Home ownership in England at lowest level in 30 years as housing crisis grows

[PurpleGorilla]

Maybe if they spent a bit less time taking "gap years", upgrading their tablets, getting tattoos, and chasing pokemon then they might be able to rustle up a deposit that bit quicker?

Let them eat brioche.

[Mordac]

Let them eat brioche.

And if Waitrose won't let them in, brioche is most likely off the menu...

[NigelJK]

You seem to be ignoring the fact not everyone earns enough to get a mortgage on a lifestyle property in a city and I'm talking about people on combined salaries for whom money is tight already.

FTFY.

[sirja]

The poor are going to get much poorer post-Brexit.
But that was totally predictable.
Meanwhile for lawyers/management consultants there's the Brexit negotiations gravy train. Toot toot!

I am actually thinking of doing a crash course in international trade. Maybe a quick read of 'Trade deals for Dummies'. It's going to be like Y2K all over again in that area. "Can you spell WTO? Ok your hired as a trade negotiator on £1000 a day"

[LondonManc]

Youngesters won't earn enough to save for a deposit. Typically you want 15% before you buy a house; saving that sort of money is going to be difficult, let alone obtaining a mortgage for the rest of it.

[SueEllen]

Youngesters won't earn enough to save for a deposit. Typically you want 15% before you buy a house; saving that sort of money is going to be difficult, let alone obtaining a mortgage for the rest of it.

The point I was making.

And no I'm not talking about lifestyle flats or whatever in the "city". I'm talking about flats in dodgy parts of Croydon and similar.

[PurpleGorilla]

The point I was making.

And no I'm not talking about lifestyle flats or whatever in the "city". I'm talking about flats in dodgy parts of Croydon and similar.

Exactly.

It's the result of other people's greed pure and simple.

Greed of the politicians.

Greed of the developers.

Greed of the NIMBYS.

Greed of the BTL.

Greed of the bankers.

Greed of the boomers.

[OwlHoot]

Mainly it is because the yoof of today simply will not commit to anything.

So they rent on the assumption that in three years time they will be on the hippy trail, head full of zombie.

Yet sadly they are still struggling to make middle management in insurance.

If they had made the decision three years ago to buy instead of rent they would be fine.

What a load of tulipe.

[LondonManc]

The point I was making.

And no I'm not talking about lifestyle flats or whatever in the "city". I'm talking about flats in dodgy parts of Croydon and similar.

I suppose the other side is that we're now in a society where immediacy is important. That extends to a lot of youngsters simply not caring about saving the deposits for their own places and being happy enough to rent, then worrying about where they'll live long term later on in life.

[original PM]

The point I was making.

And no I'm not talking about lifestyle flats or whatever in the "city". I'm talking about flats in dodgy parts of Croydon and similar.

The Uk consists of many many places - not all of them in London.

Maybe if you cannot afford to rent down there try finding a job in a different place of the country and you know see what salaries you could get, see what the property market is like and then you make that change.

I am not saying it easy to afford your first house but what I am saying is there are many things you can do to make it easier and some of those are to extend your horizons.

Remember you are entering into a 25 year mortgage you maybe need to not put things like 'next to Joe's trendy hipster Bistro' and near the Vegan Yogo society as really that high on your list of influencers when looking at where to live.