Generation rent

denislawsbackheel said:
Why do people conflate company pensions with running your own SIPP?
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Don't know about SIPP's, but private pensions are a waste of time, even despite the favourable tax treatment. Mine's a piece of shit and I stopped paying into it 5-6 years ago. I'd have been better off sticking the cash under the mattress. Now I can't wait to cash the fucker in and be done with it.

The general opacity of the private pension industry, the shit returns and the financial leeches who prey on it are one the reasons why anyone with a spare bit of cash buys a second or third or fourth property and exacerbates the subject matter of this thread.
 
i they brought in legislation that made it impossible for rent payments to outweigh what the mortgage payments are would this help?
 
Blue tube said:
i they brought in legislation that made it impossible for rent payments to outweigh what the mortgage payments are would this help?
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It would have to be a law that limited rent to x% of the property value. The danger is, if you set x too low, landlords stop letting.Set it too high, tenants can't gaIn.We have tried rent control before with poor results. Joint ownership is the best answer. Tenant's partner could be LA, central Gov. Housing assoc etc., but funding is the prob here. In the long run, only real solution is to build more houses.Could tax land banks to encourage developers to get on with it.
 
Ban-jani said:
It’s very easy for older people on here to scoff at youngsters trying, when you all likely bought your house with zero deposit.
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No. If we’re talking people in their 60’s, most will have put down at least 5%, maybe 10%. And they will have suffered a period of interest rates in the mid-teens.

The window of zero deposits came later, IIRC, preceding the financial crash.

Not speaking for others but we did without carpets, central heating and holidays in our early days.

First-time house buying involved making serious sacrifices. On the upside, we made major capital gains in the long term, instead of spunking dead money for someone else’s profit. Those are two key lessons for today’s would-be buyers.
 
KS55 said:
No, blame Raheem, who is single handedly causing the housing crisis. He has bought three houses recently: one for his mum, one for his sister and one for himself, the bastard. Bayern have accused him of inflating house prices all over Europe.
Raheem Sterling, ruining the housing market since 2018.
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And Fowler
 
sir baconface said:
No. If we’re talking people in their 60’s, most will have put down at least 5%, maybe 10%. And they will have suffered a period of interest rates in the mid-teens.

The window of zero deposits came later, IIRC, preceding the financial crash.

Not speaking for others but we did without carpets, central heating and holidays in our early days.

First-time house buying involved making serious sacrifices. On the upside, we made major capital gains in the long term, instead of spunking dead money for someone else’s profit. Those are two key lessons for today’s would-be buyers.
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It depends on which generation you’re talking about and as I’ve said, I’m not having a go at everyone over the age of 40.

I’m having a go at those who are blaming young people for not being able to afford to buy.

My parents, both very much working class, bought a home very quickly without a deposit. Someone in their shoes now couldn’t do that.

As I’ve said, I’ve done everything right in terms of saving and earn at least 2/3x the average for my age, had help from family and yet have still found it tough.

Those earning the average salary for 23-30 year olds and without family help may as well forget it.
 
denislawsbackheel said:
Why do people conflate company pensions with running your own SIPP?
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That is more down to my ignorance on the matter. I am merely saying be careful/cautious as the rogues out there will jump at the first sign of. Whilst it sounds a sensible idea by the Government, to me it is a lot of hot air and no help to those that have to decide what is a good SIPP. I am old enough to have mine sorted and feel sorry for younger people having to wade through what seems a quagmire.
 
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