{"id":53619,"date":"2017-05-03T18:08:34","date_gmt":"2017-05-03T11:08:34","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/blame-the-bank-of-mum-and-dad-for-britains-growing-inequality-ellie-mae-ohagan\/"},"modified":"2017-05-03T18:19:33","modified_gmt":"2017-05-03T11:19:33","slug":"blame-the-bank-of-mum-and-dad-for-britains-growing-inequality-ellie-mae-ohagan","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/blame-the-bank-of-mum-and-dad-for-britains-growing-inequality-ellie-mae-ohagan\/","title":{"rendered":"Blame the \u2018bank of mum and dad\u2019 for Britain\u2019s growing inequality | Ellie Mae O\u2019Hagan"},"content":{"rendered":"


\nCuddly phrases disguise the reality: those with property pass unearned wealth on to their children, entrenching unfairness. It\u2019s capitalism at its most brutalA report from Legal & General and economics consultancy Cebr has found that Britain\u2019s parents have just entered the top 10 UK mortgage lenders. Collectively, they will lend their children \u00a36.5bn this year to buy homes; an amount similar to that lent by the UK\u2019s ninth-biggest mortgage lender, Yorkshire Building Society.The news has been spun as an example of intergenerational inequality and a broken housing market, which it is \u2013 in part. But there is also something bigger and much more damning going on here: these figures represent a massive transfer of wealth by the middle classes to their children. This is essentially a form of wealth hoarding. Indeed, according to research by Royal London, housing wealth is passed down from generation to generation, and \u201conly around 4 million of the 17 million people in the 25-44 age group are in the fortunate position of having grandparents with housing wealth\u201d. In other words, fewer than one in four. Continue reading…
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\nSource : theguardian.com
\nRead more…Blame the \u2018bank of mum and dad\u2019 for Britain\u2019s growing inequality | Ellie Mae O\u2019Hagan<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cuddly phrases disguise the reality: those with property pass unearned wealth on to their children,...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-53619","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-dWP","jetpack-related-posts":[{"id":86709,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/inheritance-tax-can-it-be-the-answer-to-wealth-inequality\/","url_meta":{"origin":53619,"position":0},"title":"Inheritance tax: can it be the answer to wealth inequality?","date":"April 28, 2018","format":false,"excerpt":"\r Reports say we should use it to redistribute between generations \u2013 could we ever grow to love it?It is Britain\u2019s most hated tax, yet hardly anyone pays it. Until recently, this paradox appeared to make raising more money from inheritance tax a no-go zone. Yet leading thinktanks are now\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97712,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-lib-dems-can-heal-britains-economic-divide-heres-how-vince-cable\/","url_meta":{"origin":53619,"position":1},"title":"The Lib Dems can heal Britain's economic divide \u2013 here's how | Vince Cable","date":"September 12, 2018","format":false,"excerpt":"\r Our bold proposals would raise \u00a315bn per year, which we would use to revive public services and create a citizens\u2019 wealth fundMuch of the anger in today\u2019s politics stems from an ongoing stagnation in living standards, coupled with the sight of a small minority becoming infinitely richer. Britain is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":161579,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-wrong-to-blame-boomers-for-britains-inequality-and-economic-woes-letters\/","url_meta":{"origin":53619,"position":2},"title":"It\u2019s wrong to blame boomers for Britain\u2019s inequality and economic woes | Letters","date":"September 25, 2025","format":false,"excerpt":"\r It\u2019s more complicated than that, says Rosa Anderson in response to an article by Phillip Inman, while Peter Mather says boomers are being stereotyped, and Moira Sykes says the article picks the wrong targetOh no, not again. Guardian readers deserve better than Phillip Inman\u2019s tedious and hateful boomer-bashing (Boomers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":134485,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bank-of-mum-and-dad-stoking-britains-rising-inequality-warns-report\/","url_meta":{"origin":53619,"position":3},"title":"\u2018Bank of mum and dad\u2019 stoking Britain\u2019s rising inequality, warns report","date":"February 13, 2023","format":false,"excerpt":"\r Billions in gifts or loans given when children are in early adulthood and buying first home or getting marriedBillions of pounds loaned by the \u201cbank of mum and dad\u201d to help with property purchases and to boost the finances of newly married offspring are helping to fuel rising levels\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9922,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-the-fear-of-a-financial-education-widening-the-wealth-gap-in-america\/","url_meta":{"origin":53619,"position":4},"title":"Is the fear of a financial education widening the wealth gap in America?","date":"April 4, 2016","format":false,"excerpt":"\r Survey finds older educators are more apprehensive about financial literacy but millennial teachers seem more ready to talk about money in the classroomAmericans are under-educated and uncomfortable about the dangers of managing their own finances, a new survey has found, even as inequality takes center stage in a presidential\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":140058,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/from-right-to-buy-to-housing-crisis-how-home-ownership-killed-britains-property-dream\/","url_meta":{"origin":53619,"position":5},"title":"From right to buy to housing crisis: how home ownership killed Britain\u2019s property dream","date":"October 29, 2023","format":false,"excerpt":"\r Margaret Thatcher\u2019s \u2018property-owning democracy\u2019 project drove a mass sell-off of social housing and the growth of private ownership. Now, after more than 40 years of soaring prices and growing inequality, is it time to change course?Property: natural and imprescriptible human right, foundation of freedom, engine of wealth, maker of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/53619"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=53619"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/53619\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=53619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=53619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=53619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}