The Under 30's generation.

[Harry Wilson's tackle]

I have a cracking idea, which I'm amazed no government has ever thought of.

Why not build some houses, and then rent them out at genuine low rents, so people can afford to have somewhere to live and maybe even over time have families, without having to work 24/7 just to survive - could be a vote winner!

Then 40 years later some chancer **** of a prime minister could sell them to the owners at knock down prices, overnight creating a new army of white-van-man working class tories!

 

[dazzer6666]

A tough few months or years? This demographic have had it tough from the minute they hit 8-12 years old! Our childhood was surrounded by the illegal Iraq war, fearmongering and 9/11 terrorist shite that pervaded all of society. Then, we grow into puberty and get confronted by the biggest economic collapse in 50 odd years and as teens we then have to deal with the broken homes and stresses this ends up dishing on us in our formative years. But then you get older, and get into the University you always wanted to go to, to study the subject you always wanted! Great! But wait, it's not great because now the degree fields are so over saturated due to such low loan costs that we get to deal with our loans being tripled from 3k to 9k overnight, by a Liberal Democrat party most of us voted for because they tricked us into thinking they'd cut those loans. So now you're on the hook, you deal with the fact that you're starting life almost 50 grand in debt, and with worse job prospects than many generations prior due to everyone and their nan having a degree so you have to rely on the old classic "who you know" method of getting a job. BUT you do get a job, awesome, you can JUST about afford to live in your expensive rental flat that you moved into because while wages have increased marginally in 20 years rental costs have skyrocketed and why not? We have loads of enriched older people who already owned their homes being able to buy another one, and then rent it out for double the value, must be nice!

But why not just buy your own home then, we did, just work hard and get the deposit together and you'll be fine if you stop being so lazy.... Except average house prices rose 152 per cent in the 20 years from 1995 to 2015, while net family income for our generation only grew by 22 per cent, good luck finding that deposit. BUT ITS NOT OVER! Because now, in your mid 20s and the supposed prime of your life the world has been decimated by the pandemic, its YOU that are mostly on the front lines working those "essential worker" jobs, its you that's coming home to an empty flat and quarantine and its now you that after 2 years of this, and giving so much to help will be left with the long term prospect of rising energy prices, food shortages and even MORE rising housing costs with far less freedom than the generations before you due to an EU referendum that was decided so heavily by generations that came before you, leaving you to pick up the pieces. Again.

This isn't a tough few months or years, this is the status quo for the millenial generation and will continue to be so for the foreseeable until we inherit the earth from the elder generations and hopefully we have something left to salvage from it all.

Nailed it. I left school at 18 with flunked A levels, stumbled into banking and kind of drifted through my career before retiring at 54, somehow managing to con my way into some reasonably senior jobs, hopefully meaning a relatively comfortable retirement. Only owned 3 houses (never lived in the first one) and was mortgage-free at 46. My kids are 28 and 23. Neither would have much hope of owning a property unless we help them out or they end up somewhere low cost. They’ve both had to get far better qualified to pursue what they want to do (youngest has a Masters, eldest - who has been on the Covid front line and is still hugely impacted by it - will finish one shortly) so have spent hundreds and hundreds of hours studying instead of going out on the lash like I did at their age. Both are on pretty crap (very crap in one case) wages but at least they’re doing what they want to do. Youngest lives with his GF (who is a special needs teacher - another job you couldn’t pay me enough to do) in a stupidly expensive rented flat because they wanted their own place.

 

[Eric the meek]

I live in Brighton. I think it's a great place to live. But so do many other people. That's why houses are expensive here.
Prices are set by the market. Many buyers are competing with each other for a limited resource.

Drive 9 miles to Newhaven (or Lancing etc - you get the picture), and you could save 50% or more on the cost of the same house in Brighton.
Sure, there are compromises involved, but that's what life is - one long compromise.

 

[BN9 BHA]

I live in Brighton. I think it's a great place to live. But so do many other people. That's why houses are expensive here.
Prices are set by the market. Many buyers are competing with each other for a limited resource.

Drive 9 miles to Newhaven (or Lancing etc - you get the picture), and you could save 50% or more on the cost of the same house in Brighton.
Sure, there are compromises involved, but that's what life is - one long compromise.

Maybe stating the obvious here but many of the smaller homes in parts of Brighton are now buy to let student houses.
The area of Brighton I grew up in, all the houses were families, young couples and some retired people, now most are student lets.
Local first time buyers don’t really stand a chance these days.

 

[B-right-on]

I live in Brighton. I t5hink it's a great place to live. But so do many other people. That's why houses are expensive here.
Prices are set by the market. Many buyers are competing with each other for a limited resource.

