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My point is that you said "I don't understand how people struggle to buy a house. ". I'm simply proving to you why people struggle.
People don't chose to have low paid jobs, and it used to be that people with low paid jobs could afford to get on the housing market. This is why there is an issue with house prices today and why people complain about them.
Oh and a roof doesn't make a home btw.
easy for you to say
I was just after some feed back. From most of the people I've spoken to, I should just start saving as much as poss from as early as poss. I'm not fortunate enough to gain financial support from the parents, as they rent off the council, so we're not very well off I'm afraid. Oh gosh.
Also, my qualified 'Staff Nurse' wage isn't going to be enough to support a house/flat buying anytime soon once I've graduated!!
To me it was. Renting always felt like throwing money away and that went against everything I'd ever been brought up to believe. I felt I was constantly walking around on egg shells in the place in case I did any damage. I wanted the freedom of not having a landlord breathing down my neck about things. I wanted the responsibilty of my own place and the security that offers in knowing there wasn't the chance I could be kicked out at any time. I always said a rented property would never be home and it wasn't.
I've lived for a year previously in the area I now live and absolutely hated it. Moved back there now and love it, it is home and I no longer see my parents house as where home is, all becuase I own my own house. So you can say all you like a rented place is only the same - it definately isn't to me and many other people I know.
It's not worth it :no:
There's no way I'd be able to move back to my home town, even with my boyfriend's salary and my salary as a jr doctor combined. In the early 1980s my dad bought a 3 bedroom detached property in Surrey for £53,000. Just had a look online, and a house down our road with the same number of bedrooms is on offer for £500,000...
See I don't have any restrictions on my property. It's mine to do what I want with, no one to pay a lease to and so on. I'm not just paying the interest repayments on my mortgage and do hope to make substantial overpayments within the terms allowed on it, so no I'm not throwing money away by having my own property, so it's completely different to renting in my case.
I don't like renting. I constantly feel as though the landlord is going to come round and let himself in. Why should I feel grateful I have shelter? Living in a developed country, it's pretty much a basic right, and I don't feel grateful to be lining the pockets of some rich bloke.
to the op, nurses wages aren't so bad. My friend has just bought a house on a new nurses wage. Granted she bought with her partner, but even on her own, she would have been able to get a mortgage on a smaller place. It depends where you want to live though.
The average UK wage is a smudge over #26,000pa, and the average family income is a smudge over #33,000pa.
Not for the first time, you are talking utter shite. You grossly overestimate how much people earn, which really doesn't surprise me.
For the record, I'm a Durham grad (so I'm pretty clever, even if I say so myself) any my graduate job pays about #18,000. We can afford to buy because my wife earns the same and our parents gave us a deposit, but our house is only worth #100,000. That wouldn't buy you anything in London.
A parking space or garage perhaps.
A nice shopping trolley with a view
I find it hard to believe that City grads make in their first year out of uni more than the majority of the UK will ever make at the peak of their career - there'd be uproar if that was true.
Not everyone in life is going to move up to the highest point of their career ladder.
At the moment I'm dealing with job applications for a recycling company. There are guys in their 40s applying for jobs who were made redundant from Rover, they were on fairly decent wages and are now trying to get jobs that pay £230 a week.
You don't seem to take into account in your equation that millions of people in this country work in low paid sectors such as care work, shop work and catering. Very few will earn anywhere near your figures in their life.
In all the careers you have mentioned it is only the people who get to the top that make that sort of money. However, due to the pyramid structure of any organisation very few people do ever get to those jobs. Teachers for example have to get to deputy head to be getting 40k normally. Many people will start a job in the 20's and whilst they get pay rises and promotions the actual end salary will not be significantly greater when you take into account inflation during their working life.
People have a different attitude to city grads and it's a lifestyle that not many people can hack or want to hack and therefore accept that they will be earning drastically more. However, you then take a company like mine who don't even give London scalings and their grads are meant to live on the same as I'm living on.
For most of these people the "peak" of their career is in their 50s. A bit late to be getting the first steps on the property ladder, don't you think?
I think that's the most telling thing you've said. City pay packets have nothing to do with reality, and they haven't had since the early 1980s.
A good friend of ours is a successful grad with RBS, and she earns in a year what I earn in five.
also, not everybody is a graduate, quite a lot of people don't go to university!!!!!
i earn £13000 a year before tax, and am in quite a bit of debt so can't even think about looking at moving out until I've paid everything off so I still live at home with my parents
There are schemes where you can buy 40% of a property and rent the rest which I thought was quite a good idea until I saw Dispatches on Monday and they were pointing out all the cons of this. Ultimately all I can say is that I have to be selfish and hope prices don't slump completely or we're f***ed. I don't know what the answer is other than more affordable housing and a clamp down on smaller properties going to buy-to- letters (if that is possible!) - as I feel a lot of potential homeowners are missing on wonderful first time buyer properties because of this.