The ticking time bomb ready to obliterate the house price revival

ruggedtoast

http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article6924020.ece

We have developed a perverse, visceral relationship with our homes. Stamp duty and inheritance tax are akin to physical assaults. The baby-boomer generation bought all the houses when they were cheap, and guard them like terriers, determined to pass them on to the next generation. Their determination is understandable. The gap between the equity rich and the renters is wide and growing. Once on the wrong side of the divide, it is difficult to return. We want our children to be on the right side.
But the boomers are rapidly ageing. Either they accept that their houses should be sold to pay for their care, or they bequeath a monstrous tax burden. Either way, their children will pay.

Tick tock. Tick tock

tick

the_ash_and_the_oak

while its an issue I think we're still another 5 years or so before it starts to have a significant impact

ruggedtoast

Depends if you live in Bournemouth or not!

CLAPTON

whatever does it mean?

when were house cheap ?

how do they guard them like terriers (you mean by living in them and raising children?

In any event, I thought they all had final salary pension schemes funded by the willing tax payers.

ruggedtoast

CLAPTON wrote: »

whatever does it mean?

when were house cheap ?

how do they guard them like terriers (you mean by living in them and raising children?

In any event, I thought they all had final salary pension schemes funded by the willing tax payers.

The grey pound is being stretched to breaking point.

The pips will squeak!

A house is to live in not to fund a legacy.

ThrowingStonesAtYou

Is this why baby boomers love HPI so much? Because it allows them to blackmail their kids by saying "do what I want or I won't leave you the house and you'll never have a place of your own".

Sad.

ruggedtoast

Many olds have mutually contradictory desires for their kids to get on the property ladder, whilst at the same time wanting to sell their boomer boxes to other peoples kids for 10 times what they paid for them, to fund a nice retirement.

Unfortunately there frequently isnt much nice about an NHS retirement home, and with private fees outside London easily averaging £500 a week or more , something has to give.

ses6jwg

Good.

Hope they fall 50% so I can buy one.

amcluesent

NuLabour's bungling has lost £3 Trillion of the nation's wealth. That's £50,000 for every family in Britain. Gone for ever.

There's only one thing left.

They've pretty much sold everything that the 'public' owned.

They've covertly stolen private pensions.

Now there's no choice but to blatantly steal private wealth. Houses, savings, shares etc. will be taken from you, because this is a 'democracy' and the panicking sheeple voted for it.

Gold bullion in Swiss vaults is the only safe store of wealth. It IS that serious.

the_ash_and_the_oak

they're going to confiscate people's houses?

ThrowingStonesAtYou

amcluesent wrote: »

Now there's no choice but to blatantly steal private wealth. Houses, savings, shares etc. will be taken from you, because this is a 'democracy' and the panicking sheeple voted for it.

Are people forced into care homes (seriously, I don't know)? If they are, and their assets are taken to pay for it against their will then there is an argument some stealing is going on.

If not, then surely no stealing is occuring, as don't people save for their old age for a reason? Or would you rather these oldies 'steal' from the taxpayers while retaining their own personal wealth?