You are reading a single comment by @spenceey and its replies.
Click here to read the full conversation.
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
@spenceey
I still think house prices are going to come down more yet. Sure we've seen a growth but this is down to the fact that building companies are offering part ownership schemes where by you own 50% and so does the builder.
Then there are the other schemes which have benefited first time buyers which are ending the end of this year.
If you take these two out of the equation I don't think there would be much of a rise if at all in house buying.
Now think about interest rates going up, more people unable to pay for mortgages more repo's.
Something really has got to give in the housing market, the median for full time wages in the UK is £25,123. The recommended borrowings for a mortgage are 2 - 2 1/2 times your wage, (62k). Now where on earth are you going to buy a flat/house in the UK with that kind of money? It's no wonder that we are being called the rent generation!