Cornwall's broken housing market

not sure how mine will pan out as my folks transferred their house to me and my sis over a decade ago ,hopefully they will go on and on a very long time
Last time I checked (IANAL) if it's been 7 years since the transfer then you're OK.

Less than 7 years and the govt can recoup care costs from (forced sale of) the house, even now in your name, as it's considered that the house was transferred to avoid paying care costs.

e: That's wrong. There is no set time limit. The house could be transferred to you 20 years ago and still be considered "deliberate disposal of assets to avoid care costs." Nasty.
 
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WRT to your parents care costs eating your inheritance, I’m sure that’s been modelled by care companies and it will get eaten up. On one hand it’s fair they should get the best care they can get when unable to live alone, on the other hand I guarantee it will be a rinsing.

WRT commutes, make your own mind up, I’ve done between 3 hours each way (every day!) and now 40 mins door to door. It depends on where you live and how much you get paid and how much you like your job. Horses for courses. What I will say it would be far more pleasant without sharing the experience with randoms. Obviously the longer the commute (on public transport) the more likely you’ll see familiar faces every day. Just remember Fred and Rose West are also “familiar faces”.
 
That's a bit mental, tho. It's not good for you or the planet, and I don't understand why (some) people seem to view a long commute as a badge of honour.
It pays the bills and it doesn't bother me at all. I'm in construction some people travel from Glasgow to Somerset twice a week. The work involved is more that important than all this planet saving hogwash that we all should be worried about lol
 
It pays the bills and it doesn't bother me at all. I'm in construction some people travel from Glasgow to Somerset twice a week. The work involved is more that important than all this planet saving hogwash that we all should be worried about lol
Have you been watching the news, recently? You know, the fires, the floods, the general scientific consensus that things are only going to get worse...

"Hogwash," indeed. Anyway, off-topic, my bad.
 
Have you been watching the news, recently? You know, the fires, the floods, the general scientific consensus that things are only going to get worse...

"Hogwash," indeed. Anyway, off-topic, my bad.
No haven't watched the news in absolute years. Until they tell me that construction is too dangerous for the planet and here's my P45 I think my travelling is quite minor to everyone else's carbon footprint.
 
Unless they're donating it to the dog's trust or something you'll have the house presumably? There are quite a lot of millennials out there who will eventually inherit large assets, in this country the government shields a large chunk of those from being used to fund care too + provides a special allowance for family homes so you can inherit up to a million basically pre-IHT.

Hopefully, a future government will overhaul planning and simply build more housing (and transportation infrastructure, we're still way behind on high-speed rail and it seems like a total farce when they to try and build it too, likely requires some legislation to prevent constant legal challenges and delays.)

Final salary pensions aren't really sustainable and it's probably a good thing they've been phased out.
I expect to inherit a fair bit, but I'm one of 5, and I expect the timing will not benefit me really but my children/grandkids.
I'm the eldest, so with hindsight I'm very resentful that my siblings weren't made to join the church.
 
Yup, quite possibly and then perhaps millennials will be the new "boomers" everyone loves to moan about.

Of course in cases where some millennial couple is in a little flat they just about managed to buy and some boomer parents are wondering if they'll ever be grandparents while living in a 4-5 bedroom detached house as a couple then perhaps they can think about the tradeoffs.

Is it worth staying there or is it worth passing something on earlier... do they perhaps sell up, buy a bungalow and offer to buy part of the equity in a new home for each of their kids... which they maybe retain initially (protects the kid financially in the event of a divorce too as he/she would only be dividing up their half share of the home if the parents own the other half).

Not that they should be obliged to, it's their money, they could go cruise the world for the next decade if they like. It's just somewhat ironic if millennials are complaining about childhood homes now being worth 700 or 800k and their retired parents are still living in such homes while not really utilising them as they no longer need 4 bedrooms.

Its been quite a tough year for my partner. Her mum passed away this year. (gf is 31 with old parents)
Her mum had a 50k ish pension.
Apparently her dad is getting 49k and her and her brother are getting 500 each.
Her brother is saving for a house, and her dad is in a huge huge boomer house.

GF is a bit irked. Not for herself. But for her brother, who's even taken on one of the family dogs.

I can't believe it either. But they've always been a bit funny with money.
They also have inherited 25pc of the family home.. But again, obviously it's not accessible.


1000 when you're 25 is worth more than 10k when you're 50.
 
If we simplified the planning process and removed various obstacles then we could alleviate this problem. The NIMBYs are rarely representative of the local area, they're just people with lots of time on their hands but the council members listen to them.

