck, my camcorder cost three times as many pounds as the price of their house.

It's not hard to pay off a mortgage when by the time the 25 years are up, the entire cost of the mortgage is a month or two's pay. What are the odds that the average worker in the UK will be earning 100,000 a month in 2030?

Edited by MarkG
Link to comment
Share on other sites

14
HOLA4415

I wonder why we used to bother with council houses and grotty rental properties? Why were people homeless, and why did housing associations start? Why did Shelter need to be started in the 60's? Why were housing conditions so dreadful for so many people? Why did Rachmanism occur in the 60's?? Why did they ever bother making the TV documentary, Cathy Come Home (google it and see what life was really like)

WHY, OH WHY, when all these sodding factory workers could afford 4 bed detached places out of their loose change.

Obviously because people back then were exactly the same as peoples' attitudes to FTB'ers today, they were clearly a bunch of lazy bastards who were not trying hard enough and were wasting money on silly things like food and keeping warm, if only they tried a little harder, they expected too much... they should have first aspired to a flimsy tent on a bomb site to start with, they could have then progressed to a permanent structure like a dog kennel once they built up equity.

Also, ask yourself why NIMBY's rule the roost now their own housing needs have been provided for.

Link to comment
Share on other sites

15
HOLA4416

Yes but since 1975 we've had over thirty years of succesive politicians telling us how much better off we are. They were lying.

At best we've stayed still.

You had wage inflation CO. You serially fail to admit this in your posts. There is little or no prospect of this for today's ftbs.

I know - I've often acknowledged that fact. But we didn't know that we'd have future inflation, and it was still hard in the early years. It was not the case that low paid people bought houses, or that average paid people went straight into big houses. Most of the adults I knew when I was young lived in council houses. . None of my 5 siblings was able to buy until many years after marrying.

Edited by Casual Observer
Link to comment
Share on other sites

16
HOLA4417
17
HOLA4418

What's rose-coloured about reality?

Exactly. I save more pounds most months than my parents paid for their house... heck, my camcorder cost three times as many pounds as the price of their house.

It's not hard to pay off a mortgage when by the time the 25 years are up, the entire cost of the mortgage is a month or two's pay. What are the odds that the average worker in the UK will be earning 100,000 a month in 2030?

So answer my point. Why did so few people buy, if it were so easy.

Check out the percentage of owner occupation 30 years ago, compared to now. Much lower. Why, when the "factory worker" could afford a 4 bed house while his wife stayed at home? Explain it to me.

Obviously because people back then were exactly the same as peoples' attitudes to FTB'ers today, they were clearly a bunch of lazy bastards who were not trying hard enough and were wasting money on silly things like food and keeping warm, if only they tried a little harder, they expected too much... they should have first aspired to a flimsy tent on a bomb site to start with, they could have then progressed to a permanent structure like a dog kennel once they built up equity.

Also, ask yourself why NIMBY's rule the roost now their own housing needs have been provided for.

You seem to be agreeing with me, but I'm not sure.... :unsure:

Link to comment
Share on other sites

18
HOLA4419

Typical yungin these days. When I married at 25, my wife & I lived in a shared flat where the lounge was a rented room (so we had no lounge), we just had our own room. We had no phone, no car, a tiny TV, no mobile phone, the internet wasn't widely available in 1995 anyway and we made many sacrifices.

Why did we make sacrifices? Because we understood that the way we live today, impacts the way we'll live in the future. We were saving as hard as we could, putting away a few hundred pounds a month. We bought our first place within a year of marriage at 4.5 times our salaries.

So your future is up to you sunshine, squander it now, or live it later.

I enjoy reading these forums but rarely contribute. It's just my way. I like to absorb information and listen to people's opinions. Every time I read one of your posts I wrack my brains trying to figure out if you are just having a laugh on here at other people's expense for fun or if you really are just the biggest tosser I have ever come across. I have yet to see you contribute something credible or sensible.

Link to comment
Share on other sites

19
HOLA4420
20
HOLA4421

...or you could be living in this country, aged 45 plus, with a tiny mortgage nearly paid off, a huge house, a big fat final salary pension, and oodles of savings.

Stop telling them to "buck up". That is just insulting.

LP

Ignorant Steve has a good point - life in Britain is far better than life in most parts of the world. Many of us feel cheated by the increase in housing costs but this is only one part of life.

I don't for a moment think that Britain was a better place to live in 1994/ 1995 at the bottom of the property cycle (when I was in my mid twenties) than it is today. Likewise I'm not convinced that the boomers had any particular luck in life.

Link to comment
Share on other sites

21
HOLA4422

Casual Observer

Check out the percentage of owner occupation 30 years ago, compared to now. Much lower. Why, when the "factory worker" could afford a 4 bed house while his wife stayed at home? Explain it to me.

Availabilty of mortgages I would guess - far more stringent controls then.

One thing about the mid 70's is that depending quite where you were buying in the cycle over only a period of about 3/4 years there were market differences in affordability - which eventually did get evened out by wage inflation but I think that some certainly had it a lot easier than others at the time. Even heard anectdotal reports of some serious falls in prices in some areas over a matter of months, but again inflation quickly wiped those out.

Link to comment
Share on other sites

22
HOLA4423

I enjoy reading these forums but rarely contribute. It's just my way. I like to absorb information and listen to people's opinions. Every time I read one of your posts I wrack my brains trying to figure out if you are just having a laugh on here at other people's expense for fun or if you really are just the biggest tosser I have ever come across. I have yet to see you contribute something credible or sensible.

I spent a year lurking on this forum convinced that TTRTR must be a creation of the webmaster to encourage debate! I'm now more of the view that he really is a 'loadsamoney' landlord as no ghost writer could do the job so well.

Link to comment
Share on other sites

23
HOLA4424

I spent a year lurking on this forum convinced that TTRTR must be a creation of the webmaster to encourage debate! I'm now more of the view that he really is a 'loadsamoney' landlord as no ghost writer could do the job so well.

If that is the case, then I hope for the sake of his tenants that the properties he rents out are more structurally sound than his arguments.

Link to comment
Share on other sites

24
HOLA4425

to me, this appears symptomatic of the "I want it all NOW" generation.

At the risk of sounding like my parents / grandparents, when I was your age :rolleyes: I owned neither a home, nor a car, had no subscriptions to either broadband, nor cable / satellite telly, did not own a diamond enagement ring etc etc.

I was incredibly happy during those non-asset-ownership-carefree years, had no assets, but equally no debt, and would happily repeat them.

FFS!!!! stop moaning, and realise that you are still young, life is there to be lived, not assessed according to where you "should" be financially.

You are never going to starve, or go homeless as many do, regardless of the state of the UK economy.

Maybe if you stopped viewing yourself on a UK basis, and start considering your position globally you would be more content. Haven't you got something better to do as an early-twenties something with a young family that post on here on a Friday night?

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

Important Information