Let’s tax the old to feed the young (8 Viewers)

[Sick Boy]

There was nothing in between at all they could afford?

The problem is that people are moving out into cities surrounding London and commuting, which in turn helps to increase rents and the cost of buying.

Besides that, should London only be for the rich?

I know people who live in Rugby and Market Harborough and commute daily, which means people on London wages having more spending power than those local to the area. This will then have a knock on effect with people have to move to buy.

 

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[Astute]

The problem is that people are moving out into cities surrounding London and commuting, which in turn helps to increase rents and the cost of buying.

Besides that, should London only be for the rich?

I know people who live in Rugby and Market Harborough and commute daily, which means people on London wages having more spending power than those local to the area. This will then have a knock on effect with people have to move to buy.

Fair play if they want to spend hours each day commuting.

London for the rich only? Have you never been to London?

You couldn't pay me enough to make me live there.

You are all for open borders so anybody that wants to live here and has an EU passport can. You don't like the consequences of us not having enough housing for everyone to live which puts the prices up though.

We have had a population boom. But we haven't had a housebuilding boom. And until we do it will remain the same. And when I say it is one thing good about leaving the EU you tell me that I am wrong.

 

[Grendel]

Why should certain areas of the country be unaffordable for those whose families have lived there for generations?

Places like London are getting more and more difficult to buy due to the wealthy buying up property. Should there not be affordable housing options available to these people? Should they really be forced to move hundreds of miles just to own a home? Should we be happy for London to be a playground for the super rich and the wealthy to buy up property to rent back out at insanely high rents to normal working people?

It’s the same in all European capitals - what’s a flat in Rome cost compared to the south?

 

[Sick Boy]

It’s the same in all European capitals - what’s a flat in Rome cost compared to the south?

The majority of housing gets passed down the generations and a lot of young Italians seem to get gifted housing, hence why a lot of them seem to have had families in same cities for generations. Obviously there's been a lot of migration from the south to the north looking for work though, I've never heard of anyone heading to the south just to buy a house though.

 

[Sick Boy]

Fair play if they want to spend hours each day commuting.

London for the rich only? Have you never been to London?

You couldn't pay me enough to make me live there.

You are all for open borders so anybody that wants to live here and has an EU passport can. You don't like the consequences of us not having enough housing for everyone to live which puts the prices up though.

We have had a population boom. But we haven't had a housebuilding boom. And until we do it will remain the same. And when I say it is one thing good about leaving the EU you tell me that I am wrong.

Scapegoating migrants again I see. You'd have no doubt aimed the same rhetoric at those coming from other continents to work as well and joined in with the blame game.

Freedom of movement didn't start with the EU - it's the norm for Britain

 

[Astute]

Scapegoating migrants again I see. You'd have no doubt aimed the same rhetoric at those coming from other continents to work as well and joined in with the blame game.

Freedom of movement didn't start with the EU - it's the norm for Britain

Your normal reply.

You moan about not being able to affird a home to live in. But you seem to be blind to part of the truth.

If there were more homes than people wanted the prices would drop. If there are more people after properties than there are available properties then more money can be asked. Are you saying this isn't true?

This isn't scapegoating anyone. It is what is known as telling it how it is. Telling the truth. For years less houses have been built than have been needed. And as it has gone on for many years.....under both Labour and the Tories......it has exasperated the problem.

I don't know how you can have the nerve to disagree with something that is so obvious. It is all about supply and demand.

 

[Sick Boy]

Your normal reply.

You moan about not being able to affird a home to live in. But you seem to be blind to part of the truth.

If there were more homes than people wanted the prices would drop. If there are more people after properties than there are available properties then more money can be asked. Are you saying this isn't true?

This isn't scapegoating anyone. It is what is known as telling it how it is. Telling the truth. For years less houses have been built than have been needed. And as it has gone on for many years.....under both Labour and the Tories......it has exasperated the problem.

I don't know how you can have the nerve to disagree with something that is so obvious. It is all about supply and demand.

You've consistently scapegoated immigrants instead of focusing on the real issue of successive governments failing to build affordable housing.

The problem isn't going to go away after leaving the EU as the number of migrants is unlikely to change if the economy remains relatively successful.

Plenty of people, myself included, will be children of immigrants, to have our families blamed for governments' inactions is ridiculous.

 

[Astute]

You've consistently scapegoated immigrants instead of focusing on the real issue of successive governments failing to build affordable housing.

The problem isn't going to go away after leaving the EU as the number of migrants is unlikely to change if the economy remains relatively successful.

