Generation rent

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worsleyweb

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Read something the other day that the average age of buying a first property in London is 42 and elsewhere 33.

I see people every day in town who clearly rent paying 1000 plus a month for a 2 bed flat and eat out every night.

Can’t for the life of me see the logic of it not the attraction.

Sad that as a society a firemen and a nurse married would struggle to get on the housing ladder!

Madness. House prices in this country are just madness.
 
worsleyweb said:
Read something the other day that the average age of buying a first property in London is 42 and elsewhere 33.

I see people every day in town who clearly rent paying 1000 plus a month for a 2 bed flat and eat out every night.

Can’t for the life of me see the logic of it not the attraction.

Sad that as a society a firemen and a nurse married would struggle to get on the housing ladder!

Madness. House prices in this country are just madness.
Click to expand...
Aren’t you one of those building all these expensive homes that are out of reach for the average worker!
 
Yeah but to let inflated the prices beyond all reason and killed it for a generation. Foreign investment a lot of the time too, but sometimes institutional investment like pension funds in our own country investing in private rented as it is a good steady long term return.
 
I’m sure many don’t want to be paying such high rent, but how can they be expected to save at least 20k you really need to move out nowadays ?
I was lucky my wife had savings when I met her and able to get on the mortgage ladder otherwise I’d still be trapped renting with having little to save.
Understand the answer is to build more homes but in some parts, especially down here in the south east it is gridlocked.

Do think there should be a cap on how many homes someone can buy.
 
Instead of sitting around eating out every night and then vegetating in front of Netflix, these young professionals should swallow their pride and work for their dream. Those evenings would be better spent dealing in piccadilly gdns or giving 5 quid bj's down chorlton St. A few years of graft and they'd soon have a deposit for one of @worsleyweb flats. No get up and go this millennial generation.
 
Corky said:
Yeah but to let inflated the prices beyond all reason and killed it for a generation. Foreign investment a lot of the time too, but sometimes institutional investment like pension funds in our own country investing in private rented as it is a good steady long term return.
Click to expand...

I accept BTL is one reason but surely the main reason is simple demand. Back in the 70's everyone lived at home with mum and dad until they got married. The couple then bought their own home and lived together for 60 years. Now everyone moves out as soon as they can, usually to a flat, they get married or live together and when they divorce they both need a house/flat, throw in an ever increasing population and the demand forces the prices up.

I also remember back in the 80's the media used to bang on about how it was daft to tie up all your money in property, we should be like Germany where 75% rent. Now that 75% are renting the media and everyone else is moaning.
 
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