Indy: Economic circumstance is forcing grown adults to live like juveniles

ruggedtoast

http://blogs.independent.co.uk/2012/09/01/arrested-development-economic-circumstance-is-forcing-grown-adults-to-live-like-juveniles/

The cost of living, a challenging job market, difficulties in obtaining credit and historically high house prices, mean many people in their thirties and forties are having to squeeze adult needs and intolerances into juvenile lifestyles.

Those that haven’t been able to get on the property ladder or struggling to pay astronomical rents in places like London are forced to return to the family home like prodigal teenagers, while others live in shared houses – perpetual ‘students’ squabbling over fridge space, cleaning rotas and toilet roll.

Having lived in shared houses in London for several years, there was one incident that was symbolic of what it means to share in your thirties. It was when I broke a former housemate’s dinner plate. The argument that followed was not just because I forgot to tell her straight away, it was because the plate was from John Lewis, not just any old tat.

Figures from EasyRoomate show that the average number of renters living as flatmates or lodgers has increased to 2,851,000 from 2,749,000 a year ago. And during a six-month period the number of professionals over the age of 40 looking for rooms in a shared property increased by over 2,000 from 12,000.

The impact on relationships is notable. Increasing rents mean adult couples can’t afford to live together. Many are forced to conduct their relationships within the boundaries of one room in their respective shared houses – reminiscent to a dulled down university halls – Klimt hanging on the walls, a no-noise rule after 10pm on a work night and domestic rotas as complex as a spaceship’s control room.

Another option, which knocks the traditional love nest out of the tree, is living in a shared house as a couple. Again, figures from EasyRoommate, show that in May 2011 the number of couples looking to share a flat nearly doubled, increasing by 91 per cent since the same period in 2011. Such precarious living arrangements make suggestions of babies and marriage almost sarcastic.

Government-instigated shared ownership schemes such as those offered by FirstSteps may be appealing to couples or singletons who have outgrown their current living arrangements. But depending on the value of the property, a substantial deposit is still likely to be required, as well as £4,000 to cover the cost of buying. The mortgage terms are also likely to be shorter for older buyers, leading to higher monthly payments.

Going on holiday with the parents is another aspect of life that has continued for cash-strapped adults as old as 40. A survey by LV= travel insurance suggests that almost two million parents will be taking their grown-up children on holiday with them this year, with two fifths of them paying for their adult child’s holiday as a treat.

Many baby boomer parents, who have benefited from generous pensions and property wealth, are still in a position to give, and their grown children are still sheepishly putting out their hands as if it is Saturday-morning pocket money time.

Another sad indictment of our property owning plutocracy.

FTBFun

Another journalist with massive entitlement issues using their employer to have a big whinge.

ILW

Any 40 year old "professional" who cannot afford to buy or rent a flat is not a professional at all.

Loughton_Monkey

ruggedtoast wrote: »

......Another sad indictment of our property owning plutocracy.

No. No. No.

Another sad indictment of:

(a) A rather perverted behavioural pattern of the younger generation.

(b) A mediochre journalist scraping the bottom of the barrel for a mediochre blog to which even the mediochre editor would not give houseroom to as an 'editorial' piece.

Perhaps it's the declining standards of education. Perhaps it's the upbringing amongst a family of "must have now", "spend it all", and "if I can't afford it, then borrow" merchants. Perhaps it's the cultural environment that say's "You don't need any personal responsibility because the State will provide".

I don't know.

Property Owners [whether or not a 'plutocracy'] have nothing whatsoever to do with it.

A._Badger

Or perhaps it's because Indy writers tend to make even Guardianisas look borderline sane.

ruggedtoast

Loughton_Monkey wrote: »

No. No. No.

Another sad indictment of:

(a) A rather perverted behavioural pattern of the younger generation.

(b) A mediochre journalist scraping the bottom of the barrel for a mediochre blog to which even the mediochre editor would not give houseroom to as an 'editorial' piece.

Perhaps it's the declining standards of education. Perhaps it's the upbringing amongst a family of "must have now", "spend it all", and "if I can't afford it, then borrow" merchants. Perhaps it's the cultural environment that say's "You don't need any personal responsibility because the State will provide".

I don't know.

Property Owners [whether or not a 'plutocracy'] have nothing whatsoever to do with it.

How about boomers then?

Gracchus_Babeuf

I agree with the journalist. Those now in the 60s and 70s are laughing all the way to the bank: skyrocketing property prices, final salary pensions, 67 years of peace. And the government is making them even richer by the moronic quantitative easing that inflates assets and lowers the value of money.

Gracchus_Babeuf

Loughton_Monkey wrote: »

No. No. No.

Another sad indictment of:

(a) A rather perverted behavioural pattern of the younger generation.

(b) A mediochre journalist scraping the bottom of the barrel for a mediochre blog to which even the mediochre editor would not give houseroom to as an 'editorial' piece.

Perhaps it's the declining standards of education. Perhaps it's the upbringing amongst a family of "must have now", "spend it all", and "if I can't afford it, then borrow" merchants. Perhaps it's the cultural environment that say's "You don't need any personal responsibility because the State will provide".

I don't know.

Property Owners [whether or not a 'plutocracy'] have nothing whatsoever to do with it.

You sound like a stupid old fart. So I assume you probably are one. :rotfl:

What the hell do you mean by 'corrupted behavioural pattern'? And your other rantings?

Gracchus_Babeuf

ILW wrote: »

Any 40 year old "professional" who cannot afford to buy or rent a flat is not a professional at all.

Have you looked at property prices in London recently? And compared them to average salaries? Not every 'professional' is a city trader earning £200k a year + bonus. And please don't fob me off with the commuting argument - what you save in house price you lose in skyrocketing train fares.

My wife and I could only afford to buy a house because my parents and my partner's parents gave us £110k to help us out. Many are not so lucky.

antrobus

FTBFun wrote: »

Another journalist with massive entitlement issues using their employer to have a big whinge.

A journalist? At the Independent? Are you quite mad? It's been years since the Independent could afford to employ journalists.

ruggedtoast

A._Badger wrote: »

Or perhaps it's because Indy writers tend to make even Guardianisas look borderline sane.

You're entitled to your opinions.

Your opinions are going to reach a lot less people than her's though.