The Guvnor Posted 2 October 2016 Posted 2 October 2016 5 hours ago, Charl91 said: The people who think that anyone can easily save for a house deposit are absolutely clueless. When I think about the people who graduated from University with me, there's only me and two others I know that have a house. In my case, it's because I got a substantial loan off my parents to pay for my 5% deposit (which still gives me huge monthly repayments). And in others, it's because they lived with their parents for an extra 3/4 years rent-free, so they could afford a deposit. The rest of the people I know don't have the luxury of owning their own homes, because they can't afford to. Rent is expensive. So are cars, which are needed for work. Then there's energy bills. By the time you've factored all that in, then your savings are going to be very little. Especially when you're then hit by all the other unexpected bills, which seem to crop up at the worst times. My salary is about £22,000, and I live relatively frugally - I don't go for nights out, and other than my gym membership, I don't have expensive hobbies, and my car is 10 years old. Even so, I'd be lucky to have saved a couple of hundred quid per month. Assuming a 10% deposit, I doubt I would've been able to save up for a mortgage deposit for at least 7 years, while renting. And that's on a relatively respectable salary straight out of university, and presuming that house prices also didn't go up in that time. And that's a best-case scenario - I still haven't managed to get out of my overdraft post university (though mainly due to the mortgage repayments on my 5% deposit, and a little bad luck) Yeah, there is a little animosity in this thread from us of the younger generation. It's probably due to the (ignorant) assumption that the only reason people can't afford to have their own house is because they either don't work hard enough, or waste all their money on shiny new things. Maybe some people do waste their money. I know lots of people who do. Doesn't matter though, 'cus even if you live on a tight budget, you're still fvcked when it comes to trying to get onto the property ladder. Things are just more expensive now. My grandparents were both teachers, and could easily afford a house. Me and my partner both teach, and we'd have been buggered without outside help. It's a lot more difficult to get onto the property ladder now then it was 10, 20, 30 years ago. That is an indisputable fact. Agreed, who has said it is easy. The thought that energy was free 30 years ago and cars were cheap as chips is also equally ridiculous. Rental costs now are expensive but borrowing/ mortgage interest rates are way lower than they have ever been, I recall interest rates for mortgages in 1981 averaged 17% some of you may not have known that.
Charl91 Posted 2 October 2016 Posted 2 October 2016 16 minutes ago, The Guvnor said: Agreed, who has said it is easy. The thought that energy was free 30 years ago and cars were cheap as chips is also equally ridiculous. Rental costs now are expensive but borrowing/ mortgage interest rates are way lower than they have ever been, I recall interest rates for mortgages in 1981 averaged 17% some of you may not have known that. They weren't cheap as chips 30 years ago, but they were a lot cheaper relative to job income. Again, interest rates may be nicer, but you could actually afford to get a mortgage, as the ratio of house price to the average wage ratio was much better. Put it this way, in about 1980, houses were on average 4-5x the average wage. Now they are closer to 8x. Nothing to do with "the youth" these days being lazier, or being less thrifty with their money, as some people have tried to imply (or, simply not "thinking outside the box" as Thracian puts it, ha!) I'm sure you still had to work hard, back in the day, to get a house, I don't think anyone's denying that. But let's not pretend that the situations are comparable. Just "grafting at work" and "not buying nice things" doesn't mean you can afford a house,
fuchsntf Posted 2 October 2016 Posted 2 October 2016 12 hours ago, m4DD0gg said: A lot of this is bollocks we arne of the worlancial powerhouses, that is our biggest export by a long stretch. The days of building things or producing a tangible good in a trade such as engineering are long gone, why try and export something that can be had from a BRIC's country for 1/5th of the price. In modern day Britain the services sector is the place to be whether that be financial, IT related through a system integrator or a vendor (certainly not as a developer) or as a contractor in either of those industries where you can easily earn up to £500-700 per day. One of the biggest problems is english people are lazy as fcuk, many not willing to relocate to better themselves and all to ready to turn down a job that will often be gladly snapped up by an immigrant. If you believe a politician from the UK or any other country for that matter you only have yourself to blame. The UK is a very easy place to make a fcuk tonne of money you just have to go out and do it and not be a whinny bitch expecting everything on a plate like most folk from the UK expect to happen. I was a M/c builder toolmaker, then IT network specialist, now retired. My lifes path took me around Uk and then overseas,With the normal lifes ups and downs. When I was younger, there was Always good quality work to be found that at