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Home ownership
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"I've just been watching a news report and a report by price waterhouse coopers , estimates by 2025 60% of under 40's will be renting .. So has the aspiration of ownership left this generation future generations.?." I dont know if its the aspiration or more the cost. Most of my friends qould rather own than get married. But got married first lol. Me and my husband are on good money but only were able to buy because a relative gave me the deposit xx | |||
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"I've just been watching a news report and a report by price waterhouse coopers , estimates by 2025 60% of under 40's will be renting .. So has the aspiration of ownership left this generation future generations.?." Is it the aspirations that have caused it or just over inflation of house prices. If you look at the profit margins on a house excluding the land it is silly. Houses in some areas are just beyond some people's budget. However look at the rest of the world. What is societies view in other countries? | |||
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"I own a house in upstate NY but couldn't dream of buying my own parents house in NYC. From what I've seen the situation is similar here. So I think people of my generation who want to own homes can do so, but they won't be able to have what there parents had and they will have to compromise quite a bit to get it. Many won't find it worth the compromise. -Courtney "  I've got a lovely house through luck, help and hard work and an enormous mortgage, but I couldn't afford anything even approaching the house I grew up in. And that's in the relatively "affordable" north east. | |||
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"Lots of other countries rent rather than own. They have stricter rules too, that protect the tenants - Germany for one. Lots of Australians rent too. Ours will go that way apart from the upper middle and upper classes unless something is done to stop prices rising well above inflation. If we had better legislation for private landlords and less unscrupulous ones that would help. Sarah " Yes, I had some fabulous rented properties in the Cotswolds in my youth, on the old shorthold registered rent scheme. One was a three bedroom cottage with use of the tennis court, squash court, swimming pool, free stabling for my horse and all for £150 pcm! Oh lordy, lordy those were the days!!  | |||
"The aspiration hasn't. The ability has. " The report featured a couple, both working who were renting and they said it gave them the disposable income to enjoy themselves, holidays and the lifestyle they enjoyed, ... I don't know the numbers it seemed as though they could afford a mortgage , however they'd chosen renting andtheir lifestyle choices..rather than sacrifice those things for a mortgage. | |||
"The aspiration hasn't. The ability has. The report featured a couple, both working who were renting and they said it gave them the disposable income to enjoy themselves, holidays and the lifestyle they enjoyed, ... I don't know the numbers it seemed as though they could afford a mortgage , however they'd chosen renting andtheir lifestyle choices..rather than sacrifice those things for a mortgage. " Depends i guess cause renting is usually more than a mortgage but then you have maintence costs etc. We have much more money since buying xx | |||
"The aspiration hasn't. The ability has. The report featured a couple, both working who were renting and they said it gave them the disposable income to enjoy themselves, holidays and the lifestyle they enjoyed, ... I don't know the numbers it seemed as though they could afford a mortgage , however they'd chosen renting andtheir lifestyle choices..rather than sacrifice those things for a mortgage. " Your repairs should be done so you don't have all the maintenance upkeep costs. Just sometimes rent far outweighs mortgages - will change when interest rates rise. Sarah | |||
" Yes, I had some fabulous rented properties in the Cotswolds in my youth, on the old shorthold registered rent scheme. One was a three bedroom cottage with use of the tennis court, squash court, swimming pool, free stabling for my horse and all for £150 pcm! Oh lordy, lordy those were the days!! "Sounds dreadful - I need one of those types of property. | |||
"Where I'm from people who rent outnumber the homeowners. I am going against the grain and plan to buy a few houses to rent out by the end of next year. Bricks and Mortar is one of the lessons my Dad imparted. " We bought a house to let out last year, so if you need some totally unprofessional advice on on our experience feel free to ask...lol What I would say is, don't rent to someone on benefits. The person isn't the problem, the council is. Every time she farts the council stop her benefits to re-assess them. In 6 months we have had 4 late or partial payments... | |||
"The aspiration hasn't. The ability has. The report featured a couple, both working who were renting and they said it gave them the disposable income to enjoy themselves, holidays and the lifestyle they enjoyed, ... I don't know the numbers it seemed as though they could afford a mortgage , however they'd chosen renting andtheir lifestyle choices..rather than sacrifice those things for a mortgage. Your repairs should be done so you don't have all the maintenance upkeep costs. Just sometimes rent far outweighs mortgages - will change when interest rates rise. Sarah " If interest rates rise, so will rents. People are not going to pay for it out of their pocket, they will pass on the increase. I know I will... | |||
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" If interest rates rise, so will rents. People are not going to pay for it out of their pocket, they will pass on the increase. I know I will..." Do you think they'll rise as much as mortgages though? It depends whether it's a buy to let mortgage I guess. If there's housing benefit involved - that's capped too now - so can only rise to a certain level. Or so I believe. Sarah | |||
"Where I'm from people who rent outnumber the homeowners. I am going against the grain and plan to buy a few houses to rent out by the end of next year. Bricks and Mortar is one of the lessons my Dad imparted. We bought a house to let out last year, so if you need some totally unprofessional advice on on our experience feel free to ask...lol What I would say is, don't rent to someone on benefits. The person isn't the problem, the council is. Every time she farts the council stop her benefits to re-assess them. In 6 months we have had 4 late or partial payments... "Thanks guys | |||
"And apparently 6:30 is when I lose the ability to correctly use spelling and grammar "18:30. | |||
" If interest rates rise, so will rents. People are not going to pay for it out of their pocket, they will pass on the increase. I know I will... Do you think they'll rise as much as mortgages though? It depends whether it's a buy to let mortgage I guess. If there's housing benefit involved - that's capped too now - so can only rise to a certain level. Or so I believe. Sarah " Being honest I will pass on the minimum I can get away with. I would rather have a long term tenant than force people out through rent rises... I don't expect to make any money on the rent but hopefully when it comes time to sell in ten or twenty years or maybe hand it over to our children... | |||
