#22

20k a year from a rental in East Midlands? How big is that house and why the hell are they living in a van

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#23

Also I’m assuming that’s 20k after letting agent fees so God only knows how much the rent is for the tenant

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#24

But but but haven’t they done well, and don’t you aspire to be just like them?

#25

Image result for utopia milner

#27

I don’t really drink and I’ve got no money. There are other factors at play.

#29

My dad irl.

#30

My parents actually, I think, were just like that. At least after getting married.

#31

SING IT!

2 Likes
#32

To be fair, houses used to cost, like, a couple of quid, so owning one outright in your early 30s was a plausible thing back in them olden days. Now houses cost the equivalent of their own weight in gold the idea of even getting a mortgage by your early 30s seems like a hell of an ask.

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#33

Salary and how serious you are about saving is irrelevant if you just inherit a large amount of money when a relative dies (people in their late 20s-30s it’s not unusual for grandparents to die, so if they have loadsa money and your family is fairly small you could get quite a lot).

It’s kind of sickening to see people who’ve been shit with money all their lives suddenly have this happen to them, and just like that they’re sorted for life (unless they’re REALLY shit with money and blow their entire inheritance). But what good does it do to dwell on this.

3 Likes
#34

Also no way he doesn’t have a Defined Benefit pension. Much easier to retire when you know exactly what you’ll be paid every year and your former employer(s) assume all the investment risk

#35

I sometimes think making a choice like this (sacrificing everything, while you’re young, so you can get a mortgage deposit and can claim X lump of bricks is yours) is the same sort of mentality as choosing not to go to uni because of tuition fees. I don’t really see the appeal yet a lot of people buy into it, don’t really think critically about how meaningless and overblown tuition fees and owning your own home actually are.

I think it’s also a peculiarly British thing where we’re too focused on owning things and not being ripped off than actually enjoying life and having fun. I’m a million miles away from owning a property. I’ve also got ‘whopping’ tuition fees to pay (when in reality I’ll pay roughly not even 1% of my yearly income towards them) but unlike 95% of people I’ve selectively decided to not care and focus on enjoying my 20s/30s/40s/50s etc…

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#36

Owning a home might be meaningless from a purely aspirational (or whatever) point of view, but it isn’t at all from a purely practical perspective. The lack of social housing stock and poor renter’s rights in this country and a rental market that, in certain parts of the country, keeps getting worse and worse value for tenants means that long term renting is not attractive for anyone aiming for financial security. It doesn’t need to be this way, but that’s the current reality.

I agree that sacrificing your 20s for the sake of an unattainable mortgage is daft, but so is pretending that there aren’t tangible benefits to owning vs renting that go beyond the national fetishisation of owning your own home.

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#37

https://www.telegraph.co.uk/finance/property/renting/11438207/Why-are-we-Brits-such-snobs-about-renting.html

#38

Seeing it’s the telegraph, and reading the link, I’m thinking the article is something along the lines of “I wish the plebs were more accepting of having to rent, so us collecting all their wages from them wasn’t such a chore”

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#39

The Telegraph writes: “I’m renting” tells you that someone hasn’t inherited yet, that their parents live modestly or haven’t downsized.

The Telegraph doesn’t seem to realise (or care) that there are many, many people out there whose parents have fuck all money to give them for a deposit.

Every single person I know who has a mortgage got the deposit directly from their parents or from a grandparent leaving them money in their will.

#40

Ugh. As bad as I thought, albeit in a different way :frowning:

#41

An oft repeated idea but not particularly borne out by the stats tbh tbf…

#43

So I said a while back I was going to get a loan from Wonga the day before they went bankrupt. People said that was stupid. Now the church wants to buy their debt and with their bad PR about the other stuff are they going to forgive all the loans? I feel like dis potentially has just cost me a lot of free god money.

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#44

The question is should I go with my gut more?