To wonder how the next generation will buy a house

[macaronitoni]

Surely there needs to be a massive overhaul of the system. A new build home with two bedrooms on a new development nearby is £315k. Not London. Midlands. Who’s going to be buying that? Too small for a family with more than one DC but way out of budget for most first time buyers.

Without significant family help, how will today’s children and young people manage to buy a house? Something has to change!

fashion not radios!

It's also not great for cities like London to have circumstances where young people can't afford to live or stay. You need the youth for progression.

I think she's merely stating facts. Unless you think you are immortal.
Your generation are the biggest owners of property assets too.
Nothing to do with your volunteering efforts (which other generations do too)

We were lucky in that we bought in 1999.
In 4 years the mortgage should be paid off (we will be 55 and 54).
No parental help given and we had second hand everything.
BUT our 95% mortgage meant our deposit was £2.5k. We were pretty poorly paid back then but could still buy a 3 bed semi (midlands).
No idea how young people today will do it without considerable financial help from parents/family.
Dc have some money we saved for them in a junior isa and I'd like to think we will be able to give them more once we retire.
They will need to live at home for some time to save a deposit.

I don't think that it will work like this.

Working age Boomers have been replaced by immigrant populations, many of which have large families. The population of the uk will not be going down any time soon, it's likely to continue going up.

I think 2032 is the year that is pointed out in articles I've read.
It's not nasty.
It's fact.
Your generation isn't immortal I'm afraid

*There are predictably a few posts saying it is 'doable' because their son/daughter/friend's acquaintance's DC did it- but what they don't acknowledge is there's always a particular set of circumstances involved.

Whether that's inheritance, the ability to have lived with their parents in adulthood (rent free or otherwise), or because they were lucky enough to happen across a decently enough paid job somewhere where housing costs considerable lower than the national average.*

Not true here. I have now had some inheritance from grandparents, but when we bought our first house in our twenties we had no family help, couldn’t live with our parents so rented in an expensive part of the country, and had to work hard at school and university mounting up loads of student loan to get decent jobs. I had part time jobs all the way through studying and saved whatever money I could, no expensive cars or fancy holidays, no new clothes all the time. It definitely can be done and has/is being done by many young people. It takes a bit of resourcefulness and the right attitude.

Have you any idea how many families are living perfectly reasonable in 2 bed properties?

Why are you presenting this as some sort of hovel or shed that people cant fit into?

Two teachers, two nurses, two police officers etc could easily afford that house.

And if they cant there are huge areas of the Uk where two people earning minimum wage can afford a 2 or 3 bed house, there has been thread after thread about it.

Young well educated people are leqv9ng the UK in droves.
Huge brain drain after Brexshit.
So I think you're wrong tbh

Working age Boomers have been replaced by immigrant populations, many of which have large families. The population of the uk will not be going down any time soon, it's likely to continue going up.

@MidnightMeltdown the population is going to start decreasing very soon. Why would you think it's going up? Do you know what birth rates actually look like?

For those that don't get it here's a breakdown.
I was on £80k (a pretty decent salary) partner on £25k
Monthly take home was £6k
Rent was £2k
Tube passes £600
Bills (insurance, electric, gas, Council tax etc £1000)
Student loan repayments £500
Living and discretionary costs(food, drink, clothes, going out, gifts, travel) £400
Saved £1500

It would have taken us 9 years to save the £160,000 we needed for a deposit

@benten54 people will just tell you to move to a cheaper place & pay less rent or shouldn't have gone to uni! There's a severe lack of critical thinking around the whole issue.

@Chevyimpala67

These numbers a minuscule compared to numbers entering. You need to look at net migration. Population will continue to rise.

Plenty of 2 bed terraced houses up here for sale between £100-£150k up here in Cheshire. Easily affordable for two people with no kids on reasonable salaries, just like us boomers did with no help from parents. If everyone stopped infantilising 18-25 year olds, they would work it out.

I would say there is a lack of critical thinking for someone who thinks they can afford something, that they....erm.... cant actually afford

Buy something within your price range, move into a bedsit to save more, move area. The vast vast majority of people cannot afford a property where the deposit is 160k!!! Let alone afford the deposit.

Link please? Every projection I've seen shows the population continuing to rise.

@MidnightMeltdown the only growth is based on forecasted net migration figures as we are ageing.

@MidnightMeltdown where is your link it's ever increasing?

And birth rates are only a small part of the story so that's not especially relevant.

www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationprojections/bulletins/nationalpopulationprojections/2020basedinterim

Your turn?

And birth rates are only a small part of the story so that's not especially relevant.

it's relevant when you say "immigrant populations, many of which have large families"...

Don't state this or you will be branded racist,racist, racist.

They don't want to save though, they want the latest tech, nice car, foreign holidays..

A uni graduate in a minimum wage full time can easily save £500 a month whilst living at home. Soon adds up after 4 or 5 years.

@MidnightMeltdown your ONS link only goes up to 2045 & it's basing increase in numbers on projected migration?

"UK population growth over the next 10 years is projected to be driven by a net 2.2 million people migrating into the country."

A lot of people relying on inheritance, you can kiss goodbye to that if the elderly relatives end up in a home with dementia for 20 years.