How to make property more affordable for the young?

[BrilloPad]

It is what they choose to do.

If they want the high-paid and full time jobs, they should work their arse off and be "smart", go to a Uni instead of throwing bottles on people's cars, breed like pigs for benefits and take cheap thompson holidays in magaluf.

My concern is that for some young people that seems the best way forward. I would like to give them hope that by working hard they will get somewhere.

Social mobility is going down in this country.

Its why I have told my kids to emigrate. To anywhere that FLC does not live...

[MicrosoftBob]

Exactly! Was going to make the same point.

But no doubt FLC will find some obsure part of the UK where one can buy a flat or terraced house for half that, never mind that it is 50 rural miles from the nearest city where most people need to be based to have a full time job.

Can get flats for about £60k near me, you can't need to earn much to get a mortgage that low

[BrilloPad]

Can get flats for about £60k near me, you can't need to earn much to get a mortgage that low

And are there any jobs round there?

[MicrosoftBob]

And are there any jobs round there?

Mostly low paid and tourism jobs, but surely even a naff job in Lidl would pay the mortgage for flat

Their seem to be a lot of expensive cars locally for a deprived area, they can't all be stolen

[Ticktock]

Mostly low paid and tourism jobs, but surely even a naff job in Lidl would pay the mortgage for flat

Their seem to be a lot of expensive cars locally for a deprived area, they can't all be stolen

Depends on the multiples you allow, and as we've been saying, just allowing people to borrow more doesn't solve the problem.

So, taking the 3.5x suggestion (as it used to be back in 2000), you'd need to earn about £17000, or under £1500 per month.
Do Lidl pay £17K? That's about £9.50 an hour full time.
On that rate, presuming that you're paying rent, can you save for a deposit?

[alphadog]

Slice 20% off all "green belts" (whatever they are) across the country on the side closest to existing cities and allow land owners to build houses on their land.

Job done.

[BrilloPad]

Slice 20% off all "green belts" (whatever they are) across the country on the side closest to existing cities and allow land owners to build houses on their land.

Job done.

It means a tough commute for those in the new houses.

[MicrosoftBob]

Depends on the multiples you allow, and as we've been saying, just allowing people to borrow more doesn't solve the problem.

So, taking the 3.5x suggestion (as it used to be back in 2000), you'd need to earn about £17000, or under £1500 per month.
Do Lidl pay £17K? That's about £9.50 an hour full time.
On that rate, presuming that you're paying rent, can you save for a deposit?

Can't be far off they were paying £8 an hours in the 90s on the checkouts up here

[Ticktock]

Can't be far off they were paying £8 an hours in the 90s on the checkouts up here

I guess wage growth really has been outstripped by inflation then.

Most of their jobs are part-time. They do have some full-time jobs for "Customer Assistants" (presumably till work). £7.30 - £9.50 per hour.

So those people may be able to buy a small flat eventually. So long, of course, as they don't spend money on any of those wasteful things such as food, rent, telephone, electricity, taxes, water, entertainment, etc.

[Bacchus]

Slice 20% off all "green belts" (whatever they are) across the country on the side closest to existing cities and allow land owners to build houses on their land.

Job done.

I like this plan - I could then sell off some of the Bacchus acres and retire wealthy instead of just comfortable (c: