4 ms·
It amuses me this recent panic in the US. The UK has had this housing problem for over 20 years. Reality in the UK is that if you can find the downpayment on a
by iso1631 4y ago
It amuses me this recent panic in the US. The UK has had this housing problem for over 20 years.
Reality in the UK is that if you can find the downpayment on a mortgage, the monthly outgoings in that mortgage (both the interest and the capital) are less than the rent. Sure you might have to replace a roof every 50-100 years (I had a quote in 2021 for my 60 year old roof for 4% of the value of the house), or a new heating system every 30 years (just replaced mine from the 80s, 3% of the cost of the house), but on the whole the vast majority of the cost is in that mortgage payment