Netflix and takeaways blamed for young people failing to get on property ladder, study finds

This is worrying that so many people think like this yet ignore skyrocketing house prices and stagnant wages. People thinking like this and voting accordingly explains why so many young people are utterly screwed.

Source: https://uk.finance.yahoo.com/news/yo...050028952.html

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Originally Posted by Doucas

This is worrying that so many people think like this yet ignore skyrocketing house prices and stagnant wages. People thinking like this and voting accordingly explains why so many young people are utterly screwed.

Source: https://uk.finance.yahoo.com/news/yo...050028952.html

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"The Policy Institute and Institute of Gerontology at King’s College London report highlights that these are minor factors when the huge increases in house prices and required deposits along with stagnating wages are considered."

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Originally Posted by Taunton Blue Genie

"The Policy Institute and Institute of Gerontology at King’s College London report highlights that these are minor factors when the huge increases in house prices and required deposits along with stagnating wages are considered."

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Yes but on the survey done 48% thought a factor was people spending too much on Netflix.

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Originally Posted by Doucas

Yes but on the survey done 48% thought a factor was people spending too much on Netflix.

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You only need to observe the vox pops on TV news to realise that many people are not very well-informed.

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Originally Posted by Doucas

Yes but on the survey done 48% thought a factor was people spending too much on Netflix.

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Netflix is £14.99/month or so. Either the people interviewed live in very cheap areas, or they haven't really thought how much a house actually costs.

Whilst house prices are rising, I do think the underlying point is that people do have so much more stuff to buy these days than many years ago (phones, internet, subscriptions and so on). However, even if we make allowances for these additional costs, it still doesn't explain why previously a house cost 3x average salary and now its 7x average. house price rises and slower wage growth isn't helping.

What also hasn't helped is that people are living longer, so houses/wealth aren't being passed down the generations as quickly as previously.

Maybe we just move away from the Thatcher doctrine of home ownership and look towards the European model where renting is so much more the norm.

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Originally Posted by DryCleaning

Netflix is £14.99/month or so. Either the people interviewed live in very cheap areas, or they haven't really thought how much a house actually costs.

Whilst house prices are rising, I do think the underlying point is that people do have so much more stuff to buy these days than many years ago (phones, internet, subscriptions and so on). However, even if we make allowances for these additional costs, it still doesn't explain why previously a house cost 3x average salary and now its 7x average. house price rises and slower wage growth isn't helping.

What also hasn't helped is that people are living longer, so houses/wealth aren't being passed down the generations as quickly as previously.

Maybe we just move away from the Thatcher doctrine of home ownership and look towards the European model where renting is so much more the norm.

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I think we are passed the point where that is possible now. Our economy is so intrinsically linked to property values that I am convinced no government will rock the boat as much as it needs rocking. I am not a fan of the BTL market or the way becoming a landlord is promoted as the ultimate aspiration but they are not making enough profit to just lower rents to a reasonable level and take the hit. To end up with a country where renting is affordable and reasonable we need house prices to drop off a cliff and why is a parliament of home owners going to push forward with a set of policies that would result in that.

I did laugh at the big RTB policy announcement. Putting aside the fact that the Venn diagram segment of people it could possibly help can't be seen by the naked eye, these are the few renters who are actually in affordable accommodation. I nearly cried when I saw what council/housing association tenants pay on average.

At last the real truth emerges .

Should have kept Blockbuster shops open at least the kids had to leave thier houses to meet folk and practice thier people skills ready for employment and the housing ladder ..

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Originally Posted by life on mars

At last the real truth emerges .

Should have kept Blockbuster shops open at least the kids had to leave thier houses to meet folk and practice thier people skills ready for employment and the housing ladder ..

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What do you do for a living, Mr People Skills?

Let me guess: teaching English as a foreign language?

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Originally Posted by Eric Cartman

I think we are passed the point where that is possible now. Our economy is so intrinsically linked to property values that I am convinced no government will rock the boat as much as it needs rocking. I am not a fan of the BTL market or the way becoming a landlord is promoted as the ultimate aspiration but they are not making enough profit to just lower rents to a reasonable level and take the hit. To end up with a country where renting is affordable and reasonable we need house prices to drop off a cliff and why is a parliament of home owners going to push forward with a set of policies that would result in that.

I did laugh at the big RTB policy announcement. Putting aside the fact that the Venn diagram segment of people it could possibly help can't be seen by the naked eye, these are the few renters who are actually in affordable accommodation. I nearly cried when I saw what council/housing association tenants pay on average.

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I've not read too much detail on the RTB policy, but I just can't get my head around how someone on benefits is supposed to have a deposit? Aren't benefits capped according to savings?

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Originally Posted by life on mars

At last the real truth emerges .

Should have kept Blockbuster shops open at least the kids had to leave thier houses to meet folk and practice thier people skills ready for employment and the housing ladder ..

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Some call the bondulance

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Originally Posted by DryCleaning

Some call the bondulance

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I spotted Eric the Half a Bee guess a poster called North Cardiff something was Feedback in another guise. My money's on you.

Bit of a clickbait headline isn't it..

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Originally Posted by JamesWales

Bit of a clickbait headline isn't it..

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How? Did 48% of people not say that this is a reason why young people can't get a house?

On a side note I was in Tenby this week, literally every other shop had adverts on the window asking for staff. But will shops increase their wages so people can survive? No. Will we build affordable housing on a massive scale to lower house prices/rent? No.

Then you get the elderly saying 'nobody wants to work anymore' it's infuriating.

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Originally Posted by Organ Morgan.

I spotted Eric the Half a Bee guess a poster called North Cardiff something was Feedback in another guise. My money's on you.

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And mine.

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Originally Posted by Doucas

How? Did 48% of people not say that this is a reason why young people can't get a house?

