An entire generation locked out of property ownership

ninky_2

Graham_Devon wrote: »

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.

if you are struggling with living costs then maybe you shouldn't have had children.

just a thought.

Graham_Devon

ninky wrote: »

if you are struggling with living costs then maybe you shouldn't have had children.

just a thought.

LOL.

Indeed I would agree. But anything can happen AFTER having children.

ninky_2

Graham_Devon wrote: »

LOL.

Indeed I would agree. But anything can happen AFTER having children.

it can. but it seems quite unlikely that huge numbers of people would lose a fortune just after having had children. you might face a temporary blip such as loss of job or end of relationship but not a fundamental shift in your financial base.

Percy1983

My parents haven't stuggled but there is no surplus for me to have, there will probably be something left when they die but I don't have time to wait (I don't mean I want them dead) and I don't think its going to be a massive amount.

Funny talking to a girl I work with, she found it hard to believe I got a watch for my 21st as she got a deposit for a house and a small car.

Graham_Devon

ninky wrote: »

it can. but it seems quite unlikely that huge numbers of people would lose a fortune just after having had children. you might face a temporary blip such as loss of job or end of relationship but not a fundamental shift in your financial base.

Hmmm, I believe we may be talking about two different scenarios here.

You are talking about setting your children up. To me, that suggests having enough money to get them through possible uni and a house deposit.

That's a fair chunk of money. By todays standards, at least £1,500 a year per child.

While living. Remember the people having children now, will be the people struggling with high prices.

It just doesn't tally with the average families affordability. As I say, nice if you can do it. But most won't be able to.

ninky_2

Graham_Devon wrote: »

Hmmm, I believe we may be talking about two different scenarios here.

You are talking about setting your children up. To me, that suggests having enough money to get them through possible uni and a house deposit.

That's a fair chunk of money. By todays standards, at least £1,500 a year per child.

While living. Remember the people having children now, will be the people struggling with high prices.

It just doesn't tally with the average families affordability. As I say, nice if you can do it. But most won't be able to.

but a lot of families drive fancy cars, go on more than one expensive holiday, buy new furniture (what was wrong with granny's?).

i'm not just going back one generation in my thinking i'm going back a couple. my grandfather sired eleven children - costing a small fortune and keeping them in relative poverty. if he'd just had a couple the extra money could have been used to accrue equity and invest.

having children later also leaves a bigger gap between generations (therefore less time to wait for inheritence).

i know this all sounds rather cold and calculating but if people want to escape the poverty trap it's stuff they have to consider. we are society and we can change our future and improve things for future generations. the resources are there.

Graham_Devon

Well personally speaking, I'd have to disagree. I'd rather have my parents around for longer, and get by without an inheritance.

Not sure theres much left to say.

ninky_2

Graham_Devon wrote: »

Well personally speaking, I'd have to disagree. I'd rather have my parents around for longer, and get by without an inheritance.

Not sure theres much left to say.

yes yes quite right. me too. but what you should want for your kids as a parent and what you should want for your parents as their child are not the same thing.

Percy1983

I must say My plan for my children (if it works out that is) is not to just give them anything. I will save up a fund but it will be in my name to which they may never see it. With that it would always been used on a contribution basis, ie 25% of the value of there first car.

To me there is helping and there is spoon feeding.

Graham_Devon

ninky wrote: »

yes yes quite right. me too. but what you should want for your kids as a parent and what you should want for your parents as their child are not the same thing.

I'd have to disagree again. What I want for my kids as a parent is to be around as long as possible.

Money or not.