Nearly a million more young adults now live with parents

WhoAreYa73 said:
Well I’ll just go from my point of view. I work 6 days a week, earn a good wage to what some people would earn. I save every week unless something is more important than that saving. I’ve been on one holiday in the last 2 year but before that it was about 6 years. I don’t go out, I recently went out in Newcastle for the first time in over a year and a half. The only thing I do have is a newish car but it’s nothing flashy it’s a Focus but I do a lot of motorway driving and my job isn’t 2 minutes around the corner or a 5 minute bus ride like every seems to think nowadays.

But I still couldn’t afford a house on my own.
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Couldnt or just not in the area you want? If you say you're on a decent wage then im guessing above average so £27k+ . You can easily get a £100k mortgage & plenty of houses around here within that range. And if you dont go out that much then saving for deposit shouldnt be that much of a problem either.
 


James said:
I've never complained once about not being able to afford to buy a flat in London. I didn't move here to settle down, I moved for the social life, the gigs, the cheap flights, and then because it's where the most interesting work is in my profession. The cost of housing I fully understand and don't mind, that's just the price you pay. It's a short/medium term decision.

I posted the value of my rented flat to show the posters that even the smallest flat will set you back 15x or 20x (and the rest) your annual salary. It wasn't @MackneyHackem giving it the big one about living in a mansion, it was a reflection of the cost of here vs north east.

What the SMB seem to forget is that most young people do not want to live in suburbia nor ex mining villages. Yes I could probably afford somewhere to live in Wheatley Hill but I'd be bored out my skull every day. Not every young person has the latest phone or car on tick either, in fact I don't know a single person like that. You can't keep assuming every lad wants to stay in the north east and live like their parents did.
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Excellent post.

I had made peace with the fact that I’d probably never get on the property ladder unless I moved back home or to somewhere similar, but my circumstances changed purely through good fortune.

If we hadn’t bought this place we’d be living in another almost identical flat living the exact same life we do now but paying rent rather than mortgage repayments.

We’re the same as you in terms of going out all the time, restaurants, bars, gigs, cheap flights and all that.
 
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James said:
You can't keep assuming every lad wants to stay in the north east and live like their parents did.
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And whos doing the assuming now? Ive never once said that.

Saying you couldnt afford somewhere within 20 miles where you live sounds like complaining to me.

The north east is affordable. If you move away thats your choice. But to then say you cant afford a house just simply isnt true.
 
42 said:
And whos doing the assuming now? Ive never once said that.

Saying you couldnt afford somewhere within 20 miles where you live sounds like complaining to me.

The north east is affordable. If you move away thats your choice. But to then say you cant afford a house just simply isnt true.
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20 miles. :lol::lol:
 
People smerking derrrrp and rerrrlies and saying they haven’t got a pot to piss in.

I’m 35 and still live at home !

Gonna get some council accommodation soon, cheers for the contribution everyone x
 
---Nemo--- said:
Your choice of career path. Deferred gratification that may lead to the social status and home ownership you aspire to or a have it now under "reduced" circumstances.
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Same goes for all those miners really. Should have chosen a different career path. After all, there's an abundance of jobs kicking around the North East.
 
James said:
I've never complained once about not being able to afford to buy a flat in London. I didn't move here to settle down, I moved for the social life, the gigs, the cheap flights, and then because it's where the most interesting work is in my profession. The cost of housing I fully understand and don't mind, that's just the price you pay. It's a short/medium term decision.

I posted the value of my rented flat to show the posters that even the smallest flat will set you back 15x or 20x (and the rest) your annual salary. It wasn't @MackneyHackem giving it the big one about living in a mansion, it was a reflection of the cost of here vs north east.

What the SMB seem to forget is that most young people do not want to live in suburbia nor ex mining villages. Yes I could probably afford somewhere to live in Wheatley Hill but I'd be bored out my skull every day. Not every young person has the latest phone or car on tick either, in fact I don't know a single person like that. You can't keep assuming every lad wants to stay in the north east and live like their parents did.
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Very good post.
 
dangermows said:
Back in the day they were clever:

Instead of buying Easter Eggs they just painted real eggs brown and passed them off as opened creme eggs; rather than buy and run a car they just bought a shell of one and put their feet through the bottom, legging it to work flintstone style; bought one pair of shoes and each year gradually grew more into them; to save on clothes many just breathed in loads of toxic fumes to stunt their growth etc.
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:lol::lol:
 
Government would rather give people money rather than tackle the problem of affordable housing. Schemes like Help to buy (loan) and Help to buy ISAs are not for us, it’s a deflection tactic to make it seem like they want people on the property ladder when in fact if they built affordable housing it would fuck turn people against them. Because people who bought their houses 30 years ago for 30k which are now worth 100k would not vote for a government who’s going to reduce the value of their house.

And because of the banking crisis, and mortgage regulation there is much more scrutiny on lending which is what was needed but it makes it harder for people to get on the property ladder.

I’m currently living with my parents and my fiancée, it’s only temporary until our purchase goes through, but no way in hell would I have been able to afford a mortgage on my own for a decent property. So then it’s a case of finding someone to settle down with before even considering a mortgage.

It’s not so much the mortgage that’s unaffordable, but when you add bills, council tax into the mix, I can certainly see why people think fuck that.
 

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