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Debate House Prices
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Baby Boomers making out like bandits as usual
Comments
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beckythemadcow wrote: »Because you haven't brought them up with a respect for money?
Not everyone has had such lax parents.
I think they will tell you very differently! and as a consequence I took plenty of stick from them about why they couldn't have such and such because so and so had it, when they were younger. They didnt go without but they had what they needed and not often what they wanted. Needs and wants - two totally separate things.Dont wait for your boat to come in 'Swim out and meet the bloody thing'
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Going4TheDream wrote: »Both have their OWN homes...
Yes I helped them and told them I would match whatever they saved, but expected them to save at least 5% themselves.
I am sorry. I interpreted your posts incorrectly. Obviously your daughters can afford to treat themselves, but perhaps then it is not fair to compare them to the other 20-somethings who are wanting a home of their own - (some of whom are making sacrifices, some of whom struggle to do so).
Of the friends I have who are perhaps like your daughters' friends (skint with nothing to show for it), they have no desire to own their own homes. Even to the point they mock us for aspiring to own one!
It's also worth pointing out, that it is now extremely hard to get a mortgage on a 10% deposit.
28/08/2010 Started saving for a house deposit
25/04/2014 Completed with a £67k deposit
10/05/2014 1st Overpayment made
10/07/2016 Remortgage complete0 -
beckythemadcow wrote: »Of the friends I have who are perhaps like your daughters' friends (skint with nothing to show for it), they have no desire to own their own homes. Even to the point they mock us for aspiring to own one!
It's also worth pointing out, that it is now extremely hard to get a mortgage on a 10% deposit.
My parents at the end of the 50's suffered the same comments when they brought their first and only house, at mid/late 30's. All their family and friends were in rented or council rented.
Accept the tightening up hasn't helped but that is on par with the 80's.
We had close to 20% but I was 5 year s older than my wife. We did have a second hand nylon coverd suite for 4 years though."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
beckythemadcow wrote: »It's also worth pointing out, that it is now extremely hard to get a mortgage on a 10% deposit.
Hopefully we'll see a loosening of purses once the economic recovery gathers more steam. It's interesting that many of the crashers wanted a tightening of lending so that it would cause a housing crash and 'help ftbers' instead all it did was prevent those who could easily afford a mortgage from getting on the housing ladder. They're now stuck in expensive rentals.
A case of 'be careful what you wish for'?0
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