to think I will never be able to own a house?

[igetmorelovefromthecat]

I am 30, and have been privately renting since I moved out of home 12 years ago. On average, I move once a year due to tenancies ending/houses being unsuitable etc (I am not an awful tenant and have never been kicked out of anywhere in case you were wondering).

I am now renting a lovely house and managed to get an 18 month tenancy on this one but I will definitely have to move at the end of that term as the owners want to sell. The thought of uprooting myself and my two DCs AGAIN makes me want to weep. DD1 is in school and we are very settled in this area which makes things harder as it is only a village and there aren't hundreds of rental properties to choose from.

I am really craving some security and stability for my DCs and have been looking into buying a house. With mortgages being what they are now I would need around £27K as a deposit to buy a very modest house in this area. I am a single parent and I run a small business which is successful but although I can afford to keep my head above water there isn't much left over for saving. I would die of old age before I saved £27K!!

It's so depressing to face a future of moving all the time. I know I'm not the only one in this situation and there are people a lot worse off than me but AIBU to just want to find somewhere to live and be able to stay there?

We'll never be able to own a home.

YANBU.

I completely agree with spidookly.

Reality yes there will be those that could save and cut back but some can't.

We already are 'paupers'. We rent two rooms in a shared house, have a teenager and a baby on the way. DP works full-time, bloody long hours (12 hour shifts) six days on and three days off. Our finances are down to the wire every month.

We can't afford the rental prices around here for a 'whole' house and we are reluctant for DP to try and find another job because of the current climate. If he were to move employment and that went belly up and the company had to cut back, he'd be last man in, first man out!

We are not alone in this situation either, there will be millions in the same boat.

Affordable, long term renting is just not available and that is something that needs to be addressed.

It's not likely to be on the agenda when the country is virtually bankrupted, though. I do think if people can seek to build a career from their teenage years and at least ensure our children are aware of the consequences of poor exam results or bad career choices then some of these issues for some people can be removed. And I suppose people do emigrate for a better life if things get too bad. It was a struggelf ro us to pay 50% of net pay on childcare when there were babies, just to take 2 weeks holiday off to have them in etc but 20+ years on it has yielded such great things. In other words the investment in a career early on even if it's hard work if you take a 40 year view can pay off.

My suggestion above about the new schemes to borrow a deposit are also worth looking into for those who have a salary sufficient to support a mortgage and just can't raise all the deposit although we will see later this year if my daughter does try to buy whether my research in practice is a load of rubbish and it is impossible.

The state of the economy is a good reason to improve tenant rights.

The current situation is leading to an inflexible, immobile workforce.

If you want people to be able to move where work is you need to make it attractive, affordable and practical for them to rent.

I strongly encourage my children to emigrate.

This place is increasingly poisoned by an outdated class system that will come to stiffle its competitiveness in a world market.

good idea but not everybody has the option of living with their parents. And a lot of parents I know charge a fair amount of rent themselves.

Know what you mean op am due in a week and having to move out the day before because landlords (for very good reasons and they have been lovely, kind and helpful) have to sell the flat. I'm thinking that its fate as we found a lovely house in an area we like with a garden, much more suitable than a flat. Still, moving is never fun.

I agree with Reality.

While it is true that housing is expensive now, many people couldn't afford a mortgage in the past. My mother grew up in a 2 bed house with seven adults from 3 generations of the same family. My husband, who is only in his thirties, had to live as a child with two generations in the same house because his parents couldn't afford a mortgage. From living at home, DH's parents eventually saved up enough for a mortgage.

A large part of the problem has been caused by adults who want to get rid of their children at 18 and want no further responsibility for them. That is a very contemporary attitude to hold and has led to many houses being underoccupied which worsens the pressure on the housing market. The person earlier who was saying that her 22 year old could never save the £30,000 for a deposit in her local area. Your 22 year old should work for 3 years, save their salary and live at home.

So we're all agreed that the standard of living is declining for ordinary working people, then?

Progress made since the 2nd World War in terms of increasing prosperity is in reverse and people should not expect to live as good a life as their parents could afford.

While I agree that house prices need to fall, this thread is getting more and more out of touch with reality.

GP, it is entirely normal for children of parents on decent incomes to share a bedroom and was in my childhood during these supposedly 'golden years.' I don't consider 4 bedrooms to be the size of an average family house, now or in the past.

