Citywire: I want to give my children their house deposits - here's my plan

Graham_Devon

nollag2006 wrote: »

This has to be one of my favourite posts from marklv:
http://forums.moneysavingexpert.com/showpost.html?p=36891904&postcount=3

Particularly the remarks about the working class being scum.

Why do we tolerate racist twits like this on this forum? Is there not a website called whitesupremecistexpert.com or some such where this sort of nonsense can be discussed?

Well it would help if it wasn't linked up to again to bring it to life.

nollag2006

Graham_Devon wrote: »

Well it would help if it wasn't linked up to again to bring it to life.

All it takes for evil to prosper is for good men to do nothing. Edmund Burke

I'd rather stand up to a racist than ignore them, and let them go unchallenged

nollag2006

Doctor_Gloom wrote: »

Yeah maybe we can ban him like your old mate StiflersMum. How's he keeping by the way? Give him all our regards next time you see him.

What are you smoking?? Your posts are getting more and more deluded.

I agree though that he should be banned. Racism has no place here.

dopester

silvercar wrote: »

Amazed that you dug that out, it certainly isn't recent. Do you constantly search through to find old posts of mine?

Didn't have to search. I had that thread bookmarked into a folder. Wanted to respond to a few of the wide-ranging points you were making at the time, but never got around to it.

silvercar wrote: »

A lot of people think that these evils property investors will have got their fingers burnt on BTL and will now stand aside once the housing bubble has really burst, to allow all the FTBs to get on the housing ladder. The truth is that the canny investor is probably sitting with cash ready to buy as soon as they feel the bottom is reached. With the current mortgage shortage, it is the FTB that will find it hard to compete.

Maybe so. That implies investors, including Mum & Dad money, being willing to wait for values to fall significantly before using their money to buy or "invest".

silvercar wrote: »

Big difference between parents MEWing and parents that are setting aside money to do this.

As someone who has set aside savings to buy, and not just getting such savings underway, those who've MEWed are important to me, in deciding what I think the outlook for house prices is.

Why use savings now if you believe a large proportion of home-owners are over-stretched and in a changing, very challenging economic situation. Challenging also for many of the children who were given a boost of money from Mum and Dad, some of whom may now wish they were in rented, or back home living with Mum and Dad - if they're not already on SMI or other schemes, along with some of their MEWing over-extended parents.

silvercar

dopester wrote: »

Maybe so. That implies investors, including Mum & Dad money, being willing to wait for values to fall significantly before using their money to buy or "invest".

As someone who has set aside savings to buy, and not just getting such savings underway, those who've MEWed are important to me, in deciding what I think the outlook for house prices is.

Why use savings now if you believe a large proportion of home-owners are over-stretched and in a changing, very challenging economic situation. Challenging also for many of the children who were given a boost of money from Mum and Dad, some of whom may now wish they were in rented, or back home living with Mum and Dad - if they're not already on SMI or other schemes, along with some of their MEWing over-extended parents.

So you are saying timing is important for everyone, FTBs, movers, Mum&Dad's, BTL investors...the lot.

I agree. The corollary is that FTBs will always have other types of buyers competing against them.

LilacPixie

I must be a really bad/short sighted parent. It has never even crossed my mind to put some sort of savings plan in place for the mini pixies.

My plan was/is, buy a forever home, clear mortgage as soon as humanly possible while still contributing to pensions etc, teach my kids the benefits of savings and why it is a good idea to save and not buy new things just because you have the money. They will be more than welcome to stay with us for however long but if they want to buy then deposit will have to be saved like I did. My parents had a rule they provided the home, food and the basics of clothes/shoes, they also paid for driving lessons and a car when passed (up to the value of £500, in 1998). If I wanted more I had to work and it was bills paid first then 50% savings 50% spends of the remaining.

I had a 10% deposit saved and bought when 22.