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localhero1983

Want your own home, have wealthy parents

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1 hour ago, btl_hater said:

My own anecdotal experience absolutely  confirms this trend. The majority of home owners under 40 I know have had considerable help from bomad.

This is not new, I have never come across a house purchase that was not this, the people without  bomad assistance used to purchase flats 

Edited by prozac

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37 minutes ago, prozac said:

This is not new, I have never come across a house purchase that was not this, the people without  bomad assistance used to purchase flats 

Absolute ********. I bought my first house, a 3-bed semi detached in 1999 for 2 * my wage in Lancashire, with a 5% deposit I had saved. The last ~18 years are the anomaly.

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It is not everyone else’s fault if your parents were feckless. People may not like it but parents have the right to help their own children get ahead. I mean what is the alternative?

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1 minute ago, doomed said:

It is not everyone else’s fault if your parents were feckless. People may not like it but parents have the right to help their own children get ahead. I mean what is the alternative?

Mine weren't feckless they just all died young , same as grandparents 

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2 minutes ago, Nabby81 said:

Mine weren't feckless they just all died young , same as grandparents 

Unlucky. Do you support the right of parents to support their children in any way that would give them an advantage over others?

Edited by doomed

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9 minutes ago, doomed said:

It is not everyone else’s fault if your parents were feckless. People may not like it but parents have the right to help their own children get ahead. I mean what is the alternative?

It's not my parent's fault where they were born. That doesn't mean they were feckless.

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2 minutes ago, Aidan Ap Word said:

It's not my parent's fault where they were born. That doesn't mean they were feckless.

 

7 minutes ago, doomed said:

Unlucky. Do you support the right of parents to support their children in any way that would give them an advantage over others?

 

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2 minutes ago, doomed said:
  4 minutes ago, Aidan Ap Word said:

It's not my parent's fault where they were born. That doesn't mean they were feckless.

 

  9 minutes ago, doomed said:

Unlucky. Do you support the right of parents to support their children in any way that would give them an advantage over others?

 

I fully support parents supporting their children. I just wish that so much of parents' effort did not have to be spent on supporting their housing needs ... I wish *that* energy could be spent in parental support for items higher up Maslow's hierarchy - not least of which helping their kids to be better relational persons and citizens and creative value adders.

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6 minutes ago, Aidan Ap Word said:

I fully support parents supporting their children. I just wish that so much of parents' effort did not have to be spent on supporting their housing needs ... I wish *that* energy could be spent in parental support for items higher up Maslow's hierarchy - not least of which helping their kids to be better relational persons and citizens and creative value adders.

You can not force altruism. People must be free to choose what they do with their own resources as anything else is tyranny.

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9 minutes ago, doomed said:

You can not force altruism. People must be free to choose what they do with their own resources as anything else is tyranny.

I cannot force it, true.

But I can demonstrate it in my life. At least, I intend to.

I can do that better if I don't have to work like a drone in order for my children to be able to afford a roof over their heads.

A dad who has a better work/life balance because money is not so desperately needed is  - IMO, anyway - going to find it easier to be a better dad.

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40 minutes ago, doomed said:

It is not everyone else’s fault if your parents were feckless. 

Bit of a leap to characterize parents who have not saved up £20-60k to give to their (often more than one?) children as feckless. Saving upwards of £100k is not easy and often the wealth the parents possess is itself inherited.

If houses were allowed to be priced sensibly then there would be no need for mammoth deposits and young people could save a reasonable deposit themselves.

Your response also leads to the likely relevant question: which category do you fall under, a child who received a payout from BOMAD, or are you part of BOMAD yourself? 

Edited by btl_hater

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2 hours ago, dpg50000 said:

Absolute ********. I bought my first house, a 3-bed semi detached in 1999 for 2 * my wage in Lancashire, with a 5% deposit I had saved. The last ~18 years are the anomaly.

Very true.  I know people who bought without a single penny from their parents, before BBC (Blair Brown Cameron) of course.

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53 minutes ago, doomed said:

It is not everyone else’s fault if your parents were feckless. People may not like it but parents have the right to help their own children get ahead. I mean what is the alternative?

What on earth are you talking about?

People should be able to provide houses for themselves, without any assistance from anyone.

Even other animals can manage this.

It’s got nothing to do with whether parents should help their children, and everything to do with turning homes into treasure to profit the feckless few.

