£1.2tn given to old from young

StevieJ

What about the money stolen by some fairly young people who bought 1994 -2003
and seen their leveraged 'investments double/treble

Cleaver

ukcarper wrote: »

how many babyboomers have 2 or more houses

A quick, and probably inaccurate, google shows that there are apparently around 25 million homes in the UK and there are around 245,000 second homes.

So that would suggest that around every 1 in 100 properties is a second home for someone. I would imagine most are owned by baby boomers.

Emy1501

StevieJ wrote: »

What about the money stolen by some fairly young people who bought 1994 -2003
and seen their leveraged 'investments double/treble

I'm one of them. To be honest though mines still in the house and I'd be probably better of it had not gone up at all.

ukcarper

Cleaver wrote: »

A quick, and probably inaccurate, google shows that there are apparently around 25 million homes in the UK and there are around 245,000 second homes.

So that would suggest that around every 1 in 100 properties is a second home for someone. I would imagine most are owned by baby boomers.

Why do you assume that?

sjaypink

Cleaver wrote: »

A quick, and probably inaccurate, google shows that there are apparently around 25 million homes in the UK and there are around 245,000 second homes.

So that would suggest that around every 1 in 100 properties is a second home for someone. I would imagine most are owned by baby boomers.

I think when most talk of greedy baby boomers they are thinking of BTL properties more so than holiday homes?

StevieJ

Emy1501 wrote: »

I'm one of them. To be honest though mines still in the house and I'd be probably better of it had not gone up at all.

Why

ukcarper

sjaypink wrote: »

I think when most talk of greedy baby boomers they are thinking of BTL properties more so than holiday homes?

I'm a babyboomer know loads of others only one has a BTL property and he has only got one.

Sapphire

Cleaver wrote: »

What I'm about to type isn't directed at you Graham, just a comment in general.

My Dad is a baby boomer and he is pretty rich.

He was born and lived as part of a very poor family on one of the roughest council estates in the country. His parents worked but were very poor and he shared a bed with two of his siblings until he was 15. The basics in life like food and heat were hard to come by. He went to a very rough school where, by the sound of it, most people ended up being expelled or in prison. Because of this he decided to study hard to get out of this situation and ended up being the first in his family to get a qualification and managed to get to university on the basis of his hard work and determination.

Again not wanting to end up back in the situation he grew up in he plodded off to uni (no halls of residence then, so he worked almost full time and rented a bed in a guesthouse in a room of five beds, which were normally filled with a variety of salesmen, builders and various oddballs) and got himself a first.

After getting a first at uni he started on his career and worked damn hard. He worked his way up to be a director and, finally, a chief exec. My Mum, also a Baby Boomer, worked hard to bring me up and also helped to save and invest money and make sure we were financially sound.

Yes, my Dad's house rose in value through HPI. This didn't make him rich though, his general attittute to life, his work ethos and his sheer determination to do well in life got him where he is. If the rest of his generation are similar then they probably deserve to hold 80% of the wealth in this country. If you told him that he'd "made his money from the younger generation" he'd look at you gone out then probably tell you to work harder.

That's exactly my experience of that generation. Today's spoiled yoof lives in cloud-cuckoo land.

sjaypink

ukcarper wrote: »

I'm a babyboomer know loads of others only one has a BTL property and he has only got one.

Not saying all 'baby boomers' have BTL properties- saying the phrase (or at least the way it is often used here) assumes greed, buying up properties to rent out and use as a pension fund, rather than a holiday home for personal use, which is what the link referred to

I know a few personally who have a BTL, don't know anyone with a holiday home, but then i do live in a holiday resort.... there are lots of empty holiday homes here...

Sapphire

Cleaver wrote: »

A quick, and probably inaccurate, google shows that there are apparently around 25 million homes in the UK and there are around 245,000 second homes.

So that would suggest that around every 1 in 100 properties is a second home for someone. I would imagine most are owned by baby boomers.

There are a great many people in their thirties and forties who have been speculating on property. It's not specifically 'baby boomers'. Many of these people are in fact cautious about gambling on property because of austerity they experienced in their childhoods, and because in general they were taught not to get into debt. I know few people of that generation who have bought a second property – most have not. :cool: