Anyone else in their 30s and worried?

[NairobiGal]

Of course this might apply to other age groups but I can only speak for myself. I'm in my 30s. Saved and saved to get a mortgage which years ago would have been possible on my wage. Now, once I've saved enough to get a 5% mortgage, it's not possible and my savings are rapidly declining because my wage no no longer covers everything. I'm lucky to be in a position where I have a bit saved, as some of my friends have nothing and are getting further and further into debt. I'm worried that by the time we are out of this mess, if we are ever out of it, my savings will be next to gone, I'll be back to square one, and will be nearly 50 by the time I can save enough to get a mortgage. I know owning a house isn't the be all and end all, but I'm so disheartened that I spent all those years saving and it's now going on rent, groceries, fuel. Etc. Maybe I'm just feeling sorry for myself but I'm just fed up. For instance when my parents were on a similar equivalent to my wage when I was younger, they could afford a holiday every year. I've never taken my son on holiday and he's 4. I'm not entitled to a holiday but things have changed so much. I thought things were meant to get better for each generation. Not worse. I'm really struggling.

You're not wrong. The only reason we have a house is because DH's parents both died and we used the sale of that house towards it. So we have a house but our DC only have one grandma and grandad. We also in our 40: I think this is affecting a lot of people 45 and under.
Sucks that it's like this.

My son is 27 and saved hard for deposit. Then Covid came and he had to be put on furlough so only got 80 percent of salary. Put him back. He saved hard again almost had enough for deposit, now mortgage rates are through the roof. No kids to support. He has cut back on going out with friends and is no longer able to treat his girlfriend to expensive treats out. Trip to cinema as both have monthly subscriptions or cheap pub meal seems to be most dates lately.

Wow. Some of us have managed to get on the ladder, have lots behind us to cope with the present situation yet have the decency and humility to recognise that luck also plays a part in everyone's lives (yup, yours included), that it isnt all down to how wonderful we are and how lacking others are, and that being kind to others is important. Its a shame you aren't able to be more understanding along with your good fortune.

Well done for being brave enough to leave 💞.

You have the comeback skills of a flustered 14 year old.

@CurlsandSwirls agree with every single word you've said👍👍

And modest 😉

This is such a great post .Op is boarding her time machine and rewriting history as I write this.

Smug much?!

No. I've known for a long time that I'll never be able to buy a house, so nothing has changed for me. I'm grateful that I have a HA flat with affordable rent.

To those saying you should buy before having children this doesn't always help.

I bought my first house right at the peak of the previous boom and went massively into negative equity during the last recession, I lived in the house for 10 years before having to move due to the marriage breaking down, I have been renting since because we still had to sell the house at a loss which wiped out all the equity we had in it.

I have 2 children and have been saving like mad for the past 5 years and I am now very lucky to be buying the house I'm renting from my landlord, who agreed to sell £5K less than market value and managed to secure my mortgage just before the rates went crazy. I'll still have a few years of scraping by ahead of me, so it is possible but it's a hard slog and sometimes takes a bit of luck, but not completely impossible.

@CurlsandSwirls is absolutely right. My parents still often by my kids large costs items like winter coats or a pair of boots. They are very comfortable in their retirement

@blebbleb

nah

that’s just common sense

should have had an abortion so I could keep saving for a deposit and risk being hit with these mortgages rates and/or not being able to get pregnant again and end up with both hands empty

yeah, what a great hand our generation has been dealt

Its a shame an important discussion was derailed by a poster trying to shit stir. What @NairobiGal is saying is so true, the younger generation have been shafted by the comfortable older generation who by and large vote tory.

@Orangepolentacake

completely separate from your post, but I don’t think an abortion has been proven to have any kind of negative consequences for any subsequent pregnancies

Its not like it one gets pregnant at a completely unfeasible time they have to continue the pregnancy cos if they terminate they then won’t pregnant at a better time (For them and the foetus) later down the line

I doubt very much that you lead the marvellous existence you’re desperate for us all to believe you do. Someone who is fulfilled and happy and “thriving” isn’t as petty and unpleasant as you’ve been on this thread.

My dear, everything you say is completely correct. Two things in particular.

"I know owning a house isn't the be all and end all"

Actually, having a shelter IS! It is a basic human necessity.

"I thought things were meant to get better for each generation. Not worse. I'm really struggling."

You are completely correct here as well. Since the day you were born, the world has experienced economic growth, not decline. And that is PER CAPITA. So where have all the gains gone?

All is not lost though. You can probably manage to buy property if you cast your net farther.

@CCherylCrows Your a tit.

I had 2 kids, got married, had another kid and THEN we bought a house. Only this year but we did it so it's possible to do it the 'wrong' way around.

🙌

My apologies, you're.

There are two on this thread.

Exactly,
And I hate how these threads descend into posters adding insult to injury. They pore over your life and go

“There! That’s where you fucked up, and it’s so glaringly obvious to anyone with a modicum of sense you should have done x and not y. That’s why what happened to you happened and could never happen to me because I’m smarter/work harder/ make better choices”

Everytime someone has valid complaints about the housing situation and the cost of living crisis, some ass wipe always has to pipe up and go, it’s your own fault really, you had children you couldn’t afford…

Then the poor OP has to defend their life circumstances. The OP isn’t on trial fir being a feckless fool. She’s right to be worried. This is a crisis that is not her fault and so much is not in her control. Families are going homeless and hungry right now. If you’re lucky enough to be far away from the cliff edge, don’t confuse that luck with superiority.

@Annie232

probably best he saves his money for himself should he need any care, supported living etc in later life