Housing Shortage Forces Millions of Adults to Live With Parents

CLAPTON

pickledonionspaceraider wrote: »

Then if they are happy with the arrangement that is great, but I find it unlikely that parents would charge the going rate for a bedsit + food + utilities + use of facilities etc. A lot of rebounders seem to live with parents so they can save a house deposit

IMO it's not just about money though. There's also the element of personal space and a private life that parents are going to have less of, having another adult in the house. Must be a right passion killer to have your grown up offspring in the next door bedroom :rotfl:or , on the other hand, for the offspring themselves.

many parents welcome a returning child.


when one of ours returned (after Uni, travelling the world, getting a job, moving out etc) so they could save up for a deposit, they were a joy to the house


mature, intelligent, helpful, considerate, willing to pay their way (declined) , they introduced some new holiday destinations, many new recipes and we enjoyed meeting their international selection of friends etc.
and when they left we all felt our relationship was more adult that previously.

kabayiri

CLAPTON wrote: »

many parents welcome a returning child.


when one of ours returned (after Uni, travelling the world, getting a job, moving out etc) so they could save up for a deposit, they were a joy to the house


mature, intelligent, helpful, considerate, willing to pay their way (declined) , they introduced some new holiday destinations, many new recipes and we enjoyed meeting their international selection of friends etc.
and when they left we all felt our relationship was more adult that previously.

Indeed; all this thread exposes is some very narrow views (some might describe them as old fashioned).

Modern parents have to be flexible.

Friends have built a cabin in the garden for one of their offspring, and it's fabulously creative in the use of space - even though from the outside it looks much like a large shed.

I appreciate that this is not so much of an option for those living in smaller properties.

Jack_Johnson_the_acorn

chucknorris wrote: »

Why is a flat/maisonette unsuitable? It could be your starter home, allowing you to build up some equity to use to buy a house later.

I live in a grand (in scale) converted maisonette, first and second floor of a detached house. Only one neighbour who lives below, I love living off the ground as it feels a lot more private.

princeofpounds

Friends have built a cabin in the garden for one of their offspring, and it's fabulously creative in the use of space - even though from the outside it looks much like a large shed.

AKA Sheds with beds?...

http://www.bbc.co.uk/news/uk-17185294

HAMISH_MCTAVISH

princeofpounds wrote: »

Sheds with beds?...

An inevitable consequence of the housing shortage.

MatteH

Is this the same housing shortage that suddenly went into reverse in 08/09 when 20% was lopped off prices?

CLAPTON

MatteH wrote: »

Is this the same housing shortage that suddenly went into reverse in 08/09 when 20% was lopped off prices?

yes it is

as an intelligent person you obviously realise that the demand for housing is a 'want' and not a 'need'.
A 3 bed semi can easily house 12 to 20 people if it were necessary.
However, if you observe the people around you, you'll find the vast majority don't want to live like that.

also as an intelligent person you will observe that 'demand' is a combination of 'want' and 'ability to pay', so demand will drop if people stop 'wanting' something but it will also drop if they can't find the money : it this case mortgages or lose jobs etc.

Graham_Devon

CLAPTON wrote: »

yes it is

as an intelligent person you obviously realise that the demand for housing is a 'want' and not a 'need'.
A 3 bed semi can easily house as 12 to 20 people if it were necessary.
However, if you observe the people around you, you'll find the vast majority don't want to live like that.

also as an intelligent person you will observe that 'demand' is a combination of 'want' and 'ability to pay', so demand will drop if people stop 'wanting' something but it will also drop if they can't find the money : it this case mortgages or lose jobs etc.

Which is all a rather insulting and demeaning way of suggesting credit expansion and contraction has a rather larger part to play in house prices.

sulphate

I don't see anything wrong with young people in that age bracket living with parents to save for a deposit. Sure, there are practical reasons why it might not be possible for everyone (house too small, parents unwilling/dead, job too far away from family home). However a lot of people don't do it because it's unfashionable and there is a lot of pressure on young people to "be independent" and "stand on your own two feet".

Actually, my husband and I lived with my parents for 2 years whilst we saved up and I learnt more about money management and budgeting in that time than I did in the 4 years of renting previously. We weren't on high salaries and live in an expensive area so would not have had the opportunity to save up otherwise. Yes, I even had an iPhone! I can confirm that spending £20 a month on a mobile phone contract didn't affect my saving ability very much. :rotfl:

We were lucky in that my parents were happy (ish!) to have us stay with them for a couple of years but I think grown adults living at home should be making provision to leave eventually, either by renting or saving for a deposit. My half-brother is in his 40s and still lives with his mum, he's worked full-time since he left school but apparently never has any money. It's not really acceptable IMO.

I also think some people have very high expectations of the first home they want to buy and decide not to bother unless they can afford something like a 4 bedroom detached.

We are very happy in our 2 bedroom starter home, the second bedroom isn't even used at the moment - it will be from February when we have our first child. Even then the house will be big enough for us for a few more years. My in laws on the other hand can't understand why we aren't moving up the property ladder, even though we've only been in our house for a year, because apparently "no one else worries how they are going to pay the mortgage". :eek::eek:

mayonnaise

samsam89 wrote: »

I'm 25 and my girlfriend is 24. We're desperate to get on the property ladder but there aren't many affordable houses out there for us, and the ones that are just about affordable simply aren't suitable (i.e. flats, maisonettes and retirement bungalows in the area we live in) for what we need.

chucknorris wrote: »

Why is a flat/maisonette unsuitable? It could be your starter home, allowing you to build up some equity to use to buy a house later.

Probably because they 'deserve' better.