It's a trap!!!

[AtW]

House prices and rent in England to surge by 2020, warns report

Housing federation says 3.7m young people will be forced to live with parents as housebuilding and wages lag behind

House prices in England will soar by 42% by 2020 and rents will rise by even more, according to a report from the National Housing Federation which warns of the "colossal strain" facing the generation born in the 1990s.

Many will remain trapped in their parents' homes as property prices continue to outstrip earnings, warns the NHF. It forecasts that 3.7 million young people will be living with their parents by 2020, as the rate of housebuilding fails to keep up with the rising population.

"By 2020 the price of a first-time buyer's home will increase by 42% to £245,165. Although wages for 22- to 29-year-olds will increase by 36% by 2020, this poses a huge challenge for those wishing to be homeowners. Low-earning young people would have to spend 16 times their average wage just to buy a home," said the NHF report.

Source: House prices and rent in England to surge by 2020, warns report | Money | The Guardian

 

[doodab]

I bet you wished you'd bought yourself an oversized shoebox now...

 

[MarillionFan]

I bet you wished you'd bought yourself an oversized shoebox now...

Nah. It's a mugs game. In 20 years I will have £1million rent and have nothing to show while the rest of you will have a load of BtLs paid off and sitting pretty.

You bunch of mugs

AtW

 

[DimPrawn]

The key points are these:

1. You have to pay rent forever, you only have to pay your mortgage until you've paid it off. Since most people's income will fall when they are at retirement age, you either go into social housing if you are a renter, or you live mortgage free in your own home.

2. House prices long term increase with inflation and so does rent. This means that in 10 or 20 years, the price you paid for your house will seem cheap looking back, where as your rent you pay every month will hit your pocket as hard in the future as it does now.

These rules may not apply if you live abroad, but if you live in Britain, where successive govt's ensure the above occurs through monetary policy, you have to see the big picture and conclude the following:

Renting long term in Britain is for Cretins.

HTH BIDI

 

[BrilloPad]

Renting long term in Britain is for the young who are saddled with debt and have no chance of getting on the ladder

FTFY. Personally I would remove mortgage payments on BTL as being tax deductable. And a 100% tax on rental income for all homes except the 1st.

The reason economy has flat lined last 5 years (and probably will for another 5) is too much money concentrated in the hands of too few. You need circulation of money for an economy to work.

 

[DimPrawn]

FTFY. Personally I would remove mortgage payments on BTL as being tax deductable. And a 100% tax on rental income for all homes except the 1st.

The reason economy has flat lined last 5 years (and probably will for another 5) is too much money concentrated in the hands of too few. You need circulation of money for an economy to work.

Help to Buy | Help to Buy Scheme - Barratt Homes
Help to Buy Scheme | Persimmon Homes
Help to Buy | David Wilson Homes

etc etc.

Wow, aren't all these companies massive Tory party donors?



Young and poor people can die in one of sasguru's rentals.