Wage inflation

[AtW]

I'm sure even you can see that if you were earning £35k now (and most young people earn a lot less than that), and paying £12k in rent, you wouldn't be able to save 50% of your net earnings.

Cretin - I am paying now £1k in rent, when I earned £35k (2000 onwards) I paid around £300 per month renting room until 2006 when I rented whole house for £600 (my friend moved out so I had to take over).

Just prior to move I did not want to pay more than £750-800 and there were plenty of flats/houses available, problem was that quality jump was THAT much more for extra £200 that I had no choice but to go for it.

[doodab]

When you have 0 left every month you need to do 2 things:

1) earn more
2) spend less

When I came to this country I lived in a shared house renting just one room for around £60 per week or so. Even when I earned £35k (permie) I kept renting room for some years - this helped me save enough to get SKA off the ground without begging "dragons".

Now I live in £1k rented very nice place but I am still not stupid to get into debt only to "own" house - I am sure I will soon regardless of what rates do, but without proper deflation of house bubble millions of others won't have a chance to proper own the house.

Cretin - I am paying now £1k in rent, when I earned £35k (2000 onwards) I paid around £300 per month renting room until 2006 when I rented whole house for £600 (my friend moved out so I had to take over).

You really can't see any further than your own situation can you?

I have a suggestion. Instead of talking to me, go and find some thirty something, forty something people earning average wages who have saved for 10 years and 5 years ago bought an overpriced house they can just about afford which is just about big enough to start a family. Now go and tell them they should be living in a rented room for 60 quid a week and forget about falling in love and getting married and starting a family and having a normal life.

We can't all be like you Alexei. Some of us are normal.

[shaunbhoy]

Cretin - I am paying now £1k in rent, when I earned £35k (2000 onwards) I paid around £300 per month renting room until 2006 when I rented whole house for £600 (my friend moved out so I had to take over).

Just prior to move I did not want to pay more than £750-800 and there were plenty of flats/houses available, problem was that quality jump was THAT much more for extra £200 that I had no choice but to go for it.

We will all have to forgive alexei his little bout of ranting on this topic. Despite never having HAD a mortgage, he regards himself as an expert upon them. As indeed he does with so many other assorted topics he has had no real world experience of.
Issues like taking on a spouse and having kids, and the financial pressures such choices might bring about, are other matters he spectacularly fails to factor in.
Newsflash for AtW! Not everyone would be happy sitting in a bedsit surrounded by droning servers, autographed squirrel posters, and enough potnoodling material to cater for the US Pacific Fleet!
For as long as he has been on here he has been whining on about a massive houseprice crash, solely in order that he can get himself onto the property ladder, thereby losing the stigma of "renting loser".
Tragically, even if he ever WERE to take the plunge, he would still be shackled with the stigma that he earns just through being an utter twunt across so many levels!

[zamzummim]

Why is ATW banned?

Also he's been repeating this for the last 8 years or so.

When he wasn't working and getting SKA off the ground, he signed up on benefits!

Did SKA actually get off the ground?

[SueEllen]

B0ll0x - UK imports most of stuff (food, fuel, products in shops) - Germany can benefit from weak euro, but not UK from weak pound.

There are actually small exporters in the UK who are benefiting by the weaker pound.

But as you don't mix with many people from different sectors of society you wouldn't know that.

20-25% deposit was norm just a decade ago, wtf you calling it big? That's the whole point of having high savings rate - safety in case something happens and also helps you safe to buy a house. Keeps house prices under control too by limiting amounts banks can lend - limiting debt expansion and avoiding printing money (debt is just indirect way of doing it) are the two key things that help control bubbles.

I have friends' and acquaintances in their early 40s who managed to get 95% mortgages from 1995.

Also one of my brothers' about 1993 got a 125% mortgage and it wasn't rare.

The only thing that was stricter were mortgage multiples however I have met plenty of people who managed to get around this.

Though the majority of people I know have no problem doing 2 jobs or unpleasant jobs to prop up their business or to ensure they can pay their mortgage.

Rents are stable in my area but good places are in shortage, so I am paying now £1k per month

You don't live in London though.

[Coalman]

Alexi - most mortgage rates have stayed constant around the 5-6% because what the bank charges and what the BOE are two different things.

Its only lucky buggers who took out an offset mortgage at 0.48% above base rate that are in a good position.

Cost of living has increased for everyone by 10%+ in the last couple of years, that will eat into anyone's capital reserves.

Single people living by themselves are insulated from a lot of these changes. I was rich then when you take into account disposable income, now with wife and two kids I could not live on what I was earning then. I am lucky to have trebled my gross income when I started contracting 5 years ago. This has provided a buffer.

Your expectations of what people are able to save are not based on the real world.

I'm rambling and your an idiot.

Goodnight.

[SueEllen]

Why is ATW banned?

Also he's been repeating this for the last 8 years or so.

When he wasn't working and getting SKA off the ground, he signed up on benefits!

Did SKA actually get off the ground?

He's a benefit scrounger.

[scooterscot]

Britain is an expensive country, there's not not much 'wriggle room' for most people.

WHS +

From the expat perspective it's unbelievably expensive. Tax is a major burden, why is it so high considering the standard of living?

VAT 20% - I feel sorry for my UK clients every time I write an invoice.

I bought a pizza last night lively italian restaurant, 7 euro. Pizza express £14. WT smeg??!

Train services a profiting out of misery.

The country is in a fair state to be sure it'll take decades to get back on track.

I'll come back home when Scotland has detached itself from Westminster.

[doodab]

I'll come back home when Scotland has detached itself from Westminster.

Yes, I'll be happy to head back to London when that day comes

[zamzummim]

He's a benefit scrounger.

He was....

The oldies here would remember that he was also very anti contracting, he thought it was unethical lol

Always been anti house buying and mortgages. But that's fair enough, there are many countries where people rent all through their life time, so that is the norm in many places.