"And apparently 6:30 is when I lose the ability to correctly use spelling and grammar
18:30." | |||
"The aspiration hasn't. The ability has. " Boom. I'll be lucky to be a home owner when I'm 40. Lib HQ is my dream. | |||
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"The situation is quite different depending where you are too. Some places you can still buy a house for half a packet of Skittles and a Curly Whirly." But your job probably only pays half a packet of skittles. And you have to spend all the curly wurlies travelling to get to civilisation. | |||
"The aspiration hasn't. The ability has. " I'd disagree. It's never been easy to buy a house. My parents worked their arses off, scrimped and saved and cut back all over the place to buy. It's all relative. My aspiration to buy hasn't dwindled. I'm waiting on exchange of contracts. I'm buying a 2 bedroom maisonette all on my own. | |||
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"The aspiration hasn't. The ability has. I'd disagree. It's never been easy to buy a house. My parents worked their arses off, scrimped and saved and cut back all over the place to buy. It's all relative. My aspiration to buy hasn't dwindled. I'm waiting on exchange of contracts. I'm buying a 2 bedroom maisonette all on my own. " It depends on individual circumstances, I'm not keen on shared ownership etc. I think it's quite hard to buy a house at the moment | |||
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"when i bought my house i was working as a motor mechanic, yes it was a struggle but we managed this was back in the 80's when the interest rate was an eye watering 12% . " and a house cost about £20k  | |||
"I'm lucky, I have a house and I've paid the mortgage off quickly. Most people aren't this lucky. The very much up and coming comedian Peter Brush puts it best: 'When I was a kid, playing Monopoly was all about travelling around the board and buying property. In real life, the past generations have already bought it all. So instead, you have to stay in the game long enough for one of your grand parents to die....' " | |||
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"The aspiration hasn't. The ability has. " Not true, when we bought our first house it costs £40,000 I earned the most and was bringing home under 6000, 11,0000 between us. My son says it's not possible but between him and his partner they bring in over 40,000 and crap houses like we started in are 110,000 around here. So the money is proportionally about the same, but they can't live without fancy phone contracts sky TV and other expenses we lived without to get started. only took 5 years of pain, once on the road we had the luxuries and I now own several houses. | |||
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"The aspiration hasn't. The ability has. Not true, when we bought our first house it costs £40,000 I earned the most and was bringing home under 6000, 11,0000 between us. My son says it's not possible but between him and his partner they bring in over 40,000 and crap houses like we started in are 110,000 around here. So the money is proportionally about the same, but they can't live without fancy phone contracts sky TV and other expenses we lived without to get started. only took 5 years of pain, once on the road we had the luxuries and I now own several houses. " I bought somewhere that was adequate for our needs at the time, rather than "the ideal" property. There's also the expectation to fully furnish with all new furniture & fittings whereas I had a relatives 3 piece suite, and furniture which was in the main bought from relatives who were buying new, and at first the place was a bit sparse. First TV was bought from Radio Rentals as they were closing up - it was new, but so much cheaper than the equivalent in Dixons/Currys  | |||
"when i bought my house i was working as a motor mechanic, yes it was a struggle but we managed this was back in the 80's when the interest rate was an eye watering 12% . and a house cost about £20k "That depends on where and when. From 1987 prices went bonkers. | |||
"The aspiration hasn't. The ability has. Not true, when we bought our first house it costs £40,000 I earned the most and was bringing home under 6000, 11,0000 between us. My son says it's not possible but between him and his partner they bring in over 40,000 and crap houses like we started in are 110,000 around here. So the money is proportionally about the same, but they can't live without fancy phone contracts sky TV and other expenses we lived without to get started. only took 5 years of pain, once on the road we had the luxuries and I now own several houses. " . That's not true as a whole either, it's just a personal example. The fact is if you look at average house prices over the last 40 years they've far exceeded the average wage!. As a hobby I read financial and economic books, it's not my profession but from what I can gather there's three problems we've faced since 07. Too much debt Too much credit And not enough leverage Bearing those things in mind, what we're seeing is a long term asset bubble that's job is to increase leverage, if you think about the problem with the banks they're got liquidity from QE but basically there balance sheets are still wank, so you have to bump up that by increasing assets which are usually held by the bank?. There now trapped in low interest rates for years maybe decades because they know you can't raise them without a massive wage inflation pressure, Europe is full of ZIRP and NIRP, Japan's been NIRP for awhile and now offer 100 year mortgages!. Sure yellen has slapped on the massive 25 point rise in the US and might add another 25 points in the summer but that's only so they can drop them to ZIRP come xmas, everybody in the industry knows those interest rates aren't going anywhere!. So we're stuck in this weird place with 0% interest rates causing asset price inflation and at the same time falling productivity causing low wage growth and because asset inflation is a terribly unproductive thing, it's no big mystery despite Osbourne's declarations!. As with all bubbles, the real question is when will it stop or will it pop, but let's face facts no average wage is buying an average price house anytime soon! And despite gov bollocks of affordable housing and yadda yadda yadda... If they could build cheap houses they wouldn't be giving out 40% government deposits in London, I mean 200 thousand pound deposits for first time buyers... Were like the Mafia, sure you canna lenda da money bud next Tuesday we take yer liver if yer Donna pay up kapish! Even rent is outstripping wage growth so that's just the next housing | |||
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"when i bought my house i was working as a motor mechanic, yes it was a struggle but we managed this was back in the 80's when the interest rate was an eye watering 12% . and a house cost about £20k "As I said in my earlier post it's all relative. | |||
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"I wouldn't worry too much. The housing market is a bubble being kept afloat by artificially low interest rates. Just wait until the bubble pops. Houses will become a whole lot more affordable then. " . Yeah but when it pops the last thing on your mind will be buying a house!. You'll be far too busy eking food from tesco bins | |||
