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The Parent Trap

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It's the Boomers' curse. Lots of housing equity but kids who can't afford to leave home. Of cause they could always release some of that equity and gift a deposit (as many thousands no doubt have) but then what about the pension? It just goes to show how the only real winners from the housing bubble are the money lenders.

Whilst it does serve to demonstrate the damage out of control house prices can do to a society, these kids living at home and saving are in fact being sensible. I was in France recently and, looking at house prices, realised that if it all went badly wrong for us in the UK, we could buy a nice family house out there for cash and start a new debt-free life. There really is no reason to buy yourself into debt slavery, and many intelligent young people know this.

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it cant be great living with your folks at the age of 25+. But these people cant afford to buy a home, and renting would mean they wouldnt be saving much for a deposit, for example- to rent a 1 bed/studio flat in london will set you back at least 500- then theres all the extras and i guess these people are average earners- so 5-700 a month would be a big chunk of their monthly income.

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Boomerang Kids

http://en.wikipedia.org/wiki/Boomerang_Generation

http://www.parship.co.uk/common/main/publi...ch/June2006.pdf

Far more adult children stay home today because it is often quite pleasant to live with one's parents. This is a break – a positive and significant break – with the past

http://www.worldnetdaily.com/news/article....RTICLE_ID=27919

"You work and work and work to get this degree, and now you have it, and in my case you're delivering pizzas to your old high school,"

http://www.cbsnews.com/stories/2006/10/16/...in2090521.shtml

http://findarticles.com/p/articles/mi_m126..._v20/ai_7643409

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I'm slightly cynical about this, I think there are shades of the rich get richer. I notice with these stories the KIPPERS always mention mummy and daddy owning in Islington or Kensington. I suppose its OK if your parents live in London in a nice big house where you have your own bedroom, it isn't very practical elsewhere. Many of us commoners and northern oiks had to move away to persue any sort of professional career (or find five minutes peace).

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It's the Boomers' curse. Lots of housing equity but kids who can't afford to leave home. Of cause they could always release some of that equity and gift a deposit (as many thousands no doubt have) but then what about the pension? It just goes to show how the only real winners from the housing bubble are the money lenders.

Whilst it does serve to demonstrate the damage out of control house prices can do to a society, these kids living at home and saving are in fact being sensible. I was in France recently and, looking at house prices, realised that if it all went badly wrong for us in the UK, we could buy a nice family house out there for cash and start a new debt-free life. There really is no reason to buy yourself into debt slavery, and many intelligent young people know this.

C'est vrai ! :lol:

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I have to admit I'm a bit jealous of my friends who live with their parents in London. Sure it's a bit of a pain but I was calculating it once and figured I'd save at least 800 month if I was able to do what they're doing. Oh well, I consoled myself by thinking that even if I multiplied 800 by 12 it'd "only" give me 9,600 extra a year which isn't going to put a massive dent into the deposit on a place in London. hmm ok it doesn't really work as consolation when I think what else I could buy with that money...

Edited by Eriadus

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I'm slightly cynical about this, I think there are shades of the rich get richer. I notice with these stories the KIPPERS always mention mummy and daddy owning in Islington or Kensington. I suppose its OK if your parents live in London in a nice big house where you have your own bedroom, it isn't very practical elsewhere. Many of us commoners and northern oiks had to move away to persue any sort of professional career (or find five minutes peace).

I agree, it is definitely the wealthier families' kids who have more options, but that is just the Darwinian nature of boom and bust capitalism. The "financially weak" get shafted.

This is all very well in the stock market or bond market etc., but it does make you wonder whether it really is appropriate to allow the market in peoples' homes to be conducted like this.

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I agree, it is definitely the wealthier families' kids who have more options, but that is just the Darwinian nature of boom and bust capitalism. The "financially weak" get shafted.

This is all very well in the stock market or bond market etc., but it does make you wonder whether it really is appropriate to allow the market in peoples' homes to be conducted like this.

Actually there is another sociological thing in this, it reminds me a lot of the argument that women entering the workplace is relatively new thing. True for the middle-class, not true for the workers. A generation or two ago in working class families the kids would leave school ASAP to bring money in and then stay in the family home until a relatively advanced age as well. The difference was they moved out around the time the household could become financially independent from their income and not the other way round. This is perhaps where the idea of mum looking after adult male son a bit indulgently comes from, but I'm not sure it was 100% optional when work meant down the pit or in the steel works. As a lot of nominally ball-crushing feminist critics have pointed out, it was pretty damn hard for a man to work in those occupations without a support network given what the conditions physically inflicted upon the worker. A chap without a wife needed someone to prop him up, and that would typically be mum or failing that a female sibling/extended family. Not really relevant to today's office or call centre job though.

