Mortgage Rate Rises

413x said:
Yeah a lot of friends in same position too.
What's the reason yours don't want any? I've always known.
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there unsure of the future ... must be taking it's toll on the young un's ..i was unsure but got thru it .. only wanted one but had a surprise a yr and a bit later .. then had the job done .. pressure and stress .. as well as self are not good signs for the future
 
flea.rider said:
there unsure of the future ... must be taking it's toll on the young un's ..i was unsure but got thru it .. only wanted one but had a surprise a yr and a bit later .. then had the job done .. pressure and stress .. as well as self are not good signs for the future
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Its sad if people want them, but feel they can't afford it. Or its for environmental fears. (seems to be more thiniing this).

Both are understandable.


Especially the environmental concerns. This is a biggy. And it will very much hut the kids born now.
 
Jono8 said:
I think food/energy bill contribution is reasonable if your kids are in their 20's and have a job.

Actually charging rent (ie profiting from them) is a ***** thing to do. You brought them into a broken capitalistic hellscape. Suck it up.
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Charging your kid who is in their 20's, food/energy bills, is extremely cheap, this gives no motivation.

Generally as i've seen plenty in such a situation, they work, go out a lot, and make no effort to improve past this.

IN the end your parents will eventually die and you'll be an adult child, its hard to unlearn decades of lazy low motivation behavior. So they will be ***** then.
 
platinum87 said:
Charging your kid who is in their 20's, food/energy bills, is extremely cheap, this gives no motivation.

Generally as i've seen plenty in such a situation, they work, go out a lot, and make no effort to improve past this.

IN the end your parents will eventually die and you'll be an adult child, its hard to unlearn decades of lazy low motivation behavior. So they will be ***** then.
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Charging your kids rent because you think it’s some kind of learning experience is absolute rubbish. Contributing for food, energy etc is fine, but basic rent is just a way for parents to try and make their own lives easier. They just use ‘learning and motivation’ as an excuse.
 
413x said:
Its sad if people want them, but feel they can't afford it. Or its for environmental fears. (seems to be more thiniing this).

Both are understandable.


Especially the environmental concerns. This is a biggy. And it will very much hut the kids born now.
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A lot of your posts in this thread talk of climate change and environment in the future. What do you believe is coming for the next gen?
 
robfosters said:
Charging your kids rent because you think it’s some kind of learning experience is absolute rubbish. Contributing for food, energy etc is fine, but basic rent is just a way for parents to try and make their own lives easier. They just use ‘learning and motivation’ as an excuse.
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YEP. there's only 1 type of person in the world and nothing in between. no one else has different motiviations or experiences.
 
robfosters said:
Charging your kids rent because you think it’s some kind of learning experience is absolute rubbish. Contributing for food, energy etc is fine, but basic rent is just a way for parents to try and make their own lives easier. They just use ‘learning and motivation’ as an excuse.
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Aren't we getting hung up on the term rent here though? Call it what you want. It's an amount of money to contribute to household costs whilst at working age. Most call it keep. You can call it rent if you want?
 
dLockers said:
Why not give him the tools to make an informed choice? It isn't his fault you didn't make the most of it. If graduates were focused on the right roles, it isn't difficult to get £36k/year fresh out of University, and be earning over £100k in ~7 years.
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It’s extremely unlikely that a graduate is going to be earning that sort of money in those timescales, outside of specific industries and/or outside of London. Financial lures aside, jobs that might pay that much might make the average person want to blow their brains out.

As an aside, I do wonder what a ‘decent wage’ is these days. Before I worked, my dad always told me “aim to earn your age”. I think that approach was a little outdated by the 2000s. 5-10 years ago, I think around £40k outside of London was enough to do pretty much as you pleased with a bit of budgeting, but with the costs of living and house prices etc, I’m honestly not sure that really cuts it anymore as being a ‘decent wage’.

Then I consider that the average wage is in the 25-30k mark and I’m like… damn.
 
