Jump to content
DOSBODS
  • Welcome to DOSBODS

     

    DOSBODS is free of any advertising.

    Ads are annoying, and - increasingly - advertising companies limit free speech online. DOSBODS Forums are completely free to use. Please create a free account to be able to access all the features of the DOSBODS community. It only takes 20 seconds!

     

IGNORED

Reddit discusses UK House prices


Durabo

Recommended Posts

  • Replies 83
  • Created
  • Last Reply
UnconventionalWisdom
23 hours ago, A_P said:

and another. 35 year mortgage, parents having to contribute, and double the price of similar houses in the area xD

This is what does my head in. I can just about understand how one person can make a stupid decision, but a few after careful consideration. 

Aren't the parents meant to have realised that being happy is the most important thing. Not being anchored down with some you can't pay off. No wonder we have a housing crisis. 

Link to comment
Share on other sites

1 hour ago, UnconventionalWisdom said:

This is what does my head in. I can just about understand how one person can make a stupid decision, but a few after careful consideration. 

Aren't the parents meant to have realised that being happy is the most important thing. Not being anchored down with some you can't pay off. No wonder we have a housing crisis. 

Additionally did the dad sell the house/downsize to fund the house purchase or was that just good timing?

Sadly though what you say is just a result of years of programming. I have some friends and acquaintances here in the SE that have needed BOMAD help. I do wonder if any of them actually stop to think for a second and question why do I need to help my children with a deposit. Sadly I doubt that very much.

Link to comment
Share on other sites

UnconventionalWisdom
46 minutes ago, Wig said:

Many parents of a certain generation think happiness is proud homeownership and nothing else 

Like they were stupidly proud of their kid for going to a sub-par university to study a nothing subject. 

Link to comment
Share on other sites

UnconventionalWisdom
55 minutes ago, A_P said:

Sadly though what you say is just a result of years of programming. 

The banks and politicians have played a blinder. My grandad was Ukrainian, taken by the nazis at the end of the war as they wanted to train people to fight against the Russians. Luckily it didn't last too long, and he didn't have to fight but was at a training camp. However, despite not having a choice he couldn't return home as the Russians would have punished him and was offered to come here. 

Despite having no English or penny to his name upon arrival, he worked in a factory and after a few years could get a nice family house. 

This is much more than what I can hope for without getting into stupid levels of debt despite going to university to study physics, subsequently getting a PhD and having a good engineering job. Sheer madness. 

Link to comment
Share on other sites

Chewing Grass
10 hours ago, UnconventionalWisdom said:

The banks and politicians have played a blinder. My grandad was Ukrainian, taken by the nazis at the end of the war as they wanted to train people to fight against the Russians. Luckily it didn't last too long, and he didn't have to fight but was at a training camp. However, despite not having a choice he couldn't return home as the Russians would have punished him and was offered to come here. 

Despite having no English or penny to his name upon arrival, he worked in a factory and after a few years could get a nice family house. 

This is much more than what I can hope for without getting into stupid levels of debt despite going to university to study physics, subsequently getting a PhD and having a good engineering job. Sheer madness.  

Going back to before 1987 when interest rates were 8/9/10% a draughtsman/junior engineer would have been straight into a 3 bed semi in a nice area of town on one wage, their boss, the lead engineer would have been 4 bed detached and his boss would have been in the satellite town with the posh golf-course in a 4/5 bed detach with a garden big enough for a ride on lawnmower.

Nowadays, engineers do not become well off from the fruits of their skilled labour, the project managers, planners and cost engineers make sure of that, controlling money is everything.

Engineer, average salary UK all disciplines 40k.

Cost Engineer, can be a vague job description 50k.

Planners, 60k.

Project Managers, 65k.

The most useless engineering people I know did a primavera course and became planners, this is why every engineering project is a fuck-up.

Idiots become sought after experts if you add software.

https://www.oracle.com/applications/primavera/products/project-portfolio-management/

Link to comment
Share on other sites

11 hours ago, UnconventionalWisdom said:

The banks and politicians have played a blinder. My grandad was Ukrainian, taken by the nazis at the end of the war as they wanted to train people to fight against the Russians. Luckily it didn't last too long, and he didn't have to fight but was at a training camp. However, despite not having a choice he couldn't return home as the Russians would have punished him and was offered to come here. 

Despite having no English or penny to his name upon arrival, he worked in a factory and after a few years could get a nice family house. 

This is much more than what I can hope for without getting into stupid levels of debt despite going to university to study physics, subsequently getting a PhD and having a good engineering job. Sheer madness. 

you cant buy even with an engineering job

Link to comment
Share on other sites

UnconventionalWisdom
10 hours ago, No One said:

you cant buy even with an engineering job

I can buy but with a 10% deposit and a big mortgage, it would be a one bedroom flat. It's more that I'd be tying myself down to the job/area for a small place that wouldn't make me happy. 

I'm in the south east so could move to the midland or further north and get something reasonable. But it still annoys me that I'd have to move to get somewhere and that those whose are unable to leave the area are effectively force to rent for good. 

Link to comment
Share on other sites

12 hours ago, No One said:

you cant buy even with an engineering job

You can, but nowhere near the size and location you'd be interested in.

I've got masters in computer science, my wife's got masters in psychology with extra 4 years post-grad, me and her both 13 years of work experience. We've got my annual gross salary in savings, too. The amount of debt we'd have to take on to get our own place, and what kind of place that would be, is truly depressing. And we're by no means unique.

