House price gravy train may have hit the buffers

[Ivor Windybottom]

I tried living within the M25 as an amibitious 20-odd year old. Tempted by a decent-ish salary, but soon concluded it was impossible to live there in decency. I was renting a room in an ex-council house, it was an utterly miserable existence. Soon learnt my lesson and got the hell out of there.

I never got money from parents. But it's now become necessary. Those doing it have pushed up prices for everyone else, it's an arms race. There's no social mobility now, if you're born poor you're probably going to stay that way.

I'm proud to have come from humble beginnings to living mortgage-free in a really lovely house. Sacrifices have been made, it wasn't easy, but I just don't think it's possible any more for most younger people. We've collectively pulled up the drawbridge and told them to sod off.

 

[Highway Man]

Smug comment , designed to wind up those not able to have bought a house for less than a years salary.

Oh my word. You would need a hell of a job to afford my house in an elite village. There won’t be many in my village that could have bought any in my area for a years salary.

 

[diy_fun_uk]

How on earth do”normal” wage earners in London afford to rent?

Believe it or not, not everything revolves around London

Did you see my earlier post where I said 'I'm in Fife'?

In my later post did you see where I said 'some, not all'?

Wind yir neck in.

 

[Highway Man]

Believe it or not, not everything revolves around London

Did you see my earlier post where I said 'I'm in Fife'?

In my later post did you see where I said 'some, not all'?

Wind yir neck in.

I have always found that really poor people have one hell of a chip on their shoulders.

 

[Mottie]

My point - which you obviously missed or are wilfully ignorant of - is that, to save up, you have to cut expenditure.

And with renting typically costing more than a mortgage, they can't save up unless they don't have that rent outgoing.

Ergo, free / cheap board and lodgings.

Maybe it’s because they don’t start saving while they are living at home, practically rent free. Many don’t even think about getting married until they are in their mid to late 30’s - too busy living the celebrity lifestyle. I met Mrs Mottie to be when I was 21 and she was 17. We got married at 26 and 22. Again, none of my mates had left home and were paying rent plus other expenses while trying to save up at the same time. Not a single one of them. Mind you, we all left school and started work at 16. Not 26 with a massive university debt. You lived at home, saved like crazy for a deposit, cut back on non essential expenses, bought a house that needed doing up and then got married. Modestly. One stag/hen do a few nights before a wedding in a church with a reception in the local community centre. Often supplied our own food too. No week long stag do's abroad followed by £30k+ weddings in a castle or some such luxurious venue or even another country and certainly no expensive honeymoons. Times have changed beyond all recognition for most 'youngsters' these days. They all seem to want to live like Posh 'n Becks!

 

[fillyboy]

Filly must live in isolation. I could name at least a dozen people that I know well that bought their first house about the same time as me.
Several of those I know were on a single income. The others I can't say for certain.

First house was £15250 in 1978, two bed mid terrace in a poor part of Slough, I was in freight forwarding earning above average, wife to be was a secretary earning average. We knew 4 or 5 sets of couples buying at the same time. all as couples with joint income, none of them could have done it solo. Sold that house in 1980 for £22,500 (this was the boom period for prices) and bought a 3 bed Victorian end terrace in a better part of Town Langley) and sold that in 1982 for £32500 and bought a 3 bed semi with garage in a nice part of Langley for £44,000

How much and where were the houses you and your friends were buying on a single income?

 

[aveatry]

Really? I did in 1980, then again in 1993, then again in 2005, then again in 2008.
And about to do the same again asap.

For the love of god please do not come back to the UK and subject us all to your nonsense at normal UK waking hours

 

[aveatry]

My point - which you obviously missed or are wilfully ignorant of - is that, to save up, you have to cut expenditure.
And with renting typically costing more than a mortgage,

You got stats for that "Typically" statement

they can't save up unless they don't have that rent outgoing.
Ergo, free / cheap board and lodgings.