"I wouldn't worry too much. The housing market is a bubble being kept afloat by artificially low interest rates. Just wait until the bubble pops. Houses will become a whole lot more affordable then. " Too many people have too much invested for that to happen any time soon. It would need something radical to happen, like leaving the EU.. | |||
"I wouldn't worry too much. The housing market is a bubble being kept afloat by artificially low interest rates. Just wait until the bubble pops. Houses will become a whole lot more affordable then. Too many people have too much invested for that to happen any time soon. It would need something radical to happen, like leaving the EU.. " . Your thinking to simplistic! Everything's interconnected, when rbs goes down so does Deutsche bank and BNP and credit Susie and Goldman Sachs and HSBC! Only the other week there was a story about cash flight from Italian and German banks to French ones... Like the Italians and Germans think it's safer in France?. Europe the US, China, India, Australia, Japan they've all bailed there banks and there all following each other, when one QEs the next month the other follows, one drops interest to NIRP the others follow, Christ yellen pushed it up 25 points and the stock market crashed for a week globally!! | |||
"I wouldn't worry too much. The housing market is a bubble being kept afloat by artificially low interest rates. Just wait until the bubble pops. Houses will become a whole lot more affordable then. Too many people have too much invested for that to happen any time soon. It would need something radical to happen, like leaving the EU.. . Your thinking to simplistic! Everything's interconnected, when rbs goes down so does Deutsche bank and BNP and credit Susie and Goldman Sachs and HSBC! Only the other week there was a story about cash flight from Italian and German banks to French ones... Like the Italians and Germans think it's safer in France?. Europe the US, China, India, Australia, Japan they've all bailed there banks and there all following each other, when one QEs the next month the other follows, one drops interest to NIRP the others follow, Christ yellen pushed it up 25 points and the stock market crashed for a week globally!!" come on it's almost midnight 
I agree. The financial system is built on a bed of lies and unintended promises. But it'll take something major to break that bed. | |||
"I wouldn't worry too much. The housing market is a bubble being kept afloat by artificially low interest rates. Just wait until the bubble pops. Houses will become a whole lot more affordable then. Too many people have too much invested for that to happen any time soon. It would need something radical to happen, like leaving the EU.. . Your thinking to simplistic! Everything's interconnected, when rbs goes down so does Deutsche bank and BNP and credit Susie and Goldman Sachs and HSBC! Only the other week there was a story about cash flight from Italian and German banks to French ones... Like the Italians and Germans think it's safer in France?. Europe the US, China, India, Australia, Japan they've all bailed there banks and there all following each other, when one QEs the next month the other follows, one drops interest to NIRP the others follow, Christ yellen pushed it up 25 points and the stock market crashed for a week globally!! come on it's almost midnight
I agree. The financial system is built on a bed of lies and unintended promises. But it'll take something major to break that bed.". So your thinking what I'm thinking?.... A world wide red wine shortage.. maybe compounded by a lack of Jaffa cakes. | |||
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"What??? A jaffa cake shortage!!!! Noooooo...." . Don't panic I'm just joking... Honest... Have a beer,kick back, watch some of this marvellous TV we offer... Look the voice is on and the lottery... Nobody panic | |||
"Where I'm from people who rent outnumber the homeowners. I am going against the grain and plan to buy a few houses to rent out by the end of next year. Bricks and Mortar is one of the lessons my Dad imparted. We bought a house to let out last year, so if you need some totally unprofessional advice on on our experience feel free to ask...lol What I would say is, don't rent to someone on benefits. The person isn't the problem, the council is. Every time she farts the council stop her benefits to re-assess them. In 6 months we have had 4 late or partial payments... "Not everyone is like that! I know people on housing benefit in private rented accommodation, she gave the council permission to pay the landlord directly. Leaving her out of it. Much better scenario. Renting to people on benefits doing it the way I just described is guaranteed money and not everyone on benefits are scummy people so your house will get looked after and appreciated more. My friend knows how lucky she is. I owned my home. I was able too because my parents remortgaged their house so I could buy mine. I still have a mortgage though because my home is more expensive then theirs. Still it's two houses, one mortgage which I pay. My inheritance come early my dad said. Cheers lol | |||
"What??? A jaffa cake shortage!!!! Noooooo...." LOL. Does anyone remember the lemon and lime flavour jaffa cakes? | |||
"What??? A jaffa cake shortage!!!! Noooooo.... LOL. Does anyone remember the lemon and lime flavour jaffa cakes? " Yes! I think I prefer those over your standard orange ones. They sell them as limited edition around Halloween ("Lemon and Slime" flavour is how they brand them)... I bought a load ready for the trick or treaters who came to the door last year, although I probably ate most of them... I am the owner of said door by the way (well, I have a mortgage on my home). Thought I'd better add that to kinda stay with the main topic! | |||
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"People who can afford to buy should.. that way there would be rentable properties for those that can't afford to buy.. I count people paying over 1k a month on rent, capable of getting a mortgage. Obviously there will be a few circumstances that wouldn't suit the above." So I pay almost that much on rent with my partner. To buy the same house would cost around £1900 a month in mortgage. And that's not unusual certainly with larger properties. Once you go over two bedrooms you really pay very little per extra bedroom when you're renting, because large rental houses aren't desireable. I paid £650 a month for a one bedroom flat just 400m from where I now live in a five bedroom / three reception / two garden house for just £300pcm more. And not everyone suits buying a house, even on big wages. My partner is a contractor for example. He could move to a different part of the country or even another country for work. What should we do - sell our house every year to buy a new one? And that's not unusual either. Remember just a few years ago that local government made all the senior staff redundant to cut pension bills and hired them back as contractors? More and more people are contracting now in the higher paid jobs, which means an inherent instability to their lives. If anything we are struggling to find properties with the space we need on the rental market. Everything is cut down into tiny flats in order to make the most money. Why rent a five bedroom house for £950 when you could turn it into three one bedroom flats and rent it for £1950 a month? | |||