all levels it gave one a living wage, through the whole society, Even then there were still constraints because of Poor decision and lack of investments making within old and new Industries effecting todays generation no support for small or middle entrepenuers and businesses.Banks /politicians like now, just took but never backed or invested to support UKs dynamicity or creativity. They set back while France, Germany, holland even Italy( Corruption curtailed any gains )and Scandanavian Countries Supported their Youth across the whole society, with good base education, and held on to apprenticeships or schemes. .Schools/education/kids were not used as political Prawns or platforms every 2-4 years. Every western european country suffers more now than ever, with housing and decreasing infrastructure planning and organisation, but UKs property ladder has lost too many Rungs. Whether for low to avg renting from the state or private, the lack of properties for the demand is pathetically out of sync. Prices for all properties are ridiculously high, that even married Proffesionals With 2 earners cant find anything in their financial scope.So what hope do the normal avg working class earners have. Poverty levels For a country that you say is one of the top 5 financial power house, hss never been so high Since wwII. Think about this....and fking hard...2016 and we have in the UK soup kitchens for godsake.Soup kitchens..!!!!! So much for world power house..a country that cant look or take care of its electorate, old immigrants, new immigrants , who just want a start.Cant even offer Or promise a base education without political interference and dabbling, in any major city or town. If we lackies have an accident or need hospital treatment then we are really fked. At present the UK cant even offer the basics Expected in any world power house or civilisation. Housing , education, Health supp o rt, with a defined future .... Oh Sorry yes they can...for the few.....
ScouseFox Posted 2 October 2016 Posted 2 October 2016 comments like the ones thracian makes are the reason literally nobody likes old people. so out of touch. should ship them all off the ireland or something and give us their houses for a tenner like they bought them for back in the good old days.
The Guvnor Posted 2 October 2016 Posted 2 October 2016 16 minutes ago, ScouseFox said: comments like the ones thracian makes are the reason literally nobody likes old people. so out of touch. should ship them all off the ireland or something and give us their houses for a tenner like they bought them for back in the good old days. Ha Ha the youth of todays sense of humour is why I love them so much. On first reading I thought you wanted to ship us all off to Ireland, If the Republic of Ireland is allowed, I have been to Dublin it's great would settle for that, hang on they are in the EU aren't they, meh forget it!
bovril Posted 2 October 2016 Posted 2 October 2016 34 minutes ago, The Guvnor said: Ha Ha the youth of todays sense of humour is why I love them so much. On first reading I thought you wanted to ship us all off to Ireland, If the Republic of Ireland is allowed, I have been to Dublin it's great would settle for that, hang on they are in the EU aren't they, meh forget it! So's the UK. Do you wake up every morning annoyed you live in the EU?
The Guvnor Posted 2 October 2016 Posted 2 October 2016 Just now, bovril said: So's the UK. Do you wake up every morning annoyed you live in the EU? No I wake up every morning throw back my St Georges flag duvet put on my England rules slippers throw a few darts at a picture of Junker go out into the garden and raise the St George flag happy in the knowledge that by the end of March we will have triggered article 50, isn't that what all over 50's do ?
bovril Posted 2 October 2016 Posted 2 October 2016 4 minutes ago, The Guvnor said: No I wake up every morning throw back my St Georges flag duvet put on my England rules slippers throw a few darts at a picture of Junker go out into the garden and raise the St George flag happy in the knowledge that by the end of March we will have triggered article 50, isn't that what all over 50's do ? Wot no Churchill mug?!
The Guvnor Posted 2 October 2016 Posted 2 October 2016 Just now, bovril said: Wot no Churchill mug?! Yep it is my fav mug, wow that is spooky how the hell did you know that?
Dr The Singh Posted 2 October 2016 Posted 2 October 2016 1 hour ago, ScouseFox said: comments like the ones thracian makes are the reason literally nobody likes old people. so out of touch. should ship them all off the ireland or something and give us their houses for a tenner like they bought them for back in the good old days. You do know Thrac is less then 40 years old
Charl91 Posted 2 October 2016 Posted 2 October 2016 14 minutes ago, Dr The Singh said: You do know Thrac is less then 40 years old If Thrac is less than 40 years old, then I am a fetus.
Strokes Posted 2 October 2016 Posted 2 October 2016 45 minutes ago, Charl91 said: If Thrac is less than 40 years old, then I am a fetus. You type so well with those little fingers, immpressive.
davieG Posted 3 October 2016 Author Posted 3 October 2016 Far too much generalisation and stereotyping in this topic, no two peoples situation is or was the same whatever the decade you're from, pluses and minuses in all of them. It's like comparing footballers from the 60s with today it can't be done.
