They certainly didn't.

Some might question why the media should have a particularly one sided opinion on two middle eastern countries.....Kerching and owners might have something to do with it.

We know why the progressives do due to their view of history and what they view as 'white European' colonialism.....as anything that looks white is 'boo hiss'.

Edited by Stirlingsays (25 Oct 2023 6.23pm)

'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen)

100% hit rate on age/experience comments - great stuff as ever.

For reference, I worked for a letting agent for a couple of years in my early 20s so I’d be very confident I have considerably more experience in this space than you.

The money in being a landlord has never been in the rental income - the money is in the ever-appreciating asset you will outright own at the end of your lending period, that a succession of tenants have paid it off on your behalf (usually with a bit of profit for good measure). It’s also very strange to suggest someone with a mortgage doesn’t ‘own’ their property; when people talk about homeowners, that always includes those with a mortgage.

The reason many renters can’t get their own mortgage are obvious; huge rents limiting their ability to save for a deposit and a hugely inflated housing market - landlords are directly impacting both of these things.

I actually agree it’s not landlord’s fault; they are just people making the most of an incredibly stupid system.

Because it’s pathetic to mention it in every exchange.

The whole premise of your cycle is that everyone wants to be a landlord - it should be difficult for people to hoard whole portfolios of property, and then magically your cycle breaks and more people can own their home.

The affordability argument in paying a mortgage makes no sense when rent costs have exceeded mortgages for nearly all of the last decade.

I just explained the reason it’s difficult to get a mortgage now; it has nothing to do with passing affordability checks or qualifying for a loan, which is actually relatively easy - the issue is in the hugely inflated values and consequently the massive deposits required to buy.

Ok point taken.
Back to the mortgage and property costs. People seem to not want to move away and travel to work from a distance. Or be away from family and friends. Granted it would be perfect not to have to but if something is wanted badly then inconvenience and change in personal circumstance will be part of the price to pay. Property gets cheaper the farther from big towns and cities and two wage earners could get a mortgage if they did this. Rent is cheaper so allowing saving to be made. Alongside 25 year mortgages arnt the only ones available. Go for a forty year mortgage, lower monthly payments for a start and pay down little and often when you can.

Thanks.

Your post doesn't affect the bigger picture - of course people can make lifestyle changes to improve their ability to save, but it doesn't change the reality it's bordering on impossible for the average person. The money you save on rent living out of London you'd spend on rail fares commuting in.

We all accept there is a cost of living crisis; that also applies to young professionals trying to save - it might not mean they can't afford to eat or turn the heating on, as it does for others, but it means any aspiration to save significantly become very hard to achieve.

I believe average salary in London is around £40k - after deductions, you're maybe clearing £2.5k a month.

Average rent is somewhere between £2000-2500 PCM excluding utilities.

The average deposit paid by a first-time buyer across the UK last year was £62k. In London & Greater London it was in excess of £100k.

How do you save between £60-100k, earning £2500 a month and paying £2000 in rent alone... you obviously can't.

The banks are the real winners of the last of the last 13 years, after the crash which their recklessness caused and they were bailed out by us, how they have prospered at others expense, the BOE in particular has a battered reputation as to its competence.

This week, it was estimated that nearly 4 million Britons are living in destitution, getting by on one meal a day or relying on food banks.

Many of those in such dire straits will have had their misery compounded by the austerity of the past 13 years, and cuts to benefits and public services made in the wake of the giant crash of 2008 – caused by the same class of bankers, now enjoying limitless bonuses.

Even Thatcher was not amused by them and capped their piggery.

All this is happening under a fabulously wealthy prime minister who was formerly an investment banker. who was himself instrumental in the RBS failure.

'The unacceptable face of capitalism'.