Drive 9 miles to Newhaven (or Lancing etc - you get the picture), and you could save 50% or more on the cost of the same house in Brighton.
Sure, there are compromises involved, but that's what life is - one long compromise.

Not so sure about that. A 3 bed mid terraced ex-council house in Lancing is still £300k which is 10-12x the average salary of a 25-30 year old.

 

[Weststander]

I have a cracking idea, which I'm amazed no government has ever thought of.

Why not build some houses, and then rent them out at genuine low rents, so people can afford to have somewhere to live and maybe even over time have families, without having to work 24/7 just to survive - could be a vote winner!

Exactly.

I’ve been party to discussions between BHCC or SDNP, where non profit making housing associations have been trying to do exactly that.

The planning authorities, councillors and nimbies still create near insurmountable obstacles, nimbies with councillors in the pocket (votes) fight every step of the way. As they would if it was Persimmon, Bovis.

They face an added problem of localities not wanting social housing on their doorsteps. Nimbies have all the incorrect preconceptions of drug dealers and criminals etc moving in.

 

[Guinness Boy]

Not so sure about that. A 3 bed mid terraced ex-council house in Lancing is still £300k which is 10-12x the average salary of a 25-30 year old.

How much is a one bedroom flat compared to the joint salary of a couple of that age?

Edit - had a look. There's one on Rightmove for 160K. Two adults earning 30k each that's less than 3x salary and you're on the ladder.

I got on in the late 90s when it was a lot cheaper but did it by me and my Mrs buying a dodgy 1 bed basement flat together.

 

[Milano]

This. And hyper inflation in the late 70s would have diluted the payments. Your parents paid £79,000 in modern money. My parents paid £3000 in 1966 for a three bedroom terraced in Queens Park. That's £60,000 now. They even paid it through an insurance and it was all finished by 1983.

They deserved it though, they were hardworking folk. Just fortunate that they were in a time of abundant housing.

I think the boomers had it best, and many will never see the future shit show.

Yet after benefiting from just about every break going they were allowed to vote us out of The EU as some ironic **** you goodbye. I said at the time that anyone who was no longer working and drawing a pension should not have been allowed a Brexit vote because it would not affect them. Of course that was never going to happen because if you took the nostalgic flag waving bullshit brigade out of the vote it would never pass and the ***** knew that.

 

[Chicken Run]

Yet after benefiting from just about every break going they were allowed to vote us out of The EU as some ironic **** you goodbye. I said at the time that anyone who was no longer working and drawing a pension should not have been allowed a Brexit vote because it would not affect them. Of course that was never going to happen because if you took the nostalgic flag waving bullshit brigade out of the vote it would never pass and the ***** knew that.

Not bad, 148 posts before Brexit is shoehorned into the thread [emoji2357]


Sent from my iPhone using Tapatalk Pro

 

[Eric the meek]

Not so sure about that. A 3 bed mid terraced ex-council house in Lancing is still £300k which is 10-12x the average salary of a 25-30 year old.

That wasn't what I was saying. I was saying that you can save 50% on the price of the same house in Brighton.

3 bed Victorian terrace in Fiveways, Brighton - 650k.
3 bed Victorian terrace in Newhaven - 300k
3 bed Victorian terrace in Lancing - 350k

Why are you expecting a single 25-30 year old on an average salary to be able to buy a 3-bed house anyway?

 

[Weststander]

Oh, quite. The lenders made us plebs feel like scum. But the gap between income and house price was hugely different from what it is now. I think my dad's first house was somewhat less that 3 times his salary. When I bought my house (age 32) the price was around 3-4 times my salary. The average house price in Faversham now is fifteen times my son's salary (he's 36).

To that it’s vital to add in interest rates, and therefore interest repayment levels.

1970’s mortgage rates averaged 11%, peaking at 17% (peaking even higher than our ‘friend’s’ in 1992).

Mortgage interest rates tomorrow of 11% would bankrupt countless millions.

Balanced against that, as you say, are astronomical house prices in southern England.

 

[Thunder Bolt]

Yet after benefiting from just about every break going they were allowed to vote us out of The EU as some ironic **** you goodbye. I said at the time that anyone who was no longer working and drawing a pension should not have been allowed a Brexit vote because it would not affect them. Of course that was never going to happen because if you took the nostalgic flag waving bullshit brigade out of the vote it would never pass and the ***** knew that.

Yes a large percentage of pensioners did vote for Brexit but please do not lump us all into one bracket. There are lots of us who are very much in favour of the EU, as a peace project, trading etc etc.

Back on topic, don't generalise.

