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How Many People Can Afford To Buy?


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Without a mortgage.......not a cat in hell.......at anytime of the market...and im 39 so ive been around at the lows, but never able to afford outright.......brrrrrrrrr the cold oppresive north.........hang on...grrrrrrr im one of the top earners in my county(cumbria).....i most be sooooooo cak with my money. :unsure:

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Without a mortgage.......not a cat in hell.......at anytime of the market...and im 39 so ive been around at the lows, but never able to afford outright.......brrrrrrrrr the cold oppresive north.........hang on...grrrrrrr im one of the top earners in my county(cumbria).....i most be sooooooo cak with my money. :unsure:

LOL....just reread orig post........i read it as not trying to get a mortgage...not.. lying to get one.......

i really do live up to my name.

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I can buy virtually any 2 bed house within probably a 40 mile radius of where I am. And with most have enough left over to invest to cover the bills.

But I am renting as I have no job so no idea where jobs are/where I will end up.

I did move here based a lot on house prices being cheap.

Looking to buy in 2-3 years probably.

Edited by ScaredEitherWay
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Norfolk ´n´ chance these days even in Spain!

Unfortunately, these days being the wrong side of 40 means you are passed it in most companies eyes, so minimum wage jobs are all you´re likely to get. Previous prudency has allowed me to own outright but whether my war chest will last until I´m ready to pop my clogs, your guess is as good as mine.

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I could buy but really don't see the point when I'm renting for £650 pcm a flat that is "worth" £220K.

Apparently the landlord "owns" 7 of the flats in the building. Hope he's enjoying that lovely 3.5% yield. Also the flat across from me only just got leased after being empty since I moved in in March. What is more is that I'm paying £100 less pcm for a better flat than I had 1 year ago.

Thank you developers for building lots and lots and lots of new flats in Glasgow and thank you BTL speculators for buying them all up. Renters market.

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The reason I started this thread was to see how many people were truly unable to buy now, and apart from KingCharles everyone is able to buy even if at a stretch. It would be interesting to find out how many can afford to rent without the help of benifits from Gordon.

Until a much larger proportion is unable to buy there can not be any downturn in prices, so will we enter a recessionary period or if not how high will prices need go up until maximum affordability is reached?

There has been talk about house prices accelerating over the coming years, is this really possible?

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The reason I started this thread was to see how many people were truly unable to buy now, and apart from KingCharles everyone is able to buy even if at a stretch. It would be interesting to find out how many can afford to rent without the help of benifits from Gordon.

Until a much larger proportion is unable to buy there can not be any downturn in prices, so will we enter a recessionary period or if not how high will prices need go up until maximum affordability is reached?

There has been talk about house prices accelerating over the coming years, is this really possible?

True although most of the people on here seem to have better than average wages, due to the fact that we are clever, this is indicated by the fact that we choose not to buy in an overinflated market.

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True although most of the people on here seem to have better than average wages, due to the fact that we are clever, this is indicated by the fact that we choose not to buy in an overinflated market.

yeah I'd say the average working man with the average job and average salary probably isn't sitting at a PC browsing the web and reading this website on a tuesday afternoon.....

...he's too busy building those flats across the road. :P

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True although most of the people on here seem to have better than average wages, due to the fact that we are clever, this is indicated by the fact that we choose not to buy in an overinflated market.

:lol: If I had kept the two flats I owned instead of selling them because I thought there was going to be a HPC then I could have sold them now and paid off my entire mortgage!! not feeling that clever at the moment.

That aside I do own my main residence but want to move to a bigger place in the medium term. I can afford it but I am waiting to see where the interest rates\economy go in the short term. I would consider doing an STR but only for year, mainly to move to the new area and get a better feel for it whilst searching for the right property to move into.

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Talking to a number of people over the past few weeks it seems there are so many looking to enter the BTL business. It seems so easy as compared any other business as equity from existing property can be used for collateral and finance is so easy to obtain.

Many feel it is the only way to save for their or their childrens futures as nothing else they can see has any real value. I have been arguing the case for equities, which has lost all credibility over the last few days, and apart from championing other dubious asset classes have no real answer to them.

They realise true inflation is running at around 13%, as most do, but there seems to be a growing consensus this inflation is accelerating and in real terms is way beyond any growth likely in equities or comodities. Holding assets with no intrinsic value is not favoured by this group and apart from hoarding tins of beans property/land they feel is their only choice.

It is logical especially where any gearing necessary is modest. Where large debts are necessary is a different matter entirely.

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afford a house? I've more chance of platting spunk.

10x salary might buy me the 2-up-2-down I'm currently renting. When it drops back to 3.5x salary I can buy, but I won't before that, I don't believe anyone should have to spend more than a third of their income on accomodation. These 'historic multiples' were very sensible and there for a very good reason! But then again Nu-Labia abolished common sense didn't they?

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Why does everybody always want a bigger house?

I've been looking at houses and to be honest I want a 1-bed house. Only thing that stops me liking them is the size - they assume you are starting out.

All I need is one room. If I could get a big studio, with the bed in a corner, a kitchenette and a small bathroom, that'd be it. Only heating and maintaining and cleaning 1 room is a cheap way to live. Realistically, I'll probably get a 2-bed house, open plan living space, conservatory, driveway. But even so I know I will never go into bed-2 ever. And, quite frankly, will probably nod off on the sofa most nights and not even make it to bed-1.

Not spending more than I need to on council tax, furniture, insurance, maintenance.

How many rooms in these bigger houses are you:

1) Never going to go into

2) Have "just in case XYZ" comes to stay

3) Filling with junk

When you look at the cost of the extra room - if you saved that money instead, you could:

1) Not have to spend out on curtains/carpets/lampshade/furniture to go in it

2) Afford to put up XYZ in a B&B instead - giving you all more space

3) Get rid of stuff you'll never use again

Minimalist living is the way forward. Don't over-consume. Keep your money for fun stuff.

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my take home pay is about 1300 a month which is ok for Northern Ireland but I'd need 10-13 times my salary to afford a house here, even flats are going for 180k+ .....9 times my salary

no mission of getting on the ladder ever, and as I'm going through a divorce I gues sit'll be even less chance after that's done :D

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