>Professor Bobby Duffy, director of the Policy Institute at King’s College London, said: “The suggestion that the huge challenges young people face in buying their own home can be solved by skipping fancy coffees and Netflix entirely misses the point — but it’s still believed by half the public.
>“That so many think it’s the case will be partly because it’s so often repeated by commentators, which recently included Kirstie Allsopp.
Horrible, horrible woman.
*Tldr: old people think young people are too lazy and spend their money too frivolously to be able to afford a house.*
Funny that. My nan worked in a warehouse part time and did some occasional house cleaning. My grandfather worked in a printing press warehouse. They owned their own home by the time they were 30 (3 beds). They’d go on holiday twice a year for as long as I’ve been alive and the one thing I remember from my childhood about going to my nans for summer was that she had all the channels (we only had the basic) and we would get take away every Friday.
Oh and they had a caravan that we would take to Devon once a year.
Meanwhile me and my mum lived in a one room bedsit in Streatham until I was 6 years old and I went on holiday maybe 5 times in my entire childhood.
48% of Brits are completely out of touch with the reality of the last 30 years.
Your average property is going up by around £2000 a month, essentially. In fact, that’s lower than the reality over the last two years.
To suggest that cutting back on twenty quid a month for a couple of Friday night takeaways every other week or a £10-a-month Netflix account isn’t just being obtuse, it’s downright unfair.
It is a dragon that millions of young people will never catch, even if they lived in a cupboard with no light and heat and rice and beans for dinner every day.
People will believe any old shite if you keep telling them it- it’s a real problem. Also I’m 40, on a salary that’s above the median but had no way of buying a property without help. Most of the people who accuse young people of being lazy are the ones who retired at 50 and have nothing better to do.
I’m in my late 30s. My best friend growing up had a dad who was a postman. Mum, as far as I could tell, was a stay at home mum. He had two brothers. They lived in a four bedroom house on the South Coast. I know they owned it, because years later they sold up and moved up North to be closer to family.
Can you imagine a postman trying to even support a basic family life nowadays on a single wage whilst living in the South East? A four bedroom house with nice big garden? Lol!
I think more and more older folk are waking up to the true economic situation facing most young people. They’ve been insulated from the realities for so long, you can’t really blame them.
Hell, I was amazed that what i earned working at Argos 20 years ago as a student was more than they earn now! It’s very easy to become disconnected from the realities faced by other generations, even when you’re relatively not far removed.
What I detest however are those that when faced with the reality, try and deny it.
Haha hahahaha no…. The blame can be placed firmly at the feet of the 2008 financial crisis and the subsequent disastrous policies of the tories, especially their backing of landlords who buy up all the housing stock for rent.
This has nothing to do with netflix, takeaways, coffee or fucking avocado’s…. The blame is all on the goverment here.
There are basically three things to understand about UK house prices – the first is that interest rates are historically low, trending down from mid-10%s to basically 0 for the last decade [0]. This drove cost of ownership down. You can borrow about 3-4x as much now as the 1980s for the same interest payments. If interest rates were to… I don’t know, massively spike, then some people are going to be in a lot of trouble.
The other thing to understand is that up until the 1980s the whole of the gap between private house building and demand for new housing was covered by local authorities building houses. Since the 1980s that has entirely ceased [1]. Since then the gap between supply and demand has been almost exactly the amount of houses that local authorities previously built but no longer build.
The third thing to know is that the government absolutely understand this, has repeatedly created reports stating this, but has taken no action to address this. Instead prefering to continually engage in demand side schemes like help-to-buy to further inflate what is now massive asset bubble disguising the reality that the average person has lost huge amounts of wealth to inflation in the last 30 years.People would rather think they’ve suddenly become real estate moguls than that they’re just stuck in a bubble that *will* eventually burst.
It makes absolutely no sense to consider these systemic issues causing billion pound bubbles in the same conversation as a 9.99 netflix subscription.
My parents sold their first house and bought their second house, 25 years ago. It’s a little detached one with a big garden and I think they got it for about 85k (lol). At that time mum was 37.
So uh, 25 years later, I’m now 37 and I live in that same house with my folks. Lol. But the notion that my mum was buying her SECOND house at my age, and the most I’ve done is rent a flat with my ex for a few years!
