Chasing money

[Stere]

Have to disagree  as rent is higher as % of most people incomes than its ever being -  in recent history in the say last 100yrs most likely?

 

 

 

Might be ok in other countries to rent as they have very cheap  housing esp  in France or Italy etc so not really comparable at all..

 

Denmark has goverment rent control also?

 

Quote

In Denmark, the rental market is rent-controlled to ensure a fair cost of living for everyone. A rent-controlled is created to make sure the people who rent ...

 

 

Couldn't find a rent graph with a few mins googling, but house prices mirror rents

 

Doing withot sky TV isn't gonna help much, its just hardluck versus the situation before  2000 as others have said already

[doobin]

The financialisation of the housing market has destroyed any notion that we live in a meritocracy. 

[AHPP]

18 minutes ago, doobin said:

The financialisation of the housing market has destroyed any notion that we live in a meritocracy. 

 

Parklife!

[JLA1990]

In todays world people would rather complain and accept being poor/poorer than do something about making themselves richer. Yes, previous generations had a lucky break with house prices etc but we have never had it easier to up-skill/move around/travel/borrow money/enter higher level education - the list goes on and on! In line with OP - I am 34, own a house, a business and have worked abroad but I’ve changed careers (construction to arb/ecology). As the op suggests I’ve worked hard and at my age I'm pretty happy but I’ve have to retrain and move away from family to realise the above. 

Edited October 27 by JLA1990

[Mike Hill]

It depends. 

 

I worked my guts out for years in order to afford a house deposit,bought mine in 2015 on a single income. My parents raised me and I got a Casio G-shock watch and a bank check for $300 when I left home at 16.

 

I have done some of the hardest jobs there are,pulled off some smart moves as well as plenty of stupid ones looking back. I would say I am slightly ahead of the average 45 year old but it's mainly due the the fact I am awesome.

 

Also modest.

 

Anyhoo ,property in Denmark is really expensive you also have to live there in order to buy it in general. Despite the rent being controlled it seems like half of København lives in Malmö and commutes in.

 

If you live out in the sticks like in Ylland or Jutland where there are no jobs,your up against work from homes or houses bought as holiday premises. 

 

The only way the prices are going to come down is to increase supply. 

 

 

 

[Rushes]

When I bought my first house there was something called MIRAS - mortgage income relief at source. You got a tax rebate for the mortgage on one house.

That went away and landlords were able to get higher rents as a result - because housing wasn't subsided.

I wonder if bringing this back would enable people to own their own houses - added to this the mortgages of landlords no longer being tax deductible [I think I am correct here?] then the balance would move to private ownership. Wouldn't be cheap but fixer uppers would attract VAT - which would increase revenue to HMRC [landlords are vatable so can reclaim]

 

 

Would that work?

Edited October 27 by Rushes

[Stubby]

5 minutes ago, Rushes said:

When I bought my first house there was something called MIRAS - mortgage income relief at source. You got a tax rebate for the mortgage on one house.

That went away and landlords were able to get higher rents as a result - because housing wasn't subsided.

I wonder if bringing this back would enable people to own their own houses - added to this the mortgages of landlords no longer being tax deductible [I think I am correct here?] then the balance would move to proivate ownership. Wouldn't be cheap but fixer uppers would attract VAT - which would increase revenue to HMRC [landlords are vatable so can reclaim]

 

 

Would that work?

I took advantage oh MIRAS . It was up 30K I seem to remember .

[John Shutler]

bought a pickup with a loan of 3k in 2006 and started doing some bits alongside my climbing job.  bought a 5k chipper in 2008 with a bank loan, my folks were pretty concerned at the time and wanted to make sure “ knew what i was doing” 16 years later i’ve got about 400k worth of kit:

bought a house 11 years ago in the new forest and some land over the next couple of years which had appreciated nicely. 

bought a place in france a coupe of years again and just sold that for a profit and bought another.

i’ve worked pretty hard and enjoyed myself along the way 

 

[dan blocker]

Well done to those who’s property as appreciated in value over the years and who’ve built up some spare money in the bank and other investment and or money invested in work assets(that includes me? Up to a point?) I wish you all the best of luck keeping hold of it? by the time Labour have finished with us they’ll bleed us dry🤔. 

[Peasgood]

Lived like a pauper and worked like a slave all my days. Never thought I would have much to show for it but things fell lucky along with a few lucky decisions and I am probably what most folk would call rich now.

Nice house worth a fair sum and all paid for, cash in the bank, no debts and other assets too.

Still work because I know no better but more of a part time/hobby basis now. Still put 12 hour days in when needed but also days where I just sit and look out of the window at the rain if that's what suits me.

I feel very lucky and appreciate all of it, none is taken for granted.