 

[Guinness Boy]

Not bad, 148 posts before Brexit is shoehorned into the thread [emoji2357]


Sent from my iPhone using Tapatalk Pro

Since it has a material, ongoing affect on the economy it's relevant to any discussion to money and living standards. It didn't just finish when the polls closed in 2016. Everyone needs to live with the consequences, good and bad.

Perhaps you object because you're regretting your choice?

 

[Milano]

There isn’t a numerical housing shortage, the problem is people being allowed to make a career out of buy to let. It shouldn’t be an option.
My opinion is that every person should be allowed to own one buy to let property taxed at the current rate, any additional properties I’d tax them at 90%
It won’t happen because the housing market would crash, it’s too late.

 

[Eric the meek]

Exactly.

I’ve been party to discussions between BHCC or SDNP, where non profit making housing associations have been trying to do exactly that.

The planning authorities, councillors and nimbies still create near insurmountable obstacles, nimbies with councillors in the pocket (votes) fight every step of the way. As they would if it was Persimmon, Bovis.

They face an added problem of localities not wanting social housing on their doorsteps. Nimbies have all the incorrect preconceptions of drug dealers and criminals etc moving in.

And yet the council can get away with transforming Lewes Road into a mini Manhattan for the juicy student let market. It has changed the look and feel of that area forever.

 

[Harry Wilson's tackle]

Yet after benefiting from just about every break going they were allowed to vote us out of The EU as some ironic **** you goodbye. I said at the time that anyone who was no longer working and drawing a pension should not have been allowed a Brexit vote because it would not affect them. Of course that was never going to happen because if you took the nostalgic flag waving bullshit brigade out of the vote it would never pass and the ***** knew that.

It didn't help that slightly younger absolute thunderc***s (like two people on NSC) were relentlessly promoting Brexit to the uncommitted older voter who didn't have a dog in the fight, other than their nostalgic flag waving imperative, and their generational racism.

 

[The Clamp]

I see a lot to talk about creating safe spaces at work. I read a lot about how much harder it is for the younger generations. How we must help them through exams, find them a workplace with gender neutral toilets, provide opportunities to talk, tell them that they deserve a place at University even if they haven’t done the work. But you know who I see just getting on in life, buying property and enjoying life? All the young lads going into trades, getting on with it and not thinking about it all too much.

Now, let me qualify that; if one wishes to have a creative career in the arts or wishes to prioritise travel and just work their way around the word etc or just wants to drift a bit? I am 100% behind that. Tried it myself. But don’t complain when you then can’t afford the big house, the cars and the holiday.

Having said that, it was just plain cheaper to buy houses 40/50years ago. And that’s factoring in the economy and inflation.

I knew the risk I was taking and I had a great time doing it but didn’t come out with much. Playing catch up now to a degree. I don’t regret it and don’t complain about it.
I got offered an apprenticeship at an engineering company on leaving college, turned it down to train in a creative industry. It worked out okay-ish but I’d be a lot better off if I’d done that apprenticeship.

It’s the pay off. I had a blast. But came away without much. But whatever one does, one simply must graft.

 

[Eric the meek]

There isn’t a numerical housing shortage, the problem is people being allowed to make a career out of buy to let. It shouldn’t be an option.
My opinion is that every person should be allowed to own one buy to let property taxed at the current rate, any additional properties I’d tax them at 90%
It won’t happen because the housing market would crash, it’s too late.

LOL. Good wind up.

 

[Harry Wilson's tackle]

There isn’t a numerical housing shortage, the problem is people being allowed to make a career out of buy to let. It shouldn’t be an option.
My opinion is that every person should be allowed to own one buy to let property taxed at the current rate, any additional properties I’d tax them at 90%
It won’t happen because the housing market would crash, it’s too late.

I remember 15 years ago on the outskirts of Macclesfield where I had a connection some bloke was buying propery after property and letting them out, realizing that the rental income more than covered the mortgages. Once you crossed over a certain income threshold then it was basically free money if you kept on your toes.

A couple I know, who have no pension, have been buying and letting for years (no more than 3 properties on the go at any one time). Certainly for a while this was being done in a way that the tax 'implications' were being 'bypassed' (which is pretty easy to do if you are brazen).

Personally, being a bit weird perhaps, I find buying to let to be fundamentally immoral in the UK. It is a different arrangement on Germany (or was) where renting is so much more the norm.

Thatcher brainwashed us all into thinking that if we didn't own our own home we weren't 'real men'. The effect was seen on NSC not so long ago with someone close to dispair over the issue of home ownership. So sad.

 

[Seagull on the Hill]

.
Those born a couple of years after me have had five years of pensions stolen from them by this ‘caring’ government. !

The disparity between the respective retirement ages for women and men had to be rectified, or men could claim that they were being discriminated against.