Plenty of people, myself included, will be children of immigrants, to have our families blamed for governments' inactions is ridiculous.

Why are some of your comments such a joke?

You can't disagree with what I am saying as it is 100% correct. So you say I blame immigration fir it all and scapegoating those who came here. You fail to mention about me saying avout the lack of houses built.

So yes or no. Has the population boom made any difference in the cost of homes in the UK?

 

[Sick Boy]

Why are some of your comments such a joke?

You can't disagree with what I am saying as it is 100% correct. So you say I blame immigration fir it all and scapegoating those who came here. You fail to mention about me saying avout the lack of houses built.

So yes or no. Has the population boom made any difference in the cost of homes in the UK?

If houses aren't being built of course it's going to have an effect. Unlike you though I lay the blame at successive governments rather than ordinary working people coming to work from around the world coming to work in a relatively successful economy.

Unsurprisingly though you couldn't help but start droning on about the EU.

 

[Nick]

Too many people are getting sucked in to part ownership on fancy new builds that cost shit loads as well as having to rent them.

When you go on Rightmove now the majority are all shared ownership.

Plenty of houses about for less than 100k, using around here as an example:

http://www.rightmove.co.uk/property-for-sale/property-52859547.html
http://www.rightmove.co.uk/property-for-sale/property-65126248.html
http://www.rightmove.co.uk/property-for-sale/property-72601904.html

Thing is, people nowadays don't want shitheaps like that, they want things like this

http://www.rightmove.co.uk/property-for-sale/property-64936072.html
http://www.rightmove.co.uk/property-for-sale/property-70966925.html

 

[Astute]

If houses aren't being built of course it's going to have an effect. Unlike you though I lay the blame at successive governments rather than ordinary working people coming to work from around the world coming to work in a relatively successful economy.

Unsurprisingly though you couldn't help but start droning on about the EU.

Droning on about the EU?

I mentioned it once. And that was about your views and not how it runs.

House prices are so high because we don't have enough. And there are two reasons for it mainly. And as I said it is because not enough have been built for the population boom we have had. The two reasons go together. But you only want to acknowledge one of the reasons.

This is the point that I don't get. A lot of older people wanted out so their kids would find getting a house easier. Younger ones wanted in so they could move around easier. And they moan about the older ones having it easier getting their first home. Yes it was a bit easier. But it still wasn't easy.

All my older kids but one have their own home. None of them started off living where they wanted to. I still help one of them doing up their first home. It is nearly finished now. Then he can move up to the next stage. This includes moving to a nicer area with a garden for their lad.

Or they could have done what many others do and waste their money on things they don't need whilst moaning that they can't afford to live where they want.

 

[Astute]

Too many people are getting sucked in to part ownership on fancy new builds that cost shit loads as well as having to rent them.

When you go on Rightmove now the majority are all shared ownership.

Plenty of houses about for less than 100k, using around here as an example:

http://www.rightmove.co.uk/property-for-sale/property-52859547.html
http://www.rightmove.co.uk/property-for-sale/property-65126248.html
http://www.rightmove.co.uk/property-for-sale/property-72601904.html

Thing is, people nowadays don't want shitheaps like that, they want things like this

http://www.rightmove.co.uk/property-for-sale/property-64936072.html
http://www.rightmove.co.uk/property-for-sale/property-70966925.html

First one has a sitting tenant. But the second two are perfect. I would go for the third one myself if only 2 bedrooms needed. But the second one would be perfect as a family home. The third one looks bad but it isn't. You can't see inside the secind one so with the price it could be a lot to take on. Instant profit to be made in both of them.

 

[Earlsdon_Skyblue1]

We're trying to buy a house at the moment and it's so expensive. We've been saving for two years plus (having also forked out for a wedding).

Of course what she wants and what we can afford are two completely different things, but the problem is I would rather have a smaller house in a nice place, and she would rather have a bigger house in a not so nice place.

House prices are a massive issue and the points Astute has raised are spot on. We've saved hard to try and get our own place, but it still feels not enough.

Giving people my age 10,000 is ridiculous to be honest as most will spend it on shit. It's typical of this generation really. Get given everything on a plate and then cannot deal with the reality of life. The current safe space culture being another example.

Kids these days are animals raised in captivity whom cannot survive in the real world.

 

[Mr Panda]

I agree with previous comments that people are so engrossed in a consumer society and can't see how the money they spend on things could equal a mortgage if you just reframe for a couple of years. It's a mentality thing, you hear so much in the media, theres almost a narrative that it's impossible to buy and you'll rent well into your 40's.

