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coolaftershave

Pushy Parents

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Really. I have given up and have accepted the fact that when I visit them after the first few hours of

nice to see you son.... they are always going to start telling me how renting is a waste of money

and that I should buy. Arguing over this is now a regular event. :(

Anyway...

After trying to think of ways to show parents that buying

a house now is bad news. I thought of the following.

Back in 1994ish when my dad got his house it was about 90,000.

With a good deposit and a wage of £13 an hour.

Year ------- Wage/h ------- Price (thousands) ------- wage % Price (thousands)

1994 ------- 13 ------- 90 ------- 33%

Being very generous say his salary has DOUBLED since then.

Also note the house has been valued at 450 (thousand)

Year ------- Wage/h ------- Price (thousands) ------- wage % price (thousands)

2006 ------- 26 ------- 450 ------- 5.7%

Now... I was thinking in terms off effective wage relevant to house price.

Taking 5.7% of the original house price would mean that his wage

would now be £5.20. The now £26 per hour would buy you LESS!

His wage has in fact dropped!

Am I making any sense to anyone?

I'm trying to show that his hourly pay in terms of brick buying has fallen to

less than half of what it was back then.

So how am I going to buy a decent house. :angry:

Edited by coolaftershave

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It's even more frustrating considering that my dad got his fingers badly burned lending my sister money for a BTL back in 1987. Despite loads of DIY/decoration, she sold in '97 at a loss! He still pesters me to buy now, citing any VI press article as evidence that the crash ain't gonna happen, ever, prices are going to keep rising and that I'm going to be left behind...etc...etc... I now try to get off the subject ASAP as it's just not worth it.

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It's even more frustrating considering that my dad got his fingers badly burned lending my sister money for a BTL back in 1987. Despite loads of DIY/decoration, she sold in '97 at a loss! He still pesters me to buy now, citing any VI press article as evidence that the crash ain't gonna happen, ever, prices are going to keep rising and that I'm going to be left behind...etc...etc... I now try to get off the subject ASAP as it's just not worth it.

I really try to avoid it. They just keep finding more imaginative ways of putting it in the conversation.

e.g.

Me: Just saw a great film at the cinema.

Them(What I expect): Oh yea? Which one was it? Was it good?

Them(what they say): Well.. if you buy a house you'll have your own front room.

No need to go out to the cinema....

Here... I have a few properties I picked out in the propertypapers

and I think you should give them a call.

I want to cry.... :blink::blink::blink:

Edited by coolaftershave

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Guest The_Oldie

It's even more frustrating considering that my dad got his fingers badly burned lending my sister money for a BTL back in 1987. Despite loads of DIY/decoration, she sold in '97 at a loss! He still pesters me to buy now, citing any VI press article as evidence that the crash ain't gonna happen, ever, prices are going to keep rising and that I'm going to be left behind...etc...etc... I now try to get off the subject ASAP as it's just not worth it.

Exactly the same mentality as as was prevalent at the end of the dotcom bubble in late 1999 / early 2000 :rolleyes:.

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  • 333 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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