No wonder millennials can't afford a mortgage

coffee_cake · 18-09-2018 11:11am

A tenner on lunch every day is a lot... I cook batches on Sunday and bring those in. They're probably nicer half the time and at least i know what's in them

I don't think that explains lack of mortgages though

Cuddlesworth · 18-09-2018 11:12am

Doctors room ghost wrote: »

My heart goes out to young people working jobs and finding it difficult to get by.meanwhile the politicians and pond rats thrive on either end of the scale.
And if the thread is aimed at sticking the boot into hard working Irish people struggling to get by why not try using euro symbols instead of the dollar symbols op.this is Ireland after all not the old usa €€€

Oddly enough, currently a basic TD's wage wouldn't be able to afford a mortgage on a single income in a large part of Dublin.

draiochtanois · 18-09-2018 11:13am

This post has been deleted.

TitianGerm · 18-09-2018 11:19am

StupidLikeAFox wrote: »

Assuming you buy that breakfast 3 times a week, and it costs you €30 a pop, that is a total of €3,120 per year that they are wasting.

Take an average house cost of around €250k. That means if they give up this avocado lifestyle they will be able to afford the deposit for the mortgage in around 8 years.

€30 a week by 52 weeks is €1560.

Not sure where you're pulling €3120 out of

bloodless_coup · 18-09-2018 11:19am

troyzer wrote: »

If you're 33 and own a house with no debt you either inherited it, are a drug dealer or have a particularly well paying job. Which is probably really rare and thus pointless to use as an example for the rest of us.

Excuse me, I'm 32

Cee-Jay-Cee · 18-09-2018 11:22am

joe stodge wrote: »

There's probably about €2 worth of food there at most.

it's gas that there's pricks out there willing to pay that money for trash like that.

Half an avocado, one miserly slice of bread, a bit of cheese and a slice of lime..€1 max.

troyzer · 18-09-2018 11:23am

draiochtanois wrote: »

This post has been deleted.

I'm not spending €450 a month on food. You're taking the upper estimate of my range and applying it seven days a week. I don't eat lunch out every day.

There are some weeks where I make a batch of soup in advance, a couple of euro on a bag of spuds and then just fill in the rest of my meals with fish and other non-meat foods.

€10-€15 is an estimate for those days I DO eat out which is maybe two days a week. I probably should have made that clear, I thought we were talking about it in the context of eating out. I rarely eat dinner out and where I make my own lunches I'm probably sitting at around €5 a day. When you include the odd time I go out for lunch or even for dinner you could probably boost it to around €200-250 a month. Which isn't a huge amount of money and I would imagine would comfortably put me on the frugal end of the scale. I don't drink much either.

I already save 40% of my salary for my long term savings and probably another 20% on stuff I know I need to pay for soon like my car service and my holiday next year.

I'm still nowhere near getting a mortgage. Both me and my partner would need double the salary to be getting a house anywhere near where we live currently. And I know people would say you have to be prepared to move further out. But I'm already commuting two hours a day, I don't see the point of being saddled with a mortgage in a shoebox just to make it three or four hours a day.

Thatnastyboy · 18-09-2018 11:29am

Why are ye even talking about mortgages?

Take back the city et al are going to give free houses to everyone, why pay for one when you can get one for free

I've put my planning application on hold until TBTC comes back to me with confirmation that they will cover the construction cost :cool:

LirW · 18-09-2018 11:29am

Everything follows a different time line now. Young people work hard and face ever-increasing prices, spend their 20s to get on a reasonable pay, couple up later, if ever buy property later and have stability quite late in their life to start a family if they wish to.
I understand why having children is getting less important to people. They spend their lives in demanding jobs yet can't live a lavish life on their income and prefer to keep what they have left for themselves. Can't blame anyone for that.
The millennials get a massive battering. Pressure to get a prestigious education, pressure to stand on their own feet, paying high taxes, paying high living costs, paying ridiculous childcare fees. If money is needed, their pockets are longed into first.

18-09-2018 11:34am

why is anyone bothering with a thread outraged about a breakfast that costs americans too much?

wexie · 18-09-2018 11:34am

Cee-Jay-Cee wrote: »

Half an avocado,

Nahuh!!!