No matter how educated you are, I think most people are financially dumb.

Have a dream or an end goal, budget so that you eventually realise that goal and you'll get there. Doesn't have to take 10 years of no social life as most think.

 

[Astute]

I see many younger people where I work and their priorities.

Latest phone. Check.

Expensive holidays. Check.

Nice new car hired for 3 years. Check.

Go out on piss all the time. Check.

Rent a nice house in a nice area. Check.

Put it on a credit card if no savings and is wanted. Check.

Then they moan that they can't afford to save for a depisit. I know that many can't afford to save for a deposit. But that has always been the same.

 

[fernandopartridge]

Too many people are getting sucked in to part ownership on fancy new builds that cost shit loads as well as having to rent them.

When you go on Rightmove now the majority are all shared ownership.

Plenty of houses about for less than 100k, using around here as an example:

http://www.rightmove.co.uk/property-for-sale/property-52859547.html
http://www.rightmove.co.uk/property-for-sale/property-65126248.html
http://www.rightmove.co.uk/property-for-sale/property-72601904.html

Thing is, people nowadays don't want shitheaps like that, they want things like this

http://www.rightmove.co.uk/property-for-sale/property-64936072.html
http://www.rightmove.co.uk/property-for-sale/property-70966925.html

The government has encouraged this, all it is is yet another subsidy to their friends in big business, the housebuilding cartel

 

[jimmyhillsfanclub]

to be fair, being financially naive, reckless or feckless is not the preserve of the millennials.....

.....many of my Generation-X peers have continued to live beyond their means as if the 2008 crash never happened....despite the following decade being the best opportunity EVER to pay down their debts......

....and many from the baby-boom generation have "released equity" to cruise the world in some massive environmental catastrophe of a mega-liner or similar......

Each of the 3 generations has had to overcome hurdles as well as enjoying some lucky opportunities........its just there seems to be more moaning about the hurdles these days.....

 

[fernandopartridge]

to be fair, being financially naive, reckless or feckless is not the preserve of the millennials.....

.....many of my Generation-X peers have continued to live beyond their means as if the 2008 crash never happened....despite the following decade being the best opportunity EVER to pay down their debts......

....and many from the baby-boom generation have "released equity" to cruise the world in some massive environmental catastrophe of a mega-liner or similar......

Each of the 3 generations has had to overcome hurdles as well as enjoying some lucky opportunities........its just there seems to be more moaning about the hurdles these days.....

We've got an economy which is based on consumption, be that of consumer goods or eating out at restaurants, set in the context of piss poor virtually stagnant wages and easy credit. It's no surprise that people are still borrowing, most aspire to a standard of living that feels like the norm but is only the norm because of credit.

 

[Nick]

We've got an economy which is based on consumption, be that of consumer goods or eating out at restaurants, set in the context of piss poor virtually stagnant wages and easy credit. It's no surprise that people are still borrowing, most aspire to a standard of living that feels like the norm but is only the norm because of credit.

Agree with that. Credit is so easy now so it's not a surprise people just take it without thinking about it.

You buy something off eBay and Paypal is hitting you with adverts saying to get it on Paypal Credit and pay for it later. You have silly phone contracts that people sign up to because they want the latest phones so they can keep up with their mates.

It's the Catalogues and things like Brighthouse that baffle me.

On Amazon you can get a PS4 with Fifa and Gran Turismo for £309.84.

Go to Brighthouse because your kid wants one and you can't pay for it in one go and it's £404.29 to start with, pay for it weekly and you could end up paying £845.00 over 130 weeks or £645.84 over 78 weeks.

Yes, your kid now has a PS4 console they have been shouting about but jesus christ.

Don't get me wrong, I have used credit for things to help with cashflow when it works out better than having a big chunk going out and its best for me at that moment but some of it is madness.

 

[fernandopartridge]

Agree with that. Credit is so easy now so it's not a surprise people just take it without thinking about it.

You buy something off eBay and Paypal is hitting you with adverts saying to get it on Paypal Credit and pay for it later. You have silly phone contracts that people sign up to because they want the latest phones so they can keep up with their mates.

It's the Catalogues and things like Brighthouse that baffle me.

On Amazon you can get a PS4 with Fifa and Gran Turismo for £309.84.

Go to Brighthouse because your kid wants one and you can't pay for it in one go and it's £404.29 to start with, pay for it weekly and you could end up paying £845.00 over 130 weeks or £645.84 over 78 weeks.

Yes, your kid now has a PS4 console they have been shouting about but jesus christ.

