Baby Boomers at it Again

Jennifer_Jane

ruggedtoast wrote: »

A home sure ain't a 6 month AST lady.

This sounds like something from a Western. I don't understand what you're on about. What is a "6 month AST lady"?

BobQ

ruggedtoast wrote: »

Modern Britain. If you haven't got rich parents don't bother expecting a home anywhere.

Well if you have the ability, work for the qualifications and then get a good job you can save and then buy one. Alternatively, you can develop a business and buy one. What you cannot do now or in the past is expect to buy a house in a nice area in showroom condition without some sacrifices and without the means to pay. Having rich parents is not a modern phenomenon. I had to work to buy my house, my parents could not afford to subsidise my aspiration to own a house. My friend inherited money 30 years ago, has a similar house he owns and has never had a mortgage in his life. Am I bitter? No. You make your own luck in life it was ever thus.

seven-day-weekend

ruggedtoast wrote: »

A home sure ain't a 6 month AST lady.

I agree, and therefore why should I sentence my son to insecure AST's when I have the wherewithal to help him buy a very modest home?

seven-day-weekend

Jennifer_Jane wrote: »

This sounds like something from a Western. I don't understand what you're on about. What is a "6 month AST lady"?

He is referring to an Assured Shorthold Tenancy and YOU are the lady!

System

I don't understand this inter-generational antagonism and envy, nor the stigmatising of certain generations as hard-working or selfish. Nor do I understand the implied criticism in the use of such phrases as "bank of mum and dad".

To me the family is a constant entity usually consisting of about 3 generations at any one time, moving onwards down the ages. Anything I have materially is not "mine", as neither was it my parents'. And anything I pass to my children will not be "theirs" but a kind of trust, to use for the support and enrichment of their lives in the same way as I used it for mine.

Over the generations the family has sometimes been wider and more extended than now, but always there have been some doing better and some needing support, some needing a leg up in early life, some needing assistance in old age.
When my father gave me a small deposit on a house 40 years ago he wasn't dipping into "bank of mum and dad", any more than I am if I do the same for my children, in whatever way they need - education, housing, or anything else worthwhile. It's family self help, and in my opinion laudable and to be encouraged.

seven-day-weekend

Clifford_Pope wrote: »

I don't understand this inter-generational antagonism and envy, nor the stigmatising of certain generations as hard-working or selfish. Nor do I understand the implied criticism in the use of such phrases as "bank of mum and dad".

To me the family is a constant entity usually consisting of about 3 generations at any one time, moving onwards down the ages. Anything I have materially is not "mine", as neither was it my parents'. And anything I pass to my children will not be "theirs" but a kind of trust, to use for the support and enrichment of their lives in the same way as I used it for mine.

Over the generations the family has sometimes been wider and more extended than now, but always there have been some doing better and some needing support, some needing a leg up in early life, some needing assistance in old age.
When my father gave me a small deposit on a house 40 years ago he wasn't dipping into "bank of mum and dad", any more than I am if I do the same for my children, in whatever way they need - education, housing, or anything else worthwhile. It's family self help, and in my opinion laudable and to be encouraged.

Absolutely, this is what we feel too. I wish i could thank this post more than once.

We borrowed the deposit for our first bought home from my b-i-l (twenty years older than us), and then paid him back. The money we have given our son came from the sale of our Spanish house, which was initially funded largely with an inheritance from my husband's mother....the money is just making its way down the generations. As you say, it's for the whole family's use, not just ours.

FOREVER21

ruggedtoast wrote: »

Modern Britain. If you haven't got rich parents don't bother expecting a home anywhere.

What rubbish, I have numerous friends who do not have rich parents, but are buying their own homes, yes they struggle but have the sense to know that in the long term they will benefit, and if in turn they can help their children then good luck to them.

cotleigh

Families have always helped each other out, financially and otherwise. I first bought a flat in NW2 in 1992. I was earning £15K, could borrow 3.25 times that off Abbey, even then couldn't even afford a studio in the "nicer" area where I then rented (West Hampstead) so had to go a few stops up the tube line to Willesden. Could just afford a messed-up repossession with a £3K loan from my Dad. I paid him back with interest over the next couple of years, and he and my sis came round and helped me decorate the place. As I later helped my sisters with moving, painting etc. Families helping each other out is not a bad thing at all.

spgsc531

GeorgeHowell wrote: »

If you want the same retirement age, work harder, put more hours in, get promoted, save more, make sacrifices, the world owes you squat.

Got to agree with this

PaulF81

spgsc531 wrote: »

Got to agree with this

I was talking about the socialist pension, not private.

Quite easy for the boomers to chat about this when they have put very little work in for the pensions they are expecting. Ticket to dignitas I say.