"Generation rent" - did ppl really marry in their 20s and buy a house?

Linton

LydiaJ wrote: »

....
Buying a house was just the next thing graduates did after getting a degree. It isn't quite like that any more.

In those days graduates were a privileged minority. Though in my day 10-15 years before yours when graduates were even rarer (< 10% of school leavers) it was normal even for graduates not to buy until marriage. Many people married much earlier than is normal today and didnt really settle down before then.

somethingcorporate

Bought a house at 22 years old with my (to be) wife.

Upper working class background (I would guess).

TickersPlaysPop

I noticed a regular around these parts hasn't commented yet.... interesting... (Clapers) would be nice to see his stance on this topic... for the record....

mayonnaise

Percy1983 wrote: »

We had to leave it to late 20s.

The debt you built up in your early 20s probably was a contributing factor.

Percy1983

mayonnaise wrote: »

The debt you built up in your early 20s probably was a contributing factor.

Most debt was built up 16-20

Anyway double edged sword, I earnt very little at first (and therefore built up debts) which paved the way for a much higher income later (to then pay off debts).

IE, I could have got a higher paying job early on (McDonalds would have paid more) and sure would have got less/no debt, but net effect would be I would be in a worse situation now.

I admit I could have spent 16-20 at home doing nothing and built up no/little debt but I would be much worse off as I wouldn't have met most of my current friends and by proxy my current wife.

In short I do think all paths would have lead to not being able to buy until 25-35, I picked one which dropped me in at 28.

quantic

I would say I've had the opposite (anecdotal) experience to OP:

• Parents: Married 21, bought 22
• In-laws: married 22, bought 23
• Sister: Married 23, bought 25
• Myself: Married 26, bought 24

Out of all of our friends (25/30) I only know of 2 people who don't own their own house. Having said that, in both our current house and last one we are the youngest people by at least 15 years. Most of our neighbors have kids older than us still living with them.

I often wonder if some of it has todo with whatever your parents did, for me it wasn't really an option to rent. For the record we have received no financial assistance from anyone.

silvercar

Most of my peer group went to uni early 80s and fell into graduate jobs straight from uni. No student loans, got married soon after uni (I was 23) and bought first homes at the same time. We needed 2 salaries to buy near London.

We are all early 50s and most have moved on up the housing ladder to decent sized homes. Our children are early 20s and have had a much harder time finding graduate jobs and most are saddled with student debt. They haven't got a chance of buying in London without parental help.

[Deleted User]

I think i'm at the cutoff age for 'young' now (35 in March).. I was lucky enough to *only* pay £1k a year at uni. Thankfully I got on the career/housing ladder before it all collapsed in 2006/7

So, I did save my deposit in my early 20s, met my wife and bought my home in my mid-20s, then set about having a family in my late-20s/early 30s.

Anyone sensible and young would be best to avoid trying to do this in the South East

borkid

Graduated at 21, married at 22 bought flat ( greater London) at 23
My daughter graduated at 20 and bought house at 20 ( we stood as guarantor but she did a have job offer) in 1998.
Son graduated at 21 , flat ( in central London) at 23 in 2004

Marrying and buying a homewas normal for my friends at the time.

lisyloo

Son graduated at 21 , flat ( in central London) at 23 in 2004

That would be pretty impossible now I would think, unless you are looking at total extremes i.e. highest salaried graduate in pretty dire housing.