A 'deconstructed' avocado

(who comes up with this ****, are there people dumb enough out there to try eating an avocado whole?)

BuboBubo · 18-09-2018 11:35am

Hector Bellend wrote: »

I'm 41. I'm on my third college degree, have a good job and still have great difficulty getting a mortgage.

Ah! a fellow Generation X'er, Senòr Bellend.

I'm in my mid 40s, have no degree, a regular/non-professional job, and a mortgage. Got it in the height of the boom (04), wouldn't have a hope of getting one nowadays though.

I'd probably be laughed outta the bank nowadays, yet the bank was flinging money at us, even offering us top-ups to change our cars :O

We only borrowed enough for the house though.

Grayson · 18-09-2018 11:37am

Deebles McBeebles wrote: »

Never had one of those, not a millennial, still can't afford a mortgage.

I get free avocado's in work. I still can't afford a mortgage.

I also don't like avocado and I'm not a millennial either.

I have a feeling that it's the ridiculously high rents and property prices that are stopping us from getting mortgages. Guess it must be the avocado's

Or the OP is just trolling.

18-09-2018 11:38am

though i must say, i suspect outrage against "millenials who cant afford mortgages" smells more to me like fear that "the next generation arent going to sign up to this pyramid scheme what am i gonna do with this €500k two-bed in Artane"

im in my late 30s, renting a box for €1200, yes that part sucks but its a nice box, it wont be this way forever and i can still afford to eat out whenever i like. god bless ireland

_Brian · 18-09-2018 11:40am

Mr. Incognito wrote: »

I eat out for lunch every day. I generally go to a pub and get a proper meal for that. Sambos are quite the rip off these days at €6 a pop.

Skip breakfast

I'd say a tenner a day by four weeks. €200 a month for lunch or so every month.

I couldn’t justify spending that on lunch.
Few minutes packs a lunch bag for a fraction of that. I bring lunch 4 days a week for less than €10

JupiterKid · 18-09-2018 11:41am

This is a bit of a troll thread.

The cold hard fact is that housing costs, especially renting, are astronomically high in Dublin in comparison to the average salaries most "millenials" earn. This is the crux of the problem, not irresponsible spending by the millenials.

Plenty of people from my generation, so called "generation X" spent and borrowed recklessly during the celtic tiger bubble years, and the banks encouraged them to do so. So for anyone of my generation giving out about millenials and their spending patterns are being a bit hypocritical.

Feisar · 18-09-2018 11:43am

Christ on a BMX, I'm a millennial!

Born in 84'

Grayson · 18-09-2018 11:43am

Deleted User wrote: »

though i must say, i suspect outrage against "millenials who cant afford mortgages" smells more to me like fear that "the next generation arent going to sign up to this pyramid scheme what am i gonna do with this €500k two-bed in Artane"

im in my late 30s, renting a box for €1200, yes that part sucks but its a nice box, it wont be this way forever and i can still afford to eat out whenever i like. god bless ireland

I don't mind renting but I am worried about what happens when I get older. I don't want to be a pensioner at the mercy of the Irish rental market.

Deebles McBeebles · 18-09-2018 11:44am

Deleted User wrote: »

im in my late 30s, renting a box for €1200, yes that part sucks but its a nice box, it wont be this way forever and i can still afford to eat out whenever i like. god bless ireland

That's a big thing, the quality of your box (tee hee hee). Last house I rented was reasonably cheap but was a sh1thole. Soon as the landlord went about putting the rent up I went out looking for a new place. Now I'm paying what my rent would have increased to but in a nice house with everything I wanted, big garden etc.

Still makes me feel like vomiting every month when the rent goes out though.

18-09-2018 11:45am

JupiterKid wrote: »

This is a bit of a troll thread.

The cold hard fact is that housing costs, especially renting, are astronomically high in Dublin in comparison to the average salaries most "millenials" earn. This is the crux of the problem, not irresponsible spending by the millenials.

