How do millennials buy a house?

[classimmons]

1 minute ago, Insane said:

I have spoken with a few people who worked for housing associations. 

One told me he knew full well that properties were being sub let the person who it was allocated to was living elsewhere while making a profit on the rent. He ignored these situations as he did not want the hassle and extra work involved evicting people so it carried on.

Another complained that the work involved with this sort of thing was too much bother and if the house was being lived in by someone so what. 

I heard Exactly the same thing when I was there.

When I was there I would go to meetings with so called directors who would be given a task for the next meeting -they would just not bother to do it and it would be left for another day. Zero urgency. 
Another guy always had an appointment at 3 pm so left at 2.  It was a standing joke that his car would be outside his hiouse by 3 as other people had followed him.  No recourse for this behaviour.

Was a women there who had taken 5 months off saying she felt she was being possessed by an evil spirit! I kid then not a wit!

Friday was for a lot of people a long pub lunch followed by an "appointment". 

They would employ consultants do do things that the staff who should have been able to do them were totally incapable of.

There were a handful of people who were good and who cared.  All of them had been recruited from the private sector and they were very much a minority.

I have also worked with LAs it is the same thing.

Once they are in they never leave the work conditions salary and pension are better than the private sector.

MSI thinks this ethos is fine it appears! LOL 

[classimmons]

4 hours ago, Dorkins said:

I do wonder if at some point the average worker is going to twig that a few % of their paypacket going into a DC pension is not going to make a material difference to their living standards in retirement and they really ought to be putting in 20-30% as happens with some of the public sector DB pension schemes. This would dramatically reduce the share of income that people could put towards housing.

A lot of people will load money into the house and downsize. 

[iamnumerate]

21 minutes ago, Insane said:

I have spoken with a few people who worked for housing associations. 

One told me he knew full well that properties were being sub let the person who it was allocated to was living elsewhere while making a profit on the rent. He ignored these situations as he did not want the hassle and extra work involved evicting people so it carried on.

Another complained that the work involved with this sort of thing was too much bother and if the house was being lived in by someone so what. 

 

A friend has a council flat and he told me that one of his neighbours was sub letting but no one said anything because if they did the council might put someone worse there!

[satsuma]

16 minutes ago, classimmons said:

I heard Exactly the same thing when I was there.

When I was there I would go to meetings with so called directors who would be given a task for the next meeting -they would just not bother to do it and it would be left for another day. Zero urgency. 
Another guy always had an appointment at 3 pm so left at 2.  It was a standing joke that his car would be outside his hiouse by 3 as other people had followed him.  No recourse for this behaviour.

Was a women there who had taken 5 months off saying she felt she was being possessed by an evil spirit! I kid then not a wit!

Friday was for a lot of people a long pub lunch followed by an "appointment". 

They would employ consultants do do things that the staff who should have been able to do them were totally incapable of.

There were a handful of people who were good and who cared.  All of them had been recruited from the private sector and they were very much a minority.

I have also worked with LAs it is the same thing.

Once they are in they never leave the work conditions salary and pension are better than the private sector.

MSI thinks this ethos is fine it appears! LOL 

I worked in one of these government offices when I was a student, doing admin to pay for Uni.  Honestly, they did no work, one guy came in at 9AM to clock in, left before 10 and came back to clock out around 4.  Apparently he spent the day in the bookies.  Much of government is like this, underworked and massively wasteful.  

[msi]

1 hour ago, classimmons said:

Calling someone you know nothing about names it what is pathetic.

I have worked at a HA.

They are totally uncommercial.

1st day the dept I was working with went to the pub for lunch for a birthday and did not go back to the office.

One guy was sick nearly every Friday.

Most people there - there were exceptions - were lazy and disinterested.  They knew it was a doddle of a gig which is why they stayed.

Older people on final salary pensions.

If you think that is a good use of taxpayers money good luck.  

 

Cool story bro.  I won't hold my breath for quantified evidence.

[Dorkins]

53 minutes ago, classimmons said:

A lot of people will load money into the house and downsize. 

Downsizing is largely a myth. Most of the population lives in a small house in an ordinary area, there are not many rungs below that on the ladder and those that do exist would entail a large drop in living standards (e.g. moving to a rough area or into a studio flat or HMO).

It's not at all unusual for people buying a property at the start of their retirement to end up spending more on the new place than they get for their old one. They are typically competing with other retirees for the same types of properties, and in the current economic system retirees are the ones with money so the prices are high.

Also there is no such thing as 'loading money into the house', a house is not a bank account or a mattress where you can store currency.

Edited April 26, 2022 by Dorkins

[msi]

1 hour ago, classimmons said:

MSI thinks this ethos is fine it appears! LOL 

Don't dare put words in my mouth. Facts not blather.  Muppet

[classimmons]

3 minutes ago, msi said:

Don't dare put words in my mouth. Facts not blather.  Muppet

Hey you can call me a name - big man - so scary LOL 

I did talk facts you I was there#

You were not

Tsser

[classimmons]

4 minutes ago, msi said:

Don't dare put words in my mouth. Facts not blather.  Muppet

Any why not dare - what are you going to do

 

[The Moderators]

Noted and actioned.

[classimmons]

58 minutes ago, msi said:

Cool story bro.  I won't hold my breath for quantified evidence.

You can do what you want

I have no need to lie

Nor do I care if you believe me or not you are just a loser who is angry at the world because you feel the world owes you a house and you cannot afford to buy one 

I will not reply again you are too much of a w@@@@r

To busy earning money

I assume you work in the sort of easy work environment I talked about

[The Moderators]

No more.

