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Old 2nd February 2014
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How can the youngsters afford a home ?

Our neighbour, this morning said, "my children do not want a mortgage and home of their own. They just rent and move about. This country is too expensive and they will go abroad, eventually."

A few weeks ago, Nicks son in law said, "even with the Govt help to buy scheme the price of a house means they have to be earning far more than they are - so youngsters still cannot buy a home of their own."


What is the likely future for youngsters ?


Must they stay living at home or those who have left and gone to University "Boomerang" back home ?
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Old 2nd February 2014
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Re: How can the youngsters afford a home ?

Why buy a house? We sold up many years ago and now live where we want with no maintenance costs. It seems to be a British thing.
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Old 2nd February 2014
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Re: How can the youngsters afford a home ?

It is bringing the UK into line with Germany as regards housing.

If the population can avoid saddling themselves with huge mortgage costs, they can be more flexible re job location and also have more cash for big toys (some of which) will be made/designed in the UK.
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Old 2nd February 2014
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Re: How can the youngsters afford a home ?

depends where you live, with a job youngsters can get a house round here
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Old 2nd February 2014
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Re: How can the youngsters afford a home ?

The problem is that rents are often unaffordable, too. We used to have a stock of council houses precisely for those on low wages, until Maggie got her hands on them. Debbie and I benefited greatly from the right to buy, but that doesn't mean it was a good policy in the wider picture. If the money raised had been re-invested in building more council houses it may have been different.
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Old 3rd February 2014
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Re: How can the youngsters afford a home ?

My eldest son is a uni boomerang and lives at home again along with his girlfriend. He has a job but the pay is poor and he simply cannot afford to buy or rent locally. It really is a simple as that.

He far from happy about this and is currently very disheartened as to where his life is going as he is still on the pay role from mum and dad. He is not alone in this situation amongst his friends.

Middle child is currently backpacking on the other side of the world but faces a similar situation on his return.

Daughter is at uni but doing vet nursing where the job prospects on qualification look, dare I say it, very good. Hopefully she will not get so stuck as the other two.

We have created a generation who regard large debt, i.e. uni fees, as normal and acceptable and feel a noticeable resentment about the whole situation. I hope that something does not trigger social disquiet but I genuinely believe it is a real possibility as a lack of hope in the young is a classic destabiliser.

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Re: How can the youngsters afford a home ?

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Originally Posted by Grumpy Hec View Post

I hope that something does not trigger social disquiet but I genuinely believe it is a real possibility as a lack of hope in the young is a classic destabiliser.

Hec
If it does, the Government will have brought it upon themselves.
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Re: How can the youngsters afford a home ?

We lived in Berlin for many years and only the very, very rich owned houses, all others rented but at least rental prices were sensible and appartments mostly large and comfortable.

Unfortunately, consecutive governments have been held to ransom by the large building companies who have made false promises about affordable housing, they have been allowed to hold land they own without building and picking the time to coincide with market prices that suit them.

It was not long ago we heard politicains say they would not allow house prices to reach the sale prices experienced a few years ago - they lied and prices are and in some cases have already reached those levels again!

Here in the Cotswolds we no longer have affordable housing as it has become a "desireable area" for the well healed who can afford the £1 million plus asking prices for their "country retreat", the affordable housing put up by the major house builders are small, cramped, flimsy and too expensive.

When we returned from Berlin we bought a Wimpey house, it was small, cramped had 3 bedrooms (3rd could only fit a cot) and when you closed the front door the whole house appeared to shake, we sold up and moved into a rental house built of stone that is solid and has character and soul.

Alas we are in this country now puppets of the major players and political class who claim to "know what we want and need better than we do".

Sorry about rant but the void between have and have not gets larger every year while politicians procrastinate and do nothing to address it.

Now stepping off my soap box!
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Re: How can the youngsters afford a home ?

Phew ! I shall have to read all these replies carefully, this evening.

I must live in "La La Land" ... I worked all my life and bought my first home, "to get on the housing ladder of owning my own home - so that when retired I did not have to pay rent" .

My father said, Rent is great for the Landlords! but "dead money" - but then that was ... um more years ago than I care to remember.

My sons have their own homes - but I do wonder what the future holds for the grand children ?

I loved New Zealand, (I worked there for 6-8 weeks a few times over 2 years) its lifestyle and open space and climate ... the only thing I missed was old homes and art collections etc., to view and ponder ... BUT If I was young again there I would be for SURE !

I liked the USA (I worked there before NZ lots over 15 years) but not the Gun & Crime issues - my children wanted to live there, because ... they could drive a car at 16 ...
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Re: How can the youngsters afford a home ?

Quote:
Originally Posted by Iansky View Post
We lived in Berlin for many years and only the very, very rich owned houses, all others rented but at least rental prices were sensible and appartments mostly large and comfortable.

