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Average First time buyer deposit 29k!! watch

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    Where on earth are we going to find that!?! :P

    source: http://news.bbc.co.uk/1/hi/business/8454455.stm
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    by working
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    Well you're being stupid now, once you graduate (assuming you go uni) you'll comfortably earn that much within 3 years after working in your degree related work...
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    (Original post by Romeo786)
    Well you're being stupid now, once you graduate (assuming you go uni) you'll comfortably earn that much within 3 years after working in your degree related work...
    And how much of those earnings do you realistically expect you'll be able to save? Not 29k that's for sure.
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    This is not new. Such conditions were the norm throughout the seventies.
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    This used to be the norm. The larger your deposit, the better the mortgage deal you can get usually is. I don't necessarily think that it's a bad thing.
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    I wouldn't say that this is new, nor shocking, but certainly means that it will be many, many years before my boyfriend and I will be purchasing property. :p:
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    The housing prospects for this generation are terrible imo, my parents paid 58k for their first house which was a 3 bed detatched house and they got 120% mortgate at the age of 20. 15 years later and you need half of that just for a deposit so not fair
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    Its not new but scares me half to death when im engaged and want to be married in about 3/4 years, and have kids in 5/6 years. The bit about being 37 to own your first home with no parental backing scares me the most. supose you either have a wedding/children or you buy a house...
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    (Original post by Romeo786)
    Well you're being stupid now, once you graduate (assuming you go uni) you'll comfortably earn that much within 3 years after working in your degree related work...
    My mum could aford to own a house when she wasin Uni so you're saying that we have to wait 6/7/8 years longer than they had to? And then you're saying the OP is being stupid?
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    (Original post by Jeester)
    My mum could aford to own a house when she wasin Uni so you're saying that we have to wait 6/7/8 years longer than they had to? And then you're saying the OP is being stupid?
    yes they are because you are being selective and choosing a brief period when money was freely available (and see where it has got us). Historically you had to be saving with a building society for several years before they would even consider you for a mortgage and also the most they would lend was 80% of the price. This certainly applied throughout the 70s and early 80s.
 
 
 
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