£1.2tn given to old from young

StevieJ

treliac wrote: »

BTW, does anyone really expect that 18 yr olds should expect to buy their own home? There was never a time when this was an expectation!

What do you mean

Cheers,
Wayne Rooney

treliac

StevieJ wrote: »

What do you mean

Cheers,
Wayne Rooney

:rotfl::rotfl:

I was waiting for someone to point out the exceptions..... but what a role model to choose. :rolleyes:

Really2

Graham_Devon wrote: »

You could ask the question: "What is, or has been done by the baby boomers to secure housing and access to housing for their children and grandchildren".

I certainly do not know the answer (and inheritance is NOT it!!).

Come on GD how many times have you mentioned the bank of mom and dad for current deposits.

Or have you back out of that one as it does not suit this debate.

What is wrong with the older generations helping children with deposits, thus giving the wealth back.

Back when I purchased 9 years ago I did it on my own (mainly due to 5% deposit), but if it proved to be a struggle for my child in the future I would help. That is what parents do.

You cant ignore inheritance as it happens Graham, people die and leave money, more money than ever according to this thread so get use to it. Death and inheritance both happen.

Graham_Devon

I'm not ignoring inheritences. I'm saying that inheritances are not the answer to securing housing. Hence why I said "secure access to".

I'm not quite sure why everyone has to keep saying "I'm not saying...." after it's been twisited.

MRSTITTLEMOUSE

Graham_Devon wrote: »

What this thread has done I suppose, is shown how the two generations cannot see either side, which is what the programme did pick up on.

The whole "youth don't work hard" stuff is absolutely rubbish. There are youth's that are lazy as there are older people who are lazy.

The continual "we worked hard" gets a little tiresome. Can see why people say it, as they probably did work very hard, but then so do many many younger people.

I agree with you that equal amounts of young people work just as hard as older people.
I also believe it's down to family work ethics that have a lot to do with it.
I've seen families with grown up children who've spent their whole married lives on the social and those same people would condemn my own family(all who have been in work continuously from leaving education) for being comfortable.
You get from life what you put into it.

chucky

stueyhants wrote: »

I was not making the point that an 18 year should be able to buy a house today. I was making the point that when that 18 year comes to buy their first house in 'x' number of years it is likely to be more unafordable than it is now due to supply and demand and therefore they had a right to blame the current generation for not doing enough to prevent HPI.

doesn't this happen to all generations though?

it would only get easier if the owner occupancy rates dropped or more houses are built...

if that is the case everyone will have to agree with Hamish about his supply and demand theory. i don't totally agree with him btw.

StevieJ

treliac wrote: »

:rotfl::rotfl:

I was waiting for someone to point out the exceptions..... but what a role model to choose. :rolleyes:

He always comes over as a nice guy to me.

mbga9pgf

Sapphire wrote: »

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

Tell that to these lads
http://www.michaelyon-online.com/michael-s-dispatches/

stueyhants

chucky wrote: »

doesn't this happen to all generations though?
Yes it does, and I'm sure the next generation after this one will make the same argument.
it would only get easier if the owner occupancy rates dropped or more houses are built...

if that is the case everyone will have to agree with Hamish about his supply and demand theory. i don't totally agree with him btw.

I can accept prices can be maintained at current levels, I just can't see where they can go from here

Affordability has been maintained by
a) using a second wage
b) Relatively low IR

What else can we use to maintain affordability going forward, shared equity, 50 year mortgages ?

Really2

Graham_Devon wrote: »

I'm not ignoring inheritences. I'm saying that inheritances are not the answer to securing housing. Hence why I said "secure access to".

I'm not quite sure why everyone has to keep saying "I'm not saying...." after it's been twisited.

So what can baby boomers do can they personally build houses?

If we are saying house prices are down to supply and demand (praise the lord if you may have warmed to that). the only thing that can be done is for the recession to end so builders can get back to building.

Failing that perhaps they should not have had children.
(by that replacing 2 going out with 3 + grandkids is only going to make the problem worse.)

All to easy to play the blame game but I presume you are reasonably happy to be on the planet and alive.