The Reality Business

From the worst rated comments to an article in The Daily Mail:

Face reality, I know it's a long time ago, but the principles remain, in the 60's we lived with our parents and after each doing three jobs for three years (main job + delivery work & cleaning factory canteens), in 1971 we had saved enough for the deposit and main furniture (total £750) (1) for our 1st house (new 2 bed semi, but 50 miles away) - you cannot expect to get a house until you are about 30'ish, you have to get some experience under your belt to earn the wages needed.

By 2020 the wage level is £20k they say - OK, thats £40k pa for 2, save £25k pa (2) plus get part time work in evenings and w/ends, holidays at home, you'll probably have £100k, or close in three years,(3) with pay increases and odd extra jobs, you're on the ladder and away, its the old story, if you want something you've got to plan & work for it. Polly ticians [sic] never were in the reality business! (4)

Jay, Swindon

1) OK, there are different ways of indexing up the value of £750 in 1971, but the value of consumption foregone is £8,670, according to Measuring Worth.

There's a huge difference between doing without £8,670's worth of goods and services to save up a deposit and doing without £60,000's worth, which is what the article says first time buyers will need as a deposit.

2) The post tax-income of somebody earning £20,000 a year is £16,132, so what Jay is saying is that a couple doing full-time jobs can live off £7,000 a year.

3) Or possibly four years.

4) Neither is Jay, Swindon, by the looks of it.