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

 

[Bob McC]

My house is leasehold.
999 years.

 

[mandryka]

Am I right to think that what Labour are saying in interviews is that after they win they will just ban s21 and leave s8 as the only recourse for landlords?

The Tory Renters Reform bill will be ditched. The only valid reasons for repossession will be the ones currently available through s8. ASTs will remain.