On a side note I was in Tenby this week, literally every other shop had adverts on the window asking for staff. But will shops increase their wages so people can survive? No. Will we build affordable housing on a massive scale to lower house prices/rent? No.

Then you get the elderly saying 'nobody wants to work anymore' it's infuriating.

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I agree with you on the housing crisis and some of the attitudes people have towards younger people are wrong (reason number 382 for society to mix more, but I digress..!)

No, what I mean is that yahoo create the headline, but it's a bit misleading, and when you click on the report, the reality is difference.
https://www.kcl.ac.uk/policy-institu...-attitudes.pdf

For a start, the headline says 'netflix and takeaways', but the question says 'netflix, takeaways, phones, holidays abroad'. Also, there isn't that much of a difference at all between 'boomers' and 'Gen Z' and 'Millennials'

Also, across nearly every age, nearly everyone agrees that the key reason people cant afford a house is 'house prices, stricter lending rules and low wage growth'

Indeed, on the house price stuff, the results are all pretty remarkably similar across the ages, which is kinda good news in trying to get something done about it.

The yahoo headline therefore is a bit inflamatory and as I say...'clickbaity'

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Originally Posted by JamesWales

I agree with you on the housing crisis and some of the attitudes people have towards younger people are wrong (reason number 382 for society to mix more, but I digress..!)

No, what I mean is that yahoo create the headline, but it's a bit misleading, and when you click on the report, the reality is difference.
https://www.kcl.ac.uk/policy-institu...-attitudes.pdf

For a start, the headline says 'netflix and takeaways', but the question says 'netflix, takeaways, phones, holidays abroad'. Also, there isn't that much of a difference at all between 'boomers' and 'Gen Z' and 'Millennials'

Also, across nearly every age, nearly everyone agrees that the key reason people cant afford a house is 'house prices, stricter lending rules and low wage growth'

Indeed, on the house price stuff, the results are all pretty remarkably similar across the ages, which is kinda good news in trying to get something done about it.

The yahoo headline therefore is a bit inflamatory and as I say...'clickbaity'

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I'm not so convinced because in a lot of areas now the only thing that can be done is to build so many houses that house prices fall significantly. So, people might all agree that house price/wage ratio is the main issue, they won't support the steps needed to fix it because it will negatively affect their unrealised net worth.

I wonder how many new homes could have been built with that 330 billion quid the Bank of England magicked into existence from absolutely sod all during 2020 as QE?

I am quickly becoming a glass half empty private renter. Irony of this whole mess is that I think it is more likely that a government ploughs heavy financial support towards overleveraged homeowners to get them through a recession than it is that they try anything whatsoever to fix the housing market in a way that favours renters. Tbh though, I don't even want to buy anymore, just some security and a monthly rent that doesn't feel obscene would be good.

As someone who works mostly remotely, likes animals and whose rent will likely go up in September for no plausible reason, I am strongly considering putting my stuff in storage and trying to house sit for people for a year or two. Could be stressful but thankfully I have family to fall back on if I can't find something for a certain period of time.

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Originally Posted by Organ Morgan.

I wonder how many new homes could have been built with that 330 billion quid the Bank of England magicked into existence from absolutely sod all during 2020 as QE?

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Don't forget the interest we have to pay banks in exchange for giving them that money.

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Originally Posted by Eric Cartman

I am quickly becoming a glass half empty private renter. Irony of this whole mess is that I think it is more likely that a government ploughs heavy financial support towards overleveraged homeowners to get them through a recession than it is that they try anything whatsoever to fix the housing market in a way that favours renters. Tbh though, I don't even want to buy anymore, just some security and a monthly rent that doesn't feel obscene would be good.

As someone who works mostly remotely, likes animals and whose rent will likely go up in September for no plausible reason, I am strongly considering putting my stuff in storage and trying to house sit for people for a year or two. Could be stressful but thankfully I have family to fall back on if I can't find something for a certain period of time.

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Have you considered an RV/other mobile home alternative? It's very popular in the US, places here too, Bristol has many parked up on their streets.

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Originally Posted by Eric Cartman

I'm not so convinced because in a lot of areas now the only thing that can be done is to build so many houses that house prices fall significantly. So, people might all agree that house price/wage ratio is the main issue, they won't support the steps needed to fix it because it will negatively affect their unrealised net worth.

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I agree with you on that - I just mean, the headline yahoo used was a bit misleading really and designed to provoke. Was ever thus I guess.

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Originally Posted by Organ Morgan.

Have you considered an RV/other mobile home alternative? It's very popular in the US, places here too, Bristol has many parked up on their streets.

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Not having a driving license is a particular issue but otherwise I can see the benefits of that kind of life. I don't need much and I certainly don't need much space.

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Originally Posted by Doucas

This is worrying that so many people think like this yet ignore skyrocketing house prices and stagnant wages. People thinking like this and voting accordingly explains why so many young people are utterly screwed.

Source: https://uk.finance.yahoo.com/news/yo...050028952.html

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Mass immigration is pushing house prices up and up.

In Japan, where they reject mass immigration.
Adjusted for inflation, house prices have barely risen since 1997. A proper country that looks after it's people.

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Originally Posted by Lither_1927

Mass immigration is pushing house prices up and up.

In Japan, where they reject mass immigration.
Adjusted for inflation, house prices have barely risen since 1997. A proper country that looks after it's people.

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Japan experiences a decline in population year after year but the number of elderly people keeps increasing - which brings its own problems.

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Originally Posted by Taunton Blue Genie

Japan experiences a decline in population year after year but the number of elderly people keeps increasing - which brings its own problems.

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Yet they have a high trust society like all ethno states. The more multicultural a society becomes, the lower the trust. And their youth can still get on the property ladder.