Peter Parker

Both Parents at 32 in 1992: - Married (at 19) - 3 kids - Were on to 2nd home, 3 bed terrace - 2 cars - Own business - Earned £20k each - No degree - No real debts - No actual savings - Aspirations - expand business, enjoy finer things in life, twice yearly holidays, keeping up with Jones', bigger house, bigger car, property portfolio, ensure all kids go to uni and wanting grand children. 2012 reality - 3 dependent kids in their 30's living at home (except me), no grand kids, business hit the buffers, one crappy 2nd hand motor, seeing the value of their property portfolio collapse, own house in -ve equity, debts, shopping basket full of tescos basics, Me 2012 - 32yrs old - No kids - Single - Work as a temp - £33k/yr average in London - Generally buy basics, dont really go out much, save all i can - Live in a London house carved into 10 bedsits, mainly occuppied by Poles. - Aspirations, same as the ones I have at 18, nothing much has been acheived. - Student debt, all else paid off. - £30k saved for deposit but now looking leave UK instead. Everyone of my peers is in the same boat except they most likely have no savings. So where are you compared to where you parents were in their early 30s?

Im single, 32, earn around £32k in media finance in London, no debts (except student loan) and about £30k in the bank. I wanted to buy a house and 'get on with my life' but now I think its the last thing i want to do. When you hit 30 you realise you need a bit more security and a home ownership affords you that. So I decided to save for a deposit a few years ago. I had to live below my means, go without holidays, gadgets and fun times. I'm living in a zone 3 semi that's been carved into 10 bedsits for £500/month. Its horrible but it's allowed me to save £10/k yr, clear my credit card debts from travelling and I thought by now I would have enough for a deposit as prices would have become more affordable but they have barely dropped in London. House prices haven't fallen at all in my area. Vendors and banks make me feel I am being the greater fool, I would still have to take out a massive debt to realise their HPI profit. It doesn't feel fair or right. Doing the sums it doesn't make sense considering the personal sacrifices servicing a mortgage would entail and in my stomach it just doesn't feel right. I know my mates who have bought over the last 6yrs have no life at all and live like mortgage indebted slaves and I dont want to be like that. I think I have lost any passion in wanting to own a home in the UK or even living here. I used to work in Australia and New Zealand on a holiday Visa several years ago and I quite enjoyed that but I was in my early 20s and carefree. I also dont know whether they are on the brink of an economic bubble bursting too. My savings do give me a psychological boost that I have a financial safety net should I come across hard times. The picture I'm painting might make it look clear cut that I should move on but I don't know whether starting a new life at 32 elsewhere will be that easy when all my friends and family are down here and part of me feels like this drifty situation is some kind of personal failure. I wont even begin to mention what my parents had achieved by 32 (they keep reminding me) but that was a different time I tell them.