Quote:
Originally Posted by richw
Hmm, I think that 40 years ago, over 20k in savings would be unheard of (round here!).
It get the impression that the older generations (who have done well with property and pensions) simply don't understand how bleak it is for someone in their 20s. I appreciate that some need a kick up the backside and to drop their PCP cars, iPhones, coffees, gym subs etc. But the housing numbers are way out... A 20k deposit would be good (hard with a 50k student debt!) but to borrow three times your earnings would give you a bit over 100k for an average job... But an average house is over 2.5 times this amount.
I notice with 'refugees' that those who virtue signal the most tend to not be impacted. I find it hard to see how the UK is their first safe country.
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I think the point I was trying to make is that people don't have the savings to start with. If you are trying to get a house in London, god help you. If you are trying to get a house in some other parts of the country and I don't mean in the middle of now where with no transport links etc it should not be a problem, 3 bed semi under £180,000.
Lets introduce the bank of mum and dad, for some the bank is there, for others it is not. I know a few people that have inherited, one couple gave their son a house they inherited, another has nothing left of £250,000, their son did not benefit, the money was just spent.
macafee2