Couple take their 30-year-old son to Court to try and get him to leave their family home

[rollover]

Quote

Mark and Christina Rotondo of Camillus, New York say they have been trying to kick their 30-year-old son Mark out of their house for months. They say he doesn't pay rent or contribute in any way around the house. Over the past three months, they've sent him five letters, telling him he is being evicted, but he still has not moved. Daily Mail

It is from US but I think, there is similar problem here.

[thewig]

Initiate propaganda programme "generational warfare"

[UnconventionalWisdom]

50 minutes ago, rollover said:

It is from US but I think, there is similar problem here.

Definitely, I know a few people who have to live with their parents. Luckily, most parents understand it's because of the stupid housing situation as oppose to calling the kids lazy. How long until all of society turns against HPI policies. Surely, can't be many considering their property wealth a good thing whilst having their 30-year-old kids living with them.

[rollover]

2 minutes ago, UnconventionalWisdom said:

Definitely, I know a few people who have to live with their parents. Luckily, most parents understand it's because of the stupid housing situation as oppose to calling the kids lazy. How long until all of society turns against HPI policies. Surely, can't be many considering their property wealth a good thing whilst having their 30-year-old kids living with them.

Yes good point.

I had colleague, his son played computer games all night, slept till lunch time and haven't done much round the house.

[cashinmattress]

Fake news.

[reddog]

Looks like a nice place to live, but I doubt there are many jobs around there.  I feel for the 30 year old.

[Arpeggio]

I see there’s a cheeky cheeky mention on the house price at 218k usd (162k gbp). I’d have thought New York would be more expensive than that, must be outer parts.

[Funn3r]

8 minutes ago, Arpeggio said:

I see there’s a cheeky cheeky mention on the house price at 218k usd (162k gbp). I’d have thought New York would be more expensive than that, must be outer parts.

New York to us means skyscrapers and yellow cabs, but that's what Americans call New York City. The actual New York state is very rural and bigger than UK I think. 

[maverick73]

Street life

[reddog]

42 minutes ago, Arpeggio said:

I see there’s a cheeky cheeky mention on the house price at 218k usd (162k gbp). I’d have thought New York would be more expensive than that, must be outer parts.

Yeah, it's almost on the Canadian border, as I say, looks nice but hardly any jobs (that area used to be a manufacturing power house)

Edited May 22, 2018 by reddog

[thewig]

15 minutes ago, Rod39 said:

Articles like this make me feel like such a loser. I do feel like a poster child for Millennial failure to launch sometimes.

 

I should have 14k by next pay day by living out of my childhood bedroom.

 

I get on a suburban commuter train at 7am in the morning. Arrive back in Essex at 7pm at night. My life is a Reggie Perrin style existance of sleep, train, work and repeat.

 

I’m banking over £1000 a month. Paying £100 p/m in keep and losing about £350 p/m on trains.

 

I should have 20k by Xmas if I save really really hard and cease any discretionary spending.

 

My job is in central London and I’m increasingly coming round to the idea of Liverpool or Manchester where 20k goes somewhat further.

 

 

 

 

 

Get the hell out of dodge pal, simple.

 

That attitude you’ll go far.

[Wayward]

3 hours ago, cashinmattress said:

Fake news.

Quite right, nothing to see here...back to work...pay the rent.

[Arpeggio]

19 minutes ago, Rod39 said:

Articles like this make me feel like such a loser. I do feel like a poster child for Millennial failure to launch sometimes.

I should have 14k by next pay day by living out of my childhood bedroom.

I get on a suburban commuter train at 7am in the morning. Arrive back in Essex at 7pm at night. My life is a Reggie Perrin style existance of sleep, train, work and repeat.

I’m banking over £1000 a month. Paying £100 p/m in keep and losing about £350 p/m on trains.

I should have 20k by Xmas if I save really really hard and cease any discretionary spending. 

My job is in central London and I’m increasingly coming round to the idea of Liverpool or Manchester where 20k goes somewhat further.

You have a job, work full time, are financially sensible and that's all there is to it.

You are Usian Bolt training hard......the housing market is a fat ass on a sports motorbike. Being shafted isn't the same as being a "loser".

[thewig]

As for the OP, do these fcking people not consider to just bang the rents up on their uppity little fck of a son?

 

That'll give the little scrot a short sharp crash course in the school of life. Bang em up, sit back and watch it (the coin) roll in.

 

 

[Hullabaloo82]

Jesus effing Christ.

When I read the title of the thread I assumed it was just someone writing a quick two second summary of the article but no, it's the actual headline. 

Seriously, it reads like it's been written by a 12 year old and yet no doubt the Mail probably still churns out smug articles about how millennials can't write proper sentences thanks to mobile phones. 

