An entire generation locked out of property ownership

geneer

In otherwords less competition for first time buyers.

Can't see the downside.

PasturesNew

IveSeenTheLight wrote: »

PN constantly reminds us that she can't get a job and that there is nothing in her area.

That's not entirely true, just your interpretation of my postings. Often I am posting generically, not "for me/of me". I can't get a job because ... I don't even look for one/don't apply really.

HAMISH_MCTAVISH

geneer wrote: »

In otherwords less competition for first time buyers.

I see.

So the solution is to just prevent most potential first time buyers from getting mortgages, so the few remaining have less competition.

Can't see the downside.

No, I didn't think you would.

regprentice

IveSeenTheLight wrote: »

Who mentioned Aberdeen

I'm from Aberdeen, and while there may be jobs, property prices are ridiculous. My parents live fairly centrally in a 3 bed house . Nothing special, flat roof box built after the war. Neighbours houses selling for around 320k.

I left home and bought a smaller 3 bed near Edinburgh. Current mkt val £120k. I have to commute 16 miles to work on bus but beats having a mortgage that could run a small country.

Aberdeen tends to have it's own 'bubble' because of the oil industry there. Uk recessions don't hit them hard , but if shell close an oil field it can hit everyone.

Running_Horse

I've moved cross country a couple of times for better employment opportunities. The declining population of places like Liverpool suggests that is not a particularly radical or unusual thing to do. It would be great to live in an idyllic village miles from anywhere, but it just makes sense to be near major towns and industrial estates.

Running_Horse

ninky wrote: »

i blame the parents. (and the grand parents and the great great grandparents). there's no reason for people to be starting from zero in this day and age.

You mean like we had to? I will give my child every possible educational support and moral guidance, but cannot guarantee to be funding deposits and every college expense.

ninky_2

Running_Horse wrote: »

You mean like we had to? I will give my child every possible educational support and moral guidance, but cannot guarantee to be funding deposits and every college expense.

that's fine. just don't expect your offspring to become the rothschilds. for dynastic success you need dynastic thinking and action. that works on smaller scale too.

if you want your children to have to work for stuff like you had to in order to merely obtain the same financial level you have (unlikely given the markets have now made that even tougher), then fine. all i'm saying is those with more ambition for their family line might do well to plan for intergenerational progress.

personally i don't have children. however i see nothing wrong with leaving my estate (or what is left of it) to my niece and nephew or helping them out financially in the here and now if i can.

moral guidance? wrap that up and put it under the christmas tree.

Poshbird

ninky wrote: »

that's fine. just don't expect your offspring to become the rothschilds. for dynastic success you need dynastic thinking and action. that works on smaller scale too.

if you want your children to have to work for stuff like you had to in order to merely obtain the same financial level you have (unlikely given the markets have now made that even tougher), then fine. all i'm saying is those with more ambition for their family line might do well to plan for intergenerational progress.

personally i don't have children. however i see nothing wrong with leaving my estate (or what is left of it) to my niece and nephew or helping them out financially in the here and now if i can.

moral guidance? wrap that up and put it under the christmas tree.

Nicky have you listened to Dr Busby on the Japan crisis thread?

Graham_Devon

ninky wrote: »

that's fine. just don't expect your offspring to become the rothschilds. for dynastic success you need dynastic thinking and action. that works on smaller scale too.

if you want your children to have to work for stuff like you had to in order to merely obtain the same financial level you have (unlikely given the markets have now made that even tougher), then fine. all i'm saying is those with more ambition for their family line might do well to plan for intergenerational progress.

personally i don't have children. however i see nothing wrong with leaving my estate (or what is left of it) to my niece and nephew or helping them out financially in the here and now if i can.

moral guidance? wrap that up and put it under the christmas tree.

If you are already struggling with high prices (relating to the OP). How are you supposed to set your children up to cope with them?

It's nice to be able to do so, but if your struggling with living costs as it is, you are going to struggle to give a head start when it comes to living costs to your children.

ninky_2

Poshbird wrote: »

Nicky have you listened to Dr Busby on the Japan crisis thread?

it's hard enough to get a sentence out on this pendolino wifi service.