Want your own home, have wealthy parents

[happyguy]

5 hours ago, iamnumerate said:

5 hours ago, longgone said:

Are these the same special people who conduct there own shipping service over the channel in rubber dinghy`s in search for a better life however they were in Europe many thousands of miles ago already. 

yes just stop paying housing benefit full stop

 I think they probably would be the same special people

100% +1

2 hours ago, rockerboy said:

How about this way - Each child is given their first house with a huge cash injection from their parents.

Thereafter, each child has to save the equivalent of the mortgage into a savings fund for 25 years, with that fund split equally to each of their children to buy their first house when they need it etc

Yes so how that that screw you exactly? 

Do you know the financial situation of all of these people and their kids? 

Do you think then that parents have no right to spend their money any way they choose to?

I work, I earn money, I will choose how I spend that money that i work for.  

[happyguy]

2 hours ago, rockerboy said:

How about this way - Each child is given their first house with a huge cash injection from their parents.

Thereafter, each child has to save the equivalent of the mortgage into a savings fund for 25 years, with that fund split equally to each of their children to buy their first house when they need it etc

Genuine question? If your parents offered you a huge deposit to put down on a house would you accept it, or would you say "thanks but that is against my principles?"

Honest question. Not trolling. 

[Trump Invective]

4 minutes ago, happyguy said:

Genuine question? If your parents offered you a huge deposit to put down on a house would you accept it, or would you say "thanks but that is against my principles?"

Honest question. Not trolling. 

I think that is a good question. My answer at the moment would be "thanks, but Im not prepared to buy using your money at these prices", or I would try to move to a relatively cheap area to make sure their deposit would cover as much of the cost as possible, to limit the mortgage required. Whether that is sensible or not I have no idea!

[doomed]

11 hours ago, localhero1983 said:

It is a difficult one, it's instinctive to do your best for you kids in a scary world. So many Labour politicians will preach to you about the unfair advantages of private education and then go onto put their kids in those very some places. Yes rich parents will help their kids , but government has to make it so that somethings money cannot buy. Nobody has much of a problem with the rich over feeding their spoilt brats and giving them obscene over indulgences like cars and holidays etc, but we have to make it harder somehow for them to screw us over the essentials like housing etc.

No.

I am all for reigning in the financial sector with their ridiculous money print and financialisation of everything. You simply can not stop parents helping their children getting ahead.

[rockerboy]

On 05/12/2018 at 16:32, happyguy said:

100% +1

Yes so how that that screw you exactly? 

Do you know the financial situation of all of these people and their kids? 

Do you think then that parents have no right to spend their money any way they choose to?

I work, I earn money, I will choose how I spend that money that i work for.  

 

23 hours ago, Trump Invective said:

I think that is a good question. My answer at the moment would be "thanks, but Im not prepared to buy using your money at these prices", or I would try to move to a relatively cheap area to make sure their deposit would cover as much of the cost as possible, to limit the mortgage required. Whether that is sensible or not I have no idea!

When a parent provides for their children to buy a house early, they also provide for their grandchildren to buy early if the child follows what the parent did.

Also, when ever I'm asked "Does Money make you happy?", I always think about someone I know having to pay for an expensive operation (because the NHS waiting list was 18 months). Now I can fully understand if an adult wants to say "No, its not fair, we all should wait our turn" etc, but this operation wasn't for an adult who could stumble on by with minimal problems,  it was for a 4 year old who couldn't hear in school.

Now, if that 4 year old didn't have the operation, that 4 year old would be deaf (handicapped) for 18 months more than she needed to be at a critcal stage of her development. It would be 18 months of her not being able to properly hear the teacher speaking and not being able to learn efficiently.

That's 18 months of being different from her peers (exclusion and bullying?) and her education deficit could affect her progress (reading and writing?)

In summary, when someone is young, they don't know how their future will turn out, but their parents do know how their future did turn out (they raised a child, bought a house etc).

I'm just following the pattern my parents passed to me, and hoping that it passes from me onto my children, to show my children the wisdom of forward provision.   

From my POV,  I hope that those that say "I will choose how I spend my money"  do so with "forward planning" because if they don't, the vast majority are condemning  their offspring to servitude in a future of cold harsh austerity.

We are all going back to  time where wealth is all important, where future generations are poorer than than the one before.     

Just my 2p - that's what I'm doing.

 

Edited December 6, 2018 by rockerboy

[happyguy]

20 hours ago, Trump Invective said:

I think that is a good question. My answer at the moment would be "thanks, but Im not prepared to buy using your money at these prices", or I would try to move to a relatively cheap area to make sure their deposit would cover as much of the cost as possible, to limit the mortgage required. Whether that is sensible or not I have no idea!

That is a fair point and very understandable. 

1 hour ago, rockerboy said:

When a parent provides for their children to buy a house early, they also provide for their grandchildren to buy early if the child follows what the parent did.

If the child wants to yes.  What is wrong with that option? I do not see how  you think its screws you. If my grandchild wants to buy a house or not buy I do not se how that hurts anyone else.  I understand that not everyone has the good fortune to have parents who can help financially but that would be the situation if those who are lucky enough to be able to help their kids could not do so. 

