Is Golf now too expensive???

clubchamp98

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Yet can they afford to live in said houses or are they renting?

Always a very poor arguement for me from those who look down on this generation about the cars and phones , holidays etc when renting. But the bank's don't deem people being able to afford a house even though can afford a mortgage . Yes people can go without for say 5 years to scrimp to save a deposit to buy a house ... But for some what kind of life is that?? To scrimp to pay the man to own a house that when you die is when you see the benefit from.. the system is broken and prices are out of control. Its nothing to do with the fact they have phones holidays and cars that the price is out of control .. people are free to enjoy their money how they see fit
They have bought houses that need a lot of refurbishment as that’s all they can afford.
The car and Phone thing is like golf clubs you can do it cheaply but when did you see a young person without the latest phone imo never .
Not looking down on anybody just pointing out we didn’t have these expensive items.
As I said things have changed a lot
when I got a house everything was second hand from family members .
nothing on credit and a bicycle to work.
sounds like a Hovis ad :eek::eek: but that was only late 70s.
 
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pauljames87

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Not looking down on anybody just pointing out we didn’t have these expensive items.
As I said things have changed a lot
when I got a house everything was second hand from family members .
nothing on credit and a bicycle to work.
sounds like a Hovis ad :eek::eek: but that was only late 70s.
Like you said things have changed. A good friend of mine after a levels (she lived up north) found a good job for the area. Walked to work every day. Then they moved the place and she wasn't going to be able to get there. Taxi each day would cost too much , bus was 1 each way a day and wouldn't get here there in time she had to get a car so I bought her a cheap banger to get to work.

Still x amount of years later is stuck renting can't afford a house.. even with that help

The world is out of control
 

clubchamp98

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Like you said things have changed. A good friend of mine after a levels (she lived up north) found a good job for the area. Walked to work every day. Then they moved the place and she wasn't going to be able to get there. Taxi each day would cost too much , bus was 1 each way a day and wouldn't get here there in time she had to get a car so I bought her a cheap banger to get to work.

Still x amount of years later is stuck renting can't afford a house.. even with that help

The world is out of control
Yep can’t argue with that.
most youngsters need the bank of mum and dad to stand any chance of getting on the ladder.
 

pauljames87

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Yep can’t argue with that.
most youngsters need the bank of mum and dad to stand any chance of getting on the ladder.
Problem is what do the next generation do? Ie My children?

My parents helped me , I repaid them once on the ladder, however when my 3 are say 25 I 100% will not have that sort of money kicking about to invest in houses for them..

The "golden" generation as it were who got the benefit of the cheap houses and good prices now could support my generation but as our prices are high and staying high but no where near the same jump how on earth do we pass it on

Something has got to give
 

Voyager EMH

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Problem is what do the next generation do? Ie My children?

My parents helped me , I repaid them once on the ladder, however when my 3 are say 25 I 100% will not have that sort of money kicking about to invest in houses for them..

The "golden" generation as it were who got the benefit of the cheap houses and good prices now could support my generation but as our prices are high and staying high but no where near the same jump how on earth do we pass it on

Something has got to give
I am sure it will be a sort of struggle for you when the kids become adults.
We've been looking at numbers from years ago and comparing them. But that makes things look better years ago when it really wasn't so.
I left university in the early 1980s when unemployment was at a record high. Wages stagnated in those years in many sectors. Employers had many of us over a barrel. If you left they could easily replace you. So just like now, many of us faced declining standard of living with no wage rises year on year while trying to save for a house purchase deposit.
We finally got there in 1987, after not playing golf for 6 years, with a £1,000 deposit. Couple of years later, mortgage rates rocketed and many like us faced repossession. We just got through that unscathed. So the £34,500 house price might look rosy, but times were not so financially rosy at the time at all. Just like mentioned above, it was second hand furniture etc for some years. It was a struggle.
 

pauljames87

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I am sure it will be a sort of struggle for you when the kids become adults.
We've been looking at numbers from years ago and comparing them. But that makes things look better years ago when it really wasn't so.
I left university in the early 1980s when unemployment was at a record high. Wages stagnated in those years in many sectors. Employers had many of us over a barrel. If you left they could easily replace you. So just like now, many of us faced declining standard of living with no wage rises year on year while trying to save for a house purchase deposit.
We finally got there in 1987, after not playing golf for 6 years, with a £1,000 deposit. Couple of years later, mortgage rates rocketed and many like us faced repossession. We just got through that unscathed. So the £34,500 house price might look rosy, but times were not so financially rosy at the time at all. Just like mentioned above, it was second hand furniture etc for some years. It was a struggle.
Yet prices of yesteryear were at least achievable with a bit of graft and hard work