Manwell Pablo Posted 3 October 2016 Posted 3 October 2016 On 10/2/2016 at 12:27, The Guvnor said: Interesting comments from posters. I personally feel there is definitely a different outlook to life and lifestyle than say 30 years ago when I got married. I started work at 16 as a apprentice commercial vehicle mechanic and believe me my pay was shite, at 19 I moved into a rented one bedroom flat, and yes you had to pay rent, at 24 I was married and secured a mortgage on our first house. My dad had always said time and time again you cannot spend what you don't have, no credit cards for me I had a bank account and you kept it in the black or you paid ridiculous interest. I still managed to save enough over 8 years for a 10% deposit on the house, that was very difficult, I had a part time cleaning job so finish a hard days graft in the garage and a cleaning job 3 nights a week 3 hours a night, a frugal lifestyle but managed to save a little. My car was a Morris 1100 which was about 20 years old yes I was a mechanic by trade and it was mechanically sound but it was definitely a no frills car, second hand furniture, a holiday for a week in Devon if I was lucky. Now I am not going to generalise about all youngsters but I have a young daughter in rented accommodation 3 holidays a year, new HDTV telly, new furniture, Gym memberships latest mobile phone, convertible car, very socially active with their friends drinking most fri sat nights etc etc. but can't raise 15k for a mortgage deposit although she earns 24k and her fella earns more. I'm now in my early 50's and I have all the things I wanted as a youngster, lovely house, convertible car, sports bike, nice holidays latest mobile phone and yes a Gym membership. This is not a criticism of anyone as you should live your life as you see fit, living for today is fine but you have to consider tomorrow. If it was 30 years, then yeah. I'd agree times have moved on. It's not, it's 10. Things have largely stayed the same.
Manwell Pablo Posted 3 October 2016 Posted 3 October 2016 On 10/2/2016 at 13:03, Charl91 said: The people who think that anyone can easily save for a house deposit are absolutely clueless. When I think about the people who graduated from University with me, there's only me and two others I know that have a house. In my case, it's because I got a substantial loan off my parents to pay for my 5% deposit (which still gives me huge monthly repayments). And in others, it's because they lived with their parents for an extra 3/4 years rent-free, so they could afford a deposit. The rest of the people I know don't have the luxury of owning their own homes, because they can't afford to. Rent is expensive. So are cars, which are needed for work. Then there's energy bills. By the time you've factored all that in, then your savings are going to be very little. Especially when you're then hit by all the other unexpected bills, which seem to crop up at the worst times. My salary is about £22,000, and I live relatively frugally - I don't go for nights out, and other than my gym membership, I don't have expensive hobbies, and my car is 10 years old. Even so, I'd be lucky to have saved a couple of hundred quid per month. Assuming a 10% deposit, I doubt I would've been able to save up for a mortgage deposit for at least 7 years, while renting. And that's on a relatively respectable salary straight out of university, and presuming that house prices also didn't go up in that time. And that's a best-case scenario - I still haven't managed to get out of my overdraft post university (though mainly due to the mortgage repayments on my 5% deposit, and a little bad luck) Yeah, there is a little animosity in this thread from us of the younger generation. It's probably due to the (ignorant) assumption that the only reason people can't afford to have their own house is because they either don't work hard enough, or waste all their money on shiny new things. Maybe some people do waste their money. I know lots of people who do. Doesn't matter though, 'cus even if you live on a tight budget, you're still fvcked when it comes to trying to get onto the property ladder. Things are just more expensive now. My grandparents were both teachers, and could easily afford a house. Me and my partner both teach, and we'd have been buggered without outside help. It's a lot more difficult to get onto the property ladder now then it was 10, 20, 30 years ago. That is an indisputable fact. Nah mate. My house is worth exactly 10k more than it was 10 years ago. I.e £20 more on your mortgage and 1k more in deposit (based on 10%, £500 in your case) I'd say that's easily in line with increase in wages during that time period. 80's, 90's yes, Houses were significantly cheaper.
