To give up on ever owning a house

[Kiddiewinks2008]

I live in the SE and its expensive. I rent with my 2 dc's. I have a good job but having spent years trying to save a deposit, I am no closer to owning my own home and its getting to the point now where, due to age, I wouldnt get a 25 yr mortgage.
I could move to a cheaper area but I have networks, good childcare, friends, a job I enjoy and my kids are happy.
Aibu to think that the housing situation in this country is truly awful- the only solution I am ever given is to move to a cheaper area but thats actually really hard when you have a whole life somewhere?
WWYD? Am so worn down trying to find a solution when I don't think there is one.

I guess the only real solution (unless you anticipate a windfall / inheritance in the future) is to move to a cheaper area, but I understand this isn't always an option with DCs and work.

Have you looked into part ownership?

I know it's not much comfort but the SE is expensive and there are plenty of others in your situation, so you're not alone.

Solution 1: Move to a cheaper area.

Solution 2: Part owner scheme? Share with another friend?

Solution 3: Campaign for more housing and development, rental caps and no Right To Buy.

you are right. the housing situation is terrible.

Solution 3: Campaign for more housing and development, rental caps and no Right To Buy.

The problem in this country is that both politicians and the people want two contradictory things: a profitable housing market and lower priced housing. Well, you can't do that without a lot of welfare (housing benefit and social housing), which is very costly and socially divisive. There has to be a loser and it's currently all the people who need lower priced houses.

I did think of buying a really cheap house to rent out in the town I grew up in (there isnt enough work there for me to move back) so that I have somewhere to go in retirement.

What about your DP? I had no hope of buying a house when I was a single mum, but when I partnered up and combined salaries with DH it became possible. Some of my friends have even joined forces with other friends to buy a property.

red I agree that it's a contradiction. It's not one I've ever bought into - I'm very pro-renting.

I'm in SE also and agree it's a nightmare. We are part buy part rent now but even the had to share with a friend. DP and I want to get our own place in the near future but a two bed in the area we're in is still out of our price range so we may end up having to stay put for awhile yet. Agree that moving to a cheaper area may be something to consider but am loathe to do it as I really don't want move away from friends family school and DP's job. You have my sympathies.

Yanbu. In my view more should be done to make sure that houses are homes and not a mass investment. The problem is when everything is about profit you end up with some people with masses of houses (read about one guy with 900) while some people have none. Wouldn't it be better to make sure people are all enabled to buy one (maybe two) house? We will never ever get that with the Tories sadly.

I agree that it's a contradiction. It's not one I've ever bought into - I'm very pro-renting.

I think there are good economic reasons to support a strong and stable private rental market. It gives people mobility.

In my view more should be done to make sure that houses are homes and not a mass investment

We've reached a point where people are trading not in stocks and shares but in shelter. It's ridiculous when you think of it like that.

its getting to the point now where, due to age, I wouldnt get a 25 yr mortgage
Surely renting forever is less preferable to having a 25 year mortgage?
Could you buy a flat to use as a buy to let? It would help build your deposit while you are renting

every owner treats their house as an investment. I assume all the anti-capitalist lot would sell their house at a loss, given that it is worth less in real terms due to cash inflation than when they bought it. No, of course not - because house prices go up generally.

SE is overcrowded, supply and demand. Plus very high salaries distorting things.

no solution except to get out - I did but I didn't have any of your constraints.

We just done a move area and sadly its still a problem where we are. We have a problem with nothing being on the market and anything that does come to market in our price range going to btl people the ea knows. Also thinking we never buy now. The whole housing market needs sorting!

I assume all the anti-capitalist lot would sell their house at a loss

This is a false dichotomy. There must be middle ground between selling at a loss and accepting stupidly inflated prices.

The housing situation near you is bad. Elsewhere not so much. 3 bed houses round here go for between 60 to 90 grand. If you want to buy you have to sacrifice in some way.

Very rarely in life do we get everything we want, wanting to live in an expensive area near friends and family for many will mean never owning.

To get my deposit together I worked lots of hours in different jobs and sacrificed the work life balance. A few years of sacrifice was worth it long term.

You need to decide what's more important, the current area and renting forever or an area that suits the budget mortgage wise.