Link to comment
Share on other sites

  • 2 weeks later...
  • 3 weeks later...
On 11/02/2019 at 11:12, kibuc said:

You can, but nowhere near the size and location you'd be interested in.

I've got masters in computer science, my wife's got masters in psychology with extra 4 years post-grad, me and her both 13 years of work experience. We've got my annual gross salary in savings, too. The amount of debt we'd have to take on to get our own place, and what kind of place that would be, is truly depressing. And we're by no means unique.

What scares me about that, is with 2 middle class jobs I need to stretch for what once was a working class home.

 

Then WTF are the working class doing for shelter?

Link to comment
Share on other sites

On 14/03/2019 at 18:30, No One said:

What scares me about that, is with 2 middle class jobs I need to stretch for what once was a working class home.

 

Then WTF are the working class doing for shelter?

Moving out of London to the formerly rural parts of the SE and buying Barratt homes on shared ownership.

Link to comment
Share on other sites

  • 3 weeks later...
51 minutes ago, JoeDavola said:

Any luck with the NI house hunting @A_P?

On-hold mate after we lost out on the property we made an offer on. We get there at the end of the month, so thought it was best to focus on the move now and will get back to house hunting, once we've got the first week or so out the way. Handed in notice to our rental last week. LL came round yesterday to see what work he needed to do. The EA's wanted to list it right away until I informed them of the work the LL has neglected to do and might be in their interest to do it before listing. Seeing as two other apartments in my small block have been vacant for a while now and are currently having reno's xD

We managed to secure a short-term rolling monthly, furnished two bed apartment right outside where the mrs is working so that's handy. All in less than what we pay just in rent here for a one bed place. We will aim to try and buy as soon as we can, although I've refrained from looking at the housing sites for now so no idea what is about. I can imagine it's starting to get a little crazy over there now and I don't want to frustrate myself anymoer than I already am thanks to how long this move has taken....damn red tape

Link to comment
Share on other sites

36 minutes ago, A_P said:

On-hold mate after we lost out on the property we made an offer on. We get there at the end of the month, so thought it was best to focus on the move now and will get back to house hunting, once we've got the first week or so out the way. Handed in notice to our rental last week. LL came round yesterday to see what work he needed to do. The EA's wanted to list it right away until I informed them of the work the LL has neglected to do and might be in their interest to do it before listing. Seeing as two other apartments in my small block have been vacant for a while now and are currently having reno's xD

We managed to secure a short-term rolling monthly, furnished two bed apartment right outside where the mrs is working so that's handy. All in less than what we pay just in rent here for a one bed place. We will aim to try and buy as soon as we can, although I've refrained from looking at the housing sites for now so no idea what is about. I can imagine it's starting to get a little crazy over there now and I don't want to frustrate myself anymoer than I already am thanks to how long this move has taken....damn red tape

Good stuff - as you say rents will be cheaper over here than in England, and rents on apartments have stayed pretty static for a decade. With two wages you and the Mrs should be able to rent a 2 bed and still continue to save.

The insanity continues in Belfast, these two houses caught my eye recently ..... I reckon 5 year's ago they'd have been 60K less:

https://www.propertypal.com/58-kingsdale-park-gilnahirk-belfast/562864

https://www.propertypal.com/176-orby-drive-castlereagh-belfast/562409

I remember just before things crashed there was a semi on in Orby Drive (second link) for 300K-ish and I think we're on our way to that peak again.

Link to comment
Share on other sites

On 10/02/2019 at 11:23, UnconventionalWisdom said:

The banks and politicians have played a blinder. My grandad was Ukrainian, taken by the nazis at the end of the war as they wanted to train people to fight against the Russians. Luckily it didn't last too long, and he didn't have to fight but was at a training camp. However, despite not having a choice he couldn't return home as the Russians would have punished him and was offered to come here. 

Despite having no English or penny to his name upon arrival, he worked in a factory and after a few years could get a nice family house. 

This is much more than what I can hope for without getting into stupid levels of debt despite going to university to study physics, subsequently getting a PhD and having a good engineering job. Sheer madness. 

You're just lazy. All the 10,000s of Somalians round here who turned up yesterday, speak crap English and occasionally drive Ubers all have 1/2 million pound council houses within months. You're obviously not working hard enough like these vibrant, highly skilled fellows. Diversity is our strength. Now get back to work.

Link to comment
Share on other sites

  • 2 months later...
Noallegiance

Can't help but notice the upward pops for paper gold daily, even though currency fluctuations are minimal and even as the Fed is signalling free money forever.

It's a change of pattern, even if it finishes tomorrow.

Link to comment
Share on other sites

I commented about a Barlcays ad on ToS - Let our mortgage calculator let you know if you remortgage .. without damaging your credit score.

So, this looks like a not-very-accidental LL.

£168K, 250 'mortgage'/month - pure IO.

And a good 300/400 of that 900/m rent will be going to HMRC now.

50% LTV to about the max you'll get remortaging a IO BTL.

Hes nees to get shot of the BTL. Simple.

Link to comment
Share on other sites

47k salary.

188k resi mortgage + 168k BTL mortgage - ~350k of mortgage ... 7x gross earnigns.

Way too high.

That 900/m and 47k will means hes paying 450/m of tax on that 900/m rent.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.

×
×
  • Create New...