Triple Lock Plus.

[gas112]

daftest one i heard was 7 years ago guy at work sold his house and moved into rented because his house was going into negative equity.
Eh do you like your house .
yep its a great house position etc .
So why are you selling
Im getting out before we lose more money its went down 10k since we bought it .
How much is your rent going to be
oh about 650 a month
7 years on he is still in the same rented house .
Now there iis no telling some people

 

[Deleted member 221031]

Housing as an asset is one of the reasons why this country is in the mess that it is, imho.

So you’d rather yourself and your kids work for 50 years and have no asset/s at the end ?

The property market is as good as any other investment.

 

[Deleted member 221031]

yep can still be done , done it twice in the last ten years and know a few others that have as well

I agree. Once I’ve finished my current project I’ll have a look about.

 

[aveatry]

I forgot another one for the list -- tuition fees - which party introduced that one, I cant remember.

 

[Notch7]

Some won't.
T'was ever thus.



Some don't.
Some can't ever see the realistic prospect of doing so.
And the choice of language - "value", when speaking of "the property ladder" - says much about what is wrong with the situation, imho.

Jump on, or miss the boat!

Housing as an asset is one of the reasons why this country is in the mess that it is, imho.

you are arguing with bigoted idiots, I wouldnt bother

this is the simple fact:

the affordability ratio for house buying is about half what it was when they were buying

 

[Notch7]

I forgot another one for the list -- tuition fees - which party introduced that one, I cant remember.

£3k under labour

now £9,250

so thats your argument destroyed

 

[Deleted member 221031]

which party introduced that

so thats your argument destroyed

No it’s not!

Google Search

The key word being……..

 

[gas112]

you are arguing with bigoted idiots, I wouldnt bother

this is the simple fact:

the affordability ratio for house buying is about half what it was when they were buying

really i bought a house 2.5 years ago you saying prices have shot up since then

 

[Brigadier]

So you’d rather yourself and your kids work for 50 years and have no asset/s at the end ?

The property market is as good as any other investment.

Therein lies the problem.
If property was no good "as an investment", the logical corollary of that statement is that it does not outperform other means of increasing "wealth".
And would therefore, always remain within the grasp of the average person's means.

It follows that a place in which to live and, perhaps, raise a family, would not continue to move further and further away from what "the average" person can reasonably afford.
Which is where we are now.
The wealthy getting wealthier, and the have nots getting further and further cut-off.

I have no problem with people making their fortunes from entrepreneurism, through being the best TikTokker or making better mobile phones or car tyres or chocolate bars than anyone else. I do however baulk at an essential - somewhere to live - being used as a means to enrich some, at the expense of a growing number of others.

We've already gone from "affordability" being 25yr mortgages and single-income, to 40yrs and dual-income (and not always so, for a growing number of couples). And a big leg-up from "bank of mom and dad" being not a niceity, but a necessity.

Where next? The Japanese situation, where you take out 100yr mortgages, which are passed through the generations? Who is benefitting from that?

 

[Brigadier]

So you’d rather yourself and your kids work for 50 years and have no asset/s at the end ?

By "at the end", do you mean "dead"?



By "asset", and from the rest of your same post,

The property market is as good as any other investment.

I take it that you mean "investment"?

 

[Deleted member 221031]

Where next? The Japanese situation, where you take out 100yr mortgages, which are passed through the generations? Who is benefitting from that?

Like I said if you take the posh parts of the uk out of the equation, houses are affordable.

They have gone up, but those houses in Chelsea that cost 100k and are now 5 million throw the average house price all over the place.

I sold a house in 2008 for 120k, it’s in a lovely little village. It’s now worth 170k. Yeah it’s gone up, but wages have.

I really can’t see the issue.

UK annual full-time salary 2023 | Statista

Average annual earnings for full-time workers in the UK increased in 2023, after a small decline between 2020 and 2021.

www.statista.com

In 2008 it was approx 4.8x earnings, today it’s the same.

 

[Deleted member 221031]

By "at the end", do you mean "dead"?



By "asset", and from the rest of your same post,



I take it that you mean "investment"?

If you don’t follow, or don’t want to that’s your choice.

It’s not hard.

 

[Brigadier]

If you don’t follow, or don’t want to that’s your choice.

It’s not hard.

I just want clarity, so I'm not accused of debating about something you later claim to neither have said nor implied.

 

[Deleted member 221031]

I just want clarity, so I'm not accused of debating about something you later claim to not have said or implied.

Have a look at my other post, with figures in.

If that’s not for you, we’ll leave it there.

 

[Brigadier]

OK, we'll go with "dead".

And "asset" and "investment" as interchangeable.