Arrr Sez I Posted August 17, 2013 Share Posted August 17, 2013 You're not explaining why key indicators in the housing market are entirely counter to your argument that affordability has not changed. It has changed. Why aren't people adapting? The financial numbers don't lie. As we know, most people don't buy a house on their own. Not because they can't, but because they meet a partner, fall in love and want to get a place together. As if 2 University graduates can't afford to buy a decent property from their first jobs. They'd have a joint annual salary of at least £36-£40k. If they have no deposit because they didn't work or blew all their money, no problem, as a joint team with those salaries they'll have a deposit in no time if they rent a room with friends. Those are the facts. If the majority of young people are falling short and your key indicators are showing the problem is a lack of affordability, that's just an excuse. When people are failures, they like to invent excuses to justify it. Link to comment Share on other sites More sharing options...
perplexed Posted August 17, 2013 Share Posted August 17, 2013 What bit of people not even being able to get on the housing ladder do you not understand? Nonsense. It is called a ladder for a reason. You don't start on the middle rung do you? Link to comment Share on other sites More sharing options...
I1L2T3 Posted August 17, 2013 Share Posted August 17, 2013 Nonsense. It is called a ladder for a reason. You don't start on the middle rung do you? I'm not saying you do. I'm saying you have to get on at the bottom. And I'm saying that for more people than ever that simply isn't possible, or even desirable. ---------- Post added 17-08-2013 at 21:59 ---------- The financial numbers don't lie. As we know, most people don't buy a house on their own. Not because they can't, but because they meet a partner, fall in love and want to get a place together. As if 2 University graduates can't afford to buy a decent property from their first jobs. They'd have a joint annual salary of at least £36-£40k. If they have no deposit because they didn't work or blew all their money, no problem, as a joint team with those salaries they'll have a deposit in no time if they rent a room with friends. Those are the facts. If the majority of young people are falling short and your key indicators are showing the problem is a lack of affordability, that's just an excuse. When people are failures, they like to invent excuses to justify it. A few posts ago you were saying a person on £12-15k could afford to buy their own house. Patent nonsense. Now it takes two grads There is a lack of affordability. It's very well documented. In fact the most affordable locations in the UK are in Ulster, where they've had a crash of 50% in house prices and even then the average is still 3.5 times earnings. Link to comment Share on other sites More sharing options...
Badlittlepup Posted August 18, 2013 Share Posted August 18, 2013 One in ten mortgages is now for a buy to let. If a political party said that they were going to create affordable housing they'd be a shoo in. All I care about is improved wages and better cheaper housing, and I think most other people but no political party will touch this. The older generation go out and vote, and there are more of them. They want to see their house prices remain high so anybody under 45 is ***** Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted August 18, 2013 Share Posted August 18, 2013 People are always rattling on about 'affordable housing' but what is that really? If a brick in an expensive house costs 40p, what does a brick in an 'affordable' house cost? How do you make the house more 'affordable'? Skimp on insulation? Use inferior materials? Make the rooms even smaller? British building standards don't compare favourably with those of some other countries already. Do you really want to reduce them? - Or do you expect the people who work building the houses to work for nothing? If you cram 30 houses onto a piece of land big enough for 10, that will bring down the land cost per house - but what will it be like to live there? (And no doubt Mr Pickles will want you to have a wheelie bin cupboard built in.) - (Perhaps you could sub-let that?) Link to comment Share on other sites More sharing options...
Arrr Sez I Posted August 18, 2013 Share Posted August 18, 2013 A few posts ago you were saying a person on £12-15k could afford to buy their own house. Patent nonsense. Now it takes two grads Do I really have to explain this. Ok, just for you. Throughout my posts I have stated that a single person on £12-15k can afford to buy their own house with a small deposit. Backed up by houses available for on right move in Hillsborough given as an example. There are many places you can buy a house as a single person on a low salary. Basic maths proves I am correct. People I know who have done it prove I am correct. As this thread is about young professionals, I have also stated a graduate out of Uni can easily afford to buy a property as they will be on £16-£25k starting minimum, so they will have an even easier time of buying their first starter home. But, as is common knowledge, most people buy their first home as a result of meeting a partner. You understand the concept of two people wanting to share a life together right? Well, that's what they do, they buy a house together because they want to. As a bonus, this makes it far easier to buy a more expensive house straight away should they desire. So if a single grad can easily afford to buy a house on a £16k-£25k salary, what can 2 grads buy on a £40k joint salary. Has the penny dropped? That's right, they can buy a more expensive house. Is there anything else this basic you want me to explain for you? Oh yes, and house prices will always rise long term. Get over it. Link to comment Share on other sites More sharing options...
