Generation Whine

StevieJ

Graham_Devon wrote: »

Either I'm catching on, or it's all just so predictable.

The simple truth often is.

Graham_Devon

StevieJ wrote: »

The simple truth often is.

Simple being the operative word here.

The "who inherits the assets" line simply dumbs down any actual discussion of the current issues.

It's as if as someone will be inheriting something at some point, everything is ok, and all the issues those people face today are somehow aliviated by the fact that when their parents die, they might get some money.

Generali

The reason baby boomers hold most of the wealth in the UK is simple, it's compound interest. They've saved through pensions and house purchase but haven't started to run down that wealth through paying for retirement for the most part.

MRSTITTLEMOUSE

A._Badger wrote: »

I'm trying to think of a time in history when older people didn't run the show and 'have all the money'.

For heaven's sake, Mose Allison wrote 'Young Man Blues' in the 1950s. It's well worth a listen and makes a pleasant change from the high-pitched whine that emanates from so many of these threads.

So true.
Every generation wants what the one before them has,without realising how hard it was to get in the first place.
I know lots of people my age (mid 50s) with sod all as well because they spent it all when they had it and now they moan too as they realise they don't have the time left to save for later on.
Not all people of my generation bought houses you know,like people feel the need to do today.
It wasn't that easy for us back then either to buy a house most people I knew had to live in with the parents for years (to save paying rent) as we needed huge deposits.
Life has always been tough for most generations believe it or not.

RenovationMan

Graham_Devon wrote: »

Did you know that kids are more than often bailing out parents now?

Was an article on it not all that long ago. Main reason, was again, house prices. It's caught out the older generation too, especially those who have re-mortgaged.

They find themselves with a house, but no money to live on in retirement.

This is slightly similar to the situation my parents were in. They had retired with state and some private pension provision but found that they couldnt afford the upkeep of thier home. When the front windows needed replacing they did an equity release to pay for it, though then had to find money for a mortgage. The house developed a damp problem (DPC failed in places and my folks kept the heating low to save money) and the windows/door at the back of the house also needed to be replaced. They were looking to equity release again.

When I found out all this, I formulated a plan that resulted in us all living in the house we are in now, though they are a self-contained annexe part that used to be a stable block (currently in the process of being renovated, hence my username). They also had a large overdraft and credit card bill that they paid off when they sold the house.

Its working out really well and everyone is happy with the arrangement. We get to have bought a larger house than we would normally have afforded and have free childcare, my folks get to pay off their debts and are now secure inthe knowledge that they are free from financial worry for the remainder of their lives.

Percy1983

This whole the younger generation have better technology arguement doesn't sit well with me. Yes in many respects I would have had a better childhood than my parents due to better living standards and technology. But on the the same front when my mum and dad where the age me and my better half are now they could easily afford a house without highly paid jobs and already had me and my brother. So yes my generation may have better technology to play with but the fundamentals like housing are no longer affordable. Personally me and my other half are doing well for ourselves and can afford to buy in the current market and will be doing. Yet my brother who has worked hard is completely froze out of the market.

Back to why the 'you have better technology' arguement doesn't sit with me. I look forward to having a child laughing as I tell him when I was his age I had to put up with a 40" 1080p LCD TV and an 8mb internet connection. Technology moves on, deal with it.

StevieJ

Percy1983 wrote: »

This whole the younger generation have better technology arguement doesn't sit well with me. Yes in many respects I would have had a better childhood than my parents due to better living standards and technology. But on the the same front when my mum and dad where the age me and my better half are now they could easily afford a house without highly paid jobs and already had me and my brother. So yes my generation may have better technology to play with but the fundamentals like housing are no longer affordable. Personally me and my other half are doing well for ourselves and can afford to buy in the current market and will be doing. Yet my brother who has worked hard is completely froze out of the market.

What are you going on about? If your brother is froze out of buying a property in Oldham he must be on the social.

http://www.rightmove.co.uk/property-for-sale/property-30444176.html

http://www.rightmove.co.uk/property-for-sale/property-26497582.html

pinkteapot

My parents married in 1973 and bought their first place near a market peak; maxed themselves out and what they could afford was a two-up two-down terrace that needed complete renovation. They were both in office jobs and had been in work for around 6 years each. They sold it later in the 70s and lost a little as the market had dipped.

How many people these days expect to go straight into a two or three bedroom house on a single salary? How many expect to buy the house they grew up in at an earlier stage in life than their parents managed?

I don't know anyone from the baby boomer generation who had it easy during their 20s and 30s when their careers were starting out and then they had young kids to take care of. To everyone here in the same age bracket complaining about life today, let's all come back in 30 years and see how we're doing. No doubt my parents despaired of the state of the market in the early 70s; they simply couldn't have imagined how their position would change.

ruggedtoast

Percy1983 wrote: »

This whole the younger generation have better technology arguement doesn't sit well with me. Yes in many respects I would have had a better childhood than my parents due to better living standards and technology. But on the the same front when my mum and dad where the age me and my better half are now they could easily afford a house without highly paid jobs and already had me and my brother. So yes my generation may have better technology to play with but the fundamentals like housing are no longer affordable. Personally me and my other half are doing well for ourselves and can afford to buy in the current market and will be doing. Yet my brother who has worked hard is completely froze out of the market.

Back to why the 'you have better technology' arguement doesn't sit with me. I look forward to having a child laughing as I tell him when I was his age I had to put up with a 40" 1080p LCD TV and an 8mb internet connection. Technology moves on, deal with it.

Also probably both your parents didnt have to work full time to keep the family afloat and pay the rent / mortgage.

The parts of life that actually matter are security, some expectation that hard work will pay off, and and being with your family. Most people would happily trade their ipod for a tin bath if it meant an end to 6 months ASTs, and working all hours just to pay most of it back to your landlord and childminder.

Graham_Devon

My parents struggled, I can remember it.

My parents bought a house a year before I was born. They had me, and mum gave up work. No benefits back then, only child benefit, so it was all done on dads lorry driver wage at the time. They then had my sister. We then moved around 7 years later (mum then working a very small number of hours a week, just serving in a shop while me and sis were at school) and bought a bigger house.

All my mum and dad remember was struggling, and rightly so. BUT. They did all that on one wage, and a bit of pocket money for 2-3 hours a day serving in a shop as and when.

You simply could not do it now. Not even with all the extra benefits given.

So I do sympathise with how they struggled and did a damn good job with what they had. And that's what I think a lot of those of that age remember. What they cannot see is that what they did then ans struggled to do, is impossible to anyone starting out now.....at least, someone with the same sort of circumstances.