Originally Posted by Toy Soldier (Post 11040030)

Can I point out that the bit in bold is not mainly because parents have more money available to help now... it's mainly because it is so much harder to do it without help. Average house prices were something like 3 to 4x average income in the 80's, now they're 10x average income. 5% deposits were introduced because so few people could realistically save 10% of the huge asking prices. Parent=guarantor mortgages were developed because so many young people have had their credit ratings (which did not even exist in the same way 30 years ago) utterly destroyed by persistent debt.

You've taken the "more people get loans from their parents" and taken it as a given that the reason for that is there being more help abundantly available from parents - rather than considering that it might be because more people NEED that help and can't obtain enough finance without it.

Originally Posted by Livia (Post 11040031)

I was talking about buying houses with my Mum yesterday. When she and my Dad married they lived with my Great Grandmother for a few years. They were both in fairly low paid jobs and didn't actually own a house until they retired, like many working class people of their generation. They did save for a deposit at one time and went without every luxury to do so.

Originally Posted by Cherie (Post 11040036)

I have done nothing of the sort I was pointing out the different forms of help available today, and was also disabusing the notion that the bank of Mum and Dad is a fantasy

Originally Posted by Cherie (Post 11039816)

the other thing more prevalent now is the bank of Mum and Dad

there was no bank back in the day ...sigh

kids now benefit from their parents buying their properties either in their lifetime or when the parents sadly die

Originally Posted by Toy Soldier (Post 11040039)

You were heavily implying that things are easier for people today because they have access to "the bank of mum and dad" suggesting it as a "perk" that people in the past "had to do without", rather than framing it as (more accurately) a sad reflection of the fact that it's actually much harder for hardworking adults to have the things previous generations did without relying on family to help them get there.

You added the "sigh", you called it "benefitting", the meaning of the post is pretty clear? Why would you say "We didn't have to rely on parents to help us out back in the day ... sigh". You framed it - quite clearly - as a disadvantage for previous generations but unfortunately the statistics just don't back up the "sigh". It was worse for people in the mid-00's at the peak of the housing bubble but we're quicly getting back there again. Other than that? The cost of a house relative to income has more than doubled since the 90's. Sigh.

Originally Posted by bitontheslide (Post 11040043)

in the 80's when i bought my first house, i had to save like crazy, take any overtime that was offered to scrape a deposit together. We didn't have the schemes available to help purchases in those days. Then, you had to serve your time with a building society, put any spare cash their way until they deemed you could get on the property ladder. People face different challenges at different times, but they are challenges just the same

Originally Posted by bitontheslide (Post 11040043)

in the 80's when i bought my first house, i had to save like crazy, take any overtime that was offered to scrape a deposit together. We didn't have the schemes available to help purchases in those days. Then, you had to serve your time with a building society, put any spare cash their way until they deemed you could get on the property ladder. People face different challenges at different times, but they are challenges just the same

Originally Posted by Cherie (Post 11040041)

I am not implying anything, I am stating there was no help back in the day,...fact

Originally Posted by Toy Soldier (Post 11040049)

I'd believe you if you'd left out the "sigh". Worth considering in future if you're trying not to tip your hand, maybe.

Originally Posted by Toy Soldier (Post 11040048)

They are not just the same house prices relative to income have more than doubled. These are facts and figures, I simply have no idea how people are managing to look at them and say "nah". There's a graph, bots. Have a peek?

Originally Posted by bitontheslide (Post 11040054)

sorry but thats bollocks. House prices vary dramatically across the country. There are still places where property can be purchased for a song. If the aim is to get on the property ladder, it's still perfectly possible

Originally Posted by bitontheslide (Post 11040054)

sorry but thats bollocks. House prices vary dramatically across the country. There are still places where property can be purchased for a song. If the aim is to get on the property ladder, it's still perfectly possible

Originally Posted by arista (Post 11040110)

https://i.dailymail.co.uk/1s/2021/04...9688170347.jpg

https://i.dailymail.co.uk/1s/2021/04...9643288897.jpg
[In a bombshell move, the Electoral Commission
yesterday opened a formal investigation
into the funding of the lavish refurbishment
of the couple's official flat. Pictured: A design by Lulu Lytle,
who is believed to have carried out the refurbishment]

https://www.dailymail.co.uk/news/art...at-refurb.html

Originally Posted by Cherie (Post 11040118)

is that an example of her work, or the actual thing, its giving me a headache looking at it

Originally Posted by arista (Post 11040129)

Example
Not their Downing St.
flat.

Originally Posted by Cherie (Post 11040118)

is that an example of her work, or the actual thing, its giving me a headache looking at it

Originally Posted by Toy Soldier (Post 11040006)

Such a generalisation Cherie.

In the late 80’s My wife’s parents were helped to buy their first home by both of their sets of parents in their early 20’s and traded up and up through the property booms of the 90's and early 00’s.

In 1983 my own maternal grandmother sold my parents her 4 bedroom house at a fraction of market value when my sister was born (they were in their mid 20’s), asking only the cost of the one-bed bungalow she was moving to.

My parents got divorced and sold up everything, my mum is already dead and my dad has no solo assets left and a much younger wife so I’ll get nowt when he does die.

My wife’s parents are only 15 years older than me so we're likely to be pushing retirement by the time we inherit anything from that side.

Yes we’re doing well at this point but literally every penny is ours. To suggest that “the bank of mum and dad” is new and available to all, or that it didn’t exist for anyone in the 80’s, is just not true. We were extremely poor in our early to mid 20’s and got no help at all. Both of our sets of parents got heaps of help.