According to @Lopéz you just need to
- Rent a cheaper house
- Move to a cheaper rental area
- Get a better job
- Houseshare
And boomers wonder why millennials are bitter towards them..
- Thread starter Scam
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Soldato
According to @Lopéz you just need to
Simples…
- Rent a cheaper house
- Move to a cheaper rental area
- Get a better job
- Houseshare
Moving somewhere for work is a super common thing that people do surely
Edit: And houseshare is fastest way to get on your feet in a new area and is also super common thing to do!
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What's so unreasonable about those?According to @Lopéz you just need to
Simples…
- Rent a cheaper house
- Move to a cheaper rental area
- Get a better job
- Houseshare
1 - Why don't we ask @MadMossy ?
2 - They're not arguments against the fact that rent is increasingly unaffordable in this country, which is what @Lopéz was trying to prove. It's exactly like pointing to the stats that show how earnings to house prices have shot up from 3x to 9x in the last few decades and someone turns around and says 'well move somewhere cheaper'. It's not a solution, it's a sticking plaster on a very serious problem. The affect of this problem is that many people in their thirties are actually making the economic decision to move back in with their parents.
Honestly I don't know why people feel the need to argue against what is a very clear housing issue in this country. It's widely reported on all sides of the media, it's common sense that earnings to housing affordability is massively going in the wrong direction and young people are struggling. What exactly are you trying to prove by disagreeing with that?
Soldato
No disagreement that houses are expensive and stuff by the looks of that. But it's not very likely to change or something we can influence - so only option is to recommend doing things to help get on the ladder, such as lowering living costs / increasing earnings. If you live somewhere with no jobs for example or really poor pay - are you going to just accept it and hope it gets fixed - or move?
Oh I'm not for a moment claiming there isn't a crisis, it's more what are you going to do or what do you have the power to do to fix it? You can either wait and hope it all gets better, or do one or more of the things Lopez suggests.1 - Why don't we ask @MadMossy ?
2 - They're not arguments against the fact that rent is increasingly unaffordable in this country, which is what @Lopéz was trying to prove. It's exactly like pointing to the stats that show how earnings to house prices have shot up from 3x to 9x in the last few decades and someone turns around and says 'well move somewhere cheaper'. It's not a solution, it's a sticking plaster on a very serious problem. The affect of this problem is that many people in their thirties are actually making the economic decision to move back in with their parents.
Honestly I don't know why people feel the need to argue against what is a very clear housing issue in this country. It's widely reported on all sides of the media, it's common sense that earnings to housing affordability is massively going in the wrong direction and young people are struggling. What exactly are you trying to prove by disagreeing with that?
Man of Honour
Which is exactly what I'm getting at.
Yes, I am aware the situation with regards to housing is suboptimal. I'm not sure it's a crisis, but it could definitely be better.
But it isn't something you can fix - you can't press a "HOUSING RESET" button.
You can influence it through voting and lobbying and whatever else, but you cannot directly change the situation.
This gives you options
1) Accept it and make sacrifices to optimise it (Make sacrifices, get a better job, houseshare, move, rent a property below the local average, leave the country, limit outgoings by changing lifestyle)
2) Accept it and don't make any sacrifices (Stay at home - see @FoxEye et al)
3) Bitch about it and build up bitterness towards a generation who made the most of an opportunity presented to them.
I just don't see what 3) is giving you. Wandering about, telling anyone who will listen how unfair it all is... just seems like a complete waste.
Yes, I am aware the situation with regards to housing is suboptimal. I'm not sure it's a crisis, but it could definitely be better.
But it isn't something you can fix - you can't press a "HOUSING RESET" button.
You can influence it through voting and lobbying and whatever else, but you cannot directly change the situation.
This gives you options
1) Accept it and make sacrifices to optimise it (Make sacrifices, get a better job, houseshare, move, rent a property below the local average, leave the country, limit outgoings by changing lifestyle)
2) Accept it and don't make any sacrifices (Stay at home - see @FoxEye et al)
3) Bitch about it and build up bitterness towards a generation who made the most of an opportunity presented to them.
I just don't see what 3) is giving you. Wandering about, telling anyone who will listen how unfair it all is... just seems like a complete waste.
What makes you think I'm not doing anything else about my personal situation. As I've said many times in this thread I'm actually not in a bad position at all, I just don't like the unfairness of what the younger generation have been dealt when it comes to housing and the economy.Not-only is it unfair much of the younger generation have to spend just for a roof over their head, but in doing so we are watching the boomer generation get richer and richer. It's the polar opposite of how society should work.
