Generation rent

[brooklandsblue2.0]

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.

I bought my first house at 23. I was skint for 3 years after trying to pay for it as my mortgage nearly doubled as I was on a variable rate. At the time I drove a Renault Clio, couldn’t afford a holiday for 2 years and rarely ate out etc. My friends all had fancy cars and lead a much more extravagant existence but they’re now trying to get on the property ladder at the age when I’ve got a significant amount of collateral built up.

I see some young people I know via work and they literally spend cash like it’s going out of fashion on clothes (online deliveries flying into our office daily!) eat out 2-3 times a week, go to every festival going plus think it’s normal to holiday / city break 3-4 times a year. My theories are

1) zero sense of sacrifice / saving
2) Owning property seems so unattainable that they simply give up and so enjoy today.
3) it’s simply not an aspiration anymore
4) They’re just self entitled snowflake moany arses!!

 

[BimboBob]

If developers stopped being cunts and actually produced the amount of social housing they are supposed to produce instead of finding loopholes to get out of their responsibility due to them wanting to make as much cash as possible and fuck you poor people we might have houses for everyone.

Developers = cunts.

Multiple home owners = cunts.

 

[117 M34]

On the continent, most normal people rent. Only the well-off own their houses in many counties like Greece Spain Netherlands...

What do they do when they retire and have only a small income from their pension?

 

[johnmc]

Why bother saving at current interest rates too?

This is as much an issue as any other. People with money are putting it to property nowadays as the banks are offering little.

 

[Gabriel]

On the continent, most normal people rent. Only the well-off own their houses in many counties like Greece Spain Netherlands...

Think the rate of ownership in the Netherlands is now just below 70%, which might be higher than the UK.

 

[brooklandsblue2.0]

If developers stopped being cunts and actually produced the amount of social housing they are supposed to produce instead of finding loopholes to get out of their responsibility due to them wanting to make as much cash as possible and fuck you poor people we might have houses for everyone.

Developers = cunts.

Multiple home owners = cunts.

Businessmen.

 

[idahoblues]

The only way I could swing buying a house was to build it myself. I was working four ten hour shifts for a local contractor then working Fri Sat and Sunday on my place. A tough six months but had to happen

 

[peoffrey]

I’ve always taken lodgers in when I’m able to as I know how difficult it is to find a home. Everybody I know in communal shares has had problems from food or post theft through to antisocial behaviour. Heard some awful stories. Landlords don’t appear to give a shit either. They just want their rent.

When I sell my London place, I’ll cash buy elsewhere and rent a room out for little more than company if I’m still on my own. It’s £365,000 for a two bed terrace in London. Can you Adam and Eve that?

 

[Millwallawayveteran1988]

Perhaps the answer is for youngsters to stop moaning and start saving. I bought my first house in 1982 for £28,500, I had to find the 10% deposit which back then was, like today, virtually impossible,.You could only get a mortgage from the Building Society, banks weren't allowed to do it and you had to save monthly with them for 3 years to prove you had the ability to afford one. Yes save some of your wages !!

We had one holiday a year in the mother in laws caravan as we couldn't afford anything else never mind Las Vegas for a mates stag do as well as 2 weeks in Spain. We didn't spend £50 a month on a mobile phone just so we can tweet a photo of our McDonalds to someone we barely know. There was no such things as new cars on PCP's that are virtually worthless in 2 years time, I had an old Vauxhall Viva and meals out were a rare treat. We were skint but we had a house, now you lot moan you cant afford one as well as everything else you really must have right now because your mates got one.

(Oh and don't start me on designer trainers)

Same as you. Me and the misses spent that much on mortgage that a treat for us was a video and couple of cans of Carlsberg special cos it got you more pissed and wasn’t as expensive then!

Still had decent trainers though! :-)

 

[Corky]

I bought my first house at 23. I was skint for 3 years after trying to pay for it as my mortgage nearly doubled as I was on a variable rate. At the time I drove a Renault Clio, couldn’t afford a holiday for 2 years and rarely ate out etc. My friends all had fancy cars and lead a much more extravagant existence but they’re now trying to get on the property ladder at the age when I’ve got a significant amount of collateral built up.

I see some young people I know via work and they literally spend cash like it’s going out of fashion on clothes (online deliveries flying into our office daily!) eat out 2-3 times a week, go to every festival going plus think it’s normal to holiday / city break 3-4 times a year. My theories are

1) zero sense of sacrifice / saving
2) Owning property seems so unattainable that they simply give up and so enjoy today.
3) it’s simply not an aspiration anymore
4) They’re just self entitled snowflake moany arses!!

Renault Clios only came out in 1990, so not having that from a guy who clearly looks in his 50s. Must have been brand new at worst.