But MillyR, do you think that two children in their mid twenties, perhaps even early thirties, should still share a bedroom in their parents' house while they save for a deposit? Surely you agree that's bonkers. Yet that's what you're suggesting by saying that children should stay with their parents while they save in one post, and saying that of course children share bedrooms in another.

If it helps, with the interest rate threatening to go up, a big drop on house prices is expected this year. (I was told up to 10%) so there is hope, just start saving, whatever you can.

LC, I shared a bedroom with my sister after I left university before I got a mortgage. I also shared a room at university with someone I didn't know.

Giddy, the first house we bough - outer London 1983 (3 bed terraced) cost £40k - Bout 2.75 x joint earnings which were £75000 each.

Those outer London houses now cost £250,000. daughter 1 current wage same career so far £40k and if she were buying with a partner now on the same £80k x 2.75 is £220k, tax rats are lower now and interest rartes are as low as we have had for as long as we have ever had them stay that low. I don't think in that bito f London and in this career there is any material difference at all. And yes I shared a room as a child and 2 of my children share now.

I think people atch too much TV, they have ridiculous expectations of entitlement and think they need things which they don't.All our furniture of course was junk shop etc.

I am not suggesting it is easy if you're on the minimum wage now or imn 1983 to buy outer London property of course.

YANBU. I thank my lucky stars we have a council flat, at least you have a secure tenancy. I'd hate to be at the mercy of a private landlord. I don't think we'll ever have enough money to own a house either .

We bought our first house by sharing with my mum, I stayed at home with dd whilst I finished college and after that moved into a housing estate, realised renting wasn't for us then moved back to mums !! Me, dp and dd all slept in one small bedroom whilst all our stuff was stored in dds old room, we did that for over a year and saved like mad, in fact my 19th birthday present was a new buggy for dd because hers had broke.

Worth it in the end to own our own dump house

Only read the first page, btbh I agree with agnethafaltskog. Says it all really. You made choices, get on with it. You can not have it both ways. Hope you find the security you want but don't blame others. Nothing wrong in renting, at least it leaves you to continue to be flexible.

GP - I admit I don't know how you are calculating this or what size deposits banks are asking for.

A couple who both live at home and earn £25,000 each could save half of their take home pay over 3 years. They would have £60,000 between them. Is that not a large enough deposit? They would be 24 -25 after 3 years.

I also don't think that leaving the parental makes someone more 'adult.'

'the parental home' was what I meant to type!

For Central London? May be. My chidlren's father's 7500 in 1983 was teacher head of dept. I wonder what that is now? Teachers can tell us. I suspect it would be £40k today.

My first year salary was actually 6250 but was 7500 the net year. Our nanny was paid I think 7500 then or perhaps that was nicluding employers national insurance and the total cost of her - but certainly 100% of one of our wages but over the next 26 years it was worth one of us working at a loss because we built good will experience salary careers and now have no childcare to pay for. A nasnny on here the other day said she earned £30k gross. That would not surprise me for London. So I don't think £40k is that high.

All my point is that you don't need to live in Chelsea. Plenty of people slum it out in Luton or wherever and commute.

Here's one - we didnt' live in Luton (we lived in outer london but it still took me an hour to commute each way ) www.rightmove.co.uk/property-for-sale/property-32723207.html £230k. So you live out in Luton and you commute into London and you hope you build a career which means eventually you earn more than you start on.

This is London. The average wage nationwide is nearer £25k though as I well know. The house my mother moved to in 1938 is now valued at £50,000 (NE). Not everywhere will it cost you £250k to get your basic 3 bed terraced.

YANBU I really do sympathise. we are lucky that we have our own house in a leafy suburb. Its nothing special. we sold our last house and lost on it around '96 but this house was priced lower. I think things have become more difficult.

I think with my 3 dc we will end up paying for their deposits if we can? we don't seem to have much disposable income either as we are desparately trying to clear some of the capital on our mortgage as the endowments are so rubbish.

I can understand you not being able to save as rents are so high plus the cost of living has gone crazy.

Owning your own home is totally overrated. Me and Dh bought one just before the crash, prob spent thousands if we're being honest on decor, and then had to sell at a loss. Took over a year to sell and a lot of heartache. Have bought another now but I know we won't be staying here forever - a couple of years tops. Value won't have gone up in that time, probably take ages to sell again - so really, what's the point? I suppose it's the 'done thing' in this country but we would have been far better renting. And of course we've never really 'owned' anything. It's a British obsession and I wish it was one that I hadn't followed. It's done us no favours whatsoever.