More than half of renters aged 25 to 44 ‘had expected to be homeowners by now’

15 comments

1. Yup, even with a university degree and a well-paying job, I’m not getting a home until my parents or my partner’s parents die and we inherit the money to do so.

2. How many of them actively worked towards it?

   Anecdotal of course but most people I know complain about house prices and cost of living but piss there money up the wall every weekend and get take aways multiple times a week

   Buying a house on a dual income in a reasonable area is very achievable still

3. Housing market sucks but this is a pointless statistic

4. I came to London 20 yrs ago. I never thought for a moment I’d be spending almost all of that time bouncing around between HMOs before I was able to get on the ladder.

   It was bad then and its even worse now. It’s never going to get easier. Don’t make the same mistake i did by wasting your life hoping it will change. It wont.

   I hate to say this but if you can, buy what you can where you can while you can.

5. All I know is that house prices of today will be looked back at fondly in thirty years time as being much, much easier to buy. We don’t know what’s around the corner but it’s worse than you could ever imagine.

6. Up north, 3 bedroom semi £135k now worth £196k. Bought at 22 with a partner on a 5% deposit. (2019) We were both on 22k at the time.

   Wages up north are similar unless you’re in London.

   If I lived down south same house would have absolutely no chance… probs be £200-£300k for same house!!!

7. You could buy flats in Edinburgh that are changing hands for £350-400K on a single full time Asda checkout cashier’s salary in the early 90s.

   But nah it’s too much Netflix, that’s the problem with people in their 20s/30s today…

8. We relocated up north. I’m surprised there’s not more of a mass exodus of young people moving to places like Greater Manchester/Lancs, or even perhaps Leeds. At least regarding the field I work in, the salaries are the same as the south except for London, which doesn’t make up for the increased cost of living anyway.

   We bought a 3 bed in a commuter village for 190k. We’re paying less for our mortgage than in rent for our old 2 bed flat down south. Everyone’s friendlier and the countryside is gorgeous. It’s been a massive success for us.

9. Even more sickening is me walking past an estate agent today and seeing a sticker on every house for sale that said “over 60? Get up to 60% off. ”

   Not o lying have these boomers walked through life getting well paid jobs with little education, cheap housing, and heap loans. Now they’re getting preferential pricing on houses? I know it’ll likely be tied to the banks keeping the house when they die or whatever, but it just rubs me the wrong way.

10. I was a renter until I was 46 with a good degree, never expected to own a house.

    Then had an interest only mortgage because some clown invented self certification, still never expected to actually own it.

    3 years ago I managed to repay the capital because my mother died and left me 1/2 her estate, I was 63 years old that year.

    I never was under the illusion that I was owed a house and was very happy renting, until rents went silly. Then it seemed a no brainer to just repay interest and consider it a longterm rental agreement.

    Actually owning a house is a bonus now and it has come just as I am becoming incapable of the work I have relied upon for a living. This year I get to retire on the state pension that I have always paid into.

    So there is light at the end of the tunnel, try not to get bitter about your lot and seek people/agegroups to blame. There are always creative options open to you.

11. Myself included, I don’t want anything fancy. A one or two bed house, hell even a goddamn flat. But NHS wages have been stagnant for years, even with minor increases they’re vastly below what they would’ve been if not for public pay freeze for years and years.

    I’m single, can’t afford a “starter home” earning what would’ve been the average salary a few years ago. Prices have just outstripped what I can pay on a mortgage even with 5x my salary.

12. I’m late 20’s and don’t know a single person who owns that wasn’t helped by family. It’s hard enough getting on the ladder up north but I always get shocked at the house prices down south, especially London adjacent.

13. Most people don’t start to think about saving until theyre in their 30s. They’re too busy having fun or something.
    But if you did start saving when you got your first job, and especially if you’re living at home then it is totally doable, it will mean you have to cut back on lots of things, but you can still live a fine life without spending too much. It would take a lot of discipline. Or at least a real goal of saving and a real plan to do it as well as the knowledge of where to invest it. Which is really something they should be teaching in schools!

    Obviously even with all these things out in place there are things that happened that are unplanned and cost money, especially with things like cars, having to move house, pets etc. staying at home is the best thing you can do to save money to be honest and realise that while you’re at home you’ve got the best chance to be able to save money.

14. I’m a homeowner at 21. Really wasn’t hard at all. Saved up 25k in 3 years for a deposit and bought a 2 bed flat 😂.

15. I’ve mostly given up hope of buying anywhere until my parents die to be honest, and even then I have siblings so any share I get might not be enough by then. I am saving a bit in an ISA each month but my focus in the last year or so has been more on travel and having experiences instead. As a single person, buying a flat where I live is very difficult, so why put myself through years of misery to save on something I’m unlikely to get anyway? I may not always be able to travel so I would rather make the most of the opportunity now.

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