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Monthly housing costs
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Post new topic   Reply to topic    Downsizer Forum Index -> Finance and Property

How much a month is your rent/mortgage
Less than �100
21%
 21%  [ 13 ]
Less than �200
8%
 8%  [ 5 ]
Less than �400
18%
 18%  [ 11 ]
Less than �600
21%
 21%  [ 13 ]
Less than �800
11%
 11%  [ 7 ]
Less than �1000
5%
 5%  [ 3 ]
Yikes
13%
 13%  [ 8 ]
Total Votes : 60

Author 
 Message
Nick



Joined: 02 Nov 2004
Posts: 34535
Location: Hereford
PostPosted: Sun Jun 24, 12 5:56 pm    Post subject: Reply with quote
    

Bebo wrote:
jema wrote:
For that you require a Country with a social conscience, one that thinks decent housing at a decent rent is worth a sacrifice.


You mean like the UK was in the late 40's and 50's?


Right, so how do we engineer a situation where an economically collapsing Europe gives rise to a dominant German aggressor state riding rough shod over smaller nations, with only plucky Brits turning up to save the day (after the Italians, Spanish, French and Greeks give up)?

Hey, hang on a moment...

Katieowl



Joined: 01 Jun 2006
Posts: 4317
Location: West Wales
PostPosted: Sun Jun 24, 12 7:54 pm    Post subject: Reply with quote
    


Mr O



Joined: 13 Feb 2005
Posts: 5512
Location: Nova Scotia, Canada
PostPosted: Sun Jun 24, 12 8:00 pm    Post subject: Reply with quote
    

Nick wrote:
Bebo wrote:
jema wrote:
For that you require a Country with a social conscience, one that thinks decent housing at a decent rent is worth a sacrifice.


You mean like the UK was in the late 40's and 50's?


Right, so how do we engineer a situation where an economically collapsing Europe gives rise to a dominant German aggressor state riding rough shod over smaller nations, with only plucky Brits turning up to save the day (after the Italians, Spanish, French and Greeks give up)?

Hey, hang on a moment...


Well you would need the Canadians, the Aussies, the New Zealanders, and the Gurkas to join in.

Nick



Joined: 02 Nov 2004
Posts: 34535
Location: Hereford
PostPosted: Sun Jun 24, 12 8:16 pm    Post subject: Reply with quote
    

You free?

Shan



Joined: 13 Jan 2009
Posts: 9075
Location: South Wales
PostPosted: Tue Jun 26, 12 7:23 am    Post subject: Reply with quote
    

I think people are confusing a few issues here. The term 'housing shortage' is spouted about quite often but is there REALLY a housing shortage or is it more of a case of there not being lots of cheap desirable housing to buy? The simple fact is that people want to own housing, whether realistic or not. Rentals are freely available - so is there really a shortage of housing or merely a shortage of people getting what they want?

PS I do rent and it is in the eye watering category BUT it is a damn sight cheaper than purchasing the same type of property because the rent would not even cover the interest portion of a mortgage with current valuations.

chez



Joined: 13 Aug 2006
Posts: 35935
Location: The Hive of the Uberbee, Quantock Hills, Somerset
PostPosted: Tue Jun 26, 12 1:17 pm    Post subject: Reply with quote
    

Shan wrote:
I think people are confusing a few issues here. The term 'housing shortage' is spouted about quite often but is there REALLY a housing shortage or is it more of a case of there not being lots of cheap desirable housing to buy? The simple fact is that people want to own housing, whether realistic or not. Rentals are freely available - so is there really a shortage of housing or merely a shortage of people getting what they want?

PS I do rent and it is in the eye watering category BUT it is a damn sight cheaper than purchasing the same type of property because the rent would not even cover the interest portion of a mortgage with current valuations.


Yes, you're definitely right re bang-for-buck regarding purchase versus renting. We are renting a fantastic house, a bungalow with a large flat garden that is suitable for Nenna's mobility issues; but we would not be able to afford it without the substantial housing benefit that we receive - which is also weighted favourably because we have a disabled child.

I think that a lot of even crummy rentals are expensive, though - I was speaking to a friend who is a nursery worker yesterday and she's about to be made homeless - her landlord wants to sell her house. She's in a cleft stick because to get a council property - she is a single parent with three children - they need her to pretty much be sleeping on the street before they can be offered 'emergency accommodation'. That is B&B, twenty miles from the town that the children are at school at and where she works. The council say she needs a four bedroom house - because of the age of the kids, apparently - and won't offer her anything less. And her credit rating is not fantastic, so is apprehensive about approaching private landlords. She says that she would make do with a two bedroom house if they had to, so long as she had somewhere to live - but it's finding somewhere within her price bracket.

I think there are a lot of people in that situation.

Down here it's difficult as well because the holiday let business is lucrative - that drives the prices up.

ETA: I guess, it's still a housing shortage, even if it's an 'affordable' housing shortage.

vegplot



Joined: 19 Apr 2007
Posts: 21301
Location: Bethesda, Gwynedd
PostPosted: Tue Jun 26, 12 1:36 pm    Post subject: Reply with quote
    

M-J on a mission would go a long to helping solve the housing issue.

Nick



Joined: 02 Nov 2004
Posts: 34535
Location: Hereford
PostPosted: Tue Jun 26, 12 1:37 pm    Post subject: Reply with quote
    

A cull of the grammatical sinners?

vegplot



Joined: 19 Apr 2007
Posts: 21301
Location: Bethesda, Gwynedd
PostPosted: Tue Jun 26, 12 1:51 pm    Post subject: Reply with quote
    

A greater % yield than the Black Death, Cholera, Typhoid, Darwinawardism, and Spanish flu combined.

