How to make property more affordable for the young?

[MicrosoftBob]

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.

It's more affordable than most areas where a small flat is more likely to be £200k in a deprived area

It's why I moved, broke after a divorce, do I want to live somewhere scummy near a big city, or get a big house with views to die for and a tiny mortgage with the downside of having to commute for work

[Ticktock]

It's more affordable than most areas where a small flat is more likely to be £200k in a deprived area

It's why I moved, broke after a divorce, do I want to live somewhere scummy near a big city, or get a big house with views to die for and a tiny mortgage with the downside of having to commute for work

I've accepted a longer commute to have a nicer area to live in. It's also cheaper than London (of course), but it is more expensive than if I was willing to live in either of the nearest large towns. In the process of buying at the moment, if our bloody chain is ever put together, and although in my mind the properties are all overpriced I guess all I can say is "it is what it is" and be happy that I can buy. A lot of the small flats and houses in the area are bought by divorcees, the retired, BTL etc, as young people just can't afford them.

[OwlHoot]

2015-06-11 For Millennials, The Homeownership Dream Is Dying

[tractor]

....

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?

Why is economics so tuff? That works for Trading Blocs, whole countries/regions, banks and governments.

[PurpleGorilla]

Why is economics so tuff? That works for Trading Blocs, whole countries/regions, banks and governments.

Pure and simply, the majority are shjte at maths.

[vetran]

Print more money, cover in clay, bake and build houses.