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"I own a house in upstate NY but couldn't dream of buying my own parents house in NYC. From what I've seen the situation is similar here. So I think people of my generation who want to own homes can do so, but they won't be able to have what there parents had and they will have to compromise quite a bit to get it. Many won't find it worth the compromise. -Courtney I've got a lovely house through luck, help and hard work and an enormous mortgage, but I couldn't afford anything even approaching the house I grew up in. And that's in the relatively "affordable" north east. "The two houses I grew up in were terrace houses in Battersea and Clapham in South London. The Battersea house last sold for £1.5m the Clapham house turned into two flats and one last sold for £750k. The house my parents moved to in Preston last sold for £78k! I'll be selling my London house and heading north, more value for money. | |||
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"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want." Some people have never had the relative luxury of social housing rent costs though. If I could get a housing association flat i'd rather do that than pouring my cash into my home, but i'm not eligible an I suspect i'm not alone! | |||
"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want. Some people have never had the relative luxury of social housing rent costs though. If I could get a housing association flat i'd rather do that than pouring my cash into my home, but i'm not eligible an I suspect i'm not alone!" sore point with me...lovely new houses and flats build recently very energy efficient but you couldn't secure one as full of junkies etc... now but it guarantees the house association their rents but some of the houses now look a state as trashed | |||
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"House prices are extortionate in the south east especially Oxford But we have both worked hard over the past few years no luxuries as such batch cooked dinners & frozen them down ,buy lots of meat & Xmas & Easter when it's half price & freeze down And the end result we move into our new house in around 8 weeks with the help to buy scheme We have rented for 8 years which was basically £70k down the drain , but we had to live somewhere , so hard work , 2 jobs and it's doable even in the south east " That's why although I study in Oxford, I chose to live in Banbury. I commute to uni and my partner commutes to London. Prices are a third of the price of Oxford in many cases. | |||
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"Where I'm from people who rent outnumber the homeowners. I am going against the grain and plan to buy a few houses to rent out by the end of next year. Bricks and Mortar is one of the lessons my Dad imparted. We bought a house to let out last year, so if you need some totally unprofessional advice on on our experience feel free to ask...lol What I would say is, don't rent to someone on benefits. The person isn't the problem, the council is. Every time she farts the council stop her benefits to re-assess them. In 6 months we have had 4 late or partial payments...
Not everyone is like that! I know people on housing benefit in private rented accommodation, she gave the council permission to pay the landlord directly. Leaving her out of it. Much better scenario. Renting to people on benefits doing it the way I just described is guaranteed money and not everyone on benefits are scummy people so your house will get looked after and appreciated more. My friend knows how lucky she is.
I owned my home. I was able too because my parents remortgaged their house so I could buy mine. I still have a mortgage though because my home is more expensive then theirs. Still it's two houses, one mortgage which I pay. My inheritance come early my dad said. Cheers lol "It's the council that are late in playing, not the tenant... | |||
"You all talk like it's a choice. I Have to rent, I can't afford to buy." The couple featured in the article ...I'd guess might have afforded the mortgage if they'd sacrifice the holidays etc, I was wondering if the future generations have the aspiration to own, I realise there's lots of folk of my generation that would like to for various reasons are unable to. More a question about the changing attitudes to home ownership... if any | |||
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" What I would say is, don't rent to someone on benefits. The person isn't the problem, the council is. Every time she farts the council stop her benefits to re-assess them. In 6 months we have had 4 late or partial payments... "I've rented to a low income single mum on benefits, the rent for 2 years from the council was always prompt. She was then given a council property and moved out. I'm a very fair landlord (lady) and make repairs and upgrades as soon as I'm asked. Current tenants have been there 4years now and just had the first rent increase. | |||
"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want." You think you can buy two houses for £117,000 in the north? Good luck with that. You may get two houses which need immense amounts of work, in an ex-pit village with no jobs and crap transport links but other than that... | |||
"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want. You think you can buy two houses for £117,000 in the north? Good luck with that. You may get two houses which need immense amounts of work, in an ex-pit village with no jobs and crap transport links but other than that..." yes you can get 4 houses for that don,t forget us northerner,s all have flat caps and whippets keep coal in the bath that,s what southerner,s think were all about | |||
"I'm a very fair landlord (lady) and make repairs and upgrades as soon as I'm asked. Current tenants have been there 4years now and just had the first rent increase. " I am a fair landlord, housing stock is kept well maintained, and rents are slightly below average for the area for any tenant that is there for 12 months and not late with the rent. I don't mind where the money comes from, benefits are fine as long as it gets paid. and the house is treated fairly. My biggest worry is what happens to my good and long term tenants when I die. That is where the private landlord scheme fails I think. Hopefully one day we will have a socially aware government who will build council houses where nobody takes the profits and rent surpluses build new homes. Then people like me won't be needed. | |||
"yes you can get 4 houses for that don,t forget us northerner,s all have flat caps and whippets keep coal in the bath that,s what southerner,s think were all about " Bugger, I got it wrong and kept my whippets in the bath. | |||
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"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want. You think you can buy two houses for £117,000 in the north? Good luck with that. You may get two houses which need immense amounts of work, in an ex-pit village with no jobs and crap transport links but other than that..." i just looked .... there's thousands of listings in the north east alone. Properties which seem to be clean and modern in city locations and further out. There are properties for as little as £10,000 that need some attention but on the face of it £10-£20 grand on improvements and you got a showhome. | |||