[winkie]

 

 

[Insane]

2 hours ago, classimmons said:

I have also worked with LAs it is the same thing.

A few years back there was an interview on the TV with a man who had been bought in to one of the London Councils to sort out the failings. His job was to whip it into shape.

He mentioned a young lady coming in to see him her question was how was she to take off her unused sick leave carried over from the year before ? 

I must admit that the private sector can suffer with some of this as well. Especially large corporations. Where I worked we did 12 hour shifts covering 24/7. So 7 shifts was equal to two weeks work. It was well know any body could take off 7 shifts per year with no one bating an eyelid. After I had been there just under a year my supervisor had a chat with me about how I was getting on and mentioned in a round about way that I had not taken any sick and it would be a good idea if I did as it made others who took their sick leave look bad. We all had to keep our end up. 

[MancTom]

58 minutes ago, Insane said:

A few years back there was an interview on the TV with a man who had been bought in to one of the London Councils to sort out the failings. His job was to whip it into shape.

He mentioned a young lady coming in to see him her question was how was she to take off her unused sick leave carried over from the year before ? 

I must admit that the private sector can suffer with some of this as well. Especially large corporations. Where I worked we did 12 hour shifts covering 24/7. So 7 shifts was equal to two weeks work. It was well know any body could take off 7 shifts per year with no one bating an eyelid. After I had been there just under a year my supervisor had a chat with me about how I was getting on and mentioned in a round about way that I had not taken any sick and it would be a good idea if I did as it made others who took their sick leave look bad. We all had to keep our end up. 

I was told off some years ago for listing too many achievements in my annual review - apparently since I only worked 9 to 5 it made others look bad who worked longer hours and did not produce as much. A lot of people at universities think being in meetings and answering emails is work, but often it does not actually produce anything of use.

[Twenty Something]

9 hours ago, Dorkins said:

A market is where supply meets demand, and in UK housing both sides of that equation are heavily manipulated by policymakers e.g. the planning system on the supply side and the constant interference in the financial sector on the demand side.

I can’t imagine there are (m)any markets that aren’t manipulated. Look at the GameStop situation last year where an Internet forum managed to ruin some of the banking elite. Trade tariffs, fishing quotas, crypto and so on. Sure, property is no different. Planning regs, help to buy, yadda yadda. I don’t subscribe to the notion that everything is setup to support housing, but I’m sure it’s a consideration.

A question I’ve asked here before - why not align yourself to the money men then? Not really aimed at you, but a wider question for anyone supposedly holding off until it all falls apart. 

[iamnumerate]

16 hours ago, Insane said:

A few years back there was an interview on the TV with a man who had been bought in to one of the London Councils to sort out the failings. His job was to whip it into shape.

He mentioned a young lady coming in to see him her question was how was she to take off her unused sick leave carried over from the year before ? 

I must admit that the private sector can suffer with some of this as well. Especially large corporations. Where I worked we did 12 hour shifts covering 24/7. So 7 shifts was equal to two weeks work. It was well know any body could take off 7 shifts per year with no one bating an eyelid. After I had been there just under a year my supervisor had a chat with me about how I was getting on and mentioned in a round about way that I had not taken any sick and it would be a good idea if I did as it made others who took their sick leave look bad. We all had to keep our end up. 

In Norwich of course the staff moved tenants out and got housing themselves

 

[Money Frugality]

On 25/04/2022 at 08:44, iamnumerate said:

I think there is definetly a problem with some people's spending.

However in my road in 1995 two nurses just out of nursing college could have easily bought a house (the basic salary £12K and a house cost £60k).

https://api.parliament.uk/historic-hansard/written-answers/1994/nov/24/nurses-pay

Now it is £400k and I don't think nurses' basic salary is £60K now

NHS and state problem, privatise it if you want more pay.

 

Productivity > value > wage. Times have changed, chose a different career that pay more.

On 25/04/2022 at 08:32, iamnumerate said:

I knew loads of people in the 90s who bought and were not at all frugal. One person I know spent £40 just on entry to a nightclub for New Years Eve in 96.

 

Less things to spend you're money on.. This anecdote is irrelevant 

Edited May 1, 2022 by Money Frugality

[Money Frugality]

On 25/04/2022 at 10:13, classimmons said:

I am 32 and own my own house - got lucky with a business.

Before we got lucky we had a mortgage and were very careful with money.  We ate out rarely, had 1 holiday a year in the UK, we did not go on city breaks a few times  a year,  did not spend money on Costa, we still do not have SKy, Netflix, we do not buy designer clothes

Another fine example of a millennial who did things right and isn't complaining due to it. Take notice folks, the ones not actually complaining are the ones who were frugal (PRIORITISED). 

 

I still bum a Netflix password.. 😅 

Edited May 1, 2022 by Money Frugality

[Freki]

6 hours ago, Money Frugality said:

Another fine example of a millennial who did things right and isn't complaining due to it. Take notice folks, the ones not actually complaining are the ones who were frugal (PRIORITISED). 

 

I still bum a Netflix password.. 😅 

You could switch to a cherry picking career, it seems you would like it.

[anonguest]

On 23/04/2022 at 16:30, byron78 said:

Southern Water has funneled half a billion into hedge fund pockets.

For the benefit of those not aware or in need of explanation could you please, at least briefly, enlighten us (or provide a link or two).  Ta.