didds wrote:Bottom line - when you earn 19K a year you arent buyiong anywhere. Except as suggested if you live in the right place. and have that 19K job whilst living there
One has to wonder if society ought to be encouraging someone earning £19k to buy a property.
It wasn't so in the past. Pre-Thatcher there were some really solid houses available to rent at low cost for families, which got sold off and were not replaced. Absolutely tragedy.
AAMOI I first bought a house (1969-70) because the cost was similar to renting. I was incredibly lucky having a couple of friends with cash who lent me enough to plug the hole between my savings and the deposit needed - which was a horrendous 30% of the price, or so, as I remember. One couldn't do anything like that after the Great Inflation in house prices, mostly brought on by loosening of lending criteria. Prices couldn't have moved up without liquidity.
Arb.