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"I own a house in upstate NY but couldn't dream of buying my own parents house in NYC. From what I've seen the situation is similar here. So I think people of my generation who want to own homes can do so, but they won't be able to have what there parents had and they will have to compromise quite a bit to get it. Many won't find it worth the compromise. -Courtney I've got a lovely house through luck, help and hard work and an enormous mortgage, but I couldn't afford anything even approaching the house I grew up in. And that's in the relatively "affordable" north east. "You would be surprised,moved here from Southampton 12 yr ago....the house prices in Newcastle are way higher than Southampton | |||
"I wouldn't worry too much. The housing market is a bubble being kept afloat by artificially low interest rates. Just wait until the bubble pops. Houses will become a whole lot more affordable then. Too many people have too much invested for that to happen any time soon. It would need something radical to happen, like leaving the EU.. . Your thinking to simplistic! Everything's interconnected, when rbs goes down so does Deutsche bank and BNP and credit Susie and Goldman Sachs and HSBC! Only the other week there was a story about cash flight from Italian and German banks to French ones... Like the Italians and Germans think it's safer in France?. Europe the US, China, India, Australia, Japan they've all bailed there banks and there all following each other, when one QEs the next month the other follows, one drops interest to NIRP the others follow, Christ yellen pushed it up 25 points and the stock market crashed for a week globally!!" The problem is there is very little left in central bankers tool kits. The jitters in world stock markets at the start of this year is an indicator ofbthe problems building. I am not saying house prices will collapse but a fall of 20 to 30% is feasable. Hope that explanation is a little less 'simplistic' | |||
"I am not saying house prices will collapse but a fall of 20 to 30% is feasable. Hope that explanation is a little less 'simplistic'" Extremely unlikely, people just won't sell, and last time it dropped lower bracket prices still increased at 5% a year instead of 10% | |||
"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want. You think you can buy two houses for £117,000 in the north? Good luck with that. You may get two houses which need immense amounts of work, in an ex-pit village with no jobs and crap transport links but other than that..." My son and his ex moved to Liverpool and in the lettings agency, there were houses to buy at £30-35,000 so a few years ago yes | |||
"I wouldn't worry too much. The housing market is a bubble being kept afloat by artificially low interest rates. Just wait until the bubble pops. Houses will become a whole lot more affordable then. Too many people have too much invested for that to happen any time soon. It would need something radical to happen, like leaving the EU.. . Your thinking to simplistic! Everything's interconnected, when rbs goes down so does Deutsche bank and BNP and credit Susie and Goldman Sachs and HSBC! Only the other week there was a story about cash flight from Italian and German banks to French ones... Like the Italians and Germans think it's safer in France?. Europe the US, China, India, Australia, Japan they've all bailed there banks and there all following each other, when one QEs the next month the other follows, one drops interest to NIRP the others follow, Christ yellen pushed it up 25 points and the stock market crashed for a week globally!! The problem is there is very little left in central bankers tool kits. The jitters in world stock markets at the start of this year is an indicator ofbthe problems building. I am not saying house prices will collapse but a fall of 20 to 30% is feasable. Hope that explanation is a little less 'simplistic'" . Lol sorry I wasn't being funny, I just meant it's not a case of one thing simple!. House price is increasing in the USA, in France, Sweden, Australia... Practically everywhere except countries like Spain where you saw a huge over shoot of building compared to customers. Asset bubbles are intrinsic to low interest as capital looks for returns, which like I say is they think is great because it increases banks leverages as mortgages are held with the bank... But that's the problem with a housing crash now, deleveraging the banks will lead to bank failure and there all interconnected, hence why the housing crash in America bankrupted rbs. So there we are stuck with massively overpriced property for decades or the alterative failed banks. It's not called a rock and a hard place for nothing. Very few people who've bought to rent out own the property, they've simply used rising asset prices to collateralise against the next property, so in reality it's feeding the price increase that it needs... it's a domino scheme, knock one and they all fall over. When mentioning politics many people will fall over themselves to mention gov debt but very rarely even think about private debt which is ten fold | |||
"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want. You think you can buy two houses for £117,000 in the north? Good luck with that. You may get two houses which need immense amounts of work, in an ex-pit village with no jobs and crap transport links but other than that... My son and his ex moved to Liverpool and in the lettings agency, there were houses to buy at £30-35,000 so a few years ago yes" again, i just looked at liverpool and there's pages of properties for £60,000 no work needed very presentable. at the bottom end there are properties for £17,000 that need work but £15,000 later and you got a good home. | |||
"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want. You think you can buy two houses for £117,000 in the north? Good luck with that. You may get two houses which need immense amounts of work, in an ex-pit village with no jobs and crap transport links but other than that... My son and his ex moved to Liverpool and in the lettings agency, there were houses to buy at £30-35,000 so a few years ago yes again, i just looked at liverpool and there's pages of properties for £60,000 no work needed very presentable. at the bottom end there are properties for £17,000 that need work but £15,000 later and you got a good home." So Price Waterhouse licked their finger and stuck it in the air. Any young people who really want to own can do...just use your initiative and lower your sights and do it with a pattner. I started in 1985 with a 2 bed coownership flat....just do it and remember you salary will go up. Just a point. The entry of more women into the workplace went straight into houseprices. | |||
"Where I'm from people who rent outnumber the homeowners. I am going against the grain and plan to buy a few houses to rent out by the end of next year. Bricks and Mortar is one of the lessons my Dad imparted. We bought a house to let out last year, so if you need some totally unprofessional advice on on our experience feel free to ask...lol What I would say is, don't rent to someone on benefits. The person isn't the problem, the council is. Every time she farts the council stop her benefits to re-assess them. In 6 months we have had 4 late or partial payments...
