To think that house buying is the norm in my world?

[Friendly1234]

NC’d for this, I was reading an article this morning about how ppl are finding it hard to get on the property ladder these days and I realized that literally every single one of my friends and family have been buying houses with relative ease for the past 10 years (I’m in my early 30’s!) so from what I can see it’s the norm to buy (and build houses) at around 24-26!! I wouldn’t say my friend have particularly high powered jobs either, most are nurses, teachers and have apprenticeships. A few even work in retail!!

What’s funny about not being able to afford to live in an area where you grew up? Or where your family live? Or where you are part of a community.

This, 100% ^^

Some people like to stay near their family and friends.

No wonder so many elderly people are lonely, if their families can't afford to live anywhere near them.

This is the problem of the media/politicians assuming if something is a big issue in the South East then it's an issue throughout the country, and similarly, if something isnt a big deal in the SE, then it's not an issue anywhere.

I live in the SE, every time we go back up north to visit extended family living in Cheshire we play the misery game of looking at the stunning properties in leafy suburbs near nice state schools, and sob at how little they cost. If DHs job wasnt SE based, we'd move. He'd have to do a different sort of role, the wage cut would mean we'd end up with a similar or worse lifestyle right now, if you aren't in that situation , I just cant see why you wouldn't consider moving.

OP, if you are from a cheaper part of the country, it's not surprising your only London friends are the ones who are wealthy enough to buy in London, if you have the pull of family elsewhere, youd only stay in London if it was definitely worth it career/wage wise.

That is happening in more and more places, see my last thread. The growth of Londonn is reaching further and further out across the country. Something has to change....

Oh! Freddie filled my North : South bingo card instantly don’t get it?

Can one get a mortgage for a boat? 😮 Even mooring costs work out same or even cheaper than service charges in a flat. It's sooo pretty!
www.rightmove.co.uk/property-for-sale/property-64173169.html

Your post sounds like you are boasting about what you have achieved. How about being a nice person instead?

My husband and I are in the north, in Yorkshire. I'm late 20s, he's early 40s, we both earn a fairly decent wage (40k combined). After rent and bills and childcare there's not much left to save fr a deposit. The only way we would ever be able to own a house is unfortunately when either of us receive a big inheritance. And frankly, I'd rather have my parents alive than own my home!

Freddie I may have misidentified you, if so I apologise. But read rubyroots post, that's the sort of thing I mean!

I agree with you op . Everyone in my immediate and extended family and friends have either bought or built their own home .
The only person ive heard complain about young people not being able to buy a house is one of my colleagues who was moaning about her daughter and house prices .
I did point out if you want to drive an Audi TT , spend a fortune on clothes because you cant wear the same outfit twice ( Facebook and Instagram ) and go travelling in Australia and New Zealand for 3 months , then it stands to reason a deposit will be difficult to raise . I didn’t say that but I was thinking it . I’m not a complete bitch .

Obviously London is different but then I don’t understand the mentality of average wage earners staying in an overpriced city simply because that’s were they were born . By all means stay in London but no one cares if by doing so you can’t buy a house .
Best bit of advice is to buy a house before you have children cause they screw everything up .

It will depend on lots of things:
Location of property
Pay to property value ratio in the area
Cost of rent whilst saving
Cost of living (essential) whilst saving
Cost of living (All the extras such as car upgrades holidays etc) whilst saving
How dedicated people are to saving
Any family assistance

Some people could afford a house if they were more financially sensible. Others it really is beyond their reach.

If I didn’t have siblings & parents in London I would move to another city asap. Yes we would earn less however i’m sure our lifestyle would cost less. We also save on childcare (still £700 a quid a month) due to mother & mil happy to pitch in however once the kids are older we may well live. Neighbours & colleagues who are not from London have moved back to Bristol, Manchester & Edinburgh over the last few yrs & one family are heading back to Liverpool soon. They have healthy budgets but for 800k-1m they want semi-detached, large gardens & off street parking & a city buzz.

I can understand not owning however in places like London. I wouldn’t even want to buy a house there though. Money pit!

My sister bought a house in south London for £201k about a year before the market completely crashed. She sold it two years ago (so about 12 years later) for £500k (full asking price, first people to view).

but property is still very affordable in many other parts of the country

"Affordable"
Yes, to those who can "Afford" them.

Let's say person A lived at home with parents, parents who could afford to charge little bond / rent etc, they studied at Uni, went abroad and worked for decent money, met someone that did similar, pooled their resources and bought a house.

Now, just try to imagine person B that didn't have that life, didn't have those parents, didn't meet that partner, couldn't go to uni or couldn't work abroad. I know it's hard to imagine that maybe person B couldn't buy a house and is having to rent.

