Resentment of this generation

ukcarper

Percy1983 wrote: »

Times move on, I see resentment because we can go abroad for what blackpool would have cost you, We can have a TV in every room for what 1 TV would have cost you etc etc. I look forward to being old and being able to say 'I had to make do with a 40" 1080p LCD TV, as a child laughs at that statement'

As for expectations, all I want is a stable home for my wife to be and planned children.



Sell up the BTL empires or at least stop buying more.

Yea we all have BTL empires.

thorsoak

Kohoutek wrote: »

Are we supposed to feel sorry for how much your family earned in 1963? It's almost exactly the same as the average household income today.

http://www.measuringworth.com/ukcompare/



http://www.hiscox.co.uk/about-us/wealth-report/

Exactly. And we had a mortgage - without moaning about it! But a different attitude as to what comprised "essentials".

Kohoutek

thorsoak wrote: »

Exactly. And we had a mortgage - without moaning about it! But a different attitude as to what comprised "essentials".

I think the point some people would make is that to buy a family home in Greater London today, you might need to borrow more than £104,000 (your mortgage in 1963 was 3.3x your income, that is 3.3x your 1963 income in today's money). Obviously I don't know what kind of property you bought in 1963 though.

Conrad

[QUOTE=Loughton Monkey;44461854

]The 'financial position' of us older generations [which is how this thread started] somehow seems to be 'blamed' upon house prices and the general economic climate as it is today. Absolute rubbish!

..[/QUOTE]


This does not bare scrutiny. Look, back in the 80's it was relatively easy to find a plot / an old greenhouse site (I know dirt poor Italinas that bought greenhouse land no one wanted, for peanuts and who became millionaires due to the LUCK of the booms), all manner of opportunities that ordinary folk stumbled into. Fast forward to the noughties and those lucky folk have found themselves millionaires - I see this sort of thing all the time. One near me has just sold his garden on for a vast sum.

He is just an ordinary Joe who bought a very average easily obtainable place back in the 80's. He is not clever or canny and has not worked hard, it's just pure luck.

Now, here's the thing, I as a keen investor now just cannot find these sorts of property now - folk are much more wise to the potential of thier proprties and so finding that lucky gem is just almost impossible.


I have a right thicky builder type client not far from Loughton and again he just stumbled into bargains in the past, did them up and made himself a pile of cash - anyone could have back then but now it's very much harder. He lords it up as if he deserves what he has, but it was all just luck and right place right time. That grates on some.

It's for these sorts of reasons that there can be a tension. Smug people recanting tales of how they bouyght a nice detached way back when and now arfe able to sell off halve the garden. They speak as if they are canny and wise.

ukcarper

Graham_Devon wrote: »

The washing machine and holidays again?

Wow.

It's cheaper to go abroad now than it often is to holiday in the UK. The holiday industry was booming in the 60's and 70's I believe. There were entire sitcoms based on it. It's not like people simply didn't have holidays 40 years ago. Just the type of holidays has changed. But the money involved probably hasn't changed that much. In general, the brits are known for going on cheapo holidays to select EU regions. Just as they were known for going to (now run down as it's no longer viable) parts of the english coast. Blackpool, Bognor, North wales.

Todays generation have not got 2, 3D Televisions in the house. They don't have expensive natural ground heat pumped into their homes. They don't have solar panels on their rooves. They don't have whatever other technology is yet to become available at efficient price levels which makes it the norm.

No doubt we, as a generation however, will look back and say "we didn't have x, x, and x", ignoring the fact that it wasn't the norm, or even accesible to the masses in our day, and have a pop at the generation that has got it.

The foreign holiday boom started in the 70s.

I accept that houses are more expensive and it is more difficult to buy one now but what I want to know is what we were suppose to have done about it.

I have just lived in my house worked and paid the mortgage most of my friends have done the same. I know 2 people who rent out property one is a successful businessman in his 50s and the other is in his mid 30s and is an accidental landlord. So I say again what are we suppose to have done.

Percy1983

thorsoak wrote: »

Well actually, I don't have a BTL empire - all I have is a mortgage-free home, no money in the bank, and now, no OH.

And I'd swap with you in a heartbeat, if I could have OH back.

Like wise I would swap you, I would rather have a home than cheap TV's and available iPhones etc.

ukcarper wrote: »

Yea we all have BTL empires.

Really, its worse than I thought!

I was referring to a generation, to which many do have BTLs. Now as a generation you could put pressure on others of the same generation to actually think about the young (which in many cases include there children) rather than there own greed.

Percy1983

How do you become an accidental landlord? If inherit a house I will see 2 clear choices keep or sell, its not accident if I decide to keep it to fleece the young.

zagfles

FTBFun wrote: »

I bought my flat after getting fed up with housesharing, and also it was cheaper than renting an equivalent property.

I say again - how is it any of your business how people choose to live their lives?

You don't get it, do you? I'm talking about changing the incentives so as to reduce the demand. Not dictating what people can or can't do. In a similar way to, eg, hiking the tax on gas guzzlling 4x4's or reducing company car taxation on low C02 cars. Or giving tax breaks on pension saving, or gift aid etc.

If someone wants a 4x4 they are free to get one, and that's "none of my business", but by changing the incentives to make it financially beneficial to pollute less, we get less pollution. In the same way as reducing the incentive to waste property will result in less property being wasted.

One thing that could be done now is get rid of the council tax discount for single people. Council tax is basically a property tax, why should you pay less tax on your property just because you don't share it? If I have a bottle of wine to myself I don't pay less excise duty on in than if I share it with my wife. I pay the same road tax on my car whether I use it myself only, or share it. Why should a property be taxed less because it's only used by one person? That just encourages waste.

thorsoak

Kohoutek wrote: »

I think the point some people would make is that to buy a family home in Greater London today, you might need to borrow more than £104,000 (your mortgage in 1963 was 3.3x your income, that is 3.3x your 1963 income in today's money). Obviously I don't know what kind of property you bought in 1963 though.

http://www.rightmove.co.uk/property-for-sale/property-34149419.html

This house is actually three doors away from the one that we bought (new) in 1963. We sold in 1976 for £11,500, when we bought a wreck of 2 delapidated farm labourers' cottages for £8,000 which we converted into a family home for our family - increasing the mortgage as we virtually rebuilt it.

thorsoak

Percy1983 wrote: »

I was referring to a generation, to which many do have BTLs. Now as a generation you could put pressure on others of the same generation to actually think about the young (which in many cases include there children) rather than there own greed.

We did help our children with their deposits - which is why I now have no money in the bank! Maybe your parents won't/don't help you because they worry about YOUR greed!