To be jealous of older generations who were able to buy houses because their bosses exaggerated their salaries?

[HonestTealPoster]

Yesterday I was at the spa and got talking to a man who was older than me (I’m 33 and I’d put him in his early 50s at most).

He told me that when he was in his 20s, he and his friend were able to buy properties in the area of South London where I grew up.

Despite not earning particularly much at the time, his boss wrote a letter stating that he earned £90,000 a year! He openly admitted that he wasn’t earning anywhere near that amount but the letter helped him secure a mortgage. He also received £5,000 from his grandmother towards the purchase.

I’d heard stories about people being able to do things like this years ago but I’d never actually met someone who’d benefited from it!

I was genuinely gobsmacked. Imagine being able to get on the property ladder like that.

AIBU to feel rather envious of how much easier some people had it when it came to buying their first home?

Classic Ponzi scheme behaviour, it is going to unravel big style this time.

https://www.propertywire.com/news/vistry-to-close-12-offices-as-debts-reach-800m/

Of course, all young people today are just stupid - they can’t manage their budgets. That’s the problem!

laughable.

It was definitely a thing.

Yes I remember my boss’s secretary asking me how much salary did I want them to put down! I said she could tell the truth. But whatever they said you still had to pay the mortgage, and interest rates were around 14% back then. House values to earnings were cheaper though. My first flat has gone up ten fold but the salary of a person in the job I had then has only tripled.