I1L2T3 Posted August 18, 2013 Share Posted August 18, 2013 Do I really have to explain this. Ok, just for you. Throughout my posts I have stated that a single person on £12-15k can afford to buy their own house with a small deposit. Backed up by houses available for on right move in Hillsborough given as an example. There are many places you can buy a house as a single person on a low salary. Basic maths proves I am correct. People I know who have done it prove I am correct. As this thread is about young professionals, I have also stated a graduate out of Uni can easily afford to buy a property as they will be on £16-£25k starting minimum, so they will have an even easier time of buying their first starter home. But, as is common knowledge, most people buy their first home as a result of meeting a partner. You understand the concept of two people wanting to share a life together right? Well, that's what they do, they buy a house together because they want to. As a bonus, this makes it far easier to buy a more expensive house straight away should they desire. So if a single grad can easily afford to buy a house on a £16k-£25k salary, what can 2 grads buy on a £40k joint salary. Has the penny dropped? That's right, they can buy a more expensive house. Is there anything else this basic you want me to explain for you? Oh yes, and house prices will always rise long term. Get over it. The cheapest house in Hillsborough on Right move is £75k. It needs a lot of work. A person on £12k takes home £900 a month Deposit for £75k house, assuming 5% = £3750 Moving costs on top Mortgage remaining = £71250. 6 times salary! Are you beginning to see the problem? Anyway let's continue... Monthly repayment on 3% mortgage is approx £400. Add utilities, council tax, insurance, property maintanence etc... then you might be lucky to have £200 a month left over. If interest rates went to 7% you have nothing left over. If they go to 12% you can't afford heat or light, never mind food. As for your contrived two kids in Hillsboro example that's nice. But how would they get on in London or other high cost areas? Would your example work? Link to comment Share on other sites More sharing options...
Arrr Sez I Posted August 18, 2013 Share Posted August 18, 2013 The cheapest house in Hillsborough on Right move is £75k. It needs a lot of work. A person on £12k takes home £900 a month Deposit for £75k house, assuming 5% = £3750 Moving costs on top Mortgage remaining = £71250. 6 times salary! Are you beginning to see the problem? Anyway let's continue... Monthly repayment on 3% mortgage is approx £400. Add utilities, council tax, insurance, property maintanence etc... then you might be lucky to have £200 a month left over. If interest rates went to 7% you have nothing left over. If they go to 12% you can't afford heat or light, never mind food. As for your contrived two kids in Hillsboro example that's nice. But how would they get on in London or other high cost areas? Would your example work? The whole point is that you need to save for a deposit. If you're on a low income, either get a bigger deposit or earn more money. That is life. House prices rise, always will, only going to get worse, might as well accept it and put in the effort. The prices on rightmove are ASKING prices, nobody with a brain pays the asking price. Being on a low income isn't something you should aspire to or plan to endure for a lengthy period of time. Do something about it. If you snooze you lose. Someone on a low income can buy a £75k house, they just need a bigger deposit which they will have to raise one way or another but it is very possible if they make sacrifices and work hard like the generations before them. The only reason you have dwelled on this lower bracket is because it's the only way you feel you can cry foul, bleat, moan and whinge. This thread is ultimately about professionals and as i've proven time and time again, housing is very affordable for both a single and professional couple in most areas of this country barring London which is unique. But still possible with hard work. Housing for first time buyers is very affordable. Lending to first time buyers hit its highest level in 6 years. In the second quarter of 2013 68,000 people bought their first home. The average loan size was nearly £120,000. So, still think first time purchase is unaffordable? 68,000+ people already this year must have performed a miracle then eh Oh yes, and it's only going to grow too. Your entire frustration is born from the fact that house prices rise. Imagine those who don't buy, where will they be in 30 years from now. Feeling a lot of pain that's for sure. Link to comment Share on other sites More sharing options...
I1L2T3 Posted August 18, 2013 Share Posted August 18, 2013 The whole point is that you need to save for a deposit. If you're on a low income, either get a bigger deposit or earn more money. That is life. House prices rise, always will, only going to get worse, might as well accept it and put in the effort. The prices on rightmove are ASKING prices, nobody with a brain pays the asking price. Being on a low income isn't something you should aspire to or plan to endure for a lengthy period of time. Do something about it. If you snooze you lose. Someone on a low income can buy a £75k house, they just need a bigger deposit which they will have to raise one way or another but it is very possible if they make sacrifices and work hard like the generations before them. The only reason you have dwelled on this lower bracket is because it's the only way you feel you can cry foul, bleat, moan and whinge. This thread is ultimately about professionals and as i've proven time and time again, housing is very affordable for both a single and professional couple in most areas of this country barring London which is unique. But still possible with hard work. Housing for first time buyers is very affordable. Lending to first time buyers hit its highest level in 6 years. In the second quarter of 2013 68,000 people bought their first home. The average loan size was nearly £120,000. So, still think first time purchase is unaffordable? 68,000+ people already this year must have performed a miracle then eh Oh yes, and it's only going to grow too. Your entire frustration is born from the fact that house prices rise. Imagine those who don't buy, where will they be in 30 years from now. Feeling a lot of pain that's for sure. If a mortgage is cheaper per month than rent then how do people save? How does somebody taking home £900 a month save for a deposit? Not everybody can stay at home with mum and dad. I've got a house already. Paid off. I don't care if it goes up in value. It makes no difference at all to me. I'm more worried about my daughters and sons. As for the increase in buyers it is caused by schemes such as help to buy, which is possibly the most epicly idiotic economic policy for a long time. Link to comment Share on other sites More sharing options...
Mecky Posted August 18, 2013 Share Posted August 18, 2013 If a mortgage is cheaper per month than rent then how do people save? How does somebody taking home £900 a month save for a deposit? Not everybody can stay at home with mum and dad. I've got a house already. Paid off. I don't care if it goes up in value. It makes no difference at all to me. I'm more worried about my daughters and sons. As for the increase in buyers it is caused by schemes such as help to buy, which is possibly the most epicly idiotic economic policy for a long time. I asked him that before, he knows what the answer is as does everyone else. Most people try to better their quality of life and a few don't, that will never change. That's not making excuses on behalf of other people but it's wrong to try and say everyones' circumstances are the same and it's wrong to try and say what other people should do. If you take that line where will it end? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.