Resentment of this generation

ash28

quantic wrote: »

At the start of 1995 the average house price in the UK was £51,084, today its £162,379 and thats after a drop from £184,131 in 2008. No wonder the people who didn't buy in 1995 cry everyday on Housepricecrash. You'd have to of seriously !!!!ed up in life if your not financially set having bought prior to 1995.

We had a house price boom in the late 1980s - courtesy of Mr Lawson..And a lot of people who bought in the late 1980s or very early 1990s were seriously !!!!ed for years. 1993 onwards was a good time to buy - a few years before that wasn't so clever.

We bought in the south east in 1988 for £80k - a nice 3 bed detached - we saw prices rise to the dizzy heights of £136k (our friends bought at that price, same house as ours), we sold it 1993 for £80k. The house was 5 years old when we bought it - the previous occupant had paid £23k for it brand new in 1983 - I wish!.

We bought the house we currently live in for £97k in 1993, that was around the bottom of the crash - the couple we bought it from had paid £168k. .Pre crash we couldn't have afforded it, with growing children we wouldn't stretch ourselves having lived through very high interest rates. We both worked fulltime. The original owner of the house paid £4k for it in 1966 - in around 20 years it had gone up by a factor over around 40.

Parts of the south east (where we live) were hit very hard during the last crash - other parts of the country barely noticed it.

In our area (outer metropolitan) prices were 5.4 times income in 1989 (according to Nationwide) and reached 5.8 times income in 2007 - it wasn't so very different - a lot of young people moved further west to Swindon and beyond - not too bad a journey to work on the M4 - they could buy a nice semi or detached house for the price they would have paid for a 1 bed flat here.

quantic

ILW wrote: »

Don't worry, it will probably happen again. It,s all a matter of timing and luck really.

Maybe I'm coming across wrongly, I am not angry by this because I am worried about my own personal circumstances, I just hate living in a society whereby we seem to be smug about other people not being as well off, especially if it is due to something that was not caused by your merit or personal effort.

Sort of like: "Haha, they work harder and have better jobs and we still have a nicer house than them."

I genuinely get the feeling a lot of people in their 40's to 60's feel good about their life because their house is worth so much and a lot of future generations can only dream of having it.

candygirl

quantic wrote: »

Its sort of the same kind of smugness as when someone tells everyone their parents are rich, even tho it just makes every think they did nowt to deserve it themselves, yet people still brag knowing people will think this.

Confusing.

I'm not smug at all.I don't have a pension, or much work at the moment so my house is basically all i've got:D:D

quantic

candygirl wrote: »

I'm not smug at all.I don't have a pension, or much work at the moment so my house is basically all i've got:D:D

My mistake, the language you used and smileys came across as quite smug. Easy mistake to make online when you can't see someone speaking.

Percy1983

quantic wrote: »

Maybe I'm coming across wrongly, I am not angry by this because I am worried about my own personal circumstances, I just hate living in a society whereby we seem to be smug about other people not being as well off, especially if it is due to something that was not caused by your merit or personal effort.

Sort of like: "Haha, they work harder and have better jobs and we still have a nicer house than them."

I genuinely get the feeling a lot of people in their 40's to 60's feel good about their life because their house is worth so much and a lot of future generations can only dream of having it.

I think this is the thing that gets me, I will say not all are like that as my mum can quite easily admit she got a better deal than I have on offer and she knows any smugness on her half about that fact would be wrong.

Being smug about things when we all had an equal chance is all fair enough, but the smugness mentioned above (which we see on here) is purely down to year of birth.

wymondham

dunstonh wrote: »

The 80s recession was worse. As was the 70s. So, why should you get sympathy from those that had to put up with worse?

The biggest problem is that you have a generation that thought the credit induced boom was normality and were not prepared for recession.

at last, a sensible comment on all this!

wotsthat

Percy1983 wrote: »

No ipods/iphones, rubbish size TVs, no holidays abroad and a home for my future wife and children.

Sounds fine to me, where is Doc Brown when I need him?

I was born in the late 60's. The 70's were s**t.

If you find Doc Brown in the 70's can you look up my dad and tell him about a hot new startup called Microsoft. He'll probably think you're mad but if you lead in with where he can get Tartan bitter or Double Diamond cheap you might get his attention.

quantic

wymondham wrote: »

at last, a sensible comment on all this!

I have no debt what so ever except my mortgage. Paid my student fee's off, paid my car off, no credit cards or overdrafts. Its still hard though it costs this much to buy a house.

grizzly1911

quantic wrote: »

Maybe I'm coming across wrongly, I am not angry by this because I am worried about my own personal circumstances, I just hate living in a society whereby we seem to be smug about other people not being as well off, especially if it is due to something that was not caused by your merit or personal effort.

Sort of like: "Haha, they work harder and have better jobs and we still have a nicer house than them."

I genuinely get the feeling a lot of people in their 40's to 60's feel good about their life because their house is worth so much and a lot of future generations can only dream of having it.

All we did was play the cards we were dealt in accordance with the given rules. You cannot blame us, generally, for that. We didn't engineer the circumstances.

A few will have gambled and made some money, IMO the majority didn't and live in their own "home". If they want to get dealt back in they will have a different set of cards and different rules to adopt to.

A lot will be asset rich but cash poor.

ash28

quantic wrote: »

Maybe I'm coming across wrongly, I am not angry by this because I am worried about my own personal circumstances, I just hate living in a society whereby we seem to be smug about other people not being as well off, especially if it is due to something that was not caused by your merit or personal effort.

The trouble a house is just that - a house - it is worth nothing until you sell it and have the money in the bank. Having a house does not make you well off.

A lot of people used to brag about their houses back then just the same as they do now - buying a house in the south east seemed like a license to print money - but people realised it wasn't a license to print money when prices crashed and lots of people were in negative equity. A lot of people learned a very hard lesson then - ourselves included.

We have a very nice house - it's served us and our family well over the years - but we can't pay the bills with a house or go shopping with a house. The idea behind us buying a house wasn't for any appreciation in value - the idea was that we wouldn't be paying rent in retirement - it was a means to an end. The people who will benefit from the house aren't us - it will be our children or grandchildren or a care home.

And to be honest who gives a !!!!!! about what people do or don't have - if people are so superficial and shallow they aren't worth knowing.