Its like 2008 never happened.... (4 Viewers)

jimmyhillsfanclub · Jul 26, 2017

I don't want to get too deep into peoples individual personal circumstances.......but as Marty rightly states, (most) people have & make their own choices.....

Choose to move to a cheaper flat, a cheaper town, change job, adjust expectations, choose to make sacrifices, choose to spend all your cash on flash motors & holidays ......its all choices...

A quick scan on rightmove confirms that you can buy a house for under £100K in all major Northern & Midlands cities & towns.....

with the obvious exception of london, which is a fucking basket case, the south east & some hotspots elsewhere, there is affordable housing available in the majority of this country....

jimmyhillsfanclub · Jul 26, 2017

martcov said:
I pay 800 € a month leasing a Land Rover over 4 years. It is for my business though, so it is not a luxury, but a necessity. It still takes a lot of work to get that in every month. Subsidies Wasps through advertising and Grendel as he works for LR...:-(

Just curious....but at 800 euro a month for 4 years....why not buy the thing? Same sort of money & you (or your business) end up with an asset....

Nick · Jul 26, 2017

Captain Dart said:
You can still buy a 2 bed flat in Coventry (or a Maisonette) for £100K. Leaves a lot to be desired but the mortgage is surely manageable on £25K salary or thereabouts, about £450/month for 25 year term.

You can buy them much cheaper if you are happy to graft a bit on it.

http://www.rightmove.co.uk/property-for-sale/property-61009150.html
http://www.rightmove.co.uk/property-for-sale/property-45365238.html
http://www.rightmove.co.uk/property-for-sale/property-48085230.html
http://www.rightmove.co.uk/property-for-sale/property-47370702.html

It isn't in Earlsdon or anything fancy, but it's a house you can buy and get on the ladder.

martcov · Jul 26, 2017

jimmyhillsfanclub said:
Just curious....but at 800 euro a month for 4 years....why not buy the thing? Same sort of money & you (or your business) end up with an asset....

I had a problem before when the engine blew up ( years ago when I was buying a LR Discovery ) and they said it would have been no problem if it were leasing. Tbf the 800 € is including VAT. The car costs more than I pay over 4 years and I would trade it in anyway. Although... I am now 62 and don't know how long I am going to carry on. The advice I got was to keep leasing as it is better for tax purposes.

Liquid Gold · Jul 26, 2017

Marty said:
Minimum wage now would get you something decent In the 80's. My parents paid 17k for there's. My grandparents paid 2k in the 60's.

That makes me so sad.

jimmyhillsfanclub · Jul 26, 2017

Liquid Gold said:
That makes me so sad.

but don't forget the mortgage rates were anywhere between 7% - 21%.......not as affordable as the price tag suggests

jimmyhillsfanclub · Jul 26, 2017

Fair enou

martcov said:
I had a problem before when the engine blew up ( years ago when I was buying a LR Discovery ) and they said it would have been no problem if it were leasing. Tbf the 800 € is including VAT. The car costs more than I pay over 4 years and I would trade it in anyway. Although... I am now 62 and don't know how long I am going to carry on. The advice I got was to keep leasing as it is better for tax purposes.

Fair enough......and I knew there would be some accountants input in the decision :bookworm:

Nick · Jul 26, 2017

jimmyhillsfanclub said:
but don't forget the mortgage rates were anywhere between 7% - 21%.......not as affordable as the price tag suggests

The person who had my house bought it for something silly like 7k back in the day, they still ended up being repossessed. How do you manage that?

jimmyhillsfanclub · Jul 26, 2017

Nick said:
The person who had my house bought it for something silly like 7k back in the day, they still ended up being repossessed. How do you manage that?

Probably had a variable rate mortgage in the 2nd half of the 1980's.........payments may well have trebled in a very short period.......

Deleted member 5849 · Jul 26, 2017

jimmyhillsfanclub said:
Probably had a variable rate mortgage in the 2nd half of the 1980's.........payments may well have trebled in a very short period.......

Or interest only and then have to find the cash at the end.

Marty · Jul 26, 2017

Weren't endowment mortgages all the rage about that time, most of which never came close to covering what was owed. Supply and demand is the issue pushing prices up and the influx of migrants into the country is an issue which needs to be raised.

Captain Dart · Jul 26, 2017

Marty said:
Weren't endowment mortgages all the rage about that time, most of which never came close to covering what was owed. Supply and demand is the issue pushing prices up and the influx of migrants into the country is an issue which needs to be raised.

I know, the Cov Building Soc. tried very hard to sell me one in the mid 80's, but I insisted on a repayment mortgage.
Quite a few of my friends were caught out by their maturing endowment failing to cover the capital.

Grendel · Jul 26, 2017

Liquid Gold said:
It really fucks me off when people who had affordable housing and guaranteed jobs say my generation can't live within our mean. We fucking struggle because everything is so much more expensive in comparison with our wages than when you were our age. Your generation is hording the wealth this country has and the rest of us are being told we can't handle money. Fuck that, stop buying houses to make money.

