Thursday, July 25, 2013

All the countries wealth is being sucked into housing (tulips), to maintain high prices

First-time buyers get £17,000 help from the Bank of Mum and Dad: Anxious parents eating into retirement pots to help children get on property ladder

Estimated £2billion is being spent on property market by anxious parents; Housing charity Shelter raises concerns about strain on parents' funds; A quarter of parents are cutting their spending to help out their children.

Posted by hpwatcher @ 06:59 AM (2129 views)
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14 thoughts on “All the countries wealth is being sucked into housing (tulips), to maintain high prices

  • It’s madness!

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  • mark wadsworth says:

    Splendid.

    So far, Homey propaganda has had the elderly parents firmly onside, bribed with their lovely aper house price gains and to hell with their children, but now the Homey elite are trying to gouge what they can out of the elderly parents as well, see also “Mortgage equity withdrawal” and “equity release”.

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  • happy mondays says:

    No hpwatcher, This is Madness!

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  • happy mondays says:

    No hpwatcher, This is Madness!

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  • @happy mondays – At least back in those days you didn’t have to work to be poor! Secure accommodation, no matter how shitty is a thing of the past for millions.

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  • Thank you happy mondays – not sure I would call it fun though.

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  • happy mondays says:

    Khards – agreed, i grew up on a council estate in south Maidstone,we were poor but only my dad worked & my mum looked after us full time, however my parents were fortunate as they got to buy from the council (maggies scheme) that same house is valued at about £180,000 at today’s prices! That is Madness!

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  • happy mondays says:

    hpwatcher – House of fraud & frustration would be more apt!

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  • “A quarter of parents…”

    Only a quarter? As the younger generation is reduced to slave labour, their parents hand over any savings they’ve made in the past 40 years of “productive employment”.

    Many of the older generation (therefore) resents anyone on benefits while they cough up to support their kids’ mortgage. The country is conveniently divided, for the politicians’ benefit. Now they can be “farmed”. When some of them speak, the older generation discusses:

    1. The incompetence of Parliament, while being out of touch.
    2. The “manipulation game” being played on the country.

    The rest are eagerly awaiting the next episode of Strictly or the Voice.

    We are trapped…how do we escape, legitimately? Come back Guy Fawkes, all is forgiven!

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  • There will be a point where many of the younger generation give up because their aspirations are so far away it seems like a dream.

    Graduate uni with 50k of debt then buy an average 250k house all on a salary of £30k pre-tax. For many graduating in the next few years the starting salary of £30k will be the equivalent of working for Mc.Donalds in the 90’s. If the gap between earnings and aspirations is so wide then people will just not bother.

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  • mark wadsworth says:

    As Albert Einstein never said, “Madness is posting the same video twice and expecting different results”.

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  • Funny, if I get a £17k bonus (one can dream…) the gvmt takes 42% of it away, but if someone gets an unearned £17k from their parents, they take nothing. Since the UK operates taxation on an individual basis, the argument that the parents paid tax on it (which they didn’t if it was a result of house price inflation) doesn’t really hold water.

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  • happy mondays says:

    Mw – Lol – He also said “Two things are infinite: the universe and human stupidity; and I’m not sure about the the universe.” As i get older & some what wiser i can see exactly what he means & this whole housing sham sums it up!

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