andyh wrote:
I make it 120k self employed, 250k+ PAYE to be a family breadwinner and living as you see people do on the tv adverts.
And you have to extend and keep up that income for your entire working life.
Aint gonna fugging happen.
I would say you're in the right ballpark there for where I currently live. The average house price is 200K+. So you'd probably have to save up 40K for a deposit for starters. That rules out virtually everyone. Or raise your family in a flat. And you'd need an income of about 60 - 70K to borrow 160K, and you'd be mortgaged up to eyeballs, completely vulnerable to an increase in interest rates, and have no disposal income. And, of course, there are virtually no safe jobs nowadays.
This is one area where I must say the public have to take some part of the responsibility. Of course, it's all done by design to feed the banking system, but too many of the baby boomer generation have been too decadent, greedy and materialistic, and too many have treated housing as a way of making money and supporting a materialistic lifestyle, instead of a home to live in. When I speak to people of this generation, they are almost without exception (a) economically illiterate, and (b) completely unaware how fucked their children and grandchildren's generations are.
I was reflecting on this a while ago, as I was watching an old bloke doing his gardening across the road from me, who lives in a big detached house (I live in a flat, I hasten to add!). And I was thinking, you just won't see this much in the future. The banks will own virtually everything, and anyone that does have a house will eventually have to sell it to fund caring arrangements.