Don't get me wrong, I have used credit for things to help with cashflow when it works out better than having a big chunk going out and its best for me at that moment but some of it is madness.

There is an argument for far more social and other life education in schools I think tbh.

The PPI scandal is a case in point.

Catalogues and Brighthouse target poor people, they're the retail equivalent of Wonga etc. V

 

[Nick]

There is an argument for far more social and other life education in schools I think tbh.

The PPI scandal is a case in point.

Also down to parents but I agree kids could be taught money management etc, it's going to benefit them much more than things like Algebra and other things that are learnt that 99% of people will never use in day to day life.

Especially when people turn 18 and they get hit with "have this new car", "have this new phone" and they can just sign up for it all.

 

[Astute]

Also down to parents but I agree kids could be taught money management etc, it's going to benefit them much more than things like Algebra and other things that are learnt that 99% of people will never use in day to day life.

Especially when people turn 18 and they get hit with "have this new car", "have this new phone" and they can just sign up for it all.

I can understand why some 18 year olds rent a new car for 3 years. They can have a new car with insurance included for not much more than paying insurance of a car of their own. But then they seem to think that they need a new car to rent each 3 years afterwards.

 

[Sick Boy]

to be fair, being financially naive, reckless or feckless is not the preserve of the millennials.....

.....many of my Generation-X peers have continued to live beyond their means as if the 2008 crash never happened....despite the following decade being the best opportunity EVER to pay down their debts......

....and many from the baby-boom generation have "released equity" to cruise the world in some massive environmental catastrophe of a mega-liner or similar......

Each of the 3 generations has had to overcome hurdles as well as enjoying some lucky opportunities........its just there seems to be more moaning about the hurdles these days.....

Spot on, I'm part of the Xenial generation and each generation has had hardships and advantages over the others and has complained about the ones after themselves.

 

[chiefdave]

Plenty of houses about for less than 100k, using around here as an example

Be reasonable Nick, look what you're expecting people to go through to purchase a house

For sale by auction on Wednesday 23rd May 2018
At Birmingham Auction, Aston Villa FC, Holte Suite, Trinity Road, Birmingham, B6 6HE

I'm one of those fussy people who wants a house I buy to have things like walls and floors! Be interesting trying to get a mortgage on some of those, wonder if they're so cheap as they will only be open to cash buyers.

 

[Astute]

Be reasonable Nick, look what you're expecting people to go through to purchase a house


I'm one of those fussy people who wants a house I buy to have things like walls and floors! Be interesting trying to get a mortgage on some of those, wonder if they're so cheap as they will only be open to cash buyers.

The 3rd one is cash only. No kitchen sink for starters.

It is possible to buy at auction with a mortgage. But it is best to have one agreed in principle first. You need to pay a 10% deposit straight away and the rest normally within 28 days or lose your deposit. You should be able to get a bridging loan within 2 weeks to cover you until a mortgage goes through. If you don't pay the full amount on time you lose the house and deposit.

But the savings are well worth it. Just don't go into it with your eyes closed.

 

[Nick]

Be reasonable Nick, look what you're expecting people to go through to purchase a house


I'm one of those fussy people who wants a house I buy to have things like walls and floors! Be interesting trying to get a mortgage on some of those, wonder if they're so cheap as they will only be open to cash buyers.

Was just an example of them, there are things about if people will put some graft into them and then reap the rewards once it's done with either a small mortgage or selling it on for profit.

That one without the walls and floors isn't that bad, when I bought mine I had to gut it all first and knock the walls and floors it to get it to that sort of state! That's my point, my mates all turned their noses up when I showed them the state of my house and they came round to give me a hand.

"What you buying this shithole for"
"Why not just buy a house you can move straight into"
"It hasn't even got a toilet"

Yeah it was horrible getting the keys handed over and knowing it's going to be a while before we could live in it but went down there after work and weekends and roped people in to help when they could.

It had no back fence, so people used it as a cut through to get from the back to then walk down the side to get to the front. It had no carpets as the estate agent had to rip them out to be able to get people in, there was yellow walls from people smoking etc.

It was a good job people turned their noses up as I got it really cheap because of that, 3 months graft and then a bit more while we have moved in to update things and still have bits to do like paint it and maybe new windows and front door but not massive things.

8 years on if we really stretched ourselves we could have the mortgage paid off in less than 10 years and looking at the average prices could make about 60K on it. Granted, it's no Kenilworth Road but then if we wanted to we could move to somewhere else using that money as the deposit or we could just look to rent it out and buy something else and have a nice chunk of the mortgage paid with the rent.