I have at least experienced life outside of my parents’ house, I moved into a flat with my ex for a couple years. There is no way I’m going for a house share. I’d rather pay rent to mum that goes toward the mortgage for this house. I have a nice room of my own. Frankly I consider myself lucky even if some people would sneer at me still being with my parents. I’m close to my mum so why not? I want to be able to spend time with my parents while I still can, you know?
You can either a) not afford a house and have absolutely no leisure time/hobbies/fun or b) not afford a house and have leisure time/hobbies/fun.
No shit people pick b).
The average price of a house in this country is £277000. If we assume a first time buyer needs a 10% deposit and a balti is 8 quid, a first time buyer would have to skip 33750 curries to scrape together enough money to get a mortgage.
EDIT: The extra 0 is a typ0
You give me a mortgage for 30quid a month and I’ll take it
What about low wages, greedy landlords, inflation, and housing being treated as a commodity? Idc what you say my house isn’t worth 40% more then when I purchased it.
>Nearly half (48%) of Brits
Before we have the usual pile on to pensioners, lets remember only 19% of the UK are over 65, so the majority who think this way are not OAPS, so just who are they?
I bet this study was paid for by the avocado on toast cartel.
It’s actually a miracle of biology that people that believe this can breathe and walk at the same time…
Average UK house price, as of February 2022 £276,755
The UK median wage (not even the average) in the UK as of this year, is £31,772.
Mortgage companies give you loans of 4.5 times your wage therefore the median home owner loan would be £142,974.
10% deposit for that would be £14,297 roughly.
Rent is astronomical, food and energy prices are the highest they’ve ever been. Petrol and travel costs in general are at an all time high.
I think I’ve found the real reason behind people not buying homes, and it has fuck all to do with netflix and fucking coffees.
The only people I knew that owned a house before 30 got it given to them in one way or another (mostly people with few siblings/cousins who have older family members pass away)
I have friends at 35+ who are in very senior positions who still can’t afford their own house.
Meritocracy is a farce.
Rich old people will make up any bullshit to justify their greed, study finds.
Yo dude get my mortgage payment down to 20 quid a month and Holy fuck yeah let’s be buying that house
Dumbasses.
Netflix is £6.99 and a takeaway around £10-£15
Please tell me where I can get a house saving £30 or less a month on these things.
“Media propaganda designed to obscure falling standards of living and social mobility prospects effective on 48% of respondents to survey.”
Would be a more accurate summary.
Shows how out of touch and deluded the older generation are. They bought their houses for 50p and a pint of bitter and dont realise how much the world has changed.
Isn’t Netflix £10/month? I’m pretty sure that’s what I pay. It’s a fixed amount of money. I’m not spending varying amounts of money on Netflix, it’s always £10. Considering I rarely go out, £10/month for entertainment seems like a pretty good deal.
I also pay £10/month for a World of Warcraft subscription (which I know is a bit dumb but I do play it a fair bit and again, it’s my entertainment). I guess WoW is to blame for me not being on the property ladder as well. 🤣
Takeaways are more believable, since you can spend varying amounts on those. If you’re ordering takeaway multiple nights a week, that can literally add up to hundreds of pounds a month. However, I can’t imagine many people are actually doing this…
This is all absolute horse shit anyway. Wages aren’t keeping up with inflation and the housing situation is already an absolute dumpster fire. There’s a reason you often hear “housing” and “crisis” in the same sentence and it’s not because people are subscribing to Netflix or ordering takeaways.
Yer look at all those youngsters walking around like they rent the place!!!!
Here is what most conservatives (they don’t have to be boomers, I’ve seen a lot of talking down from high earners on this subreddit more and more in the last few years);
“You should live within your means”, which loosely translates in their language to you should eat the plainest food you can afford, live the most basic lifestyle and buy nothing else for yourself, you are not entitled to fun, enjoyment, positivity, relaxation on any other perks these people have because you are not well off enough.
You should continue to live as basically as you can with no hobbies or passion until you get a better job. The entirety of society is judging you.
They will bemoan that you are not as productive as they are, and therefore they are superior to you. They will chastise your ability to retrain yourself, because surely after you’ve been at work – exhausted by either your manual labor or interacting with the (disgusting) general public you have all of your energy stored to study and train into something completely unfamiliar to you. Don’t forget to feed yourself, get enough sleep, keep your amenities tidy, keep your mental health in check, keep up appearances with friends, family and colleagues but under no circumstances are you allowed to enjoy yourself for a minute or own anything.
Netflix is still cheaper than a TV licence, is that to blame?
