What to buy in grim times
I was planning to avoid writing about the property market in this week’s letter. But I just had to comment on the latest piece of housing ‘research’ doing the rounds. According to a recent survey, parents across Britain are preparing to cough up an average of £20,401 each in the quest to get their offspring onto the property ladder.
Of course, this is a gross generalisation – these surveys are just pieces of promotional fluff designed to get the name of the company behind them into the papers. But it’s been very successful in its aim – plenty of pages in the weekend property supplements were devoted to how you can help your children buy their first home.
After all, the demise of 100% loans and ridiculous lending multiples has made it impossible for anyone on a normal-sized wage to even think of getting an adequate mortgage on their own – so how else are the poor dears ever going to be able to move out of the family home?
Read the full editor’s letter here: What to buy in grim times