Brain recalibration - a cost of living/modern life thread
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Three sons, all house owners. None earn close to £100k, no inheritance and the only help they got with their houses was the moving part. 18 year old grandson in first job is considering getting on the ladder.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
A quick google of house prices in the places referred to in the article tells me those amounts contributed by family are somewhere between 5%-8% of the average house price, so not exactly the game changer that Rick maybe thinks parental assistance is.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
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No they both are.
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Are you saying a £100k plus salary doesn't get you a £330k house? What's that - £35k deposit and £1750 a month mortgage?
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That's a really large chunk of the deposit though.
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It's possible sure. These £100k+ jobs are not common though are they.
- Genesis Croix de Fer
- Dolan Tuono0 -
I mean, the stats don't lie, the average age for buying your first home has gone up from 27 in the 80s to 34 now.
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It could significantly affect the ability to buy the house in the first place, but not going to massively shift the cost of the mortgage.
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No but they definitely aren’t confined to solicitors or doctors. I suspect most people at Director level in a professional services job will be around that level and there are a lot of those types of companies in regional cities.
Anyway, it is yet another thread that has become hijacked by a hobbyhorse
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Point is that it is possible. Location is key to the bubbles.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
I think people are getting a bit hung up on him listing 2 jobs, but sure yes other jobs do exist.
- Genesis Croix de Fer
- Dolan Tuono0 -
I think we have an Avocado themed thread for hobby horses.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]1 -
In the '80s only 20% went to university and gap years were unheard of. Now 50% go to university and a gap year is nearly compulsory.
My theory is that half of that gap is down to people starting work later in life
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Are you sure that lots of people still take gap years? The limited number of kids I speak to don't seem to have any interest. Very small sample size though.
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seems to have been rebranded a year out
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Foundation courses between school and university for pretty much any art or design degree have been a thing since the 80s.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
Problem with inheritance tax is that one way to avoid it is to spend it, via some sort of equity release. There would obviously be taxes incurred via this e.g. a shed load of VAT, but I'm sure most folk would prefer to decide how most of their wealth is spent rather than having it swiped by HMG to be "wasted".
In the interests of full disclosure, I am by accident very conflicted in this. My two kids are the only folk of their generation on either side of the family, and there's realistically only two directions that the equity in quite a few houses within close family are ultimately going to flow. (One being to them and the other being the Taxman, unless Stevo gets in touch!)
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Well it's not gourmet cuisine, that's for sure, but nutritionally I doubt it's that different from something costing twice that from a "premium" name lunch outlet.
And to be fair, cooking a head of broccoli at my desk would be a challenge.
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A factor in that will be more kids going to uni, more then having gap years and needing to stay in education / training until 18.
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True, but if the Taxman swipes it and gives it to someone else, they won't have earnt it either, so best to keep this unearned windfall in the family. I'm sure you'll prioritise financing the Little Chaseys with any spare cash you have over random strangers selected by the government when the time comes.
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I have a feeling you know what you're doing in this area, W&G. But if not, happy to give you my tuppence worth via PM 🙂
I usually add the latest there is also the issue of care costs, which can be a very effective but unwanted way of wiping out inheritances.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]2 -
Exactly. My kid gets priority over total strangers.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
I'm not actually totally selfish (though cognisant of the fact that I'm part of a species that isn't at the top of the food chain by accident) and would be more amenable to more "redistribution" if I had any faith that the political classes would spend it wisely. If additional inheritance / wealth taxes were ring-fenced for my preferred type of social engineering (e.g. education, legal aid, childcare provision) then I'd be more than open to considering politicians' proposals. But I fear that is unlikely. Any extra tax would doubtless just buy me more meaningless soundbites, and I've heard plenty of them already.
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Ignoring all the waffling about house prices and back to day on day cost of living, was surprised by some Tesco clubcard offers today, inc 2kg of potatoes for 15p and a whole fresh cabbage also for 15p. Yes please, I'll have those. I will find some recipe idea for the cabbage. 🤔
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Must be some sort of 15p thing going on. Asda had various veggies on sale for that today when I popped in.
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Do you eat meat? If so, shred the Cabbage, lightly fry it with some chopped bacon or pancetta, and a clove of chopped garlic. Add some stock and some peas and simmer for 5mins. When cooked stir in some double cream or creme fraiche at the end, add a bit of lemon juice and reduce for another minute or so. Finish off with chopped flat parsley. Very good with either boiled potato's or crusty bread.
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I'll give that a go! 👍 Have some smoked pancetta in the fridge, tend to head down the same route into the tomato based pasta sauce land with it, your recipe will bring in some new combos to the palate.
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