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Bomad - News At Ten Tonight

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http://www.itv.com/n...e-never-before/

TV News has seen exclusive research that shows the staggering scale of the financial support that families are extending to their adult children. Every year, 2 billion pounds is now being passed from one generation to the next.

Edited by aSecureTenant

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http://www.itv.com/n...e-never-before/

TV News has seen exclusive research that shows the staggering scale of the financial support that families are extending to their adult children. Every year, 2 billion pounds is now being passed from one generation to the next.

It's just a big circle jerk with some banker skims en route. £2Bn is not a great deal really, around 1 week's worth of gross lending at current levels. I'm sure plenty more flows in the other direction in unseen transfers via the tax/benefit system.

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June 2013: In 2006, 67% of first-time buyers got on housing ladder without financial help from parents - but by last year this figure had collapsed to just 36%..

http://www.housepricecrash.co.uk/forum/index.php?showtopic=190921

BoMAD has played a part in increasing the value of the parents' homes. There are stresses out there now in the economy, more older people regretting how they've managed their financial affairs.

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June 2013: In 2006, 67% of first-time buyers got on housing ladder without financial help from parents - but by last year this figure had collapsed to just 36%..

http://www.housepricecrash.co.uk/forum/index.php?showtopic=190921

BoMAD has played a part in increasing the value of the parents' homes. There are stresses out there now in the economy, more older people regretting how they've managed their financial affairs.

Yes, but FTB volumes have fallen by roughly half IIRC, so the number receiving financial assistance has remained roughly constant 33%*2 ~= 64%, while the number not receiving assistance has fallen by three quarters (if my sums are right: 67%*2 ~= 4*36%).

Q

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http://www.itv.com/n...e-never-before/

TV News has seen exclusive research that shows the staggering scale of the financial support that families are extending to their adult children. Every year, 2 billion pounds is now being passed from one generation to the next.

Where could one acquire such parents?

I'd be more than happy to pay a small finders fee. :)

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June 2013: In 2006, 67% of first-time buyers got on housing ladder without financial help from parents - but by last year this figure had collapsed to just 36%..

http://www.housepric...howtopic=190921

BoMAD has played a part in increasing the value of the parents' homes. There are stresses out there now in the economy, more older people regretting how they've managed their financial affairs.

Mew Mew, Boo Hoo. Hope they enjoyed it.

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Earnings reinvestment plays an important role in extending the duration of all Ponzi schemes. Most of Madoff's clients had automatic reinvestment clauses in their contracts. Imaginary gains from imaginary trades with the occasional withdrawal covered by genuine prior investments.

With BOMAD the reinvested capital is more tangible although once again the real total value of the fund is a mere fraction of the imaginary total.

Let's look at some numbers. Assuming Madoff got $1bn in new money every year and his clients reinvested 95% annually, even if he got a 0% real return on his investments p.a. (against the fictional 14% he advertised), his Ponzi scheme could stay upright and solvent for over two decades.

A total of $22bn paid in, and most of it paid out in the last few years of the scheme even as the fake total soars to record heights.

madoff-numbers.jpg

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Every year, 2 billion pounds is now being passed from one generation to the next.

Its a good job housing is so expensive or they wouldn't be able to do equity release to help their children with the high cost of housing.

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Where could one acquire such parents?

I'd be more than happy to pay a small finders fee. :)

Betty, Earl and Joyce the nation's surrogate BOMAD.

Wonga_2414302b-460x288.jpg

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Where could one acquire such parents?

I'd be more than happy to pay a small finders fee. :)

There is a falling supply of BOMADs who can if they wanted to are now able to help FTBers.....the balance in the bank account has been already spent.....the bottom to middle end of the country is getting poorer not richer.......inflation and debt have seen to that. ;)

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Betty, Earl and Joyce the nation's surrogate BOMAD.

Wonga_2414302b-460x288.jpg

Your posted image captures the very essence of the state of affairs.

The image tells so many stories

Visit any National Trust garden and you will see that family.

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The mums and dad's are so desperate to keep their asset values up, that they are plowing their gains into the bottom of the pyramid scheme, (expecting it to come back tripled in value again, probably)

Edited by Reck B

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The mums and dad's are so desperate to keep their asset values up, that they are plowing their gains into the bottom of the pyramid scheme, (expecting it to come back tripled in value again, probably)

I really don't think that's the calculation, even at my most cynical. That it's misguided, I won't deny, but I don't think it's predatory, just pat/maternal.

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I really don't think that's the calculation, even at my most cynical. That it's misguided, I won't deny, but I don't think it's predatory, just pat/maternal.

No, no - it's all the evil 'boomers' doing, of course. A massive conspiracy to defraud the 'kids' and steal from them. They are so diabolical in their plotting that they even disguise it as helping their kids out - those fiends! <_<

Nepotism is always going to be present in any sphere of activity - human nature. I can't help but feel that those who think they are 'helping' their kids by handing over large parts of their own wealth to them to get into the overpriced housing market are actually doing the exact opposite. The ridiculous HPI bubble is now busy hollowing out the wealth of multiple generations but it doesn't really have anywhere else to go after it cleans out the elderly.

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No, no - it's all the evil 'boomers' doing, of course. A massive conspiracy to defraud the 'kids' and steal from them. They are so diabolical in their plotting that they even disguise it as helping their kids out - those fiends! <_<

Nepotism is always going to be present in any sphere of activity - human nature. I can't help but feel that those who think they are 'helping' their kids by handing over large parts of their own wealth to them to get into the overpriced housing market are actually doing the exact opposite. The ridiculous HPI bubble is now busy hollowing out the wealth of multiple generations but it doesn't really have anywhere else to go after it cleans out the elderly.

Exactly - however, even if BOMAD gets it, their perception is that they are participants in the tragedy of the commons. They almost are - but for the most part their kids are young enough to take a few years of renting whilst they wait for a correction.

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I really don't think that's the calculation, even at my most cynical. That it's misguided, I won't deny, but I don't think it's predatory, just pat/maternal.

I know, just a toungue-in-cheek echo of some of the boomer-bashing that goes on here sometimes.

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I know, just a toungue-in-cheek echo of some of the boomer-bashing that goes on here sometimes.

Ah - I'll go and get my irony-detector checked...

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No, no - it's all the evil 'boomers' doing, of course. A massive conspiracy to defraud the 'kids' and steal from them. They are so diabolical in their plotting that they even disguise it as helping their kids out - those fiends! dry.gif

Nepotism is always going to be present in any sphere of activity - human nature. I can't help but feel that those who think they are 'helping' their kids by handing over large parts of their own wealth to them to get into the overpriced housing market are actually doing the exact opposite. The ridiculous HPI bubble is now busy hollowing out the wealth of multiple generations but it doesn't really have anywhere else to go after it cleans out the elderly.

They will be cleaned out twice, when they hand their savings over, and when the value of their house collapses? Double whammy for Granny?

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It pretty much wasn't normal to have your parent bung you a deposit back in the late 80s, when a I bought a flat! I had to sell my motorbike to get a 10% deposit! And it hurt! :o

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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