Resentment of this generation

Running_Horse

Why is there an assumption that every generation will be better off than the last one? Late 20th century prosperity was built by people who started with nothing and built this country up from the rubble and near bankruptcy of a ruinous world war.

Why would you be so bitter towards them? What have you done to make this a better world?

Percy1983

shortchanged wrote: »

You've hit the nail on the head there Percy1983, it's the rise of the working woman that is the cause of HPI.

Sort of a chicken and egg arguement on this one:

My other half will have to work full time for us to afford a home so is it:

1) The rise in HPI is due to women working.

or

2) Due to the rise in HPI women now have to work full time.

Trust me if we had the option of one of us working part time and a home we would take it.

julieq

No it's not to do with lending - multiples have not changed significantly since the 1980s when rates were double what we'd consider "normal" now, and there is simply no evidence that self cert mortgages, high LTV and so on distorted the market. Proof? They're all gone now and prices are being sustained.

The relative changes in prosperity come mostly from globalisation and other peoples' standard of living rising relative to our own.

grizzly1911

quantic wrote: »

So my message to the previous 2 generations is, you want to try buying a house when average prices are 6-7 times the average salary. How the hell did some of you guys manage to screw it up?

I take it you mean themselves personally rather than for the nation as a whole.

People hit unforseen circumstances and need to bail themselves out, failed businesses, marriage breakdown, illness, loss of job etc.

Some people want to follow trends and continually have the best/newest of everything without waiting until they can actually pay for it and end up remortgaging.

A lot of older people were very very prudent just like you are being, and carried on being so and reaped the reward. Others p88d it up the wall but still get the benefits at the end of the day. Those prudent ones feel just as hacked off as you do no doubt.

When we took out our first mortgage we didn't know how we would cope either and we were restricted to 3.5x joint pay and 80/90% LTV as well. When we had our first child we didn't know how it was going to pan out. Ihave worked in underwriting and I don't know how you live on the multipliers of today.

We both worked hard and continue to do so, had career progression and haven't over committed ourselves. Yes we are comfortable but it wasn't by magic it was by controlling our position. We didn't ask for this to happen we just wanted a family home.

Oh BTW other "careful" investments made along the way have been shafted by the Global banking crisis so a lot of us will also be feeling the pain and loss.

Unfortunately globalistion as now taken over as previous poster has explained very well.

Dig in and get on with it you will look back and wonder yourself one day.

Graham_Devon

Really2 wrote: »

Do you not have to take in take in to account virtually everything else is cheaper than back then though.

Cars, Washing machines, Holidays, TV, Telephone, Food, cost to service debt, etc etc.

Anyone ever thought that of putting cost of living in to the mix.

I think like for like even with house price inflation cost of living (all costs) are lower than they were 30, 40 + years ago.

Excess money has a habit of making in demand items inflate.
Blaming generations seems a bit odd.

As has been stated several hundreds of times, every generation will look back and say their living expenses were higher when you base your expenses on technological products.

Everytime it's stated, it's also often ignored that 30 or 40 years ago, it was highly likely there was one wage, not two.

This generation has got iphones though. So to be honest, no generation has ever had it so good.

As I said on another thread. These discussions just go round and round and round. I could, and probably will, just paste my contribution from that one, onto here. Saves time!

vax2002

We had an industrial revolution where we manufactured goods and sold them all over the world.
These days as a country we can not even tie two stick together without the string been made in China.
Do you look where things are made ?
Nope thought so you just buy the cheapest, its a money go round, spend your money in China and you will have less jobs, less wage and less money to spend on a house.
Dont grumble, do something about it.
In the meantime China is building Aircraft carriers and spending the cash on building a huge Army of world class weapons to "enforce its interests"
Oh boy is it going to get interesting, one thing us mid aged ones have had is relative peace, I dont envy the next ones.

julieq

It did help, Vax, that we could plunder the world for raw materials.

Graham_Devon

My copy and paste...saves explaining the washing machine thing over and over, and getting in there before people start saying they went without.

These "when I was younger I lived hand to mouth" threads just go round and round in circles.

Whole lifestyles have changed. Just as they had changed 40 years ago when others were doing it. It's like your Granddad telling you "well when I was a lad, I was down the mine at 11 years old chipping out coal in the pitch black....you won't do that now, you want it all".

Lifestyles have changed with generations. To get to uni and get jobs you have to often leave your parents and rent. Yet now people are suggesting living with parents. To get a job, you often have to move, people tell people to move to earn more to buy a house, but the same people then turn around and say "well you should live with your parents if you want to save". Corr blimey, you can't do right for doing wrong.

They will tell you they never went on holiday. Yet I've heard all about the holidays people used to go on. Whole towns were boom towns for holidays. The difference is, the same money back then got you to Blackpool. The same money today get's you to Spain. Things have just moved on. Infact, it's cheaper often to go to spain now then it is to go to Blackpool for a week. People daming others for going on holidays seem to forget these differences.

My Dad is the same. He never went on holiday, knuckled down he did. But then insists on telling me "hey look Graham whats on TV, used to go there on holiday, how it's changed". But no, he never went on holiday!! He doesn't consider a holiday to North Wales as a "holiday". Yet the costs were the same back then as going to Spain now.

It's all very relative. Yet this whole iphone, don't go on holiday, don't go for a pee as we didn't even have pots to pee in back then and we bought is getting really tiresome.

As I said, my dad is the same, condeming the younger generation. Yet he took us on holidays (abroad). Took us out. Went to the pub. AND managed to buy the house I was born into, AND managed to pay for my mum to stay at home and look after me AND manage to have another kid.....and he just drove a lorry and did some odd jobs when he could. Worked damn hard and I won't deny that and never had any substansial savings of any type. But it's no different to the hours people do today. But even then its "oh, you just tap at a computer".

ukcarper

House prices are the most expensive compared to wages they have ever been apart from the middle of the last boom. But can someone tell me what the average person from the generations mentioned could have done to stop it happening.

Really2

Graham_Devon wrote: »

As has been stated several hundreds of times, every generation will look back and say their living expenses were higher when you base your expenses on technological products.

My response was not just technology though was it?

Cars, Washing machines, Holidays, TV, Telephone, Food, cost to service debt, etc etc.

Unless we have i-food, i-debt, i-holidays and i-mechanical items.

Sorry facts are facts, cost of living have decreased over the same period. Some on the list may have got cheaper due to technology but we now have many 2 car family's 2+ tv's etc.
So it is hard to argue cost of living has not decreased, seeing as these items have been around for 75 years+

Anyone would think there was a possible link?