Nurses to get a pay rise of 1%

[Miss Pepper]

@Jd_ there's no mortgage protection insurance over here, that went years ago as it didn't help the person buying.

Your property tax is probably the equivalent of our council tax, for me it's just under £1k (removing the water bill from it), but varies council (district) to council and also based on the value of the property.

As a rough average it's 4.5x annual income, before deductions, that can be borrowed, but that's reduced based on debt and credit history.

Inheritance and wealth only works for those with a lot of money, the average person really won't have a lot to pass on when dead, at best it's enough to pay towards a property deposit, most times there's nothing left.

 

[Simon G]

Most of our parents and grandparents did without credit cards, loans, HP the only debt they ever had was a mortgage. If they wanted anything else they saved for it.

I grew up without DG, GCH and there wasn't a phone in the house, no car, no family holidays, couldn't afford to go on school trips so accept my outlook is totally different to most.

You might be surprised how remarkably similar it is to a lot of people @Miss Pepper

 

[Miss Pepper]

@Simon G didn't feel like it growing up!

The 'most of our parents and grandparents' para was more about those around my age, not specifically 'me', but due to talking with people over the years.

 

[Jd_]

@Jd_ there's no mortgage protection insurance over here, that went years ago as it didn't help the person buying.

Your property tax is probably the equivalent of our council tax, for me it's just under £1k (removing the water bill from it), but varies council (district) to council and also based on the value of the property.

As a rough average it's 4.5x annual income, before deductions, that can be borrowed, but that's reduced based on debt and credit history.

Inheritance and wealth only works for those with a lot of money, the average person really won't have a lot to pass on when dead, at best it's enough to pay towards a property deposit, most times there's nothing left.

Im not disagreeing with u. But i think u r underestimating the amount of people one generation before u n me, that dont have much when they die, but still have the houses they bought in the 70's and early 80's before everything got broken.

That can be a game changer for someone in there 40s or 50s with kids who they are about to have to put thru college or who wasnt able to save for retirement because they simply arent being paid enough, or to live in and finally not have to worry about rent (there r even places in this country that have no property tax, once u own it, its yours, period... and dont even get me started on the rediculousness of college tuition, but without that piece of paper u r ineligble for management positions at a lot of companies)

I just think if u do have an inheritance when u die, u should give it to your family first, if they even need it, or then to charity. The whole 'teaching them to make it on their own' concept should only be reserved for rich ppl who have horrible children, lol. Just my opinion

Paris hilton comes to mind

Edit: my mistake, there r no more places that have no property tax...u r simply free to live on the land in some areas, u just dont own it.

 

[crustyfolker]

I get where you're coming from @crustyfolker but there is no right for anyone to expect an inheritance or for those dying to ensure there is.

Personally I would rather have my mom do equity release so she can afford to do up her house, have repairs done or go into a nicer carehome if the need arises.

Not many of my extended family are actually homeowners, most are still living in the council properties they were allocated years ago. The ones who have purchased don't even move up the ladder. I still do not agree with RTB.

I personally do think renting is dead money. I want to feel stability in a home which I've never felt in a rental, always felt like I was one step away from the LL selling or wanting to move back in, which incidentally did happen twice. I know I've had shit LLs, my mates have good ones who do repairs, keep rental costs down and discuss increases with them before doing it.

Just doing quick calculations based on the amount of rent since moving up here but before buying, that's nearly half the mortgage loan amount in 3.5 years.

Why would you want others to have the same crap you had before you purchased, and the worries of private renting that's what i am getting at, that is my point to everyone should have the right to buy at affordable prices. I as a Dad i want to leave my daughter a helping hand when something happens to me , but through disability i had to sell my property and that didn't give me enough to downgrade so after several moves and all the expense with it the pot is now just a small amount.
We are all different and have different lives etc, so in truth should any way of thinking about this be wrong. When previous generations give the next a helping hand it's usually out of love, that's how it works in my family. I can't take and not give it's not in my nature. It could be an age thing lets just say i was born very early 70's and i would never have thought about having a child till at least my 30's but my daughter is IVF which makes me feel lucky to have her. Now i am getting older is probably the reason i want to make sure there is a helping hand for her. All we can do is hope for changes to be made by the Gov and they won't even consider most things.