As for the story itself, it reads like a "cruel to be kind" scenario. I'm not sure if you can really read too much into it from a housing perspective. 

[Insane]

I often speak with people who have adult children in their late 20's early 30's and they say they just do not expect these adults to leave home. They understand the situation and cannot see it changing even if house prices drop massively so many are earning so little that they will still not be able to move out. 

[leonardratso]

click bait.

[jiltedjen]

9 hours ago, Rod39 said:

Articles like this make me feel like such a loser. I do feel like a poster child for Millennial failure to launch sometimes.

I should have 14k by next pay day by living out of my childhood bedroom.

I get on a suburban commuter train at 7am in the morning. Arrive back in Essex at 7pm at night. My life is a Reggie Perrin style existance of sleep, train, work and repeat.

I’m banking over £1000 a month. Paying £100 p/m in keep and losing about £350 p/m on trains.

I should have 20k by Xmas if I save really really hard and cease any discretionary spending.

My job is in central London and I’m increasingly coming round to the idea of Liverpool or Manchester where 20k goes somewhat further.

Do it for a few more years and buy a house outright.
Meet a partner who is willing to save also - double the saving.
Providing you do a useful STEM job you don't need to be in London, if its a finance job then your probably only worth near minimum wage outside of London anyway and your 'decent' wages are a bit of an illusion (poor inside and poor outside of London).
3 or 4 years goes really quickly especially when your as busy as you are, and then suddenly your looking at 60-80k maybe 100k if your get a raise during that time.

More or less what im doing and mine and my partners war-chest is looking really healthy now. You have the right 'can do' attitude. Read permanent portfolio, read Wish i could afford ones blog, Buy bitcoins lows June 2019, keep your head up, read the book "F**k it". I dont think the south-east will ever be affordable again, but plenty of nice places to live, and come January next year we have a fire-sale of leveraged BTL forced sellers.

Also have you ever thought of van-living to get rid of your commute? a few nights a week. A stealth van moved occasionally. That could mean you save an extra £350 a month and have 12 more hours a week to rest. Can have Wifi these days, decent laptop computers with batteries, kitchen etc. Flog the van on when your done, so the cost of ownership is not terrible. 

[iamnumerate]

10 hours ago, Rod39 said:

Articles like this make me feel like such a loser. I do feel like a poster child for Millennial failure to launch sometimes.

 

I should have 14k by next pay day by living out of my childhood bedroom.

 

I get on a suburban commuter train at 7am in the morning. Arrive back in Essex at 7pm at night. My life is a Reggie Perrin style existance of sleep, train, work and repeat.

 

I’m banking over £1000 a month. Paying £100 p/m in keep and losing about £350 p/m on trains.

 

I should have 20k by Xmas if I save really really hard and cease any discretionary spending.

 

My job is in central London and I’m increasingly coming round to the idea of Liverpool or Manchester where 20k goes somewhat further.

 

 

 

 

 

Don't feel too bad I know people living at home in their late 40s - they just missed the boat.

[Arpeggio]

18 minutes ago, Rod39 said:

I just wish I had made a few better life decisions. University being one of them. Even a First from the supposedly elite Russell Group means little these days in an era of mass HE. I really regret the years of lost earnings. Some of the wisest people I know decided to get a job straight out of sixth form and banked £30k by living at home for three years. What an excellent start in life.

Similar here. Good quals don't mean so much in an economy like this.

27 minutes ago, Rod39 said:

I hate to admit it but BOMAD is realistically my route to adulthood.

Don't understand this lol. You mean you're not an adult already? I hope you don't think home ownership makes you an adult.

My theory is the older you get the less you care. Younger people tend to be more self-conscious about this kind of "defining yourself as an adult" kind of stuff, it's obvious why evolutionary speaking in most species I think. I was the same, but really what I'm saying is the older you get the less you care.

Yeh perhaps if house prices merely went up with inflation since the start of this deflation cycle 30+ years ago, having your own place might be a factor, but not when 97% of the money in the economy is made from thin air! Hope this place helps put things in perspective for you.

59 minutes ago, Rod39 said:

I’ve found I job I like and I’ve settled in well. I see this job as important for my future.

Well that's motivation then.

1 hour ago, Rod39 said:

I hate to admit it but BOMAD is realistically my route to adulthood. Grandad recently passed on following a 27 year retirement on a civil service pension. If you want a definition of intergenerational inequality there is a decent one.  Parents will by the end of the year inherit c. 200k and being mortgage free already they might struggle to make use of it all. As one of three siblings they could give us 50k each and keep 50k for themselves…I’m waiting for them to broach the subject.