Really? My first job paid a princely sum of £11,000 a year. 40% was eaten in mortgage fees alone.

vow · Jul 26, 2017

I do feel for the younger generation regarding house prices/deposits being v high and wages not reflecting this. However, the folks, any age, that feel they are entitled to the latest gadgets, sky and "just have to have it" without saving up first or on a credit. If you can't afford it, don't buy it.

wingy · Jul 26, 2017

Worth remembering that the populace are led in their habits by Ideology, marketing bombardment, aspiration etc.

Kingokings204 · Jul 26, 2017

I'm a big believer of prioritizing and I think you can own houses. Don't get me wrong I do think the younger generation have it tougher but plenty of houses and cheap mortgages to be had.

It's a tricky one and a balancing act. No doubts a rent of £700 a month which about standard I would guess and in 2 years that's almost 20k which is your deposit. So you can do it. Live with parents. Do whatever. Cheaper to buy than to rent also.

SIR ERNIE · Jul 27, 2017

Liquid Gold said:
In the last 4 years I've paid £35,820 in rent - 4 years. You're going to tell me I can't manage my money when I have to shell out that much just for a roof over my head, before bills, before water, electricity, before I put any petrol in my car, before I buy any food.

£9k a year for a home sounds pretty reasonable to me. I pay more than that for my 6 year old daughters education.

There are plenty people your age who 'own' their own home. You say you're 29 with a masters degree, you should be raking it in.

How come you can't do it too, if it's so important to you?

Oh and stop whining that it was easy for previous generations to buy their home. It wasn't I can assure you.

clint van damme · Jul 27, 2017

SIR ERNIE said:
£9k a year for a home sounds pretty reasonable to me. I pay more than that for my 6 year old daughters education.

There are plenty people your age who 'own' their own home. You say you're 29 with a masters degree, you should be raking it in.

How come you can't do it too, if it's so important to you?

Oh and stop whining that it was easy for previous generations to buy their home. It wasn't I can assure you.

it wasn't, but it is a lot harder now.
I grew up in a street where a lot of the households only had one wage earner but they still could afford their mortgage and a reasonable standard of living. Only possible now if that wage earner has a big income.

Deleted member 5849 · Jul 27, 2017

A little naive to assume a postgraduate degree guarantees untold financial riches too.

Shows how out of touch some are...

Grendel · Jul 27, 2017

Deleted member 5849 said:
A little naive to assume a postgraduate degree guarantees untold financial riches too.

Shows how out of touch some are...

Odd - I thought that was "investing in the future"

Grendel · Jul 27, 2017

Liquid Gold said:
That makes me so sad.

Its not true. My £30,000 mortgage in the early 90's cost me nearly £500 a month and ate all my salary. What loan can you get for £500 now?

Deleted member 5849 · Jul 27, 2017

Grendel said:
Odd - I thought that was "investing in the future"

It would be if we had a government who valued such things as community.

Grendel · Jul 27, 2017

Deleted member 5849 said:
It would be if we had a government who valued such things as community.

What has community got to do with it? Depends surely on the quality of degree? My oldest daughter has a friend who paid £30k for a masters at a premium university. So I assume liquid gold also paid a fortune as well for his as well. This guy now in his first job is getting well over £50k - is that down to the government or actually individual ability and responsibility?

SIR ERNIE · Jul 27, 2017

Deleted member 5849 said:
A little naive to assume a postgraduate degree guarantees untold financial riches too.

Shows how out of touch some are...

What a pathetic comment.

The whole point of gaining qualifications is to increase your chances of securing rewarding employment. A masters degree should put you in a very strong, advantageous position. I suspect some use further education as an opportunity to avoid working and then whinge about the fact that they've missed the boat.

Liquid Gold · Jul 27, 2017

The position I'm in now is an entry level one but requires a masters degree for any consideration. If I keep working hard and am lucky enough then in 10 years time I will be in a very good position doing something worthwhile either in the sector I'm in now or, if I decide to move to the public sector, something like the foreign office. The vast majority of people won't make it where I want to get to and will end up in the private sector, probably earning large sums of money but hating their work. I want to do something fulfilling and am aiming towards something that will positively change the lives of millions in the developing world. I've already done work that has saved lives, enabled children to get an education and communities develop further means of securing their livelihoods.

By the time I get to the point I'll be able to afford a deposit on even a shithole I'll have paid well upwards of £100k in rent. What is being said in this thread is I could afford one if I lived somewhere cheap (I can't due to work) and focussed only on money (If i did that my career progression would be fucked).

My generation has to make these choices, previous ones didn't. I'm not saying you didn't work hard and graft to get on the ladder, what I'm saying is you have no idea the difficulties my generation has in doing the same.

xcraigx · Jul 27, 2017

Grendel said:
Its not true. My £30,000 mortgage in the early 90's cost me nearly £500 a month and ate all my salary. What loan can you get for £500 now?

I totally agree. My house would have cost around £300 a month in mortgage repayments back in 1992. It now costs me £310. Inflation during that time comes in at around 100% so I'm in a much better position than my parents would have been.

clint van damme · Jul 27, 2017

SIR ERNIE said:
What a pathetic comment.

