£1.2tn given to old from young

ukcarper

Graham_Devon wrote: »

As we have already been over, credit is a huge part of ownership, and credit wasn't as easy.

Plus council houses were still very much widely available back then.

Relying on a graph and the ownership graph just misses the bigger picture.

This thread is just going wrong in circles.

The trouble is you can’t really compare the 70s with today things were totally different then. But some people on here are always doing it.

Graham_Devon

ukcarper wrote: »

The trouble is you can’t really compare the 70s with today things were totally different then. But some people on here are always doing it.

I know, you have been for the last couple of pages

chucky

Graham_Devon wrote: »

My answer is I'm not going to be boxed into a question with only 2 answers.

good answer - you are learning well from julieq

here's most of your answer - adding high levels of credit for those that can buy

Really2 wrote: »

Personally the problem house prices are so high is a lack of social housing and an increasing population, lack of building to keep up with population growth.

Graham_Devon wrote: »

The bears want sensible house prices. Sensible credit.

that's because they can't afford them - they are sensible but just for those that can afford them

Really2

Graham_Devon wrote: »

My answer is I'm not going to be boxed into a question with only 2 answers.

The bears want sensible house prices. Sensible credit.

The right honorable poster has folded after leading himself in to a corner.

ukcarper

stueyhants wrote: »

I'm arguing there wasn't the same level of desire in the 70's as there is now for OO. People had adequate social housing so didn't always need to own privately. Therefore the % was lower through choice as much as it was harder to afford OO.

The current generation don't have the choice of social housing and so get forced in OO or private renting.

In the southeast social housing wasn't that easy to get in 70s. If I hadn’t bought I would have had to live with my or my wife’s parents.

ukcarper

Graham_Devon wrote: »

I know, you have been for the last couple of pages

only because people keep telling me how easy it was for me to buy a home

chucky

Graham_Devon wrote: »

My answer is I'm not going to be boxed into a question with only 2 answers.

Really2 wrote: »

The right honorable poster has folded after leading himself in to a corner.

good to see that he accepts that he was wrong

Really2

ukcarper wrote: »

only because people keep telling me how easy it was for me to buy a home

And you robbed the young of £1.2 Trillion, don't forget that too.

Graham_Devon

Glad to see it's the "older generation" who are acting like kids thinking they have won some sort of argument.

I just can't be bothered going round in circles and having questions asked which have been worded so that you are boxed in.

Thrugelmir

The chief economist at the BOE in a speech given in September. Estimated that around £250 billion of assets had been transferred from young to old on the back of HPI in the 10 years 1999 -2009.

The basis of his theorey was that as house prices rose, the older generation who had already moved up the property ladder and had no/mimimal mortgages. Were able to realise the gain to downsize or retire abroad. Therefore enjoying the benefit of the excess.

The young are now of course left paying the cost of their elders good fortune.