This is what happens when you get a retired population sitting at home doing fuck-all listening to the bullshit peddled by fat cunts like Mike Graham on the radio all day instead of actually doing something productive.
They develop these bullshit, provably wrong opinions and use them to influence and justify all their prejudices and selfish behaviours and if you even lightly challenge them on it, they throw a fucking fit.
I have not had a takeaway since 2015 and have never been to a high street coffee shop. Disney+ costs me less than a TV licence, my phone is £9 a month and my gym membership is £26 (which probably helps save the NHS a bit of money over time). I still cannot afford my own place, despite going to university and having a decent job. The gap between wages and house prices down here are hilariously bad. People retire down here to houses worth ~£500,000. How is that sustainable?
I know a handful of people in my age range who own a house (under 30). Every single one of them got help from their parents/family members with securing the deposit for a mortgage, and as a result pay less than I do for my rent. This is not an attack on them either, they’ll all admit they were fortunate to have that support too.
Fuck me, this take again? I am so sick of hearing this bullshit.
Boomers and Gen X’rs were able to buy a house on a goddamn milkman’s salary. (as well they should have.) Time and time again this point has be refuted by inflation far outpacing median average pay.
You’re lucky to be able to afford a shitty one bedroom flat in a crime infested part of the city on a mid level salary at most jobs these days.
Back in the 70s, it was a polarising time for the UK economy, with both widespread hardship on the one hand and a boom in home ownership on the other.
As the mortgage market flourished, the average house price at the start of the decade was just £4,057.
The UK House Price Index shows this jumped to £5,158 by 1972, which is still a stark contrast when compared with the figures we see today.
Let’s put this into further perspective by looking at the salaries then and now – in 1972, the average annual salary for men over 21 was £1,903, while women over 18 only earned £1,066 on average, according to Hansard.
This means a house cost 2.7 times the average yearly wage for British men and 4.8 times the average annual salary for women 50 years ago.
HMRC data shows that the average UK salary at the start of 2022 was £24,600, making a home over 11 times the median yearly wage.
31 comments
>Professor Bobby Duffy, director of the Policy Institute at King’s College London, said: “The suggestion that the huge challenges young people face in buying their own home can be solved by skipping fancy coffees and Netflix entirely misses the point — but it’s still believed by half the public.
>“That so many think it’s the case will be partly because it’s so often repeated by commentators, which recently included Kirstie Allsopp.
Horrible, horrible woman.
*Tldr: old people think young people are too lazy and spend their money too frivolously to be able to afford a house.*
Funny that. My nan worked in a warehouse part time and did some occasional house cleaning. My grandfather worked in a printing press warehouse. They owned their own home by the time they were 30 (3 beds). They’d go on holiday twice a year for as long as I’ve been alive and the one thing I remember from my childhood about going to my nans for summer was that she had all the channels (we only had the basic) and we would get take away every Friday.
Oh and they had a caravan that we would take to Devon once a year.
Meanwhile me and my mum lived in a one room bedsit in Streatham until I was 6 years old and I went on holiday maybe 5 times in my entire childhood.
48% of Brits are completely out of touch with the reality of the last 30 years.
Your average property is going up by around £2000 a month, essentially. In fact, that’s lower than the reality over the last two years.
To suggest that cutting back on twenty quid a month for a couple of Friday night takeaways every other week or a £10-a-month Netflix account isn’t just being obtuse, it’s downright unfair.
It is a dragon that millions of young people will never catch, even if they lived in a cupboard with no light and heat and rice and beans for dinner every day.
People will believe any old shite if you keep telling them it- it’s a real problem. Also I’m 40, on a salary that’s above the median but had no way of buying a property without help. Most of the people who accuse young people of being lazy are the ones who retired at 50 and have nothing better to do.
I’m in my late 30s. My best friend growing up had a dad who was a postman. Mum, as far as I could tell, was a stay at home mum. He had two brothers. They lived in a four bedroom house on the South Coast. I know they owned it, because years later they sold up and moved up North to be closer to family.
Can you imagine a postman trying to even support a basic family life nowadays on a single wage whilst living in the South East? A four bedroom house with nice big garden? Lol!
I think more and more older folk are waking up to the true economic situation facing most young people. They’ve been insulated from the realities for so long, you can’t really blame them.
Hell, I was amazed that what i earned working at Argos 20 years ago as a student was more than they earn now! It’s very easy to become disconnected from the realities faced by other generations, even when you’re relatively not far removed.
