£1.2tn given to old from young

Thrugelmir

ukcarper wrote: »

How can the £250 billion have been transferred from the young did they actually have the £250 billion.

The older generation’s assets may have increased by £250 billion but what percentage actually sells and goes abroad.

I see it said were able not did.

The young borrowed it, ie mortgages.

Whether the individuals went abroad or not. Isn't the issue. With the increase in property prices there has been a transfer of wealth.

mbga9pgf

Emy1501 wrote: »

Could 70% of the ppoulation afford to buy now without and equity? My understanding nowis that the only FTB who can buy now are the Rich, people who have STR'd The Divorced and those with the bank of Mum and Dad and that comes from the CML. Very few other FTB's can afford to.

The fact the average FTB age is now the highest ever at 33 shows he is talking crap Em

chucky

abaxas wrote: »

All I want is prices to return to affordability for all.

70% (sorry 69.8%) of the population own - that's a large majority, houses must be affordable

mbga9pgf

ILW wrote: »

If you truly cannot afford to buy, you must be a relatively low earner (70% of the population can afford to buy) You ned to lok at addressing your earnings rather than blaming others. As far as I know, the poorest 25-30% have never expected to own in the past.

I earn 50K. I have 100K on deposit. So tell me, bearing in mind recent generations bought between 3-4X salary (my joint salary is 70K) I think looking to afford something more than a crappy barratt !!!! tip isnt too much to ask. Without completely f*cking my future, bearing in mind we are about to see hikes in Income tax, National insurance, Road tax, Interest rates and practically every other cost of living.

ukcarper

Emy1501 wrote: »

Could 70% of the ppoulation afford to buy now without and equity? My understanding nowis that the only FTB who can buy now are the Rich, people who have STR'd The Divorced and those with the bank of Mum and Dad and that comes from the CML. Very few other FTB's can afford to.

I think I would be able to buy now if using the same criteria I used to buy in the 70s.

10% deposit mortgage of 3.5 joint incomes. The difference is I would have to buy a 2 bed flat instead of 3 bed terrace.

That’s on average wage in southeast

mbga9pgf

ukcarper wrote: »

I think I would be able to buy now if using the same criteria I used to buy in the 70s.

10% deposit mortgage of 3.5 joint incomes. The difference is I would have to buy a 2 bed flat instead of 3 bed terrace.

That’s on average wage in southeast

In the same area? If things are so easy for FTBs, why not the same house? Oh thats right, Boomers and their ilk are a bunch of greedy gets.

ukcarper

mbga9pgf wrote: »

The world desnt revolve around the M25. Plenty of commuters in the M1 and M4 corridors.

I now that but if you want to reduce prices in the expensive areas it's no good building houses in the cheaper areas

Mr.Brown_4

ILW wrote: »

Yes, but the aspiration is to rise above the lowest 25% of earners AND THEN buy a house, not the other way round.

Well I'm 46 and not expecting my career / earnings to rise very much - I work on the bins. Therefore I need prices to return to normal levels to be able to become a FTB.

mbga9pgf

ukcarper wrote: »

I now that but if you want to reduce prices in the expensive areas it's no good building houses in the cheaper areas

Prices are expensive everywhere! Go to the Northwest, northeast, midlands, prices are completely nuts everywhere!

ukcarper

Thrugelmir wrote: »

The young borrowed it, ie mortgages.

Whether the individuals went abroad or not. Isn't the issue. With the increase in property prices there has been a transfer of wealth.

But until they sell it's not real money.