Yes, I would wait and see. If nothing comes of it for you then don't let it mess up your relationships. Living with ones parents is a fortunate position in light of the current UK non-work based rent seeking feudal lazy f**kwit spiv economy. Regardless, hopefully they are not debt junkie spend spend spend types.

Personally I think BOMAD towards buying a house is crazy in the current situation. There's lots of other things you can do with money. If I put 50k on Black Rock Gold mining when I did I'd have made that into 90k (I only put 2k on it and made it into £3600). That was an ISA. Also a SIPP is a no brainer. I'm not an expert I just occasionally look to buy managed funds when they are cheap.

That said, even a basic cash ISA with below inflation interest will give you returns compared to buying peak bubble house (and I only make the comparison due to how others have made housing into a financial instrument).

[Maximus Skepticus]

Yup, 3 degrees...not employable in last 10 years, start a business even in a harsh economy. All depends on sector, luck, attitude, contacts etc. F'ck em....retiring from a 9-5 is just the start of the end, many dont last long...regardless of cash, property, and wealth. 

21 minutes ago, Arpeggio said:

Similar here. Good quals don't mean so much in an economy like this.

 

[Mikhail Liebenstein]

On 22/05/2018 at 18:43, rollover said:

Yes good point.

I had colleague, his son played computer games all night, slept till lunch time and haven't done much round the house.

I thought that was normal for Millennials?

[Pop321]

23 hours ago, iamnumerate said:

Don't feel too bad I know people living at home in their late 40s - they just missed the boat.

Huge sympathy for the younger generation. But I am late 40's and to have missed the boat either required apathy, carelessness, stupidity or some genuine bad luck eg divorce. 

Sounds harsh but that boat has past about 5 times for those aged 49. 

10 hours ago, Rod39 said:

Thanks. I’m certainly  less of a loser than the gentlemen in the article. I can’t help but think the publicity is not going to help his job hunt. It can be an awful catch-22 trying to find a job when you are unemployed.

I just wish I had made a few better life decisions. University being one of them. Even a First from the supposedly elite Russell Group means little these days in an era of mass HE. I really regret the years of lost earnings. Some of the wisest people I know decided to get a job straight out of sixth form and banked £30k by living at home for three years. What an excellent start in life.

I hate to admit it but BOMAD is realistically my route to adulthood. Grandad recently passed on following a 27 year retirement on a civil service pension. If you want a definition of intergenerational inequality there is a decent one.  Parents will by the end of the year inherit c. 200k and being mortgage free already they might struggle to make use of it all. As one of three siblings they could give us 50k each and keep 50k for themselves…I’m waiting for them to broach the subject.

Maybe I’m a typical London obsessed Millennial but my new job is by the BT Tower/Tottenham Court Road. I’ve found I job I like and I’ve settled in well. I see this job as important for my future. Even flats in Essex can be 130k. It is just madness.

 

I hope a crash comes and you can benefit. It needs to and you deserve some fairness for your labours. 

I am late 40's and all our monies to be inherited from my parents and parents in law go straight to our children in the way you describe. £50k for me is a fantastic bonus that makes things easier and I  could genuinely spoil myself on things I have gone without. But for my kids it's a lifeline and transformational...I wouldn't deny them that. My choice and I don't impose that in your parents....but I hope they see it themselves. Too many well off boomers with fat pensions, debt free houses and then a £200k inheritance. 

Good luck. 

[regprentice]

My neighbour has two kids in their mid 20s still at home in a 3 bed ex council semi. The daughter has also moved her boyfriend in. The daughter has had two miscarriages so is obviously trying for a child, while living as a couple in her childhood bedroom. Might be planning to 'force' the council to house them as a young family but can't see it happening. Seems an utterly miserable existence.

[iamnumerate]

1 hour ago, Pop321 said:

Huge sympathy for the younger generation. But I am late 40's and to have missed the boat either required apathy, carelessness, stupidity or some genuine bad luck eg divorce. 

Sounds harsh but that boat has past about 5 times for those aged 49. 

I hope a crash comes and you can benefit. It needs to and you deserve some fairness for your labours. 

I am late 40's and all our monies to be inherited from my parents and parents in law go straight to our children in the way you describe. £50k for me is a fantastic bonus that makes things easier and I  could genuinely spoil myself on things I have gone without. But for my kids it's a lifeline and transformational...I wouldn't deny them that. My choice and I don't impose that in your parents....but I hope they see it themselves. Too many well off boomers with fat pensions, debt free houses and then a £200k inheritance. 

Good luck. 

My friend did not have enough money to buy in 94 and decided to save and prices kept rising faster than they could save!