{"id":4037,"date":"2011-11-11T12:33:27","date_gmt":"2011-11-11T12:33:27","guid":{"rendered":"http:\/\/www.livingwithkids.co.uk\/?p=4037"},"modified":"2017-06-22T14:41:33","modified_gmt":"2017-06-22T13:41:33","slug":"first-time-buyers-left-out-in-the-cold","status":"publish","type":"post","link":"https:\/\/www.kidstart.co.uk\/blog\/first-time-buyers-left-out-in-the-cold\/","title":{"rendered":"First time buyers left out in the cold."},"content":{"rendered":"Can you remember the 80s when Yuppies used to buy flats the way most people bought shoes?\r\n\r\nAnd even up until a couple of years ago people used to joke that their houses were making more in a month than they did by going to work.\u00a0 Not any more.\u00a0 So few people can afford to buy now, that there are apparently five people queuing up to rent every available flat in London.\r\n\r\nNow the <a title=\"CBI report on housing\" href=\"http:\/\/p:\/\/www.cbi.org.uk\/media-centre\/press-releases\/2011\/11\/housing-market-faces-twin-challenge-\u2013-short-and-long-term-solutions-needed\" target=\"_blank\" rel=\"noopener noreferrer\">CBI<\/a> has said enough is enough.\u00a0 Its report, published today, called on the government to give a boost to the housing market by allowing younger people access to low deposit mortgages and others to dip into their pension to bump up their deposit.\r\n\r\nIt\u2019s a canny idea, a bit like an offset mortgage which allows you to use your savings to whittle down your mortgage debt but still have access to them in an emergency.\r\n\r\nWho knows whether these ideas will work or whether the Government will take them, but something needs to be done.\r\n\r\nProperty may be getting cheaper for the first time in decades but still nothing is moving.\u00a0 In theory, a drop in price should make it easier for first time buyers and those wanting to trade up to get back on the housing ladder. But in reality, it\u2019s just making those who are lucky enough to own their own home hang onto it for fear of being fleeced or, more likely, plunging into negative equity.\r\n\r\nIt reminds me of that morality tale about the sun and the wind having a bet on who would be able to relieve a man of his coat first. The wind blew and blew and was sure his gusts would peel the coat from the man\u2019s back but with every puff the man just clung to his coat tighter.\r\n\r\nThen it was the sun\u2019s turn \u2013 he just turned his warm beams on the man until he got so warm he flung his coat off himself and basked in the sunshine.\r\n\r\nSo perhaps a freeing up of planning permission and an easing up of the mortgage system might be the sunshine we need to warm up the housing market.\r\n\r\nI do hope so, but I fear they will have to do more than that if people like my friend the ever resourceful Vix is ever to get her own place. She\u2019d love to put her pension into a deposit \u2013 if she had one \u2013 but while she\u2019s still selling her soul at the Spitalfields workhouse her pension belongs to Barclaycard&#8230;.\r\n\r\nWhat do you think? Would a smaller deposit or being able to dip into your pension make buying more of a possibility for you? Or are you stuck with a home you can\u2019t sell because you\u2019ll end up worse off? Drop me a comment and let me know.\r\n\r\n&nbsp;","protected":false},"excerpt":{"rendered":"Can you remember the 80s when Yuppies used to buy flats the way most people bought shoes? And even up until a couple of years ago people used to joke that their houses were making more in a month than they did by going to work.\u00a0 Not any more.\u00a0 So few people can afford to","protected":false},"author":2,"featured_media":14488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3508,3349],"tags":[2436,2437,2438,794],"class_list":["post-4037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-household-savings","category-household-savings-advice","tag-cbi","tag-first-time-buyers","tag-housing-ladder","tag-mortgage"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>First time buyers left out in the cold. - KidStart Magazine<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.kidstart.co.uk\/blog\/first-time-buyers-left-out-in-the-cold\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_GB\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"First time buyers left out in the cold. - KidStart Magazine\" \/>\r\n<meta property=\"og:description\" content=\"Can you remember the 80s when Yuppies used to buy flats the way most people bought shoes? 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