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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To think hording something essential for life is despicable

375 replies

sandrabedminster · 19/05/2016 08:33

www.telegraph.co.uk/money/special-reports/i-have-three-properties-at-age-33-and-3000-a-month-to-save-do-i/

Its not jealousy before someone says it, I own my own home but I doubt my children will ever be able to. But shelter is something essential and all this speculation is causing lots of damage as prices are pushed ever higher. I know a friend that spends 70% of net income just on renting something that is too small for her.

OP posts:
WineOrSleep · 19/05/2016 08:37

clickable link

Still smacks of jealousy to me op Hmm

Good on him I say, good luck to him

mrsmugoo · 19/05/2016 08:37

He seems like a hard working man that has made wise financial choices.

What would you do in his situation?

ElectroStallion · 19/05/2016 08:41

Gosh, we should quickly re-nationalise the water and energy companies too, and supermarkets.
Collectivise all farms!

BigGreenOlives · 19/05/2016 08:42

Read a bit more of the article, he has poor tax efficient pension provision & low cash savings

ElectroStallion · 19/05/2016 08:45

Do you have a pension 'sandra'?

whattodowiththepoo · 19/05/2016 08:46

YABU

ItsLikeRainOnYourWeddingDay · 19/05/2016 08:50

He clearly works hard especially a sit says his earnings are set to increase. He saves and has been smart with his money. Yes a lot of property investing is luck but he made the initial decision to risk his money. He could easily be sitting there without a pot to piss in. Good on him I saw.

As for your children never being home owners. Ridiculous. Out of the main cities obviously and as long as they have an education and work hard there is no reason they won't.

Clandestino · 19/05/2016 08:52

Yes, you are jealous. He made those investments with the money he earned. Don't get you. What have your children to do with this?

Original poster
sandrabedminster · 19/05/2016 08:52

He should invest in something productive rather than speculating on this and invest in a pension.

Water and electric comparisons are ridiculous as these are highly regulated.

OP posts:
mrsfuzzy · 19/05/2016 08:55

we have worked hard to pay our mortgage off over 25 years but did it, it's not easy, but it's a fact of life most people will never home own and will have to rent. most of europe rents, whats the big deal ?

scarednoob · 19/05/2016 08:55

maybe if you'd worked harder and made different choices, you could have helped your children to buy what they wanted.

see how judgey and unfair that is?

is it any fairer to say that he should have made different choices that made him worse off?

MrsJayy · 19/05/2016 08:57

Saw a young lad on homes under the hammer yesterday 24 he was and had properties he let out his first was a 1 bed flat i thought good for him building a bussiness at 24 is great. We didnt own our own home till we we 35 its not a bad thing to rent my dd and her boyfriend are saving for a deposit they are living at home so they can do that everybody gets there eventually but owning a house isnt a right

whois · 19/05/2016 08:58

Hoarding something essential to life?

Get a fucking grip.

Althoigh if I was him I would start trying to build up a decent pension pot before investing in another BTL to diversify the risk.

specialsubject · 19/05/2016 08:59

Pure jealousy, playground emotion. He's not hoarding the houses , people are living in them.

How do you make your living? Do you sell anything essential to life?

Just5minswithDacre · 19/05/2016 09:00

I think you've won the thread already OP. It's an automatic win the moment people resort to calling you 'jealous' (on no evidence) Smile

angelos02 · 19/05/2016 09:00

YABU.

DH and I are hoping to buy a second home this year as we see it as being a more profitable investment than our current pensions. We don't have children so will sell one property and live off those savings for a while and then sell off the equity in the big house and live off that.

whois · 19/05/2016 09:00

Why won't your children even own a home? Aren't they hard working? Don't they hold down decent jobs? Why not? What choices did you or they make that has prevented this? Why don't they move somewhere where property is cheaper if they wish to own a property? Get a 2 up 2 down back2back in Leeds for £50k. You can afford than on minimum wage if you work hard and save hard and prioritise saving.

specialsubject · 19/05/2016 09:01

And do pay attention. Landlords are regulated.

Just save effort and type ' I hate landlords' ...

whois · 19/05/2016 09:02

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

MrsJayy · 19/05/2016 09:02

We have a flat that is our penson i dont work and dhs work pension is buttons the days of big pension payouts for ordinary people have gone

ThatsMyStapler · 19/05/2016 09:02

Some people dont want to buy houses, some people do
There will always be landlords and tennants.

Looking at this individual, i'm not sure why you have picked on him - surely you should have more issue with people rattling around in mansions on their own, or owning many many properties, or rich foreign nationals buying places and leaving them empty for tax reasons? All I see in him, is someone who has worked hard (from what i can gather from the article) and bought some properties.

YABU

Other countries are not as obsessed as the British about owning your own properties.

shovetheholly · 19/05/2016 09:03

I agree with you OP - I think we need to demarketise housing in both rental and mortgage sectors and return to a system of publicly owned houses.

The issue goes way beyond buy-to-let landlordism, though (many of the people doing that are simply trying to compensate for low interest rates on other investments)- it's also about the mobility of global capital, and the way that housing (particularly in the south-east) is viewed as a 'safe haven'. And it's about the anachronistically aristocratic system we have of land ownership, and the untaxed uplift that developers profit from as a result of the granting of planning permission by the state in the public's name. There are complicated circles within circles, in other words!

It's not a popular view on this site, though it is one shared by very many of the academics I know who specialise in housing and planning!

Just5minswithDacre · 19/05/2016 09:04

Why did you choose to have too many children than you could support? If you'd only had one you could have chosen to help them onto the property ladder potentially. Or chosen to work longer hours as child care wouldn't have been so expensive.

Choices choices choices.

Don't be a dick whois. "More children than you can support" does not equal "more children than you can buy starter homes for"

AnUtterIdiot · 19/05/2016 09:05

This reply has been deleted

Message withdrawn at poster's request.

Waltermittythesequel · 19/05/2016 09:06

It's an automatic win the moment people resort to calling you 'jealous' (on no evidence)

What would you call it then?