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Guest Charlie The Tramp
A chap without a wife needed someone to prop him up, and that would typically be mum or failing that a female sibling/extended family.

What, real men no longer exist today, I say bring back National Service. :D

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Actually there is another sociological thing in this, it reminds me a lot of the argument that women entering the workplace is relatively new thing. True for the middle-class, not true for the workers. A generation or two ago in working class families the kids would leave school ASAP to bring money in and then stay in the family home until a relatively advanced age as well. The difference was they moved out around the time the household could become financially independent from their income and not the other way round. This is perhaps where the idea of mum looking after adult male son a bit indulgently comes from, but I'm not sure it was 100% optional when work meant down the pit or in the steel works. As a lot of nominally ball-crushing feminist critics have pointed out, it was pretty damn hard for a man to work in those occupations without a support network given what the conditions physically inflicted upon the worker. A chap without a wife needed someone to prop him up, and that would typically be mum or failing that a female sibling/extended family. Not really relevant to today's office or call centre job though.

Have to agree with most of this. All of my uncles lived at my grandmothers until they got married at around 25-27 years old and they all had to give her their 'keep' which amounted to about a third of their wages. I lived at home for about 4 years after getting my first job and also paid for the 'privelage'. I decided to reurn to college shortly after I rented my first flat and ended up spending quite a lot of time back at mums, particularly at dinner time. :P

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it cant be great living with your folks at the age of 25+. But these people cant afford to buy a home, and renting would mean they wouldnt be saving much for a deposit, for example- to rent a 1 bed/studio flat in london will set you back at least 500- then theres all the extras and i guess these people are average earners- so 5-700 a month would be a big chunk of their monthly income.

My girlfriend is 26 and she lives at home, mainly because of the quality of life as she lives in Marlow and her bedroom is as large as a small one bedroom flat so to be honest it makes sense. She took me to see Motley Crue last week so I am not complaining. To be honest in and around the area she lives she could not afford anything anyway.

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Have to agree with most of this. All of my uncles lived at my grandmothers until they got married at around 25-27 years old and they all had to give her their 'keep' which amounted to about a third of their wages. I lived at home for about 4 years after getting my first job and also paid for the 'privelage'. I decided to reurn to college shortly after I rented my first flat and ended up spending quite a lot of time back at mums, particularly at dinner time. :P

Well, both my mother and my father lived at home until they got married and bought a 3-bedroom house together at the age of 30 - this was in the mid-1970s. It certainly was never suggested to either of them that they should move out in their early 20s and live on their respective tods in some dismal bedsit or flat, which seems to be dictated as "the norm" these days.

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Whilst it does serve to demonstrate the damage out of control house prices can do to a society, these kids living at home and saving are in fact being sensible. I was in France recently and, looking at house prices, realised that if it all went badly wrong for us in the UK, we could buy a nice family house out there for cash and start a new debt-free life. There really is no reason to buy yourself into debt slavery, and many intelligent young people know this.

Yeah, but making a life for yourself in France is easier said than done. But lucky you if you already have the lingo and have a portable trade. "selling houses abroad" featured a number of Brits moving back to the UK when they realsied that living abroad isnt actually a holiday and that life is competative and tough anywhere. Oh, and French kids live with their parents for a while too. (I have family there myself).

If high-fliers are living at home then they should really be able to buy their way into the property ladder rather quickly. Really they should be saving 10s of thousands a year. Even I managed that kind of level once I moved out from my folks place and im no massive earner.

With those kinda deposits they should be able to buy no probs. In fact my dad lived at home until he could afford to move out back in the late 50s early 60s. This was normal, infact he moved straight from his parents and in with his new wife (aka mum!). Society has changed, its normal now to want to live on ones own for a time but sadly not everyone can afford to do so. Did anyone really expect these changes in social trends to have been accommodated so easily?

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Oh, and French kids live with their parents for a while too. (I have family there myself).

If someone said they were thinking of moving to Venus, I'm sure you'd announce that you have family there too.

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