Then you're naive or at worse ignorant. You can Google 'housing crisis' and get 3 different mainstream newspapers calling it that, plus all the other sites. It is a crisis whether you think so or not, all the media agrees.
Again, just because I moan on here doesn't mean I've not done plenty to remedy my own situation. I'm doing everything from saving hard, cutting my own costs… to lobbying my MP.
Soldato
@Scam just noticed your location - it's is an absolute bitch down here but is possible.
Took us about 5 years of hard saving while renting to do it in London - was not fun at all and was our number one goto topic to moan about for most of that time. Its worth it though - and it'll happen eventually if you keep going at it.
Took us about 5 years of hard saving while renting to do it in London - was not fun at all and was our number one goto topic to moan about for most of that time. Its worth it though - and it'll happen eventually if you keep going at it.
For sure we'll get there. Like I've said the point of this thread is just to point out the ridiculousness of things like my neighbours' house "earning" them £700k over 14 years!
This made me laugh, cheer up everyone it's almost the weekend.. https://www.thedailymash.co.uk/news...ont-want-to-give-you-a-deposit-20201022201741
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So not really anything to do with Boomers and Millennials then; just venting about the fantasy of reasonably priced and social housing?
earnings to mortgage payments is a fairer measure, prices may be higher but mortgage rates aren't 17%
I'd rather be paying 17% on a 50k mortgage, than 3% on a 300k mortgage any day, at least house prices would be a lot cheaper and high mortgage rates are likely to come down to pay off quicker, not have one of these 35 year mortgages and debt for life.
Soldato
@Scam what would you like to know?
I have looked elsewhere and even in the North I am very unlikely to find to a similar sized property (2 bed flat) for the money I pay, it's already 30-40% below the market rate for my area, and it certainly wouldn't come with a coastal view like I have.
I have looked elsewhere and even in the North I am very unlikely to find to a similar sized property (2 bed flat) for the money I pay, it's already 30-40% below the market rate for my area, and it certainly wouldn't come with a coastal view like I have.
I've barely been in my current job for a year and I've already forgotten what it was like to be in this position. I don't think I could ever go back to before having like £400 - £800 to play with each month after paying rent, bills and into an emergency funds account and another £200 into savings
I absolutely do not miss having to borrow money if I so much as wanted to go out for a drink
But millions of people cant move though. There isnt the space for started and then the area they are moving to, either the house prices/rent will shoot up due to demand or there wont be enough jobs so they can afford to live there anyway.
Plus some jobs are rural based like farm workers. They dont get paid a lot and I feel sorry for them in the small viallge of 400 where I live. half the houses in the village are holiday lets and most of the rest are owned and lived in by rich outsiders like me,.
Even the cheapest 1 bedroom terraced house now costs £100k, thats £5k more than I paid for my 4 bedroom detached house with 6 acres of grassland and woodland. They were only £30k when I moved into the village 20 years ago. Farm workers wages havent tripled in 20 years.
I suppose we could just bring in cheap foreign labour to do all these low paid rural jobs...........oh wait.
The thread is explaining why millennials feel bitter towards boomers when they were a generation that were afforded cheap housing*, which has shot up in value over time and made many ordinary folk millionnaires through no foresight or action of their own. This is something that simply will not happen to young people now, hence the bitterness.
*Amongst other things like decent pensions, free further education etc.
I 100% agree with you. I was playing devils advocate on @Lopéz 's stupid idea that all people need to do is try harder.. or something. I feel for ya.
How do those 'millionaires' realise that gain, though?
If anything, it means there's more in the pot for the inheritance. It's the generation after millennials that should really be worried.
Yes there's no indication that things are going to get better, and plenty of evidence that things will continue to get worse.
Average house price being >11x average yearly gross income is already a reality in some places, and yearly house price inflation is more or less continual now.
Added to that the average rental cost being 50-75% of total income in large parts of the country..
The future is going to be interesting, no matter what.
I think we're going to reach breaking point one way or the other. What happens then? It's going to be carnage, I think that's a fairly safe assumption. Some radical changes coming down the track. What that will look like is the great unknown.
You sell up and move to a cheaper area and downsize (or not)
In my village, a house down the street which was 5 bedrooms, double garage and great views and large garden sold for £450k
The guy is a retired accountant from down south near London. He was telling me he sold his house for £900k and his partner sold her flat for £600k and they moved up here to live in the country. He also sold his accountancy practice.
They probably now have a larger house than they ever had and just over a million pound in the bank from just their house sales alone plus whatever he got for his business.
Thats part of their retirement pot. The guy is the same age as me.