Quote:
Originally Posted by Maggy J
I will also point out that this OAP has two children to STILL support even in adult life..The Bank of Mum and Dad never shuts.
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... and if/when parents can no longer do that either by being able to have their grown up children live with them for longer or by helping them financially to get their own homes we're going to be in a fine old mess.
We're all paying for the excesses of the past right now but those suffering the least are house owning borrowers who're being massively subsidised due to the extremely low interest rates. With returns hard to find, the BoMD will tend see its reserves curtailed and when it's gone it's gone...
I thought we were supposed to be being wary of rising personal debt and encouraging people to save but you'd hardly think so over the last few years.
