There seems to be a fair amount of more 'mature' members on the forum so I thought I would ask for some advice from any parents of adult children...
Basically I'm still living with my folks at the age of 30 (yeah I know) due to a variety of reasons:
Left uni at height of housing boom (2007), didn't want to risk negative equity
Got made redundant after 2 years and changed careers
Gov' bailed out all the mortgages so prices didn't correct
Now the gov's inflating the prices again with government backed mortgages at least until the next election... and then it would be another 5 years or so for any correction if early 90's is anything to go by.
I think UK housing is dangerously overvalued and I don't want to be wiped out financially.
So what do you think I should do? I'm concerned that bad as the current situation is, if I get myself into negative equity and then (being pretty old) can't afford a family home in 5-10 years time then the folks wont be seeing any grandchildren which is probably a bigger deal? At the same time am I taking the michael by staying? Anyone got children in the same situation? What would you want them to do?
p.s. I'm paying £50/wk to help with bills