Today, Two 20yr olds doing those types of jobs would struggle to pay the rent (if they could find anything) much less save the 20k deposit for a house.
Exactly... the new semi we bought in 1977, 122 Lynwood Drive, Merley, in Dorset cost us £12,450. The mortgage was affordable.
The exact same house last sold in October 2017 for £320,000 and is now "worth" £403,000, according to "TheMarket.com"
Based on consumer price inflation it is worth about £100,000.
A young couple today doing the jobs Caroline and I were doing then wouldn't have a hope of affording it now. Hell, I'm not sure we could afford it now.
UK House prices are a rigged market, if houses were built at a rate sufficient to make new houses affordable the resultant price crash would result in millions with negative equity and a banking crash as millions defaulted on their mortgages, so the Politicians dare not let it happen.