Edit i do think that folks from Generation x and before addopt the take then pass it on, i think Millenials and Gen z have been raised at in a period where the world has become a greedier place and so they may have different ideas about things.

 

[Miss Pepper]

@Jd_

My mom has her house from the 70s, as I said I would rather she released money from it to live a more comfortable life, than it get distributed to my brother who has never moved out but earns twice as much as me, my other sister who never contacts my mom or me. None of us have kids, at 45 I'm the youngest. We deserve nothing, my mom deserves a home which works, is warm and she's comfortable.

School and college over here is free, university is up here, but not in England. If anyone earns over a certain amount they are auto enrolled into a pension over here. There's state pension and top up benefits, the latter depends on savings and other pensions. My mom 'earns' more now she is retired than when she was working, this was before minimum wage existed.

I've next to no education, never stopped me having a career in law, working up management roles and running the department, doing long hours 7 days a week. Even nearly 5 years out of law I'm still getting chased to return to it. Before anyone thinks I earned loads, I didn't, it was about the same as I'm on now, just slightly better than NMW. Each month it's carefully spent as I've planned for now, the future and retirement.

Things are so different to the USA.

@crustyfolker
Why shouldn't they find their own way? It's a great sense of achievement doing it, builds independence and also teaches the value of things.

Controversial I know, but most of us on here don't earn loads and we find ways of achieving what we want, even if it takes a while.

To coin a phrase life is really what we make of it.

 

[Jd_]

I was in england when i was 15...shoulda stayed, lol

 

[Jd_]

@Jd_

My mom has her house from the 70s, as I said I would rather she released money from it to live a more comfortable life, than it get distributed to my brother who has never moved out but earns twice as much as me, my other sister who never contacts my mom or me. None of us have kids, at 45 I'm the youngest. We deserve nothing, my mom deserves a home which works, is warm and she's comfortable.

School and college over here is free, university is up here, but not in England. If anyone earns over a certain amount they are auto enrolled into a pension over here. There's state pension and top up benefits, the latter depends on savings and other pensions. My mom 'earns' more now she is retired than when she was working, this was before minimum wage existed.

I've next to no education, never stopped me having a career in law, working up management roles and running the department, doing long hours 7 days a week. Even nearly 5 years out of law I'm still getting chased to return to it. Before anyone thinks I earned loads, I didn't, it was about the same as I'm on now, just slightly better than NMW. Each month it's carefully spent as I've planned for now, the future and retirement.

Things are so different to the USA.

@crustyfolker
Why shouldn't they find their own way? It's a great sense of achievement doing it, builds independence and also teaches the value of things.

Controversial I know, but most of us on here don't earn loads and we find ways of achieving what we want, even if it takes a while.

To coin a phrase life is really what we make of it.

My mom has the same prob. Except here, its still cheaper to pay property tax on a house than to rent or even own a decent condo.
I moved back in a few years back and now just pay most of the taxes for her.

It does cramp my style a bit, but its not like im partying anymore either.

Plus i get to live in a huge house with my own master bedroom.

Edit: she also doesnt realize she is becoming senile and deaf, she leaves the stove on, the freezer open, the garage open

 

[zouzounaki]

passed down from one generation to the next is how a family creates wealth and priveledge

exactly the problem.

 

[Jd_]

exactly the problem.

I dont make the rules, but that is how it has always been from the beginning of human existance.

The problem was not allowing certain communities, like blacks, own property to begin with until recently, and the property they were allowed to own was immediately decreased in value by banks and real estate investors simply because they were black.

It happened to my house actually. As soon as it became less than a all white community property values ceased to rise.
In my case its great, because it means taxes ceased to rise too. But it is unquestionably the cause and effect