Was the 1980's a happy decade?

[Kaz]

Prices are becoming ridiculous, aren't they

[miasmum]

https://www.rightmove.co.uk/house-price ... /floorplan

There's ours bought in 1984 for £22.500 sold in 1988 for £67,500 and look at the prices it has gone for since

Its changed a lot and not for the better IMO, they have stripped out a lot of original features

[Kaz]

Well, it looks as though they've converted my old place back into two separate dwellings - one two-bed and one three, both worth into the 300k region each

Good god!!

[Workingman]

Told you.

The world's upside down. Imagine being in your twenties and wanting to buy a house nowadays.

[Kaz]

My three are living it Frank

[cromwell]

Our first house cost £17,750 in 1983. A three bedroomed semi in the village.
I was 27 years old at the time, earning about £6,000 in an ordinary sort of jub with the local council. The mortgage was roughly three times what I wass earning. Those houses are now going for circa £200,000; probably a touch more.

So today's 27 year old with an ordinary job at the council is going to have to be earning £60,000 - £70,000 to be in the same position as I was back then.
That's really not going to happen is it, with the national wage being around £34,000?

When it comes to housing things are much harder for young people these days.

Kaz, our son only managed to get out of the rent trap because we paid his deposit on his house. He was paying about £600 a month rent for living in a room a bit bigger than a dog kennel. His mortgage now is less than his rent was then.

[saundra]

I worry about my grandchildren and there futures
Both my sons brought there own houses I paid there deposits at different stages in there lives and I'm glad I was able to parents can't these days I don't think
I always wanted my own home unfortunately my husband was never interested in the idea when we left the raf we got a council house and I'm still paying rent as a pensioner big mistake but there you go its called life???

[Kaz]

I worry about mine too, Saundra

Crommers, with three of them we can't afford to do that, although I would dearly love to, and neither can my ex. It just seems wrong, and a backward step, that myself (at 20), Mick (at 30) and Martin (35) were homeowners at an early age, but our kids won't be You need two decent incomes to buy now. Harry with his SN is very unlikely to ever earn much, he struggles to hold down a minimum wage job, and luckily has supportive parents - he might get a partner if he meets a capable sort of girl. Chris at 45 is a bit of a loner, pretty unlikely now to settle down, and I can see Becky emigrating long-term

[JoM]

Tom’s currently saving for a deposit. He’s looking at buying in Burton on Trent or Swadlincote and there he can get a two or three bedroom house, either old Victorian or a newish build, for between £140,000 and £160,000. We already helped Joe out with money towards a car a few years ago and said Tom could have the same when he bought a house, but at the time we assumed he’d be buying with his now ex-girlfriend so finances would be easier. Now he’s doing it alone and while we’d love to help him out more it’d mean that we’d have to do the same for Joe and it’s just not possible.
Saying that though we’ve helped him by giving him 15 months of living here rent free with all food etc provided so that he could put it towards a deposit (for him to only recently decide to start saving!).

It’s a worry though. He asked me to work out a budget for him last week, taking into account a mortgage, utilities etc. Once everything was deducted from his salary it left him with around £450 a month for food etc which isn’t bad but it doesn’t leave much if jobs need doing on the house or he needs new tyres for the car or whatever. I suppose the only positives to look at are that interest rates may decrease and he’s at the start of his career and his salary will increase as he gains experience.