Not everyone is like that! I know people on housing benefit in private rented accommodation, she gave the council permission to pay the landlord directly. Leaving her out of it. Much better scenario. Renting to people on benefits doing it the way I just described is guaranteed money and not everyone on benefits are scummy people so your house will get looked after and appreciated more. My friend knows how lucky she is.
I owned my home. I was able too because my parents remortgaged their house so I could buy mine. I still have a mortgage though because my home is more expensive then theirs. Still it's two houses, one mortgage which I pay. My inheritance come early my dad said. Cheers lol
It's the council that are late in playing, not the tenant..."Not really no. If they're late it's only because that particular tenant has issues the council are investigating before using tax payers money to pay their rent. Fair enough I say . Long as the tenant is entitled, the council will always pay their housing rent benefit. On a different note,I've seen a whole Street up north somewhere, we're being sold for a £1 per house. I work in the construction industry and I as well as work colleagues, knows if you're a tradesman or know someone who is, those cheap houses will be a good investment. Won't cost a fortune to do up due to free/cheap labour , materials will be cheaper due to discounts etc so it's not impossible. Everywhere has its good and bad areas. So prices will differ either way. However it's a fact london the south, southwest and southeast are the most expensive areas to live in the UK. Sandbanks , Dorset (southwest) by per square foot, is the third most expensive place in the world to live. Crazy prices but people will continue to charge whatever the going market is. Well you'd be rather silly not to. | |||
"I'm a very fair landlord (lady) and make repairs and upgrades as soon as I'm asked. Current tenants have been there 4years now and just had the first rent increase. I am a fair landlord, housing stock is kept well maintained, and rents are slightly below average for the area for any tenant that is there for 12 months and not late with the rent. I don't mind where the money comes from, benefits are fine as long as it gets paid. and the house is treated fairly. My biggest worry is what happens to my good and long term tenants when I die. That is where the private landlord scheme fails I think. Hopefully one day we will have a socially aware government who will build council houses where nobody takes the profits and rent surpluses build new homes. Then people like me won't be needed." You sound like a lovely landlady. Need more like you around. | |||
"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want. You think you can buy two houses for £117,000 in the north? Good luck with that. You may get two houses which need immense amounts of work, in an ex-pit village with no jobs and crap transport links but other than that... My son and his ex moved to Liverpool and in the lettings agency, there were houses to buy at £30-35,000 so a few years ago yes again, i just looked at liverpool and there's pages of properties for £60,000 no work needed very presentable. at the bottom end there are properties for £17,000 that need work but £15,000 later and you got a good home." . Why don't you look in Albania you can pick two reasonable ones up, no work needed, for a grand a piece!. Yeah so buying into the housing market in Liverpool, yeah it sounds good, however jobs will be lower paid, and it might not really be where you wanna live (miles from friends or family) that's a bit tough if you've got small kids as your increasing your expenditure on babysitters and nursery!, it could be that your working 50 miles from there and spending a 100 quid a week commuting, again that's a little more expenditure, the schools could be good awful and access to services could be woeful again adding more expenditure... But the truth is, even if you buy into the housing market in Liverpool at 60k... The average house price elsewhere is 187k houses tend to go up on % terms so a 10% increase leaves you were... In Liverpool later on, it's always moving away from you.. Your house goes up 6k the others go up 18k. In my mind what we do is talk about housing as a social need but it's actually just another commodity that's being used to make profit. So if you really really wanna insist on housing being housing, you really need to take the profit out of the equation and the easiest way to do that is apply capital gains tax on profit across the board with no exception! | |||
"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want. You think you can buy two houses for £117,000 in the north? Good luck with that. You may get two houses which need immense amounts of work, in an ex-pit village with no jobs and crap transport links but other than that... My son and his ex moved to Liverpool and in the lettings agency, there were houses to buy at £30-35,000 so a few years ago yes again, i just looked at liverpool and there's pages of properties for £60,000 no work needed very presentable. at the bottom end there are properties for £17,000 that need work but £15,000 later and you got a good home.. Why don't you look in Albania you can pick two reasonable ones up, no work needed, for a grand a piece!. Yeah so buying into the housing market in Liverpool, yeah it sounds good, however jobs will be lower paid, and it might not really be where you wanna live (miles from friends or family) that's a bit tough if you've got small kids as your increasing your expenditure on babysitters and nursery!, it could be that your working 50 miles from there and spending a 100 quid a week commuting, again that's a little more expenditure, the schools could be good awful and access to services could be woeful again adding more expenditure... But the truth is, even if you buy into the housing market in Liverpool at 60k... The average house price elsewhere is 187k houses tend to go up on % terms so a 10% increase leaves you were... In Liverpool later on, it's always moving away from you.. Your house goes up 6k the others go up 18k. In my mind what we do is talk about housing as a social need but it's actually just another commodity that's being used to make profit. So if you really really wanna insist on housing being housing, you really need to take the profit out of the equation and the easiest way to do that is apply capital gains tax on profit across the board with no exception!" might, could, possibly? you're speculating again. there's good jobs in liverpool these days now derek hattons gone. there's loads of gaffs there around the £35G mark which are pristeen after recent refurbishment under the european funding scheme. the transport infrastructure is good and services are good. i only mentioned liverpool in response to someone elses comment by the way. | |||
