to reaally not be able to understand why, people say they can't afford to buy or rent a house if they are working?

[iamtrickyjigsaw]

i mean me and dh don't earn much, but we managed it just about.
i just can't understand all these peple on here saying i can't afford rent or a morgage.

of course i can understand why disable people etc can't and of course they should be seen right.

You might be able to afford to make the repayments on a mortgage but you have to find a whopping 10% deposit - which is almost impossible to save for if you are already having to pay rent and bills

Because in an ideal world, you should only pay something likke 20% of your income on rent...

And you say you manage, 'just about..'

The point is that you shouldn't have to - you shouldn't have to struggle to pay it..

that should say whopping 10%-25% depposit

I think for some people the deposit for a rented flat/house is hard to come up with.

I'm not sure there's much to understand, really. Some people just don't earn enough to pay a mortage or private rent, unless they move somewhere very remote where the prices are lower (and where they are also miles away from sources of work).

And as more and more people are pushed out of the housing market, the more the demand for rent accomodation increases which pushes rent up

well, TrollskyMcTroll, it may be because people on low wages live in areas where house prices, and consequently rents, far outstrip the average wage.

in addition, have you tried to get a mortgage recently, TrollskyMcTroll?

the restrictions have gotten a bit tighter.

so that a person must have at least 10% and often 20% of the value of the home to put down as a deposit and can only borrow 3x their salary.

so let's just say, TrollskyMcTroll, that a couple earns £25,000 between them. but the average home in their area is £200,0000.

it doesn't take a rocket scientist to realise they're not going to be able to buy anything.

back under that bridge now before the next area of low pressure moves through and pours more rain on you.

I think a lot of people are not willing to save for a large deposit. They would rather spend their savings on fancy holidays, cars etc.

Back in the day, if you were saving for a house, that was the only place your non-discretionary income went.

well we only earn 25k a year between us.
our income is about 1700 a month, our morgage is 700 a month its a 30 year morgage though

TrollskyMcTroll

Not every job pays the same amount. Some people work 60 hours a week but don't earn as much as others who work half that amount

PMSL at Expat

'I think a lot of people are not willing to save for a large deposit. They would rather spend their savings on fancy holidays, cars etc.'

Comments brought to you by the Daily Mail Readers section.

You are all on form today, folks!

And comments brought from the Morning Star....

Squeaky - If you are paying out for rent, food and bills how the hell are you meant to save??

We were lucky and my parents were able to help us pay our deposit. Without them we wouldnt have stood a chance of saving for a deposit - and we never went near a luxury holiday or fancy car

well we are definatley low earns.

well we are definatley low earns.

earners

Squeaky also admits to having bought their first house off the council, IIRC, in the other thread.

Bet that involved saving a helluva a deposit on top of paying top whack in rent . . .

You know, these have become the replacement for all those benefits-bashing threads of the past!

Vive le recession!

i can see the point that if you have no spare money you can't get a deposit together.
we where lucky in that we saved up when we lived with parents so we could get a deposit.

sorry i am not trying to bash anyone, just honestly trying to find out about others struggles.

If rent, food and essential bills is all you are paying for and have nothing left over, then it is going to be hard to save for a deposit.

In reality, most people have some discretionary spending that could be diverted if they so chose.

Hard in the era of instant gratification though.