How the baby boomers have stuffed the younger generation

ploder

I think a better thread title would have been: 'How the young are stuffed'.

ukcarper

Percy1983 wrote: »

I do wonder if the higher student fees may rebalance some of the problem, as mention it seems everybody has a degree where now where there is real implications of cost people will get more focus and many won't bother unless they have a focus.

By all means there is BTL landlords who are younger, but as most boomers could just cash the equity on there over priced house to do it (no hard work involved), yet for me to own more than one house it woukld involve a lot more work or a windfall/inheritance.

Where are they going to live after they have cashed in there equity.

ukcarper

Percy1983 wrote: »

I do wonder if the higher student fees may rebalance some of the problem, as mention it seems everybody has a degree where now where there is real implications of cost people will get more focus and many won't bother unless they have a focus.

By all means there is BTL landlords who are younger, but as most boomers could just cash the equity on there over priced house to do it (no hard work involved), yet for me to own more than one house it woukld involve a lot more work or a windfall/inheritance.

Lets take my example then I did an apprenticeship, which involved day release and evening classes and was still studying when I was in my late 20s. I now have 4bed detached worth about £280k and good 3-bed semi would cost me about £250k in would probably cost me at least £20k to move so thats 10k if I want to move into the same type of house you are buying.

Percy1983

ukcarper wrote: »

Where are they going to live after they have cashed in there equity.

They have a good amount of equity to cash yet, luckily debts will die with them so if they cash it all I will get nothing but I won't inherit debt, on the flipside there is a chance something will be left, if things are as they are currently I would let me brother take the lot.

ukcarper wrote: »

Lets take my example then I did an apprenticeship, which involved day release and evening classes and was still studying when I was in my late 20s. I now have 4bed detached worth about £280k and good 3-bed semi would cost me about £250k in would probably cost me at least £20k to move so thats 10k if I want to move into the same type of house you are buying.

Sorry I really don't understand what you are saying here, we talking moving costs, deposits or something else?

markharding557

julieq wrote

After all, 90% of babyboomers didn't go to university themselves, so why are you expecting them to pay for you to?

Once again i am not of the young generation who are affected by this.
MRSLITTLEMOUSE wrote

Realy well it's funny how when they started earning enough they started paying them back.

They are of the younger generation then not mine because anyone older than early 30's will have gone before student loans were bought in.
julieq wrote

Who was it who introduced tuition fees incidentally? Thatcher or Blair?

That was possibly the worst policy that blair carried out
Thatcher blair one and the same

BTL has not increased the price of houses by any significant amount

BTL goes a long way in keeping the market up they are direct competitors with ftb's so your assertion that blt has no impact on the market is incorrect.
Young People who are unable to buy are a major source of tenants.

ukcarper

Percy1983 wrote: »

They have a good amount of equity to cash yet, luckily debts will die with them so if they cash it all I will get nothing but I won't inherit debt, on the flipside there is a chance something will be left, if things are as they are currently I would let me brother take the lot.



Sorry I really don't understand what you are saying here, we talking moving costs, deposits or something else?

You are saying I could cash in the equity in my house and invest it. I am saying that if I sold my house and bought one like the one you are intending to buy I would have about 10k left after moving expenses, not much to invest in property I would say.

Percy1983

I am with you now, but say in my parents case they bought at £25k, by 2005 it would have been worth approx £85k to which they could have cashed approx 50k which would ahve been enough to get a BTL at the time, of course pushing it past 2005 will leave more and more equity to cash.

ukcarper

Where would they have lived if they had cashed in that 50k.

Percy1983

In the same house with higher mortgage payments...

ukcarper

So infact borrowing money to invest it BTL no different from someone without any equity getting a BTL mortgage.