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"The need to find a deposit has almost always existed"
10% of 45kin the 90s was far easier to afford than 10% of 275k that my house is worth today.
My neighbour rents at 200£ a month more than my mortgage, he's given up living a miserable life unable to save as fast as deposits are going up and has decided he's going on holiday... Presumably he should just continue to have been richer younger and be more miserable now.
Also I think graduates become graduates so they don't end up living in south Glasgow because they have just a minimal amount of aspiration.
I’d implement a system whereby any politician who doesn’t answer a simple and direct question is summarily executed. That would leave us with no politicians in short order and we could start from scratch. Can’t count the number of times I’ve been listening to radio 4 whilst driving to work and shouting “just answer the ****ing question”
I'm much more moderate, a flogging would suffice
Houses like the one I grew up in sell for £110-120K; the one my children grew up in is about 3x that.
I took that as you were talking about a 360000 house ie an average house in the uk.
Therr is not a single house within 100 miles of Edinburgh at 120000 i dont think . Nor across great swathes of the uk.
So one policy the Hungarian or polish governments you agree are hard right that is not a tory policy?
One tinsy wafer thin policy? Just one?
Or do you acceot our tory government is pretty much the same as tbe polish and Hungarian ones you accept as hard right?
Housing would be a good start to fixing things as it is one of the biggest problems for a lot of people.
If houses were still as relatively cheap as there were 30 years ago the vast majority would be better off as lower mortgages and lower rent. Who benefits from high house prices other than investors and people inheriting them?
Fixing it could cause chaos with massive negative equity and the whole market may crash and the wider implications could be massive.
Why not start by putting in place an immediate rent cap and fixing it for next 10 years. Rent would in real terms then be coming down and the associated houses would slowly come down too.
They are also paying for civil servants pensions the cost of which has gone up up significantly since 2008
Oh, didn't realise all those civil servants were still on final salary pensions, pretty good benefit to working for civil service.
Therr is not a single house within 100 miles of Edinburgh at 120000 i dont think . Nor across great swathes of the uk.
There are perfectly 'livable' properties in that price limit much closer than 100 miles, if you reset it to where I live, not far off 100 metres. Not houses maybe, but I'd certainly be comfortable in them and you could manage a small family. A fair distance from any sort of aspirational location mind you.
But even at that price point, my multiple friends whose circumstances I freely admit are distorting my overall picture, couldn't afford it as they are maxed out on rent/childcare costs. Theres no room for even 100k property deposits or anything beyond mandatory pension contributions. They're just about surviving but that's it.
Housing would be a good start to fixing things as it is one of the biggest problems for a lot of people.
This is true. I am lucky enough to earn a good living with a salary just shy of £50k. Mrs F only works part time/cover on minimum wage over a few hours. In the next couple of years we will need to move to a three bed house. This simply isn’t possible for us due to house prices. It is a huge concern and something that causes sleepless nights. Once Funk Jr is a bit older and can no longer share a bedroom with his sister I think either him or me and Mrs F will have to use the living room as a bedroom too.
If we’re in this position how the hell are young folk in lower paid jobs supposed to afford ridiculously expensive rents or mortgages. There’s a new build estate around the corner from us and I honestly can’t fathom how people afford to live there and have new cars on their drives.
There is always constant talk of sacrifice and not eating avocados or something equally as trite. The reality is that when home ownership or renting is so far beyond people’s means they just say **** it and buy a coffee or book a holiday. Even saving and living like a monk won’t help and just lead to a miserable existence.
Really pie monster? A place to bring up a family? Ex council flat in a rough estate maybe orperhaos in one of yhe birder towns
Certainly no houses which is what was referred to. Mabe just about at that lomit in the borders for a flat.
Therr is no doubt that in my lifetime property has increased in cost much more than wages have gone up by multiple factors and none of the property i or my parents have owned would i now be affordable for either me or them doing the public service jobs we did
I don't know what a "birder" town is. But Im assuming yeh, defo not an aspirational destination. Also, houses in that bracket, certainly all look like ex-council, but not in any locations I'd choose to live. (I'm looking at Fife btw)
Wait, is that "border"? That makes more sense.
Therr is no doubt that in my lifetime property has increased in cost much more than wages have gone up by multiple factors and none of the property i or my parents have owned would i now be affordable for either me or them doing the public service jobs we did
Completely agree with you here btw. Theres only one reason the house I'm in has been affordable, and that reason is the affordability of housing in my parents generation and the knock on "inherited" benefits that brings.
I took that as you were talking about a 360000 house ie an average house in the uk.
Therr is not a single house within 100 miles of Edinburgh at 120000 i dont think . Nor across great swathes of the uk.
tj, I gave a specific example of the “house” I grew up in at 110-120k. Now we might have a semantic argument about whether Glasgow “four in a blocks” aka cottage flats are actually houses but 3 beds, garden, and your own front door. definitely within 100 miles of Edinburgh, cycling distance to Glasgow city centre, good public transport. G44 postcode if you want to factcheck me - my recollection is you grew up not that far away. But there is similar housing around lots of central Scotland - usually places which are less popular to live (ex mining villages in Falkirk council area, Ayrshire, Lanarkshire) but it exists, and the reason it becomes unpopular is because it becomes “ghetto-ised” when people with “decent” jobs don’t want to live there so a self fulfilling prophecy. It’s always been the case that property prices were not simply about the bricks and mortar cost and people pay more to live in desirable areas, on live somewhere less desirable to afford a bigger house.
The property price problem and the artificial wealth created in our parents generation are only a “problem” if they live too long to pass on the wealth when it’s useful; is a society where people live longer worse - it does have economic upsides for young people like childcare etc even if you only measure on monetary scales? Of course it’s also a problem for those whose forebears didn’t jump on the property owning bandwagon - but that group have aways been shat on in the U.K. so I’m not sure they are worse off than their parents.
funkmaster - how much equity do you have? Something to think about - sell up, move somewhere shit with tiny mortgage and get mortgage free asap. There’s nothing quite as liberating as not having debt hanging over you. We are all suckers to the banks for falling into the borrow more trap.
Nick had a go on your behalf but was clearly stretching to link pension investments in water company which is not the same.
Where do you think pension schemes get the money to pay your pension from if not investing the contributions? Honest question?
“The property price problem and the artificial wealth created in our parents generation are only a “problem” if they live too long to pass on the wealth when it’s useful;“
No it’s a huge problem regardless of how soon they die, because of the inequality. Imagine a world where you could only ever hope to own a house if your parents owned one. Inheritance is already a major source of inequality and it’s only going to get worse.
Isnt it true that people who live in poorer areas have poorer health and receive poorer healthcare die younger and so are not around to provide childcare for their grandchildren
Edited after but not in response to Argee post below
https://www.healthscotland.scot/health-inequalities/impact-of-ill-health/impact-of-deprivation-on-health
Isnt it true that people who live in poorer areas have poorer health and receive poorer healthcare die younger and so are not around to provide childcare for their grandchildren
To be fair, aren't they usually grandparents in their 40s, so still a few years off dying young from poor health 🤣