If various projects continually have months of delays and additional costs then without that more homes could have been built and we'd have much less of an issue.




Presumably, there are other biological parents too on your side and/or theirs who may have houses. In the typical case there will just be two kids, ultimately while the population is growing thanks to immigration the number of native brits isn't really increasing so much, the middle-class boomers with family homes are largely going to end up passing those on to middle-class millennials.

The typical middle-class millennial couple will perhaps receive half of a family home from each of their set of parents respectively.

Ha, my bio dad is useless. I think I'm richer than him. Haven't seen him since I was with my ex.. 8 or 9 years ago.
I think my step siblings are in a similar position
I once got a 10 pound postal order in a birthday card from biodad. I didn't cash it in, as petrol and car parking cost wasn't worth my time. Apparently his credit score was so trash he couldn't have a bank account. Lolololol

There are 4 kids from my grandparents
There are 3 kids from my parents (11 kids in total from the 4 kids my grandparents had)
I expect my sisters will have 2 kids max
And me none. (4 kids from 3)

You can see within a short space of time the population decline
 
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Which is great, you would have thought. But policy makers will do everything in their power to stop the population from shrinking, and preferably (for them) growing.

If we assume same model as now.. Yeah the UK will be clamouring for immigrants.

I'm not sure how much of our population decline is free choice or pull (I'm very much choosing it for an easier life, I could afford it) vs push (environmental fears, inability to afford it, etc)

Still unsure of if future we just won't need so many kids anyway
 
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If we assume same model as now.. Yeah the UK will be clamouring for immigrants.

I'm not sure how much of our population decline is free choice or pull (I'm very much choosing it for an easier life, I could afford it) vs push (environmental fears, inability to afford it, etc)

Still unsure of if future we just won't need so many kids anyway
Well there are lots of great reasons not to have kids, ranging from affordability to the state of the planet they'll inherit.

If only we could come up with a model for the economy that didn't rely on continual population growth, eh... Plenty of people don't want to have kids. Lots of my generation (X/Y boundary) haven't had them.
 
Well there are lots of great reasons not to have kids, ranging from affordability to the state of the planet they'll inherit.

If only we could come up with a model for the economy that didn't rely on continual population growth, eh... Plenty of people don't want to have kids. Lots of my generation (X/Y boundary) haven't had them.

Its automation... But without it being used by capitalism to funnel yet more resources/control to fewer and fewer people.

People are inherently selfish by design. And the most selfish get to the powerful positions. Automation could provide a utopia... But I doubt it will pan out that way
 
Not just Cornwall.

Most of North Norfolk is the same.

I'm sure there are other areas in a similar boat.

Large area's of Kent are seeing house prices going through the roof (sorry) partly due to those being able to sell, Mum's or Grans house she bought from the city council for £45,000 now being worth £3.5m.
 
I'm going to say an unpopular opinion- but Cornwall is crap: (I'm in the country next door- Devon)

Lets see the principle towns:
Hayle- a run down place with a river.
Padstow- rubbish
Newquay- one trick pony, good for surfers not much else.
Bodmin- Bodmin Jail is good, the rest is a bit meh.
Penzance- rubbish, the only thing good about the place is a trip to Isles of Scilly. Oh and it might have a harbour.
St Austell- reputation for drug users
Liskeard- a ghost town.
Callington- an even worse ghost town.
Bodmin Moors- no one walks there.
Falmouth- if you like modern and hip Cornwall.
Wadebridge- reasonably decent town.
Truro- the only city in Cornwall, commuting nightmare for many, as it's a central place for work.
Camborne- known as the roughest part of Cornwall.
Redruth- you only have to pass by on a train to see how bad this is.
Launceston- main feature- Norman castle on a hill. It's actually quite a quaint little town but everyone bypasses it. Got mugged there for 50p once.

Good parts:
St Ives- but rampacked with tourists.
Polzeath- great beach.
Bude- lovely place, ram-packed with tourists in summer months.
 
it's not the beast though- it's something else, I blame being ambushed by torrential rain the time I went there. I'm a frequent Dartmoor walker and I've never known a downpour like that. Completely drenched. In the middle of August.
 
