'Baby-boomers own half of Britain's wealth' telegraph article today.

Graham_Devon

BACKFRMTHEEDGE wrote: »

urrrr you are a STRer! You are trying to profit at this generations expense! You still own part of your old houses garden so you can sell it at the maximum amount to some poor folk who currently have only a yard. You are renting in the" hope" that you can buy cheap.I think you are exactly the Baby Boomer that this book about. YOU ARE why you son can't afford a house.:rotfl:

You really don't get it do you?

Fool.

Since when did I STR? No one told me.

Mind, if I did STR, I may have enough for a P reg Rover 200! Good times.

ukcarper

abaxas wrote: »

Yes,

But a small group spoil it for the rest. Like the people who bought up all the salt/bread at the supermarkets.

Maybe we need controls to stop speculation in a short/medium term?

You could be right but a lot of people on here seem to be blaming everybody especially the babyboomers.
Isn’t that like saying all teenagers and no good for nothing hoody wearing layabouts?

chucky

DaddyBear wrote: »

Do you not agree that the number of people bying up property as an "investment" has increased drastically over the last 10 years, as has the number of people with second, third, fourth homes???

No - BTL has not had the impact that you're trying to portray.

Other factors had a bigger impact.

ukcarper

DaddyBear wrote: »

Do you not agree that the number of people bying up property as an "investment" has increased drastically over the last 10 years, as has the number of people with second, third, fourth homes???

What this country needs is large taxes on second homes. There is a potential housing shortage and reducing the number of houses that lay dormant for a large proportion of the year is a must.

It probably has but it’s still a small minority

abaxas

ukcarper wrote: »

You could be right but a lot of people on here seem to be blaming everybody especially the babyboomers.
Isn’t that like saying all teenagers and no good for nothing hoody wearing layabouts?

The boomers had it easy through wage inflation. Who knows what the current generation will have. Ironically state collapse would problably be the best overall outcome for them, but obvouly not for anyone on a pension.

Who knows what the next 20 years will hold, but I can 100% guarentee that any gold plated pension will be savagely eroded by infation outstripping the indexing on it. Or simply they pensions will be defaulted on.

It's going to be interesting, so if you are young, my advice is... Protect yourself by investing in your future, not someone elses!

ukcarper

abaxas wrote: »

The boomers had it easy through wage inflation. Who knows what the current generation will have. Ironically state collapse would problably be the best overall outcome for them, but obvouly not for anyone on a pension.

Who knows what the next 20 years will hold, but I can 100% guarentee that any gold plated pension will be savagely eroded by infation outstripping the indexing on it. Or simply they pensions will be defaulted on.

It's going to be interesting, so if you are young, my advice is... Protect yourself by investing in your future, not someone elses!

I wouldn’t say the boomers had it easy wage inflation might have reduced their mortgage payment but that is not everything. Try saving for a deposit when houses prices double in a year that’s hard even when wage inflation is 15%.

DaddyBear

ukcarper wrote: »

You could be right but a lot of people on here seem to be blaming everybody especially the babyboomers.
Isn’t that like saying all teenagers and no good for nothing hoody wearing layabouts?

The baby boomers are not being blamed. Its just being pointed out that they have had things a lot easier than the current generation will. Benefiting from HPI is one of the reasons for this, although they didn't neccesarily cause it.

Kohoutek

By far the most scary thing about baby boomers is the effect on the public finances by this population group retiring - just look at the amount of money the state spends on the elderly already - a huge proportion of the NHS budget, the state pension, pension credit, attendance allowance, local authorities paying for residential care etc + absurdly generous and unnecessary benefits like free bus passes, free TV licences etc. At the same time, our provisions for people who have been forced out of work are pitifully low, i.e. £60/week in JSA.

CLAPTON

The price of first time buyer properties is determined by the ability and willingness of the buyers to buy and the willingness of the sellers to sell

I would guess that both buyers and sellers of these first time buyer properties would not be baby boomers.

So the HPI for lower priced properties was caused by the people buying and selling ..i.e the post baby boomers.

The prices of the higher valued houses are largely determined by the prices of FTB homes as most people have to sell their existing house and top the mortgage to buy the higher priced property.

So if FTB prices dropped or at least stabilised then so would hgher priced properties.

This price inflation has a number of causes which have been well rehersed
- ready availability of mortgage money
- shortgage of housing
-single people buying property were formally they would have stayed at home or flat shared
-greater willingness to use more of their income to purchase

etc

none of these were specificaly caused by any one group of people and certainly not in a planned way

we can reduce the price of property easily with the political will
-build more properties
-limit on the earnings/mortage ratio
-don't allow two peoples' income to count towards affordability

baby_boomer

Until the baby_boomers, old people tended to live in poverty - and had to be subsidised by their families and the state.

Don't forget that capitalism and inventions will grow the world economic pie - so the younger generations will catch up.

It's just unusual that younger generations are starting with a handicap.

But you could actually argue that this makes things more equal in the long term between the generations - not the other way round.