For example my house is a simple 4 bed semi, nothing major. With a 50,000 deposit (10% of low end value) it would still need a mortgage 15 times the average salary

Average salary in 1982 was what £8,000? So 4-5 times the salary . Appreciate it's still very high and was hard to get but today's money is just ridiculous.. wages haven't risen to match in the slightest
 

D-S

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I totally agree that housing in the UK is a shambles with many having to spend the majority of lifetime earnings paying for an asset they will never realise.
However, eventually the market will out. All those who bought in the 70‘s will over the next 10 or 15 years be vacating their ‘unaffordable‘ homes as they downsize, move into homes or die. Many of the proceeds will be used to fund retirement, care, be given back to the bank if equity release is involved or be split amongst offspring. All this housing stock will have to be bought by someone and if it is unaffordable the price will reduce until it is affordable. They will not lie empty, all the houses will be occupied somehow.
 

Voyager EMH

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I totally agree that housing in the UK is a shambles with many having to spend the majority of lifetime earnings paying for an asset they will never realise.
However, eventually the market will out. All those who bought in the 70‘s will over the next 10 or 15 years be vacating their ‘unaffordable‘ homes as they downsize, move into homes or die. Many of the proceeds will be used to fund retirement, care, be given back to the bank if equity release is involved or be split amongst offspring. All this housing stock will have to be bought by someone and if it is unaffordable the price will reduce until it is affordable. They will not lie empty, all the houses will be occupied somehow.
Ah, I see.
But when did you buy the TARDIS and how much did it cost? ;)
 
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Never mind the problems of home owners and prospective home owners, the BIG crisis is just around the corner when all those currently working who rent hit retirement with only the state pension as income - £720/month doesn’t give much left after rent and council tax, never mind energy costs. Even two each having the full state pension as only income are going to find things a challenge.

And I doubt many of that group will be worrying too much about golf becoming too expensive…when putting food on the table could be a daily concern.
 

Voyager EMH

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Zero to do with golf…….honestly it’s an extremely tenuous link..


Mods???
I do get your point.
I just can't see a problem.
The question is whether golf is now too expensive. So we are comparing living costs of now with how things were some time ago.
Living costs have a direct impact with whether golf is affordable to the same type of people now as before. Not so tenuous a link.
 
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Backache

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Our club has a list of permitted cars allowed in the carpark.
Unless it's vintage you are not permitted to park in a car more than three years old.
Land Rover, Mercedes Porsche and Bentley are amongst the permitted marques.
 

Voyager EMH

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Our club has a list of permitted cars allowed in the carpark.
Unless it's vintage you are not permitted to park in a car more than three years old.
Land Rover, Mercedes Porsche and Bentley are amongst the permitted marques.
How have they defined vintage? Would our 18 year old Citroen qualify?
 

KenL

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Without trying to sound old, when we bought our first house in 1978, everything was second hand including fridge, cooker and washing machine. Our TV was a 14" black and white and we didn't have a stereo system. Anything we bought was paid in cash and we had nothing on credit.
Even the house?
 
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Yet prices of yesteryear were at least achievable with a bit of graft and hard work

For example my house is a simple 4 bed semi, nothing major. With a 50,000 deposit (10% of low end value) it would still need a mortgage 15 times the average salary

Average salary in 1982 was what £8,000? So 4-5 times the salary . Appreciate it's still very high and was hard to get but today's money is just ridiculous.. wages haven't risen to match in the slightest
This is my biggest issue. I was always fed the "work hard" line and things will come. It just isn't the case to have anywhere near the same level of lifestyle as my parents whilst trying to purchase a property. Wages have stayed stagnant for 18 years and like the graph posted earlier the interest rates adjusted for affordability show that right now is the most expensive time to buy in history. Honestly think it's going to crash in the next couple of years but then shoot back up again as it'll just be supply vs demand. But when it drops, you'll be sure that the banks will be waiting to buy up the stock to rent out.
 
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