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Original poster

Teenage reality hitting home

137 replies

Globules · 23/05/2024 07:09

My teenagers will be voting their first GE.

We had a chat last night about it, and the conclusion they've come to is that their age group is screwed.

Uni loans, house prices, single life.

DS actually held his head in his hands recognising that his £30k house deposit is pointless until his salary is at a ridiculously high level to service a mortgage.

DD pointed out all of the parties are being silent on policies around their age group.

Whilst they have every right to feel negative about it all, they're optimistic beans. I was listening to them talking and feeling so despondent that life ahead looks so tough for them.

I was married aged 22. Bought our first house aged 24 on just my basic teacher salary (he was self employed, so he was a dependent). They just don't have the same outlook, do they?

I really feel for our under 25s. Just me?

OP posts:
Createausername1970 · 23/05/2024 07:42

I agree. Bought first house in 1980 when we got married. £18k. 100% mortgage. We both earned about £9k. So our combined salaries as two youngsters came to pretty much the same as the cost of the property. You can't get a similar property today where we live for under £200k.

I can't see my DS moving out any time soon.

Original poster
Globules · 23/05/2024 07:39

RandomButtons · 23/05/2024 07:35

Your teenager has 30k saved? I think he’s doing alright. Couple years on graduate income saving hard he’ll be launghing.

Theres places you can buy reasonable houses for £150k still. Some for £80k not far from me so long as you don’t mind a 3 bed not fancy terrace. Just not the South East.

He's not a graduate.

He's a teenager working in a shop on £18k pa

His salary is unlikely to get to mortgage levels for a long time.

OP posts:
RandomButtons · 23/05/2024 07:35

Your teenager has 30k saved? I think he’s doing alright. Couple years on graduate income saving hard he’ll be launghing.

Theres places you can buy reasonable houses for £150k still. Some for £80k not far from me so long as you don’t mind a 3 bed not fancy terrace. Just not the South East.

ElephantsDontReadFantasy · 23/05/2024 07:34

Mine aren’t quite teenage yet and we’ve got house renovations planned that allow enough space for them to live with us a while as adults if needed as we feel the same @Katemax82

There is so much more disparity right now. It feels like the wealth gap is growing. I follow Gary’s Economics and he talks about wealth inequality being the biggest factor in loss of living standards.

Original poster
Globules · 23/05/2024 07:33

JustFrustrated · 23/05/2024 07:18

Well, to be fair a £30k deposit will go very far in many places outside of the south....

I would actually like to know policies around that age group though as mine hit that by the next GE and they're right, all parties are very quiet on that front

The deposit is not the problem. It's the £18k salary he's on and the amount it will need to be to get a mortgage to buy the rest of the property.

The builder paid the deposit on our £63k first property. We never even had to have a deposit.

OP posts:
Katemax82 · 23/05/2024 07:31

This is why I've resigned myself to my kids not leaving home for a looong time

Mademetoxic · 23/05/2024 07:27

He is lucky he has 30k saved! I am in my early 30s and have no where near that amount....

JustFrustrated · 23/05/2024 07:18

Well, to be fair a £30k deposit will go very far in many places outside of the south....

I would actually like to know policies around that age group though as mine hit that by the next GE and they're right, all parties are very quiet on that front

qwertyqwertyqwertyqwerty · 23/05/2024 07:14

Yes it is really difficult for them. But they absolutely must engage with the political process or the votes of older people get even stronger in relative terms.

MissyB1 · 23/05/2024 07:14

This is why my 29 year old ds is looking to take his health care qualification abroad. He just can't afford to buy a property here and just about affords his rent and bills.

ChefsKisser · 23/05/2024 07:13

I agree it’s dreadful. It feels like young people are completely forgotten while everyone squabbles over pensions and the brackets for the highest tax payers. I’m not as young as them (33) but feel completely hopeless for the future for us and our children. My parents have pensions double my salary despite working similar jobs and have just had a massive increase with inflation. I meanwhile as a public sector worker have had a pay cut in real times every year since qualifying. I don’t have any advice but I sympathise with them. And I’m glad you’re sympathetic rather than self righteous and going on about how difficult life’s actually been for you- someone with insight hurrah!

pinkstripeycat · 23/05/2024 07:11

I remember my DN saying the same and she’s now 28. Can’t afford to buy a house but living in a nice rental and has money to enjoy life