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Debate House Prices
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Resentment of this generation
Comments
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lostinrates wrote: »Agreed...but
some of the generation before are still taking more than ours will, I think they are part of the current so I think its fair enough to say...this is what you got, this is what you can no longer consider rightful to receive, to do that, and to see where we can change we have to look back a little.
As an example why is the state pension age increasing? as I understand the reason, it is because people are expected to live longer in the future. Where is the 'taking more than ours will'? they appear to be the same funds spread over a longer time frame. Other areas of loss may be simply a result of employers taking advantage of the post unionised neutered work force (e.g. final salary pensions).'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
As an example why is the state pension age increasing? as I understand the reason, it is because people are expected to live longer in the future. Where is the 'taking more than ours will'? they appear to be the same funds spread over a longer time frame. Other areas of loss may be simply a result of employers taking advantage of the post unionised neutered work force (e.g. final salary pensions).
Until the government u-turns...;)It's getting harder & harder to keep the government in the manner to which they have become accustomed.0 -
There's lots of thinks you could have bought "at the right time" and made a bigger fortune from.
Friends of mine bought a flat in the late 80's, couldn't afford the mortgage when rates went up to 14%, got their flat repossessed in the early 90's while in negative equity, and it took years for them to pay off the loan for a flat they no longer owned. The idea that the housing market was plain sailing/sure fire investment before 1995 is crackers
Which makes it all the more worrying with the stupidly high house prices we have had since the last lot of HPI.
Can people say for sure that interest rates will never go above 10% again?0 -
As an example why is the state pension age increasing? as I understand the reason, it is because people are expected to live longer in the future. Where is the 'taking more than ours will'? they appear to be the same funds spread over a longer time frame. Other areas of loss may be simply a result of employers taking advantage of the post unionised neutered work force (e.g. final salary pensions).
I'm not talking about ''need'' and this above is right...is we live longer we must provide longer.
I'm thinking more about means testing (which I also think might be right).
e.g. I don't think it right my parents, neither stinking rich, less so no they are divorcing, but neither ''poor'' should be getting a heating allowance when other people really need that money. I think that SHOULD be stopped for ''people like them'' and I think it will be stopped if the situation is similar for my generation. The same could be argued about state pensions I suppose....it already has for child benefit.0 -
Father died last year and we found some docs relative the first house they bought. 3 bed semi on an estate in Whickham (NE).
House cost £3950.
Ave salary in 1972 2,567.74
So 1.5x salary.
Same area today
House marketed at £199.950
Ave salary in 20010 £25,543
So 7.8x salary.
I'm expecting a riot.
Don't know about then, I can only comment on the P/E ration when I first bought in Oct 1988 = 4.8 and Now 4.4 , not to mention the interest rate differential :eek:(base rate 7.5% up to 15%, on the plus side limited MIRAS was still partially in existence.
http://www.lloydsbankinggroup.com/media1/economic_insight/halifax_house_price_index_page.asp'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
lostinrates wrote: »I'm not talking about ''need'' and this above is right...is we live longer we must provide longer.
I'm thinking more about means testing (which I also think might be right).
e.g. I don't think it right my parents, neither stinking rich, less so no they are divorcing, but neither ''poor'' should be getting a heating allowance when other people really need that money. I think that SHOULD be stopped for ''people like them'' and I think it will be stopped if the situation is similar for my generation. The same could be argued about state pensions I suppose....it already has for child benefit.
I couldn't agree more, but that is a fairly new addition, the situation with state pensions depends on where you cut off.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
I have a private pension
That's good because it will give you something else to fume at in 20 years time when it's performance is pants too.
Unless you have mega bucks to put in I am sure the Management Fees and commision will do their best to stifle growth.Also make sure you don't chop and change plans along the way.
Not being smug just giving you the benefit of my experience.:("If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
As all you have to do is pay back loan is pay 9% of your income over £21k you could just look it as a basic income tax rate of 29% then compare that to the basic tax rate of 33% in the 70s and you might feel a bit better.
Ah but don't forget NI went up to compensate for the reductions in tax in the interim and allowances never really kept up. Oh and married persons allowance went too.:rotfl: Do you remember the highly paid band allowance of £8500 for BIK -does that still exist, I know you still get taxed on the actual benefit?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
lostinrates wrote: »I'm not talking about ''need'' and this above is right...is we live longer we must provide longer.
I'm thinking more about means testing (which I also think might be right).
e.g. I don't think it right my parents, neither stinking rich, less so no they are divorcing, but neither ''poor'' should be getting a heating allowance when other people really need that money. I think that SHOULD be stopped for ''people like them'' and I think it will be stopped if the situation is similar for my generation. The same could be argued about state pensions I suppose....it already has for child benefit.
An interesting comment re means testing as I have a different take on it. I'm not a pensioner but do know several.
Pensions have for a good many years lagged behind pay, in the rate of increase. It's nice to see Government have reversed that now, just when pay inflation has collapsed;)
If you are reliant on state pensions for the bulk of your "income" then I would argue that the heating allowance was really an acknowledgement of that fact. It wouldn't have been good politically just to increase pensions. I know many that are reliant on it.
I have no issue in it been taxed as income rather than been handed out as a benefit.
A good number of pensioners have also provided for themselves and have savings above the means test level (far too low for their category IMO) that would be immediately caught. You may say well they have the savings, but they will already have paid tax on their income, from which they saved it, and many will be continuing to pay tax on the interest.
If they had simply p**'d it up the wall, instead of saving, then they would get not just the heating benefit but also many others.
Why shouldn't pensioners have some savings to use as they want?
Two example I can give you 1.) is an old lady who owns her own modest property and has modest savings who is totally reliant on OAP (witch she held of taking for 2 years to try and increase it's value) no other help apart from heating benefit and still pays council tax and property repairs etc.
Second old lady has no savings to speak of and no property. No housing tax, no housing costs, no council tax - admittedly gets DLA but her "income is over twice old lady one.
The system has got flaws all over it and the poor sops who have been careful all their lives are the ones that get punished time and time again.
That last paragraph also affects those of working age too.:("If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Father died last year and we found some docs relative the first house they bought. 3 bed semi on an estate in Whickham (NE).
House cost £3950.
Ave salary in 1972 2,567.74
So 1.5x salary.
Same area today
House marketed at £199.950
Ave salary in 20010 £25,543
So 7.8x salary.
I'm expecting a riot.
The average salary in 1972 was a lot less than £2.567.74.
Also average house 1972 £7.5k now £165k so your particular house has gone from being 33% of average house price to 20% more than average house price.0
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