House help is a de­mand too far

Central Otago Mirror - - ARROWTOWN AUTUMN FESTIVAL - ROB STOCK AN EQUITY GIFT:

im­bued with the fi­nan­cial facts of life. Stu­dent loans must be kept small. That means study­ing from home, so you need to raise chil­dren you can bear to be around, and who can stand liv­ing with you. Op­ti­misti­cally, I’m go­ing for 6/10.

And now the big­gie. Par­ents, you may have thought it was tough enough to save the vast sums needed for your own re­tire­ment. Well, you now need, it seems, $50,000-$100,000 to help each of your chil­dren into a home. For many new par­ents the chance of that is 0/10. This is an ab­surd pressure for young par­ents to feel. We need a hous­ing mar­ket where or­di­nary hard­work­ing peo­ple can buy homes.

At least if par­ents man­age the first three, their chil­dren will be in a po­si­tion to make their way in the world when/if hous­ing san­ity re­turns, or move­some­where more af­ford­able.

123RF

Will this lit­tle mite need a gift of $50,000-$100,000 to get onto the hous­ing lad­der?

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