Sick and tired of chasing dreams of finding a home.

[GoLdFInGeR]

sadly many youngsters don't have parents that can help.

 

But isn't that kind of how it's supposed to work. I'm going to help my children get a leg up and I'm sure they will help their children to do the same. If someone is not in a position to help their children, who's fault is that?

[MrSmith]

But isn't that kind of how it's supposed to work. I'm going to help my children get a leg up and I'm sure they will help their children to do the same. If someone is not in a position to help their children, who's fault is that?

 

No, I didn't need a leg up because housing was affordable; it’s only just become necessary for parents to help children buy a house. .

 

Middle-class parents and grandparents will be able to use money from their pension funds to give grown-up children a deposit to get on the housing ladder, the Liberal Democrats have promised.

 

Not the best idea in the world.

[GoLdFInGeR]

it’s only just become necessary for parents to help children buy a house.

 

Parents have been helping their children to get on the property ladder since, forever, either with deposits or ongoing assistance. In many cases this was the only way their children could have purchased. It's hardly a new idea. In any case, 2 young people with ok jobs can still buy a property today if they've saved up a deposit. You save up a deposit by sacrificing, many are not willing to do this, they want everything now!

[L00b]

I didn't rent or save untill I wanted an house, my deposit was a couple of monthes wages.

so...you lived where, until then?

 

Not being funny here, but I came to this country in 94 with a beat-up Citroen AX and a suitcase, no network, no parental support, no leg-up...that was then, and whilst things might be a tad more difficult now, they are not insurmountably so, by a long shot. The 90s crises, though smaller of course, were no picnic either.

[ricgem2002]

Parents have been helping their children to get on the property ladder since, forever, either with deposits or ongoing assistance. In many cases this was the only way their children could have purchased. It's hardly a new idea. In any case, 2 young people with ok jobs can still buy a property today if they've saved up a deposit. You save up a deposit by sacrificing, many are not willing to do this, they want everything now!

remind us again of your previous username

[GoLdFInGeR]

remind us again of your previous username

 

What a terrible accusation. But lets say you were right and I had 25 previous user names, would that make my post any less correct? No. thanks.

[MrSmith]

so...you lived where, until then?

 

Not being funny here, but I came to this country in 94 with a beat-up Citroen AX and a suitcase, no network, no parental support, no leg-up...that was then, and whilst things might be a tad more difficult now, they are not insurmountably so, by a long shot. The 90s crises, though smaller of course, were no picnic either.

 

I was in Royal Navy,

 

1994 Average UK house price £68,032 Average UK wage £17,470

 

2009 Average UK house price £224,064 Average UK wage £20,801

Average house price Dec 2012 £238,293, average wage £26500

[Anna B]

I didn't rent or save untill I wanted an house, my deposit was a couple of monthes wages.

My kids have saved and done without many of the things I took for granted, they still can't afford afford the first house I bought.

 

Rent took about 20% of my father’s wage, but rent takes 40% of my daughters wage.

 

Rents soar to record levels

 

First-time buyers in a 'lose-lose' situation as saving for a deposit becomes harder and competition for cheap rentals intensifies

 

I drove a car as does my daughter; I didn't pay such a high percentage of my wage on fuel though.

I went everywhere and did everything, went out drinking, nightclubbing, travelling, holidays, my daughter doesn’t do these thing because they are too expensive and rent takes too much of her money. I could afford an house she can’t.

 

Yes when housing was affordable and just before the property bubble which inflated prices out of the reach of many.

 

I had my cake and ate it, my daughter can't even get the cake to eat, well she could but only with my help, sadly many youngsters don't have parents that can help.

 

It was Margaret Thatcher who first sanctioned the sale of council houses, and many of the people who took advantage then had been paying rent for 20 or 30 years. If the money had been used to build more council houses there wouldn't be the prblem there is today, but again legislation was put in place that disallowed it.

 

The property bubble was funded by banks who wanted to make more money as fast as possible. If mortgages had been restricted to 3 x annual salary, as it was when we first bought, the bubble wouldn't have formed. Instead they began lending silly money, which allowed house prices to rise above and beyond what anyone thought possible.

 

We are all poorer than we were, and this is going to continue. Soon none of us will be able to afford anything more than the bare essentials, and some won't even be able to afford that.

[L00b]

I was in Royal Navy,

good place to be for saving a deposit...if the shore leave antics allowed, that is

1994 Average UK house price £68,032 Average UK wage £17,470

 

2009 Average UK house price £224,064 Average UK wage £20,801

Average house price Dec 2012 £238,293, average wage £26500

To quote your earlier post (after a fashion), if the variation in these averages was consistent across the country (north/south), you'd have a point...but that's far from being the case. The south (and not that much of it, actually) is severely biasing this average, increasingly so.

 

Intresting to note the 25% increase in avg wage in only 3 years, though. B that as it may, again I think that's a southern influence and I wouldn't be surprised to see the northern average stagnating much closer to £21k.

[MrSmith]

It was Margaret Thatcher who first sanctioned the sale of council houses, and many of the people who took advantage then had been paying rent for 20 or 30 years. If the money had been used to build more council houses there wouldn't be the prblem there is today, but again legislation was put in place that disallowed it.

I agree, but the legislation could have been changed any time after 1997.

 

 

 

The property bubble was funded by banks who wanted to make more money as fast as possible. If mortgages had been restricted to 3 x annual salary, as it was when we first bought, the bubble wouldn't have formed. Instead they began lending silly money, which allowed house prices to rise above and beyond what anyone thought possible.

 

The property bubble was orchestrated by Gordon Brown and the Labour party,

They had the power to increase interest rates, they didn't.

They could have given the bank of England the remit to control house prices.

He said he would keep house prices under control.

He also removed housing costs from the inflation figures.

He claimed to have eliminated boom and bust.

They demolished thousands of council houses as well as many private house.

They increased the population by 3,000,000 people but didn’t build houses to accommodate them.

It became profitable for couple to live apart to claim more benefits.

All these things causes the largest property bubble in history which contributed to the banking crisis.

 

 

 

We are all poorer than we were, and this is going to continue. Soon none of us will be able to afford anything more than the bare essentials, and some won't even be able to afford that.

Not everyone is poorer, the property speculators which Gordon Brown encouraged are much better off.

 

---------- Post added 09-04-2013 at 20:19 ----------

 

good place to be for saving a deposit...if the shore leave antics allowed, that is

Fun was more important than saving for an house.

 

To quote your earlier post (after a fashion), if the variation in these averages was consistent across the country (north/south), you'd have a point...but that's far from being the case. The south (and not that much of it, actually) is severely biasing this average, increasingly so.

 

Intresting to note the 25% increase in avg wage in only 3 years, though. B that as it may, again I think that's a southern influence and I wouldn't be surprised to see the northern average stagnating much closer to £21k.

 

I agree but they are reflective of wages and prices here, obviously the average wage and house price is much lower here but the cap was about the same. I know my 3 bed detached house was 2.5 times my income; the same house is now 10 times my daughters income that kind of growth is unsustainable and as made it more difficult for young people to buy an house.