Unfortunately, consecutive governments have been held to ransom by the large building companies who have made false promises about affordable housing, they have been allowed to hold land they own without building and picking the time to coincide with market prices that suit them.

It was not long ago we heard politicains say they would not allow house prices to reach the sale prices experienced a few years ago - they lied and prices are and in some cases have already reached those levels again!

Here in the Cotswolds we no longer have affordable housing as it has become a "desireable area" for the well healed who can afford the 1 million plus asking prices for their "country retreat", the affordable housing put up by the major house builders are small, cramped, flimsy and too expensive.

When we returned from Berlin we bought a Wimpey house, it was small, cramped had 3 bedrooms (3rd could only fit a cot) and when you closed the front door the whole house appeared to shake, we sold up and moved into a rental house built of stone that is solid and has character and soul.

Alas we are in this country now puppets of the major players and political class who claim to "know what we want and need better than we do".

Sorry about rant but the void between have have not get larger every year while politicians procrastinate and do nothing to address it.

Now stepping off my soap box!

Well said, Ian.
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Re: How can the youngsters afford a home ?

In this crowded isle of our every bit of land is owned.

The cost of a house is (I believe) 50-50 the cost of purchasing the land and the cost of building the dwelling... plus a large profit for the developer/estate agent/stamp duty.

Both rent and house prices are dictated by market forces so while demand is high these prices will be high.

Now if we had a sufficiently large pool of govt./council/"public" owned rented accommodation at controlled affordable rents to allow freedom of movement (eg to meet job demands) then this would put downward pressure on private landlord rents and house prices. Unfortunately most of this housing has been sold off or moved to housing associations (who are just another profit business) but there was never enough of it anyway and none in the slightly more desirable category.

The future does not look good but a start might be in controlling land speculation. If land has planning permission then build on it or loose the land. I sure this idea has been raised but I don't think anything has actually been done along these lines.
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Re: How can the youngsters afford a home ?

Quote:
Originally Posted by Iansky View Post
Alas we are in this country now puppets of the major players and political class who claim to "know what we want and need better than we do".

Sorry about rant but the void between have and have not gets larger every year while politicians procrastinate and do nothing to address it.
Spot on. That gap is getting bigger and the current bunch of over privileged cabinet members do not care at all and indeed seem intent on increasing what is in danger of becoming a chasm. It fits in with their view of life as viewed from their luxurious ivory towers.

Gove will do his best to reduce the effectiveness of education and the NHS is gradually been "spoilt" to create the excuse for full privatisation on the grounds that it does not work. These two elements alone will widen the gap let alone all the other tactics being deployed. You only have to investigate how many MPs have financial interests in various healthcare companies to realise many of them, especially the unmandated tory mob who seem to think they are an elected tory government, stand to make big money if/when the NHS is destroyed.

Another forumer stepping back from a rant. Phew.

Hec
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Old 3rd February 2014
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Re: How can the youngsters afford a home ?

Hi all how political we are all getting these days, and so we should.

We do need to stand together and stand upto them, did you know that over 85% of the MP's from all parties are millionaires. They are so short sighted by their greed for more money they are distroying there own future as well as ours "working class".

They forget that no working class no money for them either, food would finish as no one would be there to grow and pick it, no fuel as no one would be working to refine the oil. etc,,

No thats Political, Phew sorry for that.

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Old 3rd February 2014
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Re: How can the youngsters afford a home ?

Quote:
Originally Posted by OM USer View Post
In this crowded isle of our every bit of land is owned.

The cost of a house is (I believe) 50-50 the cost of purchasing the land and the cost of building the dwelling... plus a large profit for the developer/estate agent/stamp duty.

Both rent and house prices are dictated by market forces so while demand is high these process will be high.

Now if we had a sufficiently large pool of govt./council/"public" owned rented accommodation at controlled affordable rents to allow freedom of movement (eg to meet job demands) then this would put downward pressure on private landlord rents and house prices. Unfortunately most of this housing has been sold off or moved to housing associations (who are just another profit business) but there was never enough of it anyway and none in the slightly more desirable category.

The future does not look good but a start might be in controlling land speculation. If land has planning permission then build on it or loose the land. I sure this idea has been raised but I don't think anything has actually been done along these lines.
And only grant planning permission with the price of the land capped and also the price of the houses that are to be built upon it.
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Old 3rd February 2014
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Re: How can the youngsters afford a home ?

World economics is changing. We in the UK have got to come to terms that we are no longer able to justify the standard of living that we have got used to. To enable the UK to compete we have to accept the standard of living similar to some of the less successful Asian economies.
or
Accept the need that the country needs to up its game, starting with education, following the methods and dedication of the successful countries in Asia - eg S Korea, Singapore.

However the current standard of living cannot be sustained.
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