3 Million British 20-34 Year Olds Living With Parents.

[Biggus]

Yes, it's clearly changed since I was young. Back then you walked into a fifty grand a year middle management job and we given the keys to a 3 bed semi (for which you paid a tenner a week mortgage) upon starting out in the workplace.

Clearly this is no longer the case and it appears that you are likely to get a pretty low paid, low responsibility job when beginning your working life. I must say that I am shocked by this hitherto unheard of state of affairs which is without precedent in human history.

My parents are paper millionaires because of house price increases. Total up their lifetime earnings and it adds up to nowhere neat a million pounds. They still think they deserve it, though, because, well, I never can quite worked out why they believe this.

[Onion Boy]

My parents are paper millionaires because of house price increases. Total up their lifetime earnings and it adds up to nowhere neat a million pounds. They still think they deserve it, though, because, well, I never can quite worked out why they believe this.

A workmate of mine has been paid around fifty pounds per day, weekends included, for 22 years just for living in his house.

If he can sell now for what he says it's worth, of course.

[EmmaRoid #FBPE#JC4PM#GTTO]

She would have graduated from Uni in 1994. So no tuition debt. Even if she p*ssed around for a couple of years she still could have bought a house in the late 1990s. And she went to Uni? Clearly didn't do a degree in common sense!

Hindsight is a wonderful thing.

Maybe at the time she was too busy just living her life? Strange to think it but many more interesting things to do than buying houses.

[FreeTrader]

From the Bank of England Feb 1989 Quarterly Bulletin:

[cybernoid]

Hindsight is a wonderful thing.

Maybe at the time she was too busy just living her life? Strange to think it but many more interesting things to do than buying houses.

That was my mistake. I thought if property became unaffordable the prices would come down otherwise no-one could sell one. I thought it was a 'market'. I thought moving around improving my prospects and income was better than getting stuck in a dead end job, buying a house and then sitting on my ar5e. I now know what to do. The government will be footing my retirement bill, I shall see to it.

[motch]

Hindsight is a wonderful thing.

Maybe at the time she was too busy just living her life? Strange to think it but many more interesting things to do than buying houses.

Indeed. Circumstances meant it was almost as cheap to buy and live in my own 2 bed maisonette rather than keep living at home with parents back in 1996, so I bought my pad for just under £20k and lived there. Otherwise I'd of just kept living at parents home. So I was more lucky than it being good finacial sense, with hindsight i'd of bought ten places, and sold at their peak of circa £100k

[StainlessSteelCat]

Hindsight is a wonderful thing.

Maybe at the time she was too busy just living her life? Strange to think it but many more interesting things to do than buying houses.

Quite so. If she graduated in 94, it could have been a couple of years before she found a job due to the recession. I'm a similar age and I didn't end up in a permanent and vaguely decently paid job until late 96 (and I was one of the luckier ones of my contemporaries - and certainly compared to many of today's graduates). Plus there was a house price crash in the early 90s which would put a lot of 20 somethings off from buying.

It first occurred to me to think about buying a place in 2000 - but I just switched jobs again to live in London. London, of course, was just beginning to go mental in terms of pricing. Hard to believe now, of course, but a few people thought things were overheated and expected a crash as early as 2001! And being a super-cautious Gen Xer with a hatred of debt and lack of job security I was dumb enough to listen to them.

Even in the 90s it was clear that there were more graduates than graduate jobs so I guess a significant number either never broke out of the McJob or took quite a few years to do so.

I guess it's never been easy but it's clear there's a massive mountain for the average young person to climb nowadays. The monetary burden is just frightening - and I'd suggest basically unpayable. It's impossible to imagine the average person starting out being able to cover pension, taxes, rent, student loan, high living costs while being able to save for deposit.

[motch]

Is everyone reading this thread 29 and living with parents?

....I'm 29 and have just moved back in with the parents btw....

I used to be 29 and have lived with parents, does that count?

[EmmaRoid #FBPE#JC4PM#GTTO]

Quite so. If she graduated in 94, it could have been a couple of years before she found a job due to the recession. I'm a similar age and I didn't end up in a permanent and vaguely decently paid job until late 96 (and I was one of the luckier ones of my contemporaries - and certainly compared to many of today's graduates). Plus there was a house price crash in the early 90s which would put a lot of 20 somethings off from buying.

It first occurred to me to think about buying a place in 2000 - but I just switched jobs again to live in London. London, of course, was just beginning to go mental in terms of pricing. Hard to believe now, of course, but a few people thought things were overheated and expected a crash as early as 2001! And being a super-cautious Gen Xer with a hatred of debt and lack of job security I was dumb enough to listen to them.

Even in the 90s it was clear that there were more graduates than graduate jobs so I guess a significant number either never broke out of the McJob or took quite a few years to do so.

I guess it's never been easy but it's clear there's a massive mountain for the average young person to climb nowadays. The monetary burden is just frightening - and I'd suggest basically unpayable. It's impossible to imagine the average person starting out being able to cover pension, taxes, rent, student loan, high living costs while being able to save for deposit.

I'm in no position to judge, I left university in 2001 and with hindsight, I *should* have bought in late 2002 as soon as I got a permanent job despite its relative low pay (<£13k) but I obviously didn't understand what was going on. Instead I waited till 2005 and all bets were off by then and it's got worse since.

[Pent Up]

Yes, it's clearly changed since I was young. Back then you walked into a fifty grand a year middle management job and we given the keys to a 3 bed semi (for which you paid a tenner a week mortgage) upon starting out in the workplace.

Clearly this is no longer the case and it appears that you are likely to get a pretty low paid, low responsibility job when beginning your working life. I must say that I am shocked by this hitherto unheard of state of affairs which is without precedent in human history.

Good old days....

[Spoony]

Nice but no privacy. Anyway slightly back to the topic in a way that I seem to do all the time......

I was talking to my hairdresser the other day, she was saying how she lives with her parents again and she needs to get on the ladder...but its so expensive. "I need to find a rich bloke" she says. Not what I wanted to hear. I was thinking of asking her out next time. I hope the rich bloke for a house was just a comment in passing. This girl is 24

[Guest eight]

Then get a development board from Xilinx/Altera and start writing something interesting. Once you have done a couple of home projects and actually got them to work, you are employable. We have had two new-grads come to us who were unable to get a job. They wanted some on-the-job training and would work for free (we had to pay NMW to be legal). After 3-6 months, they went on to get full-time jobs.

I thought it paid £25K with, like, no experience at all?

Logic fail on your part. Highly ironically.

[VeryMeanReversion]

I thought it paid £25K with, like, no experience at all?

Logic fail on your part. Highly ironically.

Multiple people applied for one job vacancy.

We took on the best one and paid them £25K starting salary. The person we took on had no experience but clearly very bright and keen.

One of the interviewees that we did not offer the job asked if he could work for us for free to gain some experience. We paid NMW, I gave them some training and then asked them to leave after 3 months. They then got a full-time job doing similar work within a month.

We do not have unlimited vacancies at £25K each.