Resentment of this generation

grizzly1911

quantic wrote: »

Any more questions :P

Out of interest where did you live whilst doing all that saving ?

Really2

shortchanged wrote: »

As has the pressure on social housing.

Very possibly in my view, many grew up in social housing in the 60's and 70's.
Far more as a percentage of population than now.

Really2

ash28 wrote: »

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.

But if you ignore the 10 years of negative equity and weather they lost their house. They had it easy.

Cash-Cow_3

I bought my first house for about £44k with my wife, both aged 23 in 1992. If we were 23 now and on the equivalent salary of about £20k we could still get a mortgage on the same place. I fail to see what's changed.

quantic

grizzly1911 wrote: »

Out of interest where did you live whilst doing all that saving ?

Split between living with parents paying board and for food etc and half living in shared rented accommodation.

Pee

I've spoken to a lot of people in their seventies and eighties about house prices. Noone told me that it was easy when they were younger, some of them earned really low wages especially at the age they were courting and looking to marry and when the children came they managed on one wage as sometimes the wives wanted to go back to work but society wouldn't allow it. I don't think there was much of a benefits system to fall back on, if there was they weren't aware of it. They saved with a building society for the deposit and then used that building society for a mortgage, no choice, and they had already proved they could afford it. The mortgage was based on the man's salary on the assumption they would start a family as soon as they moved in. Their families fretted and expressed horror at the sums they were borrowing, often £750 - £3000, which sounds like nothing to us but honestly was at that time. At this time £100 savings would furnish a house cheaply. Wages were low and they didn't worry about not being able to afford a good holiday, a good holiday after all was a week by the sea in a caravan and the circus rather than non-stop entertainers for the children... I don't think we can compare our lives now to their lives then. Now if we make a mistake and end up reliant on a man who drinks the housekeeping, there is a way out and not a danger that the children will starve and needing to beg from the neighbours... If illness stops us working, we won't starve.

I'm not saying that it was all worse then, just that some things are worse and some things are better.

julieq

Mmmm, drinking the housekeeping. There's an idea....

quantic

THE_GHUOL_CENTIPEDE wrote: »

quit moaning and grow a pair. It's never been easy. Welcome to the realiy.

Speaking of growing a pair, post this on your real account, not a throwaway one you pu$$y.

diable

Cash-Cow wrote: »

I bought my first house for about £44k with my wife, both aged 23 in 1992. If we were 23 now and on the equivalent salary of about £20k we could still get a mortgage on the same place. I fail to see what's changed.

Whereabouts was that then as the certain places have risen faster.

cherylypop

Interesting debate. I'm in pretty much same boat-late 20s-paying extortionate >100% mortgage on house I paid 133k for in '07 and I would guess now worth 110k or so. Occasionally yes when work is rubbish it is easy to get annoyed at it, and yes it does seem slightly annoying after paying myself through university, having a decent paid job and struggling whereas previous generations seemingly could pick up a house while working part time as a lollipop lady but really life is too short plus most people I talk to struggled at some point. We're not the first generation for this to happen to and we won't be the last-hundreds of thousands of people are in same boat. My dad got well and truly stuffed by it the last time round (so yes I maybe should have seen the signs but last time round I was 10-and hindsight is a marvellous thing). I don't want to be working in the job I'm working in for the next 40 or 50 years, and yes in negative equity but seems like feeling bitter at whole generations is a bit of a waste of energy-I am choosing to overpay-not loads-as much as I can-to try and get that mortgage down. Maybe I am naive/deluded but I tell myself that this will give me a better chance of having choices in the future and to be one of those people with house worth lots and seemingly tiny mortgages. Pretty sure it will happen if we just ride out the storm.