Wednesday, August 24, 2011

35 plus 25 year repayment mortage = retirement age

Age at which buyers expect to buy first home: 35

"The average age of a first time buyer has been increasing steadily since the 1960s and new research from Post Office Mortgages has revealed that 35 is the average age that a prospective homebuyer now expects to be before joining the property ladder. The research tracked the average age of first time buyers since 1960, finding that those who bought their first home in the early 1960s were on average just 23 years old – significantly lower than today’s expected average age of 35. Women who do not yet own a property are slightly more optimistic than men, expecting to buy a home at 34, compared to the male expected average of 37 years old." Yup, that's fifteen years as a rent slave and then twenty five as a mortgage slave, then you can site on your high horse and berate young people.

Posted by mark wadsworth @ 03:25 PM (1865 views)
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9 thoughts on “35 plus 25 year repayment mortage = retirement age

  • Thecountofnowhere says:

    Peoples life expectancy 150 years ago was about this age.

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  • MW – should that read “then you can sh1te on your high horse and berate young people” ? or have you got the titanicaptain spellchecker on?

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  • ‘Buy’ first home – don’t they mean take on first huge debt?

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  • sibley's b'stard child says:

    MW, you’re not factoring in that by the time this generation of FTBs buy they won’t retire till they’re 80.

    Ha ha, we win bankster suckers. Oh, hang on…

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  • mark wadsworth says:

    JC, I was using TC’s speckllecker.

    SBC, look on the bright side, if you’re too old and tired to work any more at the age of 70, you can then start MEWing to free up a bit of cash to see you through until your state pension starts, and then use the state pension to pay off the second mortgage.

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  • Or alternatively get a temp job at RBS, pay off your mortgage by 24 and retire at 28.

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  • I expect to be 60 when I take out my first mortgage, I’ll need to work until I am 85. On second thoughts I would be better of waiting for social housing.

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  • Buy in a BRICK. By the time house prices reach normal levels, the so called ’emerging’ markets won’t be ’emerging’ anymore.

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  • Hi Timmy – they pulled that Gold thread. Anyway i just wanted to say thanks for the support. Who knows why hpw is the way he is, i think we just have to accept it takes all sorts.

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