Edited by BorrowToLeech

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20 minutes ago, btl_hater said:

Bit of a leap to characterize parents who have not saved up £20-60k to give to their (often more than one?) children as feckless. Saving upwards of £100k is not easy and often the wealth the parents possess is itself inherited.

If houses were allowed to be priced sensibly then there would be no need for mammoth deposits and young people could save a reasonable deposit themselves.

Your response also leads to the likely relevant question: which category do you fall under, a child who received a payout from BOMAD, or are you part of BOMAD yourself? 

I bought without help but fully intend to help my children financially to give them a head start if circumstances allow.

I agree house prices are insane and should be lower.

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29 minutes ago, Aidan Ap Word said:

I cannot force it, true.

But I can demonstrate it in my life. At least, I intend to.

I can do that better if I don't have to work like a drone in order for my children to be able to afford a roof over their heads.

A dad who has a better work/life balance because money is not so desperately needed is  - IMO, anyway - going to find it easier to be a better dad.

Well if other parents decide to work like a drone to give their children a financial head start over your own children it is something that you have to accept.

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14 minutes ago, BorrowToLeech said:

What on earth are you talking about?

People should be able to provide houses for themselves, without any assistance from anyone.

Even other animals can manage this.

It’s got nothing to do with whether parents should help their children, and everything to do with turning homes into treasure to profit the feckless few.

Yes and they can currently. It is just that the more desirable property is more difficult to acquire so some parents help their children. There should be no issue with this.

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7 minutes ago, doomed said:

Yes and they can currently. It is just that the more desirable property is more difficult to acquire so some parents help their children. There should be no issue with this.

Even on a good wage there are problems with acquiring undesirable property now days in Greater London.

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1 hour ago, Aidan Ap Word said:

I fully support parents supporting their children. I just wish that so much of parents' effort did not have to be spent on supporting their housing needs ... I wish *that* energy could be spent in parental support for items higher up Maslow's hierarchy - not least of which helping their kids to be better relational persons and citizens and creative value adders.

Nice to bring up good old Maslow. Thee 2nd level at the base is Safety including of employment, of health but also interestingly of property. The theory as you know states that without that base levels being fulfilled you never get to Esteem and Self actualisation. Its not a pick and mix its a pyramid. Not sure they are mutually exclusive I spent money on the items below and love / time on the higher levels - different currencies

So helping with property is entirely congruent with that as is private health care and private schooling. Parents can help with self esteem of course but if your living In a HMO at 35 I would suggest might be wearing a bit thin.

Edited by GregBowman

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3 hours ago, dpg50000 said:

Absolute ********. I bought my first house, a 3-bed semi detached in 1999 for 2 * my wage in Lancashire, with a 5% deposit I had saved. The last ~18 years are the anomaly.

Either your wages were really high or house prices in Lancashire are very low

your rule does not apply to london 

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26 minutes ago, doomed said:

Well if other parents decide to work like a drone to give their children a financial head start over your own children it is something that you have to accept.

Except that if the gubbermint wasn't constantly fiddling the market for property would actually work and prices would be sensible then a sensible amount of effort would be required to house ourselves and our children.

Drone mentality is a symptom not a cause.

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19 minutes ago, GregBowman said:

Nice to bring up good old Maslow. Thee 2nd level at the base is Safety including of employment, of health but also interestingly of property. The theory as you know states that without that base levels being fulfilled you never get to Esteem and Self actualisation. Its not a pick and mix its a pyramid. Not sure they are mutually exclusive I spent money on the items below and love time on the higher levels - different currencies

So helping with property is entirely congruent with that as is private health care and private schooling. Parents can help with self esteem of course but if your living In a HMO at 35 I would suggest might be wearing a bit thin.

Just as a note: Brought up "good old Maslow" just as a short-hand for stating that my children have other needs and I want to provide safe context for them to grow and mature in other things as well as housing and security and safety ...  because my resources for caring and providing for my children are limited ...

It is by no means unique to me that I could go and work for a dubious organisation in the city for serious wads of cash (or, at least, a lot more than I get where I am) ... and have more than enough to fund deposits for them ... but have contributed nothing to my children in the other things that count.

Sitting on a train in a commuter-daze is not good parenting - even if it does mean they don't have to scrape for a deposit to rent some moldy flat from the Wilsons. Yes, that's hyperbole for illustration purposes only.

 

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  • 150 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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