Taking possession of something you own.

[aveatry]

Aveatry chose to raise it.

As did Thatcher.


"The 1979 Conservative government
The incoming administration of Margaret Thatcher raised interest rates to 17 per cent"

How prices are now enormously higher.

We couldn't afford a normal mortgage so had an endowment backed one so interest only. for a run down house with no furniture and rotten windows. First time buyers these days expect too much handed to them on a plate and if they can not have it then its everyone else's fault apart from themselves. This kind of attitude has started in the primary schools dominated by left wing activist teachers and we are were we are with an entitled younger generation.
Endowments - there's one for you - taught me a lesson on who to trust.

 

[JohnD]

We couldn't afford a normal mortgage

What did you pay for your house 50 years ago?

 

[gas112]

t

What did you pay for your house 50 years ago?

My mortgage payments at 15% were a lot more of a percentage of my wage than the 4% and below most have been paying for the past decade or longer .

 

[JohnD]

What did you pay for your house 50 years ago?

 

[aveatry]

What did you pay for your house 50 years ago?

It wasn't 50 years ago. brought for 38k - spent 7k on it and sold it for 39k after 7 years - what's your point.

 

[JohnD]

It wasn't 50 years ago.

How many years was it?

 

[berty3000]

Yep, **** the nursery workers, bin men and people who work low wages. They can use tents.

They haven't been shafted by landlords but by those who support mass immigration - which has made housing scarce and unaffordable for those on lower incomes. You can't have a million new people a year coming in and expect there to be no impact on housing availability. Then there are the so called asylum seekers who go to the front of the queue and get express housing arranged for them on the public purse. Oh, and all the nutcase environmental legislation that some people also support, which has made building new homes more and more difficult.

... but let's blame the small, private landlords.

 

[Mottie]

It was no picnic despite what some say and the ONLY new item we had in our house was the bed. Everyone I knew bought a house in shìt order and did it up themselves. Our house was so rotten, we lived upstairs in the main bedroom and it was exactly a year to the day that we moved downstairs. We replaced the floors, the doors, had the ceilings and walls replastered, fitted new windows, fitted a new kitchen and downstairs bathroom, rewired throughout and had central heating fitted. We had one car between us and had holidays in caravans. We didn’t eat out much either. Oh yeah, we all got married in a church and had a 'do' in a community centre. No £30k designer weddings in posh hotels for us.

I honestly don’t know any youngsters that would do that these days to own a house.

 

[aveatry]

How many years was it?

I don't get what your angle is on it - we sold it for a 6 grand loss

 

[gas112]

What did you pay for your house 50 years ago?

what bit of the percentage rate could result in paying far more for a far cheaper house than for a dearer house on far lower interest rates years later

 

[berty3000]

It was no picnic despite what some say and the ONLY new item we had in our house was the bed. Everyone I knew bought a house in shìt order and did it up themselves. Our house was so rotten, we lived upstairs in the main bedroom and it was exactly a year to the day that we moved downstairs. We replaced the floors, the doors, had the ceilings and walls replastered, fitted new windows, fitted a new kitchen and downstairs bathroom, rewired throughout and had central heating fitted. We had one car between us and had holidays in caravans. We didn’t eat out much either. Oh yeah, we all got married in a church and had a 'do' in a community centre. No £30k designer weddings in posh hotels for us.

I honestly don’t know any youngsters that would do that these days to own a house.

It's precisely what I did a couple of years ago. Exact same story, more or less. Except I probably paid a lot more than you. Lived in master bedroom and lived through the total renovation of the house. Stressful, very expensive... but just how it is if you want your own place in this country with its knackered housing stock, too many people, and not enough houses.

All started with the New Labour governments - housing was affordable to many more people before they came along, and then their clones in blue carried on the same racket and mess.

 

[JohnD]

I don't get what your angle is on it - we sold it for a 6 grand loss

I'm sorry to hear it was worth less after all your DIY than before.

Perhaps you will pick up some tips here.

 

[ellal]

It was no picnic despite what some say and the ONLY new item we had in our house was the bed. Everyone I knew bought a house in shìt order and did it up themselves. Our house was so rotten, we lived upstairs in the main bedroom and it was exactly a year to the day that we moved downstairs. We replaced the floors, the doors, had the ceilings and walls replastered, fitted new windows, fitted a new kitchen and downstairs bathroom, rewired throughout and had central heating fitted. We had one car between us and had holidays in caravans. We didn’t eat out much either.

Same with us...

Doing several jobs and didn't have the heating on for years so it was quilts and living on the 'phaals bonus' we got from the late night curry delivery runs...

Did most of our work ourselves too...

I honestly don’t know any youngsters that would do that these days to own a house.

What I think you fail to appreciate is that although we are a fair bit younger than you, we also benefited from the rapid rise in property prices and acted accordingly and were eventually able to invest in various different areas...

Thus we have been able to help our kids out, whilst trying not to give them a 'get out of jail free' card as regards to what they do with their own lives...

Ten years later and we would have been in the trap that most people find themselves in now...

Young people nowadays are left in a far worse position than when we were growing up, and added to that they have very little chance of freely moving to Europe in the chance of better opportunities...

Ours are doing fine by themselves after that initial help, and because of the good fortune we had as regards the timing of when we got on the property ladder we will no doubt help them out as and when needed...

But most young people have no hope because they don't have those parental resources...

And if you truly think you know of no youngsters that would happily graft if they had a decent chance to improve their live chances then it is you that has a problem not them!

 

[diy_fun_uk]

Surely it’s £1,440 per year increase?

Oh for goodness sake guys, for both 2007 and present day I used the acronym 'pcm' after each monetary value. Ok not everyone will know, however it stands for Per Calendar Month.

So if the rent was 360 pcm in 2007 and 480 pcm present day, and you've already been provided with the value 7.05 ... do the maths

 

[JohnD]

So if the rent was 360 pcm in 2007 and 480 pcm present day

A 33% increase in 17 years.

But what has the value of the property increased by?