"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want. You think you can buy two houses for £117,000 in the north? Good luck with that. You may get two houses which need immense amounts of work, in an ex-pit village with no jobs and crap transport links but other than that... My son and his ex moved to Liverpool and in the lettings agency, there were houses to buy at £30-35,000 so a few years ago yes again, i just looked at liverpool and there's pages of properties for £60,000 no work needed very presentable. at the bottom end there are properties for £17,000 that need work but £15,000 later and you got a good home.. Why don't you look in Albania you can pick two reasonable ones up, no work needed, for a grand a piece!. Yeah so buying into the housing market in Liverpool, yeah it sounds good, however jobs will be lower paid, and it might not really be where you wanna live (miles from friends or family) that's a bit tough if you've got small kids as your increasing your expenditure on babysitters and nursery!, it could be that your working 50 miles from there and spending a 100 quid a week commuting, again that's a little more expenditure, the schools could be good awful and access to services could be woeful again adding more expenditure... But the truth is, even if you buy into the housing market in Liverpool at 60k... The average house price elsewhere is 187k houses tend to go up on % terms so a 10% increase leaves you were... In Liverpool later on, it's always moving away from you.. Your house goes up 6k the others go up 18k. In my mind what we do is talk about housing as a social need but it's actually just another commodity that's being used to make profit. So if you really really wanna insist on housing being housing, you really need to take the profit out of the equation and the easiest way to do that is apply capital gains tax on profit across the board with no exception! might, could, possibly? you're speculating again. there's good jobs in liverpool these days now derek hattons gone. there's loads of gaffs there around the £35G mark which are pristeen after recent refurbishment under the european funding scheme. the transport infrastructure is good and services are good. i only mentioned liverpool in response to someone elses comment by the way." . No I'm not denying there's good gaffs there, there's good gaffs in Albania, my point was not everybody wants to live in Liverpool for various reasons (hence the speculation) | |||
" Yeah so buying into the housing market in Liverpool, yeah it sounds good, however jobs will be lower paid, and it might not really be where you wanna live (miles from friends or family) that's a bit tough if you've got small kids as your increasing your expenditure on babysitters and nursery!, it could be that your working 50 miles from there and spending a 100 quid a week commuting, again that's a little more expenditure, the schools could be good awful and access to services could be woeful again adding more expenditure... But the truth is, even if you buy into the housing market in Liverpool at 60k... The average house price elsewhere is 187k houses tend to go up on % terms so a 10% increase leaves you were... In Liverpool later on, it's always moving away from you.. Your house goes up 6k the others go up 18k." But then again... there are plenty of people who work for themselves, work from home, telecommute, don't have kids, don't have any desire to be near family because we have the internet and phones, etc. And these low house prices are great for us. | |||
"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want. You think you can buy two houses for £117,000 in the north? Good luck with that. You may get two houses which need immense amounts of work, in an ex-pit village with no jobs and crap transport links but other than that... i just looked .... there's thousands of listings in the north east alone. Properties which seem to be clean and modern in city locations and further out. There are properties for as little as £10,000 that need some attention but on the face of it £10-£20 grand on improvements and you got a showhome." I live in Newcastle, and there is no house you can buy for £10k in the city that is anywhere you would ever conceivably want to live in a million years. | |||
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"perhaps snobbery is the problem then" Aye, definitely. Nothing to do with personal safety, ability to get a job, transport links, being able to get a mortgage on the property at all (lenders won't touch some things with a barge pole) or having any quality of life whatsoever. | |||
" Yeah so buying into the housing market in Liverpool, yeah it sounds good, however jobs will be lower paid, and it might not really be where you wanna live (miles from friends or family) that's a bit tough if you've got small kids as your increasing your expenditure on babysitters and nursery!, it could be that your working 50 miles from there and spending a 100 quid a week commuting, again that's a little more expenditure, the schools could be good awful and access to services could be woeful again adding more expenditure... But the truth is, even if you buy into the housing market in Liverpool at 60k... The average house price elsewhere is 187k houses tend to go up on % terms so a 10% increase leaves you were... In Liverpool later on, it's always moving away from you.. Your house goes up 6k the others go up 18k. But then again... there are plenty of people who work for themselves, work from home, telecommute, don't have kids, don't have any desire to be near family because we have the internet and phones, etc. And these low house prices are great for us." . That's great, sell up in expensive Oxford and head to that shit hole in Liverpool then?. Nah thought not... You mean other people can live there, yep I suppose they could, it's no skin off my nose, I live in a very nice house that's all paid for, which I could sell and walk away with tens of thousands profit just because I was lucky enough to buy in 1996... Sure I'd have to move into a cardboard box with the kids and all but hey that's capitalism kids... Or I could just have a house that's slightly more expensive than when I bought it as in reality I bought it to like home my family, so why do I need profit, I bought a van to get from A to B.. It has a purpose, I didn't buy it for profit!. So if we took the big profit out of housing and made it, well just housing, I'd still buy it as I had need, I'd still paint it and do diy, I'd still build extensions as and when required. Who loses, not anybody buying a house as a house just people seeking return on capital and quite frankly who knows that capital could be put to better use, maybe creating business or jobs or I dunno building wind turbines!. | |||
