Can we line up and give them a clap when they lose their own homes?
After all, it's what they wanted!
Brexit humiliation
- Thread starter noseall
- Start date
After all, it's what they wanted!
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Mottie, for example, is old enough that he started buying houses before house price inflation rose faster than earnings. So will probably not suffer in that way.
He pretends not to know that homes have become less affordable in the last 50 years.
It will be the younger people that suffer most.
He pretends not to know that homes have become less affordable in the last 50 years.
It will be the younger people that suffer most.
That is the saddest thing about brexit...
Not just the massive financial implications, but the loss of the opportunities that have been snatched away from them...
Opportunities that mottie and all other brexiteers benefitted from themselves!
Our youngest is currently at university abroad.
Approx 500 Euros a year with accommodation capped at 350 Euros a month.
Plenty of work available, and being a dual national no work visa required...
Lifelong friends in the UK don't have that chance!
Brexiteers either do not care about the young, or they truly do not understand the disaster that they voted for!
Long ago, when I was young, a first-time buyer could get a mortgage of 2.5 x times salary, plus 1 x times second persons salary.
On which we bought a small, run-down house. It was of course a struggle, and when the car broke, we had to take it off the road, couldn't afford tax, insurance and repair for a couple of years.
Today, the mean average salary for all workers in the UK is £31,447. The median average salary for full-time workers in the UK is £31,285.
And young people mostly on less.
Three and a half times is about £110k.
If you don't have a permanent, full-time job, or are on a zero hours contract, you are doomed.
On which we bought a small, run-down house. It was of course a struggle, and when the car broke, we had to take it off the road, couldn't afford tax, insurance and repair for a couple of years.
Today, the mean average salary for all workers in the UK is £31,447. The median average salary for full-time workers in the UK is £31,285.
And young people mostly on less.
Three and a half times is about £110k.
If you don't have a permanent, full-time job, or are on a zero hours contract, you are doomed.
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Where this UK mortgage meltdown will really bite
For both banks and consumers, the shock will jar some more than others
www.ft.com
"Younger people, many already shut out of buying, are likely to be those who increasingly struggle to get a mortgage on affordability grounds. First-time buyers, who last year borrowed on an average income ratio of 3.58 times based on UK Finance numbers, are likely to be most affected by higher rates and tightened lending criteria, followed by home movers on 2.96 times and those remortgaging on 2.8 times.
And just as with energy, poorer households will suffer most. UK Finance earlier this month looked at household “wiggle room”, or the proportion of disposable income left after mortgage repayments and basic expenditure. A 100 basis point rise in mortgage rates (and the market is pricing in close to triple that by the end of the year) left the picture for richest households barely changed, but meant a substantial deterioration in the position of those in the lowest income brackets. Even for this modest rise in rates, the trade body estimated that three in 10 could struggle to pay their bills after refinancing this year.
Needless to say, these are also among the households set to benefit least from the tax cuts that helped spark this mess."
Where this UK mortgage meltdown will really bite
For both banks and consumers, the shock will jar some more than others
"Younger people, many already shut out of buying, are likely to be those who increasingly struggle to get a mortgage on affordability grounds. First-time buyers, who last year borrowed on an average income ratio of 3.58 times based on UK Finance numbers, are likely to be most affected by higher rates and tightened lending criteria, followed by home movers on 2.96 times and those remortgaging on 2.8 times.
And just as with energy, poorer households will suffer most. UK Finance earlier this month looked at household “wiggle room”, or the proportion of disposable income left after mortgage repayments and basic expenditure. A 100 basis point rise in mortgage rates (and the market is pricing in close to triple that by the end of the year) left the picture for richest households barely changed, but meant a substantial deterioration in the position of those in the lowest income brackets. Even for this modest rise in rates, the trade body estimated that three in 10 could struggle to pay their bills after refinancing this year.
Needless to say, these are also among the households set to benefit least from the tax cuts that helped spark this mess."
A health dose of growth could change all of that, but you don't want that do you, why?
The problem with extremists (particularly right wing ones) is that they make false claims about the rational approach whilst refusing to say how their nutjob approach will work...
Care to buck that trend?
Of course you won't because you are simply promoting the same old bovine excrement!
Well they’ll just have to try harder! Try and find a starter home and it’s quite hard so someone’s bloody buying 'em! Years ago though, we only had necessary house expenses to find - we didn’t have the financial pressure and burden of having latest greatest mobile phone on a £70/Mo contract X2, a £400/Mo car on lease X2, Sky TV package at £90/Mo, Gym membership at £60/Mo X2, live on takeaways and eating out, trying to live a competitive celebrity lifestyle - a couple of foreign holidays to stick up on instaface, designer clothes, £300 hairdo's, faces pumped full of fillers, plastic tits etc etc. Most people can’t have both yet most youngsters would plump for the 'celebrity' lifestyle and stay with mummy and daddy until they are well into their late thirties/ early forties.
Is that they hide behind the anonymity of a computer screen and wont disclose what they think should happen or even who they voted for……
Yep...
Those already with money, and given their latest taxpayer handout the same people will be buying up property when the inevitable house price crash comes...
And rents will continue to rise, thus the percentage of those unable to afford a roof over their head will also rise...
The thing is that the blinkered people who believe that they will be immune from the downturn will be possibly the most affected by the inevitable social unrest...
Injustice leads to violence...
Are you prepared to defend what you own and your family members?
And by what means?
Quelle surprise! Another 'new' EU loving, U.K. hating member has just signed up to this DIY forum. Tell us, Enoch, what brought you to this DIY forum, heating? Electrics? Carpentry assistance? Nah! Brexit and anti-toryism!
What shît you talk, comrade.
Better send them round Ellals - he claims to have a couple.
Just wondering what DIY advice you can offer. Whats your specialism or is that a secret?
That might be applied to person who brags that he doesn't care how much the nation is damaged
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