Plenty of people from my generation, so called "generation X" spent and borrowed recklessly during the celtic tiger bubble years, and the banks encouraged them to do so. So for anyone of my generation giving out about millenials and their spending are being a bit hypocritical.

have to be honest, most people i saw turning into property investment geniuses in the 90s and 00's were well into their forties and fifties

thats not gen X (by the way we're irish we didnt really have a gen X)

_Brian · 18-09-2018 11:45am

Grayson wrote: »

I don't mind renting but I am worried about what happens when I get older. I don't want to be a pensioner at the mercy of the Irish rental market.

That’s a great point.
The state are unable to provide accommodation and a private landlord won’t want someone with only a pension.

18-09-2018 11:46am

Grayson wrote: »

I don't mind renting but I am worried about what happens when I get older. I don't want to be a pensioner at the mercy of the Irish rental market.

there are other counties and other countries

Deebles McBeebles · 18-09-2018 11:47am

Feisar wrote: »

Christ on a BMX, I'm a millennial!

Born in 84'

Ill be corrected if I'm wrong but I think millenials start in '85. You're a Gen X, like all the coolest people.

18-09-2018 11:48am

_Brian wrote: »

That’s a great point.
The state are unable to provide accommodation and a private landlord won’t want someone with only a pension.

most pensioners qualify for rental schemes if they have no other income.

ever see a homeless OAP?

c6ysaphjvqw41k · 18-09-2018 11:49am

This post has been deleted.

Fr_Dougal · 18-09-2018 11:50am

BuboBubo wrote: »

Ah! a fellow Generation X'er, Senellend.

I'm in my mid 40s, have no degree, a regular/non-professional job, and a mortgage. Got it in the height of the boom (04), wouldn't have a hope of getting one nowadays though.

I'd probably be laughed outta the bank nowadays, yet the bank was flinging money at us, even offering us top-ups to change our cars :O

We only borrowed enough for the house though.

‘04 wasn’t the height of the boom.

On a separate note, I’ll leave this here: https://www.herald.ie/lifestyle/water-selling-for-45-a-bottle-in-dublin-27883074.html

MetzgerMeister · 18-09-2018 11:50am

From this thread I've just learned that I'm a millenial as I was born in 1985. Quite some time ago someone my age belonged to Gen X.

I'm 32 and had no issue getting a mortgage as a first time buyer. Had the deposit saved, didn't inherit a thing.

As regards lunch, it costs me very little. I go home every day and have toast with honey or brown bread and tuna. No point in having a big lunch when you're making dinner in the evening and you're not even hungry.

EdgeCase · 18-09-2018 11:51am

JupiterKid wrote: »

This is a bit of a troll thread.

The cold hard fact is that housing costs, especially renting, are astronomically high in Dublin in comparison to the average salaries most "millenials" earn. This is the crux of the problem, not irresponsible spending by the millenials.

Plenty of people from my generation, so called "generation X" spent and borrowed recklessly during the celtic tiger bubble years, and the banks encouraged them to do so. So for anyone of my generation giving out about millenials and their spending patterns are being a bit hypocritical.

It's also not entirely generation X. There are some Xers caught in this too and also some older generations who've helped out younger generations or, who've had their pensions wiped out. I know a few older couples who've had pension funds basically erased back in 2008, particularly where they were largely bank shares.

But, it is predominantly an intergenerational difference and it's also a big problem as FG and FF still seem to think their vote is entirely that grouping that are already on the laddder.

wexie · 18-09-2018 11:52am

Fr_Dougal wrote: »

On a separate note, I’ll leave this here: https://www.herald.ie/lifestyle/water-selling-for-45-a-bottle-in-dublin-27883074.html

“We’ve had a fairly positive reaction. We’ve sold six bottles so far,” he told Herald.ie. “Most people buy it for the fun content.”

The 'fun' content?

Vegeta · 18-09-2018 11:52am

_Brian wrote: »

I couldn’t justify spending that on lunch.
Few minutes packs a lunch bag for a fraction of that. I bring lunch 4 days a week for less than €10

As someone who wastes too much money on food, what do you bring in your packed lunches? Genuinely looking for ideas.

No wonder millennials can't afford a mortgage

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