Also it is a natural inclination for parents to want to help their own kids I do not see how you can stop that sentiment and familial emotion

1 hour ago, rockerboy said:

Also, when ever I'm asked "Does Money make you happy?", I always think about someone I know having to pay for an expensive operation (because the NHS waiting list was 18 months). Now I can fully understand if an adult wants to say "No, its not fair, we all should wait our turn" etc, but this operation wasn't for an adult who could stumble on by with minimal problems,  it was for a 4 year old who couldn't hear in school.

Now, if that 4 year old didn't have the operation, that 4 year old would be deaf (handicapped) for 18 months more than she needed to be at a critcal stage of her development. It would be 18 months of her not being able to properly hear the teacher speaking and not being able to learn efficiently.

I understand and that is  sad tale.  Given that you think it is wrong for parents to give their kids money for a house as you think it is unfair - is it not also unfair for the parents of that poor deaf kiddie to have paid for an operation when other parents do not have the money to do the same.  Surely by that logic they should just wait their turn?

I note that you did not reply to the question of whether or not you would accept money from your family as a deposit for a house? Again honestly just curious?

[rockerboy]

1 hour ago, happyguy said:

I note that you did not reply to the question of whether or not you would accept money from your family as a deposit for a house? Again honestly just curious?

I did accept money myself - and I hope to repay it forward.  I certainly do not think it is wrong for parents to give money to their offspring, if anything I think we are all entering a period where parents will have to continue providing for their offspring well into their 20s .

I guess you're younger than me?

The tale about private health care is what I really think money is - whilst it can never guarantee happiness, it can certainly pay to take things away that cause unhappiness.

In many ways, helping someone to own their own home early, can prevent potential unhappiness and anger in someone that 15 years later feels they "missed the boat" by renting....and no - I don't think owning your own home is great - but I do think that wishing to own a home when you can't possibly see yourself ever doing so is really really sh*te - and that is unhappiness - a feeling that it was partially one's own fault because one didn't buy "at the right time".

That feeling of unhappiness could also be that when married, the family can never really be sure where they can live - it is always at the descretion and for the profit of the landlord - in other words serfdom.

Whilst the question of timing is crucial if you want to make money on a house purchase, one has to accept that house prices only ever go up in the long term. All that changes is the fiat currency that's used to buy a house is continually debased making cash worth less every year

What's the point? One might as well get a house at any time (within reason). but only a fool overpays

Edited December 6, 2018 by rockerboy

[happyguy]

18 hours ago, rockerboy said:

I guess you're younger than me?

The tale about private health care is what I really think money is - whilst it can never guarantee happiness, it can certainly pay to take things away that cause unhappiness.

I agree 100%

18 hours ago, rockerboy said:

What's the point? One might as well get a house at any time (within reason). but only a fool overpays

It depends I paid probably 10k more than my house is worth a few years ago but I did not care as it was the house I wanted in the area I wanted 

I live in a home not an investment

if prices drop by 80% I could not care less I am not planning to move for many years if ever

if I do and prices drop 80% the next house I buy will also cost 80% less

you said that anyone using BOMAD screws you yet you used BOMAD and you still have not said how someone else using BOMAD screws you? 

[ucnvpe0]

BOMAD is a good gesture and helps to keep wealth within a family. BOMAD is partly the symptom of a system where 'work doesn't pay'. Everyone is trying to play the system to their advantage. 

For example, a BTLer will try and build a 'business empire' for their kids. In contrast, someone tax credits will only work the minimum required to be eligible. 

[iamnumerate]

3 hours ago, happyguy said:

I agree 100%

It depends I paid probably 10k more than my house is worth a few years ago but I did not care as it was the house I wanted in the area I wanted 

I live in a home not an investment

if prices drop by 80% I could not care less I am not planning to move for many years if ever

if I do and prices drop 80% the next house I buy will also cost 80% less

you said that anyone using BOMAD screws you yet you used BOMAD and you still have not said how someone else using BOMAD screws you? 

Good attitude but if you don't have a lifetime mortgage then negative equity could affect you even if you never move.  The ideal scenario for someone buying would be for prices to remain constant in cash terms but decrease in real terms so your ability (and everyone else's) to buy improves but you don't have problems with credit etc.

This is not very likely of course and would not be good for people who are priced out.

[maverick73]

All it shows is a political system engineered not to help but to leech.

[Arpeggio]

If the average worker could afford the average house then I don't think many would give a s*** about someone living in a palace off BOMAD.

On the back of the last 2 council news magazine we get there's a charity appeal style UK advert on the back. A bit like "These people with this disability / condition need help, please support" or "Help the children of this country" etc.

Anyway, the the charity cause on this back page advert is.........................young people. Yes young people.

Saying that being able bodied with years ahead of you is now a disability / disadvantage without being sarcastic is now the case. The advert is basically something like "Can you help a young person, take on a young person in your home".

[highcontrast]

How odd (i.e. suspicious), the original article has just re-appeared on the BBC's main web page again! Trying to ram this message home or something? Just exactly how corrupt/shady/biased are the BBC?

https://www.bbc.co.uk/

https://www.bbc.co.uk/news/business-46430047

[btl_hater]

46 minutes ago, deadlyavenger said:

How odd (i.e. suspicious), the original article has just re-appeared on the BBC's main web page again! 

I don’t see it...

[highcontrast]

 

Check the date.  I'm signed into my BBC account, I wonder if they are tailoring articles in the same way facebook/ad pop ups do??? Either way it's odd an old article has re-appeared?

Edited December 20, 2018 by deadlyavenger