" Yeah so buying into the housing market in Liverpool, yeah it sounds good, however jobs will be lower paid, and it might not really be where you wanna live (miles from friends or family) that's a bit tough if you've got small kids as your increasing your expenditure on babysitters and nursery!, it could be that your working 50 miles from there and spending a 100 quid a week commuting, again that's a little more expenditure, the schools could be good awful and access to services could be woeful again adding more expenditure... But the truth is, even if you buy into the housing market in Liverpool at 60k... The average house price elsewhere is 187k houses tend to go up on % terms so a 10% increase leaves you were... In Liverpool later on, it's always moving away from you.. Your house goes up 6k the others go up 18k. But then again... there are plenty of people who work for themselves, work from home, telecommute, don't have kids, don't have any desire to be near family because we have the internet and phones, etc. And these low house prices are great for us.. That's great, sell up in expensive Oxford and head to that shit hole in Liverpool then?. Nah thought not... You mean other people can live there, yep I suppose they could, it's no skin off my nose, I live in a very nice house that's all paid for, which I could sell and walk away with tens of thousands profit just because I was lucky enough to buy in 1996... Sure I'd have to move into a cardboard box with the kids and all but hey that's capitalism kids... Or I could just have a house that's slightly more expensive than when I bought it as in reality I bought it to like home my family, so why do I need profit, I bought a van to get from A to B.. It has a purpose, I didn't buy it for profit!. So if we took the big profit out of housing and made it, well just housing, I'd still buy it as I had need, I'd still paint it and do diy, I'd still build extensions as and when required. Who loses, not anybody buying a house as a house just people seeking return on capital and quite frankly who knows that capital could be put to better use, maybe creating business or jobs or I dunno building wind turbines!. " ... or communities | |||
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"In fairness to the current Government they are doing a lot for first time buyers. I currently have a help2buy ISA which allows me to put £200 away a month and get £50 off my first home. The max saving is £3k if I put £12k away albeit I wouldn't want to wait that long. If I had a partner they could do the same meaning couples can double up assuming both first time buyers. Additionally the Housing bill, assuming it passes, will enable me to buy a property up to £250k and get 20% off the same. I'm fortunate that I earn a city wage in a rural ish location. Hopefully I should be able to purchase a good size property without paying stupid money for the same " why should the government help anyone buy a house,its not their money,it comes from our tax revenue,including people like me who neither wanted,or needed help buying a house? | |||
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" That's great, sell up in expensive Oxford and head to that shit hole in Liverpool then?. Nah thought not... " Actually I don't have a choice about where I live right now, because I'm at university in Oxford. But we are almost certainly going to look to move further North in a couple of years time when I finish my education. Most likely to somewhere between Birmingham / Leeds / Liverpool. So yeah, I would live there. I don't think Liverpool is a shit hole. Not when I've visited anyway - and I visit fairly often because my main client is just down the road. (Also I don't own a house in Oxford, I rent a reasonably priced house in Banbury at a third of the price... so next time, don't be so fucking rude.) | |||
"Communities aren't built with profit in my personal opinion," they used to be .... before the globalisation thingy | |||
"As a single person, unless you have a good income and can afford an expensive house, its pointless buying because if I knew back when I was persuaded to buy my house what I do now I would have stayed with social housing. The only upside is that if I wanted to move north, I could buy two houses for my one. The thing now is that I want to sell but because my house is only worth £117,000 I couldn't afford to buy another unless I looked at shared ownership and that would be a flat, not what I really want. You think you can buy two houses for £117,000 in the north? Good luck with that. You may get two houses which need immense amounts of work, in an ex-pit village with no jobs and crap transport links but other than that... My son and his ex moved to Liverpool and in the lettings agency, there were houses to buy at £30-35,000 so a few years ago yes again, i just looked at liverpool and there's pages of properties for £60,000 no work needed very presentable. at the bottom end there are properties for £17,000 that need work but £15,000 later and you got a good home.. Why don't you look in Albania you can pick two reasonable ones up, no work needed, for a grand a piece!. Yeah so buying into the housing market in Liverpool, yeah it sounds good, however jobs will be lower paid, and it might not really be where you wanna live (miles from friends or family) that's a bit tough if you've got small kids as your increasing your expenditure on babysitters and nursery!, it could be that your working 50 miles from there and spending a 100 quid a week commuting, again that's a little more expenditure, the schools could be good awful and access to services could be woeful again adding more expenditure... But the truth is, even if you buy into the housing market in Liverpool at 60k... The average house price elsewhere is 187k houses tend to go up on % terms so a 10% increase leaves you were... In Liverpool later on, it's always moving away from you.. Your house goes up 6k the others go up 18k. In my mind what we do is talk about housing as a social need but it's actually just another commodity that's being used to make profit. So if you really really wanna insist on housing being housing, you really need to take the profit out of the equation and the easiest way to do that is apply capital gains tax on profit across the board with no exception! might, could, possibly? you're speculating again. there's good jobs in liverpool these days now derek hattons gone. there's loads of gaffs there around the £35G mark which are pristeen after recent refurbishment under the european funding scheme. the transport infrastructure is good and services are good. i only mentioned liverpool in response to someone elses comment by the way.. No I'm not denying there's good gaffs there, there's good gaffs in Albania, my point was not everybody wants to live in Liverpool for various reasons (hence the speculation)" Except I wasn't looking to move there just surprised by how much cheaper houses were compared to down here | |||
" That's great, sell up in expensive Oxford and head to that shit hole in Liverpool then?. Nah thought not... Actually I don't have a choice about where I live right now, because I'm at university in Oxford. But we are almost certainly going to look to move further North in a couple of years time when I finish my education. Most likely to somewhere between Birmingham / Leeds / Liverpool. So yeah, I would live there. I don't think Liverpool is a shit hole. Not when I've visited anyway - and I visit fairly often because my main client is just down the road. (Also I don't own a house in Oxford, I rent a reasonably priced house in Banbury at a third of the price... so next time, don't be so fucking rude.)" . Your assumption of the question caused the rudeness....i mean to come out with such nonsense like some people won't mind having shit services because they work online and don't have kids!!... Yeah but I'm guessing they wanna leave their front door occasionally (I know more speculation) Every town has shit holes... I'm just wildly speculating again (because I can't be arsed looking) that the 20k house in Liverpool is not in a very nice area... That's not slagging Liverpool off there's very expensive areas as well, just like every other city! Anyhow if your deeply offended by anything I've said like why don't you move to the place your saying is a great buy, I apologise,I await your next post from croxteth! Although the internet is appalling there, so it might take awhile | |||