Yeah, we could have broken our backs to buy a house that could be moved straight into but we would probably be paying a much higher mortgage every month with more struggle and wouldn't make as much if we ever sold.

 

[chiefdave]

Was just an example of them

Glad to hear it, thought you were suggesting people should go to Villa Park to bid on houses. No matter how bad things get forcing people to go to Villa Park isn't on!

 

[Astute]

Was just an example of them, there are things about if people will put some graft into them and then reap the rewards once it's done with either a small mortgage or selling it on for profit.

That one without the walls and floors isn't that bad, when I bought mine I had to gut it all first and knock the walls and floors it to get it to that sort of state! That's my point, my mates all turned their noses up when I showed them the state of my house and they came round to give me a hand.

"What you buying this shithole for"
"Why not just buy a house you can move straight into"
"It hasn't even got a toilet"

Yeah it was horrible getting the keys handed over and knowing it's going to be a while before we could live in it but went down there after work and weekends and roped people in to help when they could.

It had no back fence, so people used it as a cut through to get from the back to then walk down the side to get to the front. It had no carpets as the estate agent had to rip them out to be able to get people in, there was yellow walls from people smoking etc.

It was a good job people turned their noses up as I got it really cheap because of that, 3 months graft and then a bit more while we have moved in to update things and still have bits to do like paint it and maybe new windows and front door but not massive things.

8 years on if we really stretched ourselves we could have the mortgage paid off in less than 10 years and looking at the average prices could make about 60K on it. Granted, it's no Kenilworth Road but then if we wanted to we could move to somewhere else using that money as the deposit or we could just look to rent it out and buy something else and have a nice chunk of the mortgage paid with the rent.

Yeah, we could have broken our backs to buy a house that could be moved straight into but we would probably be paying a much higher mortgage every month with more struggle and wouldn't make as much if we ever sold.

We have one more move ahead of us. We are looking for a home for our youngest 3 to share when the wife and I retire. And also big enough for us to have space when we are in the country. But this time I think we will buy and do most of the work before we move in. Getting too old to work and then spend every day off working on a house with the family living in it at the same time. And I refuse to buy a house already done. You pay a premium for it and still change most of it.

 

[skybluegod]

I see many younger people where I work and their priorities.

Latest phone. Check.

Expensive holidays. Check.

Nice new car hired for 3 years. Check.

Go out on piss all the time. Check.

Rent a nice house in a nice area. Check.

Put it on a credit card if no savings and is wanted. Check.

Then they moan that they can't afford to save for a depisit. I know that many can't afford to save for a deposit. But that has always been the same.

Again, this isn't just 'younger people' this is people of all generations.

 

[skybluegod]

Also down to parents but I agree kids could be taught money management etc, it's going to benefit them much more than things like Algebra and other things that are learnt that 99% of people will never use in day to day life.

Especially when people turn 18 and they get hit with "have this new car", "have this new phone" and they can just sign up for it all.

Is it even just parenting? In my opinion, again this is where the education system is failing the younger generation, by teaching them to pass tests, rather than preparing them for anything in life?

 

[chiefdave]

Agree with that. Credit is so easy now so it's not a surprise people just take it without thinking about it.

Wonder how much student figures in to that attitude. Its hard to drill in to people that debt is bad when you come out of uni 30-50K in the hole before they work their first day.

 

[Nick]

Wonder how much student figures in to that attitude. Its hard to drill in to people that debt is bad when you come out of uni 30-50K in the hole before they work their first day.

Even more so when it's a pointless degree.

 

[hill83]

House prices are absolutely mental at the moment. We've made 50k in 3 years on our house in Wyken and if everything goes through will be moving to Eastern Green.
Our first house is nice, but the area is shite.

I racked up about £10k of debt when I was younger, not earning much and on the piss every weekend, and that's not even taking into account my student loan debts.
We lived with the mrs mum and dad for 10 months to save for a deposit, we would have had no chance otherwise, well not within the time frame we accidentally set ourselves by her getting pregnant whilst we lived there.
Long story short, I was a div with money, now I'm sensible. Carling instead of Stella now.

 

[dutchman]

House prices are absolutely mental at the moment. We've made 50k in 3 years on our house in Wyken and if everything goes through will be moving to Eastern Green.

You understand that prices in Eastern Green will have gone up by the same amount if not even more?

 

[hill83]

You understand that prices in Eastern Green will have gone up by the same amount if not even more?

Of course. I’ve increased my mortgage for this move but have a deposit way above what I could have afforded three years ago.