Rincewind Posted 3 October 2016 Posted 3 October 2016 I'm no expert but I would guess that it is difficult for a person to get a mortgage if they are on zero hour contract or working part time or working at Poundland. I would say you need to be on a decent wage as well as in a secure job. I lived with my parents until I was in my twenties. I never earnt a big wage and never really thought about buying a house. If I had been in a relationship then most likely I would have done. I rent but is a housing association not a private landlord and the rent is controlled. Owning your own home is fine if you have the money coming in but you are also responsible for the upkep and renovations which can be costly. I do not envy anyone with a mortgage these days.
DB11 Posted 3 October 2016 Posted 3 October 2016 4 hours ago, Rincewind said: I'm no expert but I would guess that it is difficult for a person to get a mortgage if they are on zero hour contract or working part time or working at Poundland. I would say you need to be on a decent wage as well as in a secure job. I lived with my parents until I was in my twenties. I never earnt a big wage and never really thought about buying a house. If I had been in a relationship then most likely I would have done. I rent but is a housing association not a private landlord and the rent is controlled. Owning your own home is fine if you have the money coming in but you are also responsible for the upkep and renovations which can be costly. I do not envy anyone with a mortgage these days. Why specifically Poundland?
Charl91 Posted 3 October 2016 Posted 3 October 2016 4 hours ago, Manwell Pablo said: Nah mate. My house is worth exactly 10k more than it was 10 years ago. I.e £20 more on your mortgage and 1k more in deposit (based on 10%, £500 in your case) I'd say that's easily in line with increase in wages during that time period. 80's, 90's yes, Houses were significantly cheaper. Ok, that's a fair comment. Been looking at the figures, and it hasn't gone up too drastically in the past 10 years. Longer term, it's a different story.
Great Boos Up Posted 3 October 2016 Posted 3 October 2016 This is all relative. There is less free income now but more choice. I'm in my 40's but I'm still skint just with stronger assets. Cars weren't cheap and often broke down, white goods were a true luxury item. I only had 3 channels on TV. In black and white! Yes! I've got a video! I shared bunkbed! At Christmas I got a ball and a selection box. I had to pass my exams by remembering things and writing them down. I got caned at school! and then beaten at home for getting caned at school. I was forced to have my portrait drawn by Rolf Harris and then had to sit on Jimmy Savilles knee to accept it. I had to shit in an outside toilet! fetch water from the stream and, and, if you tell the kids today......................they won't believe ya!
Strokes Posted 3 October 2016 Posted 3 October 2016 7 hours ago, Manwell Pablo said: Nah mate. My house is worth exactly 10k more than it was 10 years ago. I.e £20 more on your mortgage and 1k more in deposit (based on 10%, £500 in your case) I'd say that's easily in line with increase in wages during that time period. 80's, 90's yes, Houses were significantly cheaper. Tbf thats exactly why we are poorer as a generation, we havent been sat on assets during a boom. It wont be long now
Guest MattP Posted 4 October 2016 Posted 4 October 2016 On 9/30/2016 at 23:56, Jon the Hat said: Wrong that people choose to rent, right that people don't save like they used to. you need 5% with help to buy. A lot of people can use that, more could if they got their shit together. This is pretty much spot on, it's certainly a lot harder to buy anything these days but people in general seem prepared to spend and borrow more instead of saving, one of my mates is always whinging about how he can't get a deposit for a house and it's hard not to mention the thousands he's spunked in Gala over the last few years. I cringe when I think of the money I've thrown away since my 20's.
Buce Posted 4 October 2016 Posted 4 October 2016 1 hour ago, MattP said: This is pretty much spot on, it's certainly a lot harder to buy anything these days but people in general seem prepared to spend and borrow more instead of saving, one of my mates is always whinging about how he can't get a deposit for a house and it's hard not to mention the thousands he's spunked in Gala over the last few years. I cringe when I think of the money I've thrown away since my 20's. Meh, life is short, Matt. How do you place a value on experiences?
Guest MattP Posted 4 October 2016 Posted 4 October 2016 15 minutes ago, Buce said: Meh, life is short, Matt. How do you place a value on experiences? You can't, I don't regret spending money to travel, it's the best thing a person can do, the best monents of your life, blowing probably £200,000 in the bookies though watching horses and dogs on a screen, that I (and many others I know) could have done without.
Buce Posted 4 October 2016 Posted 4 October 2016 Just now, MattP said: You can't, I don't regret spending money to travel, it's the best thing a person can do, the best monents of your life, blowing probably £200,000 in the bookies though watching horses and dogs on a screen, that I (and many others I know) could have done without. Everything you have ever done has helped to make you the person that you are today. If you are happy with who you are, then it was all worthwhile.
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