Azza said:
Better get saving for the retirement home.


www.rightmove.co.uk

Check out this 2 bedroom retirement property for sale on Rightmove

2 bedroom retirement property for sale in Silver Street, Kings Heath, Birmingham, B14 for £329,950. Marketed by Connells, Kings Heath
www.rightmove.co.uk www.rightmove.co.uk

www.rightmove.co.uk

Check out this 2 bedroom apartment for sale on Rightmove

2 bedroom apartment for sale in Wake Green Road, Moseley, Birmingham, B13 for £359,849. Marketed by Robert Oulsnam and Company, Moseley
www.rightmove.co.uk www.rightmove.co.uk
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It's Birmingham though
 
jaybee said:
A lot of your posts in this thread talk of climate change and environment in the future. What do you believe is coming for the next gen?
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Massive sea level rises. Think how much of the UK is at risk of it? Huge areas.

Even worldwide, a huge proportion live in low lying coastal cities.

And in terms of mortgages, soon as these sea level rises become "real" no one will want these properties.



Beyond this thread... Well, it's going to get bad. We've just had a few years of globally cool temperatures and yet the perma ice still melts.
We may well have a few years of the opposite. I'm expecting big numbers in terms of melting.


Beyond that, food will get more scarce, people. Will be displaced. It's all building up. And it's basically unstoppable. Certainly not in time.
 
robfosters said:
Charging your kids rent because you think it’s some kind of learning experience is absolute rubbish. Contributing for food, energy etc is fine, but basic rent is just a way for parents to try and make their own lives easier. They just use ‘learning and motivation’ as an excuse.
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My daughter is 15. If she chooses to stay in school I will support her but if she chooses to go to work. I will charge her rent but it will not line my pockets. It will go into a savings account for when the time comes and she is ready to move out.
 
There are three housing developments in Abingdon which have stopped work, so no new builds are coming onto the market around here anyway.

600k new people are coming to the UK every year needing homes.

Not sure there will be a crash.
 
Maccy said:
Interesting, we’re in exactly the same position - I really should find out what’s going on but part of me thinks that the lenders are just going to sort this between them, as is usually the case.
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Thanks glad it's not just me , I might give them one more call just to be sure
 
danielanthony said:
There are three housing developments in Abingdon which have stopped work, so no new builds are coming onto the market around here anyway.

600k new people are coming to the UK every year needing homes.

Not sure there will be a crash.
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I thought the recently reported 600K number was a bit of an exceptional year due to people delaying plans due to Covid + HK visas + Ukrainian refugees?
 
Apparently theres going to be a second wave of people coming from HK.

According to this article there are 640k empty homes in the UK.
www.economicshelp.org

Is there really a Housing Shortage in the UK? - Economics Help

Do we really need to build 300,000 Homes a year – How Bad is the Housing Shortage? When we talk about UK housing, we tend to think of an acute shortage. And it is not surprising given the fact house prices have reached nine times income, and we face a…
www.economicshelp.org www.economicshelp.org
 
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robfosters said:
Charging your kids rent because you think it’s some kind of learning experience is absolute rubbish. Contributing for food, energy etc is fine, but basic rent is just a way for parents to try and make their own lives easier. They just use ‘learning and motivation’ as an excuse.
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My mate paid "rent" to his parents for years when we were young and it seemed a bit steep at the time to me.

By time he reached 23 or so and wanted to buy a house his parents had actually saved every penny rent he paid and gave him £20k towards his deposit. I think that approach was one I might use for our daughter.
 
Azza said:
Better get saving for the retirement home.


www.rightmove.co.uk

Check out this 2 bedroom retirement property for sale on Rightmove

2 bedroom retirement property for sale in Silver Street, Kings Heath, Birmingham, B14 for £329,950. Marketed by Connells, Kings Heath
www.rightmove.co.uk www.rightmove.co.uk

www.rightmove.co.uk

Check out this 2 bedroom apartment for sale on Rightmove

2 bedroom apartment for sale in Wake Green Road, Moseley, Birmingham, B13 for £359,849. Marketed by Robert Oulsnam and Company, Moseley
www.rightmove.co.uk www.rightmove.co.uk
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How to throw all your hard earned money away . I suppose it’s ok if you have no dependents but I would rather look at equity release and have a nurse come in everyday than live near other old people .

Resale then becomes very selective and wait until you see the annual service charge.
 
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