What I detest however are those that when faced with the reality, try and deny it.
Haha hahahaha no…. The blame can be placed firmly at the feet of the 2008 financial crisis and the subsequent disastrous policies of the tories, especially their backing of landlords who buy up all the housing stock for rent.
This has nothing to do with netflix, takeaways, coffee or fucking avocado’s…. The blame is all on the goverment here.
There are basically three things to understand about UK house prices – the first is that interest rates are historically low, trending down from mid-10%s to basically 0 for the last decade [0]. This drove cost of ownership down. You can borrow about 3-4x as much now as the 1980s for the same interest payments. If interest rates were to… I don’t know, massively spike, then some people are going to be in a lot of trouble.
The other thing to understand is that up until the 1980s the whole of the gap between private house building and demand for new housing was covered by local authorities building houses. Since the 1980s that has entirely ceased [1]. Since then the gap between supply and demand has been almost exactly the amount of houses that local authorities previously built but no longer build.
The third thing to know is that the government absolutely understand this, has repeatedly created reports stating this, but has taken no action to address this. Instead prefering to continually engage in demand side schemes like help-to-buy to further inflate what is now massive asset bubble disguising the reality that the average person has lost huge amounts of wealth to inflation in the last 30 years.People would rather think they’ve suddenly become real estate moguls than that they’re just stuck in a bubble that *will* eventually burst.
It makes absolutely no sense to consider these systemic issues causing billion pound bubbles in the same conversation as a 9.99 netflix subscription.
[0]:https://tradingeconomics.com/united-kingdom/interest-rate
[1]:https://researchbriefings.files.parliament.uk/documents/CBP-7671/CBP-7671.pdf
My parents sold their first house and bought their second house, 25 years ago. It’s a little detached one with a big garden and I think they got it for about 85k (lol). At that time mum was 37.
So uh, 25 years later, I’m now 37 and I live in that same house with my folks. Lol. But the notion that my mum was buying her SECOND house at my age, and the most I’ve done is rent a flat with my ex for a few years!
I have at least experienced life outside of my parents’ house, I moved into a flat with my ex for a couple years. There is no way I’m going for a house share. I’d rather pay rent to mum that goes toward the mortgage for this house. I have a nice room of my own. Frankly I consider myself lucky even if some people would sneer at me still being with my parents. I’m close to my mum so why not? I want to be able to spend time with my parents while I still can, you know?
You can either a) not afford a house and have absolutely no leisure time/hobbies/fun or b) not afford a house and have leisure time/hobbies/fun.
No shit people pick b).
The average price of a house in this country is £277000. If we assume a first time buyer needs a 10% deposit and a balti is 8 quid, a first time buyer would have to skip 33750 curries to scrape together enough money to get a mortgage.
EDIT: The extra 0 is a typ0
You give me a mortgage for 30quid a month and I’ll take it
What about low wages, greedy landlords, inflation, and housing being treated as a commodity? Idc what you say my house isn’t worth 40% more then when I purchased it.
>Nearly half (48%) of Brits
Before we have the usual pile on to pensioners, lets remember only 19% of the UK are over 65, so the majority who think this way are not OAPS, so just who are they?
I bet this study was paid for by the avocado on toast cartel.
It’s actually a miracle of biology that people that believe this can breathe and walk at the same time…
Average UK house price, as of February 2022 £276,755
The UK median wage (not even the average) in the UK as of this year, is £31,772.
Mortgage companies give you loans of 4.5 times your wage therefore the median home owner loan would be £142,974.
10% deposit for that would be £14,297 roughly.
Rent is astronomical, food and energy prices are the highest they’ve ever been. Petrol and travel costs in general are at an all time high.
I think I’ve found the real reason behind people not buying homes, and it has fuck all to do with netflix and fucking coffees.
The only people I knew that owned a house before 30 got it given to them in one way or another (mostly people with few siblings/cousins who have older family members pass away)
I have friends at 35+ who are in very senior positions who still can’t afford their own house.
Meritocracy is a farce.
Rich old people will make up any bullshit to justify their greed, study finds.
Yo dude get my mortgage payment down to 20 quid a month and Holy fuck yeah let’s be buying that house
Dumbasses.
Netflix is £6.99 and a takeaway around £10-£15
Please tell me where I can get a house saving £30 or less a month on these things.
“Media propaganda designed to obscure falling standards of living and social mobility prospects effective on 48% of respondents to survey.”
