Sunday, September 30, 2012

Again

First-time buyers increasingly rely on the bank of mum and dad

I suppose I did see this and post, but the bank of mum and dad .... too too much. Even the Guardian readership are not so dullwitted. Or are they ! Yes they are. http://www.guardian.co.uk/money/2010/aug/20/bank-of-mum-and-dad-bites-back http://www.guardian.co.uk/money/2009/feb/25/parental-debt-loans-to-children etc..

Posted by stillthinking @ 05:02 PM (3781 views)
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4 thoughts on “Again

  • Assets over income.

    Ad infinitum.

    What can go wrong?

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  • das Guthaben ÃœBER ALLES!

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  • And how many FTBs are really buying for the first time? Shelter reckons a lot of those ‘FTBs’ who buy without parental help are people with some equity from previous purchases, some of them returnees from abroad. How can most young people save for a deposit if they’re renting privately. often spending over half their income in rent?

    Money flows from young to old, from workers to those with assets who are repaying mortgages. The way to own property is through inheritance, a system that used to be called feudalism.

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  • Of course, this just brings forward their inheritance.

    An economic version of cannibalism.

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