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I think their parents got mortgages which they were paying off all their factory drone lives, not bought these houses.
by viach 8y ago
I think their parents got mortgages which they were paying off all their factory drone lives, not bought these houses.
- sideshowb 8y agoAnd the kids get mortgages in their 30s too presumably
- usrusr 8y agoOnly those who either expect to stay employed in the same geographic area for the remainder of their working life (this has dropped from "almost everybody" to "hardly anybody" where I live) or who simply do not care (I presume that this has stayed constant over generations)
- sideshowb 8y agoHere in the UK you can port mortgages from one house to another... (Or at current interest rates let out the old place)
- s3m4j 8y agoCounterpoint, to take a loan you have to trust the system to both do right by you, and not collapse from under you. It might be difficult now to trust those two things.
- maxerickson 8y agoWhat's the downside of having a loan when the system collapses? Just walk away from the property and there you go. The worse the collapse the easier that is.
- growlist 8y agoPeople have been calling a property market crash here in the UK for many many years, with others making £100ks out of property over the same period. Anyone that is sage enough to call the housing market should start a private equity company and make billions.
- endymi0n 8y agoIn most cities in western / northern Europe, it's completely impossible by now to get a mortgage for a home remotely large enough for a family, even with two factory drone salaries and even if you pay all of your life.
- olavgg 8y agoNot really, the problem is that the average standard in a home is quite high and makes the average housing very expensive.
- viach 8y agoNoticed how you added "large enough" restriction? Standards are changing, today it is not enough to buy just a house, it should be "large enough".
- Ar-Curunir 8y agoIf you omit the second part of the phrase obviously the meaning changes. The commenter clearly said "large enough for a family".
- smcl 8y agoEveryone who has ever bought a house or flat has an expectation that it will be large enough for their needs - whether that is a single person, a couple or a family with two kids. This is not a new development.