Anonymous
Anonymous asked in TravelUnited KingdomLondon · 1 month ago

Are children born to parents who are renting in London unlikely to ever be homeowners there unless they get very well paid jobs?

Update:

Please UK answers only who know about London

3 Answers

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  • Anonymous
    1 month ago

    I would think that is probably true. Parents who are home owners are often in a position to help their children to buy, but those who are renting don't have that capability. The only real answer is to move further afield. With changing work practices it is possible to work for a London firm without the travel every day.

  • Anonymous
    1 month ago

    I live in London with my parents and siblings. I am 24 years old, have my own room and I pay £200 rent every month. I also have £15,000 in savings. Unlike other people my age I am not frivolous with my money and save most of my wages. Next year during summer I will start looking to buy a house outside of London and rent it out for a bit then move in. I would continue to rent out my spare rooms even when I have moved in. I am planning to save more money of course I know £15,000 isn’t enough.

  • 1 month ago

    London? Do you believe it's just a London issue? That's the way it is in the US and I'm sure it's pretty much that way were people can own land.

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