Shan



Joined: 13 Jan 2009
Posts: 9075
Location: South Wales
PostPosted: Tue Jun 26, 12 5:44 pm    Post subject: Reply with quote
    

Chez wrote:
Shan wrote:
I think people are confusing a few issues here. The term 'housing shortage' is spouted about quite often but is there REALLY a housing shortage or is it more of a case of there not being lots of cheap desirable housing to buy? The simple fact is that people want to own housing, whether realistic or not. Rentals are freely available - so is there really a shortage of housing or merely a shortage of people getting what they want?

PS I do rent and it is in the eye watering category BUT it is a damn sight cheaper than purchasing the same type of property because the rent would not even cover the interest portion of a mortgage with current valuations.


Yes, you're definitely right re bang-for-buck regarding purchase versus renting. We are renting a fantastic house, a bungalow with a large flat garden that is suitable for Nenna's mobility issues; but we would not be able to afford it without the substantial housing benefit that we receive - which is also weighted favourably because we have a disabled child.

I think that a lot of even crummy rentals are expensive, though - I was speaking to a friend who is a nursery worker yesterday and she's about to be made homeless - her landlord wants to sell her house. She's in a cleft stick because to get a council property - she is a single parent with three children - they need her to pretty much be sleeping on the street before they can be offered 'emergency accommodation'. That is B&B, twenty miles from the town that the children are at school at and where she works. The council say she needs a four bedroom house - because of the age of the kids, apparently - and won't offer her anything less. And her credit rating is not fantastic, so is apprehensive about approaching private landlords. She says that she would make do with a two bedroom house if they had to, so long as she had somewhere to live - but it's finding somewhere within her price bracket.

I think there are a lot of people in that situation.

Down here it's difficult as well because the holiday let business is lucrative - that drives the prices up.

ETA: I guess, it's still a housing shortage, even if it's an 'affordable' housing shortage.


I wouldn't say there is an affordable housing shortage, perhaps just not what people desire as housing as a shortage. Think about the 1950's. People used to lodge - now they expect to leave University, walk into a plush job and buy a house.

chez



Joined: 13 Aug 2006
Posts: 35935
Location: The Hive of the Uberbee, Quantock Hills, Somerset
PostPosted: Tue Jun 26, 12 5:47 pm    Post subject: Reply with quote
    

Shan wrote:
I wouldn't say there is an affordable housing shortage, perhaps just not what people desire as housing as a shortage. Think about the 1950's. People used to lodge - now they expect to leave University, walk into a plush job and buy a house.


I still did that in the 1990's - and I think there's been a move to facilitate that again with the rent-a-room scheme. My inlaws (may their camels never increase) rent a room out in their house to supplement their income.

I do think that there has been a lot of speculation in the new-build market - blocks of flats in Manchester, for example, that were bought up by investors and simply held, without being let out, until prices rise. I don't know where that stands now.

oldish chris



Joined: 14 Jun 2006
Posts: 4148
Location: Comfortably Wet Southport
PostPosted: Tue Jun 26, 12 6:51 pm    Post subject: Reply with quote
    

[quote="Chez:1265016"]
Shan wrote:
I do think that there has been a lot of speculation in the new-build market - blocks of flats in Manchester, for example, that were bought up by investors and simply held, without being let out, until prices rise. I don't know where that stands now.
and Liverpool, Birmingham and a few NE cities: they've lost a packet apparently. I have read that house prices are being maintained by the mortgage companies. The theory is: you have loaned 90% on several adjacent �100K houses. Fine. One house-holder can't pay, you repossess, it sells for 85K. You've now got several houses with negative equity. That's a problem.

Me? I don't mind, bought house for half its present value, have no mortgage, don't plan moving (other than to local Crem some time in the future).

I have got some shares BTW. They've halved in value since 2004, but the dividend isn't bad (way better than a deposit account).

oldish chris



Joined: 14 Jun 2006
Posts: 4148
Location: Comfortably Wet Southport
PostPosted: Tue Jun 26, 12 7:41 pm    Post subject: Reply with quote
    

Shan wrote:
PS I do rent and it is in the eye watering category BUT it is a damn sight cheaper than purchasing the same type of property because the rent would not even cover the interest portion of a mortgage with current valuations.
It does depend on timescales. I've been doing some sums. We bought our first house in 1975, moved twice and then downsized in 2002. Our total interest payments over that period was about �100,000. We sold up for �200,000, paid off the remaining capitol (�35,000).

Net housing cost over the period of my marriage = minus �65,000.

jema
Downsizer Moderator


Joined: 28 Oct 2004
Posts: 28237
Location: escaped from Swindon
PostPosted: Wed Jun 27, 12 7:30 am    Post subject: Reply with quote
    

In my experience kids leaving university today have little optimism on job expectations and don't ever expect to buy a house. They are more pessimistic about prospects than any generation in decades.

I can't quickly and accurately work out our cost of housing in 25 years, but I have a feel that in is around negative �100,000. Nice for us but crap for those who will really pay that bill.

marigold



Joined: 02 Sep 2005
Posts: 12458
Location: West Sussex
PostPosted: Wed Jun 27, 12 9:04 am    Post subject: Reply with quote
    

It's difficult to compare two eras fairly because conditions are so different. People have to budget nowadays for "essentials" that didn't even exist when I left home in 1977. I had no car, mobile phone, TV package, internet or credit costs to pay. I walked to work, saved some of my pay and never bought anything on credit, but food was expensive and we didn't heat our shared house because we couldn't afford to. Still, 4 - 6 boisterous young adults in a three-bedroomed house keep it quite cosy! And we didn't expect to sit round in our scanties in midwinter .

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