It's all relative, OPs life isn't every one's life. Everyone's life is different and they all have different routes. Sitting with wide eyed wonder and questioning why other people with different experiences, different opportunities, different childhoods etc didn't do the same as you is stupid, illogical and a waste of time.

It's all relative, OPs life isn't every one's life. Everyone's life is different and they all have different routes. I suspect that was the point OP was making....

@CuriousaboutSamphire

I don’t think you did misidentified me, and I’m interested in why you think my opinion fits the north/south divide cliche?

My opinion is: that the op is smug, she’s of the option that it’s all about how hard you work, and if your priorities are the same as her then you should be able to have the same as her, ie a house.

Where I believe that firstly this is dependent on the area you live in, and whilst people could more the a cheaper area, it’s not always that easy.
But more importantly the ability to be able to by a house depends on so many issues, including but not exclusively to your education, family wealth, family support, sex, class and race, which all effect your earning power. These issues aren’t a north/south but an equlity issue. However the attitude of the op’s and examples of a budget of £160-250 would get you a castle in some areas and a shed in others, so it’s all relative to your area, so no need for the smugness.

Most people work hard.

we are young and we own a house therefore anyone who cant afford one is obviously feckless and lazy and have no one to blame but themselves.

Those are not my words....I never said that I said in my world home ownership is the norm, that is all!! I never called anyone feckless or lazy!!

There is no single 'The North' where all young people can buy houses for tuppence ha'penny and a whippet. There are parts of the North where houses are more affordable than in other parts of the North. But the UK housing crisis is not just limited to the London and the South-East, and home ownership rates have generally dropped everywhere since the early 2000s. You can look it up by region here - www.resolutionfoundation.org/data/housing/

Or look at this: www.bbc.co.uk/news/business-45776289

"The Institute for Fiscal Studies said house prices in England have risen by 173% over two decades.
But average pay for 25-34 year-olds has grown by just 19% over the same period.
In 1996, 93% of those with a deposit who borrowed four and a half times their salary could purchase a home but that fell to 61% in 2016."

I grew up in The North. For the friends I know still living there, it's about 50/50 whether they've bought a house or not. Most of the ones who haven't would like to but can't afford to. This is really not massively unusual, although it may not be the case in any particular "why yes I lived with Mummy and Daddy rent-free after uni, but no I had no family help to buy!" circles.

Im in Cornwall. Very few people in their 20s-mid 30's own their own home. People leave the county in there 20's to go to uni or train etc, then want to move back to be with family but can't afford anything as housing prices are pushed up by second home owner prices and yet low wages. Lots of people move bak in with their parents or mortgage an extension if there is the room.

Oh! OK.

I say that becasue your post, and that one, is what uysually happens. Someone starts on about the OP being privileged, absurd, naive, smug etc.

It could just be that her life experience is entirely different from that depicted in the article she read and she has no common ground with it. That doesn't mean she is any of the things you assert.

But it does seem to happen with boring regularity. Maybe, instead of knowing you are right you could consider the possibility that OP is just different from you, has a different life experience and understands your issues about as much as you do hers.

TALK instead of maligning!

That might be why she posted...

So the upshot is that some young people struggle to get on the property ladder because:-

1. Some parts of the country have high property and rental prices
2. They have no access to the Bank of Mum and Dad
3. They didn’t prioritise property ownership
4. They couldn’t live at home for an extended period at low cost
5. They couldn’t work abroad

Other young people can access the property market because some or all of the above don’t apply.

Don't worry Friendly most posters know you didn't... that's part of the Bingo I mentioned.

Total rubbish. Renting stats will tell you otherwise! Im late 30s, I rent, no kids, could afford a mortgage but dont have enough deposit despite living in the 'north'. I have a good job, but can only work pt due to health issues. Cant live with family or be gifted a deposit..and wouldn't expect to be! I'll keep saving for a deposit but it's likely to be a few years still until I can afford to buy something v modest. Hope that helps

Chaz Yep! I think that covers it!

My husband and I live on the north west/midlands border, he’s 36 and I’m 30. There’s no chance anytime soon of us buying a house, we don’t have any money saved. On low salaries but the jobs work around sons childcare. Houses round here are cheap, but still out of range.

I moved out at 18 for uni and never went back. So that’s 12 years paying private rent and full bills.

None of my friends own their houses, some are still living at home or have just started renting privately or through the council. None of them seem too worried about it, and it doesn’t bother me too much. I quite like the ability to just move when I like and have someone fix stuff for me

Ah.

1. Other variables intervened (e,g, ill health)