has the housing market done this before somewhere else?

Idiophreak

nogginthenog wrote:

And one more point,people make there decision when they decide how to spend there wages when they start working,living with parents there is no reason people on the min wage cant save £80 per week from the age of 16.
If people want to booze £100 per week and want to take out a loan for a new car at 17 dont go blameing other people if you cant afford a deposit for a house at 30.
And some people go on council housing lists from a early age.

What if, shockingly, your parents don't want you living with them til you're 30?

Or, more to the point, what if you have aspirations beyond minimum wage?
If you drop out of school at 16 you'll find an aweful lot of doors aren't open to you.

The people who ought to be able to afford to buy their own home are surely the people that keep their head down, work hard, go to uni etc? Not the people that leave with GCSEs and stick their name on a council list?

Guy_Montag

Fortunately debt cannot be inherited, so that rules out multi-generational mortgages.

Renting from the bank, as I/O mortgages are, is perhaps not such a silly idea, we might in the next 25 years get massive wage inflation meaning that that £300k house you bought is now worth £15 in real terms. But as a bank, I would love the idea that you pay me for 25 years, look after my house, do all the maintenance, perhaps upgrade it a bit, at the end of which I get to take it all from you. Ok, I suppose we split the profits. Assuming they've learned from previous mis-selling scandals.

nogginthenog

POINT is we all have fundimental choices to make, even the very poorest and unluckyest of us in the uk if want to stay at school that is a choice,so is if you want to save your pocket money/wages.