Would be a more accurate summary.
Shows how out of touch and deluded the older generation are. They bought their houses for 50p and a pint of bitter and dont realise how much the world has changed.
Isn’t Netflix £10/month? I’m pretty sure that’s what I pay. It’s a fixed amount of money. I’m not spending varying amounts of money on Netflix, it’s always £10. Considering I rarely go out, £10/month for entertainment seems like a pretty good deal.
I also pay £10/month for a World of Warcraft subscription (which I know is a bit dumb but I do play it a fair bit and again, it’s my entertainment). I guess WoW is to blame for me not being on the property ladder as well. 🤣
Takeaways are more believable, since you can spend varying amounts on those. If you’re ordering takeaway multiple nights a week, that can literally add up to hundreds of pounds a month. However, I can’t imagine many people are actually doing this…
This is all absolute horse shit anyway. Wages aren’t keeping up with inflation and the housing situation is already an absolute dumpster fire. There’s a reason you often hear “housing” and “crisis” in the same sentence and it’s not because people are subscribing to Netflix or ordering takeaways.
Yer look at all those youngsters walking around like they rent the place!!!!
Here is what most conservatives (they don’t have to be boomers, I’ve seen a lot of talking down from high earners on this subreddit more and more in the last few years);
“You should live within your means”, which loosely translates in their language to you should eat the plainest food you can afford, live the most basic lifestyle and buy nothing else for yourself, you are not entitled to fun, enjoyment, positivity, relaxation on any other perks these people have because you are not well off enough.
You should continue to live as basically as you can with no hobbies or passion until you get a better job. The entirety of society is judging you.
They will bemoan that you are not as productive as they are, and therefore they are superior to you. They will chastise your ability to retrain yourself, because surely after you’ve been at work – exhausted by either your manual labor or interacting with the (disgusting) general public you have all of your energy stored to study and train into something completely unfamiliar to you. Don’t forget to feed yourself, get enough sleep, keep your amenities tidy, keep your mental health in check, keep up appearances with friends, family and colleagues but under no circumstances are you allowed to enjoy yourself for a minute or own anything.
Netflix is still cheaper than a TV licence, is that to blame?
This is what happens when you get a retired population sitting at home doing fuck-all listening to the bullshit peddled by fat cunts like Mike Graham on the radio all day instead of actually doing something productive.
They develop these bullshit, provably wrong opinions and use them to influence and justify all their prejudices and selfish behaviours and if you even lightly challenge them on it, they throw a fucking fit.
I have not had a takeaway since 2015 and have never been to a high street coffee shop. Disney+ costs me less than a TV licence, my phone is £9 a month and my gym membership is £26 (which probably helps save the NHS a bit of money over time). I still cannot afford my own place, despite going to university and having a decent job. The gap between wages and house prices down here are hilariously bad. People retire down here to houses worth ~£500,000. How is that sustainable?
I know a handful of people in my age range who own a house (under 30). Every single one of them got help from their parents/family members with securing the deposit for a mortgage, and as a result pay less than I do for my rent. This is not an attack on them either, they’ll all admit they were fortunate to have that support too.
Fuck me, this take again? I am so sick of hearing this bullshit.
Boomers and Gen X’rs were able to buy a house on a goddamn milkman’s salary. (as well they should have.) Time and time again this point has be refuted by inflation far outpacing median average pay.
You’re lucky to be able to afford a shitty one bedroom flat in a crime infested part of the city on a mid level salary at most jobs these days.
Fuck off already with this shit.
Taken from [Ladbible](https://www.ladbible.com/news/study-cost-average-house-uk-1970s-20220411) earlier this year.
Back in the 70s, it was a polarising time for the UK economy, with both widespread hardship on the one hand and a boom in home ownership on the other.
As the mortgage market flourished, the average house price at the start of the decade was just £4,057.
The UK House Price Index shows this jumped to £5,158 by 1972, which is still a stark contrast when compared with the figures we see today.
Let’s put this into further perspective by looking at the salaries then and now – in 1972, the average annual salary for men over 21 was £1,903, while women over 18 only earned £1,066 on average, according to Hansard.
This means a house cost 2.7 times the average yearly wage for British men and 4.8 times the average annual salary for women 50 years ago.
HMRC data shows that the average UK salary at the start of 2022 was £24,600, making a home over 11 times the median yearly wage.
Yeah, Netflix and takeaways….