Wednesday, Mar 04, 2009
This will happen on a massive scale soon.
Telegraph: First-time buyers come home to roost
BOOMERANG CHILDREN!
For Clarissa Young, a highly qualified, articulate 36-year-old from Ascot in Berkshire, waking up each morning in a bunk bed in her parents' spare room is not where she envisaged being at this stage in life, when most of her friends are married with their own children in bunk beds.
"To make matters more laughable, when my 32-year-old brother Jared came home over Christmas, he had to sleep in the top bunk, so there we both were, feeling we'd regressed back to childhood," says Clarissa, who finds herself one of the "boomerang generation'': people in their 20s or even 30s who, usually thwarted by lack of mortgages, precarious careers or the rising cost of living, move back home with their parents.
Posted by flintster1994 @ 07:37 PM (963 views) Add Comment
9 Comments
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1. paul said...
I keep hearing that the average age for FTBs is extending higher and higher 34, 35, 36 and beyond.
You know there's something seriously wrong with house prices when that happens ...
2. Dantheman said...
"I will not let house prices get out of control"
Gordon [Unspeakable Insult] Brown. The Labour Party.
The party of Social Justice.............
3. Ian said...
Well, I'm 34 and still renting in shared accommodation waiting for affordable place to buy.
The question is, with at least 25 years of mortgage ahead, is the prospect of buying a first home (a flat?) really attractive? I think prices still have a long way to go south.
4. whiteknight said...
What doesn't kill you ....
5. drewster said...
Student debts bear a large chunk of responsibility here. When you're 23 years old and twelve grand in debt, moving back home doesn't seem so bad.
Any ideas on why the male/female split?
6. mym said...
'Jared' and 'Clarissa' go back to Berkshire.
Hah.
7. str 2007 said...
For any young people looking to save for a deposit over the next couple of years, this is the way forward. Lower rent (parents gain from a little extra income aswell) better than some scumbag landlord getting your dosh.
You might even get your socks washed.
8. mym said...
I should add that the two old Leeds bastards living in a a detached six-bedroom house are a good example of one of the problems with property ownership in the UK.
I did particularly enjoy 'she and her boyfriend separated and sold their London flat... "We sold our two-bedroom flat in Crouch End at the height of the market in 2007, but as I was a self-employed actress at the time, I couldn't afford to buy anything else I wanted on my own or get a mortgage," says Clarissa, now a PA for music preparation company HotStave. When her next long-term relationship ended, she moved out of the flat she was renting in Nottingham'...
So even the Telegraph calls a soi-disant actress' 18month shack-up a "long term relationship".
O Tempora, O Mores.
9. montesquieu said...
Would guess two reasons on male-female split:
* young women-older blokes: much easier for them to shack up with someone with a bit of resources
* mummy's boy syndrome: increasing tendency for young men to stay and home and be looked after (leaving more money for beer, X-Box games and funny blue lights for your 1.1l hatchback).