I'm going to say an unpopular opinion- but Cornwall is crap: (I'm in the country next door- Devon)

Lets see the principle towns:
Hayle- a run down place with a river.
Padstow- rubbish
Newquay- one trick pony, good for surfers not much else.
Bodmin- Bodmin Jail is good, the rest is a bit meh.
Penzance- rubbish, the only thing good about the place is a trip to Isles of Scilly. Oh and it might have a harbour.
St Austell- reputation for drug users
Liskeard- a ghost town.
Callington- an even worse ghost town.
Bodmin Moors- no one walks there.
Falmouth- if you like modern and hip Cornwall.
Wadebridge- reasonably decent town.
Truro- the only city in Cornwall, commuting nightmare for many, as it's a central place for work.
Camborne- known as the roughest part of Cornwall.
Redruth- you only have to pass by on a train to see how bad this is.
Launceston- main feature- Norman castle on a hill. It's actually quite a quaint little town but everyone bypasses it. Got mugged there for 50p once.

Good parts:
St Ives- but rampacked with tourists.
Polzeath- great beach.
Bude- lovely place, ram-packed with tourists in summer months.

Cornwall is nice for a visit. But I wouldn't live there myself either.
-lack of variety
-a ***** to get anywhere else.

But as a retirement place? I can see the appeal.
 
I'm going to say an unpopular opinion- but Cornwall is crap: (I'm in the country next door- Devon)

Lets see the principle towns:
Hayle- a run down place with a river.
Padstow- rubbish
Newquay- one trick pony, good for surfers not much else.
Bodmin- Bodmin Jail is good, the rest is a bit meh.
Penzance- rubbish, the only thing good about the place is a trip to Isles of Scilly. Oh and it might have a harbour.
St Austell- reputation for drug users
Liskeard- a ghost town.
Callington- an even worse ghost town.
Bodmin Moors- no one walks there.
Falmouth- if you like modern and hip Cornwall.
Wadebridge- reasonably decent town.
Truro- the only city in Cornwall, commuting nightmare for many, as it's a central place for work.
Camborne- known as the roughest part of Cornwall.
Redruth- you only have to pass by on a train to see how bad this is.
Launceston- main feature- Norman castle on a hill. It's actually quite a quaint little town but everyone bypasses it. Got mugged there for 50p once.

Good parts:
St Ives- but rampacked with tourists.
Polzeath- great beach.
Bude- lovely place, ram-packed with tourists in summer months.
Depends what you're after. That's a list of towns and frankly, you don't come to Cornwall to spend your time in any of the towns. This isn't the place for nightlife, for Michelin-star dining, for theatre, etc. If you're spending your time in St Ives you're probably getting mugged (not literally) by paying tourist prices for everything. Fancy a loaf of bread for £8? St Ives can hook you up.

Cornwall's appeal is essentially the terrain, and for those of us who live here, the climate. Cornwall doesn't (typically) get too hot, or too cold. Cornwall's temperature rarely dips into negative degrees C, and we can grow tender plants outdoors where other places in the UK can't. I guess that's a double-edged sword as it's a huge bonus point for retirees :p

We have an awesome coastline. You'll need a car to see any of it tho, because public transport is non-existent. Beeching/Marples closed all the branch lines and we've never recovered from that. If there was ever a place that needed an extensive train network, it is Cornwall, but we've lost just about all of them. Busses run once every leap year.

There are no big cities, and air quality is decent. Wherever you are, the countryside is only 10 mins away, pretty much. People say Cornwall is laid back and we do everything drekly. That's hard to measure or verify, but there might be some truth in that ;)

Prices in Cornwall are high for everything. The average used car is significantly more expensive than anywhere else (all those retirees buy local and stump up the extra cash). Wages are rock bottom unless you work remotely for a London firm.

Listen, I'm not trying to be Cornwall's salesman. There are lots of drawbacks to living here. Nobody said Cornwall was all that, for working-age people. But people should be able to live and work here. Even shopworkers, cleaners and carers. That's the whole point of this thread.
 
not sure how mine will pan out as my folks transferred their house to me and my sis over a decade ago ,hopefully they will go on and on a very long time

Missed this one but as @FoxEye points out you can't necessarily do that to doge care costs if they see it as a disposal of assets, more to the point re: the 7 year thing it's potentially dodgy for inheritance tax too.

Are they still living there? Because if they are then it's the most obvious and flawed attempt to dodge IHT going, AFAIK they need to pay you market rate rent else the transfer is kinda null in the eyes of HMRC.

Also unless they're millionaires then it was a bad move to attempt to try to avoid this stuff in the first place too, the allowance applies to each of them and can be combined + there is an additional allowance for the primary residence... so if they're not millionaires then that was pointless + there's a cap on care costs anyway.
 
Visited Polzeath last month, overpriced surf shops, private school kids and their rude parents in range rovers. Was disappointed. Bude was relatively quiet for time of year, tourism definitely down after the golden COVID years
 
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