Housing market

[AnilS]

BBC interviewing a 40 y.o. couple today as part of their 'what is important to you in the election' series. I think, but not sure, this was in the Black Country. Each earned £40K p.a. gross Rent a grand a month. He had a van for his business; no idea about her. They were asked how long they'd take to build up a deposit, as they were both desperate to get on the housing ladder. I think that deposit sum was £12K (but surely I was mistaken because that's chicken feed nowadays in this market). She said, 'we can put away £100 a month tops'.

Immediate thought here is 'what the heck do you spend your money on (no kids)? Even if £40 net, that's getting on for 3 1/2 grand a month.

Baffles me, the useless BBC interviewing techniques to present a grand overall picture of gloom without a bit of detail.

I agree. I watched it as my parents live in that area. It is quite deprived and housing there is not outrageously expensive but I understand that many still can't afford it.

£40k net (both were earning £30k each).
I have 4 adults in our house, and our average weekly shop is £100.

They didn't say what else they spent on, apart from rent, but only saving £100/months! I think I need to have a chat with them!

 

[Snufkin]

More promises of foolish props to the Housing Market from the hapless Tories.

 

[MVV]

BBC interviewing a 40 y.o. couple today as part of their 'what is important to you in the election' series. I think, but not sure, this was in the Black Country. Each earned £40K p.a. gross Rent a grand a month. He had a van for his business; no idea about her. They were asked how long they'd take to build up a deposit, as they were both desperate to get on the housing ladder. I think that deposit sum was £12K (but surely I was mistaken because that's chicken feed nowadays in this market). She said, 'we can put away £100 a month tops'.

Immediate thought here is 'what the heck do you spend your money on (no kids)? Even if £40 net, that's getting on for 3 1/2 grand a month.

Baffles me, the useless BBC interviewing techniques to present a grand overall picture of gloom without a bit of detail.

Yeah, I heard that puzzling.

 

[hifinutt]

I agree. I watched it as my parents live in that area. It is quite deprived and housing there is not outrageously expensive but I understand that many still can't afford it.

£40k net (both were earning £30k each).
I have 4 adults in our house, and our average weekly shop is £100.

They didn't say what else they spent on, apart from rent, but only saving £100/months! I think I need to have a chat with them!

i have a family like that .. its cheaper for them to rent than buy , they have 2 expensive cars and love holidays to exotic places . if they saved a bit then they would have a good deposit !! however everyone has difference spending priorities

 

[tuga]

Interesting(ly depressing) read...

The United Kingdom’s distinctive system of flat ownership — it rarely exists outside of England and Wales — dates back centuries. Residents occupy their property for a fixed period known as “leasehold,” but they don’t actually own the land on which it sits. (...)

Britain struggles to reform its ‘feudal’ housing system

Big changes to the centuries-old model of property ownership still look far off, even with Labour poised for an election win.

www.politico.eu