The whole point of gaining qualifications is to increase your chances of securing rewarding employment. A masters degree should put you in a very strong, advantageous position. I suspect some use further education as an opportunity to avoid working and then whinge about the fact that they've missed the boat.

but rewarding can mean more than just a large salary. I'm sure at some point in your life, you or someone you love has been helped by someone who saw there career as a vocation and put that above making as much money as possible. All you go on about is the bottom line and what's in it for you, I actually think it's a bit sad.

Deleted member 5849 · Jul 27, 2017

SIR ERNIE said:
What a pathetic comment.

The whole point of gaining qualifications is to increase your chances of securing rewarding employment. A masters degree should put you in a very strong, advantageous position. I suspect some use further education as an opportunity to avoid working and then whinge about the fact that they've missed the boat.

What a pathetic comment.

Some hide behind their own ivory towers, unable or unwilling to see that there are alternative world-views than that seen from a detached distance, skewed through a Daily Mail prism.

Deleted member 5849 · Jul 27, 2017

Grendel said:
What has community got to do with it?

Some vocations are valued by government more than others.

FWIW, I actually agree with some of the general things said on this thread about credit, and how people take it out too easily on occasion when there's no need (I disagree that in a modern age, t'internet isn't a need... but nobody needs a new car on lease, there are plenty of decent second-hand you can buy for cold hard cash, and not much of it!).

But, there's been a change in the last 20-30 years where certain professions, or elements of general value to the wellbeing of society, have been marginalised because it's all about cash. That doesn't mean, incidentally, I want everything rated the same - if you have a choice to do a postgrad degree in the first place, you're probably in the fortuitous position to be able to choose *what* you do it in, and it's blindingly obvious some careers will earn more than others - so be it. The skew has certainly got wider however.

Grendel · Jul 27, 2017

[QUOTE="Liquid Gold, post: 1367061, member: 6644]

My generation has to make these choices, previous ones didn't. I'm not saying you didn't work hard and graft to get on the ladder, what I'm saying is you have no idea the difficulties my generation has in doing the same.[/QUOTE]

I genuinely haven't read anything on this forum that's made me so angry than your self indulgent whining post.

Just take a look at this one extract. Go back in time and explain your position to those in the Great War or depresdion, the slum estates of the sixties or those in the industrial wasteland of the 70's and how terribly hard your life is.

What an arrogant expecting person you are.

Liquid Gold · Jul 27, 2017

Grendel said:
[QUOTE="Liquid Gold, post: 1367061, member: 6644]

I genuinely haven't read anything on this forum that's made me so angry than your self indulgent whining post.

Just take a look at this one extract. Go back in time and explain your position to those in the Great War or depresdion, the slum estates of the sixties or those in the industrial wasteland of the 70's and how terribly hard your life is.

What an arrogant expecting person you are.
.

Fuck off baby boomer. Ruin the housing market, economy and environment and blame everyone else. To bring up the fuking generation that lived through the war is disgusting you should be ashamed of yourself. c**t.

Captain Dart · Jul 27, 2017

In 1990 I was being paying approx. 25% of my salary on the mortgage. That was 5 years into the mortgage and at the time my salary was going up regularly,. so I expect payments were more like 40% of salary to begin with.

Deleted member 5849 · Jul 27, 2017

Captain Dart said:
In 1990 I was being paying approx. 25% of my salary on the mortgage. That was 5 years into the mortgage and at the time my salary was going up regularly,. so I expect payments were more like 40% of salary to begin with.

The problem however is more whether you're able to get the mortgage in the first place.

I fully take on board that interest rates made the cost more on a lower purchase price, but lower purchase prices also meant a mortgage was attainable on 3.5 times your salary. Often isn't nowadays... even more so with the prevelance of temp contracts and the like, which put a halt on any mortgage application, too.

Liquid Gold · Jul 27, 2017

Deleted member 5849 said:
The problem however is more whether you're able to get the mortgage in the first place.

I fully take on board that interest rates made the cost more on a lower purchase price, but lower purchase prices also meant a mortgage was attainable on 3.5 times your salary. Often isn't nowadays... even more so with the prevelance of temp contracts and the like, which put a halt on any mortgage application, too.

Be careful Grendel will get angry you didn't live through the black plague.

Grendel · Jul 27, 2017

Liquid Gold said:
Fuck off baby boomer. Ruin the housing market, economy and environment and blame everyone else. To bring up the fuking generation that lived through the war is disgusting you should be ashamed of yourself. c**t.

Here we go.

Guess what? When I had a house in the 90's it was in a poor area. I bought second hand furniture and I worked until 11 at night many nights. I had a car that cost £200. That's life and in the end of your good enough you get on.

You seriously think I just throw hand outs to a lazy self indulgent parasite like you. You like the EU and the land of opportunity so why don't you go there - or will that require hard work on your part as well.

The OP is spot on and it's people like you that expect a living without earning it just as you think your degree makes you special who are the problem.

Why do I know someone whose just attained a masters whose earning £50k a year? Is he lucky or perhaps talented and perhaps, just perhaps, you are not?

Its like 2008 never happened.... (4 Viewers)

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