Resentment of this generation

Graham_Devon

Really2 wrote: »

Servicing debt is about the same cost for new buyers as at peak? Buyers dictate house prices.

If base rates were not as low as they are, more would have sold up by now. It's NOT just buyers who dictate house prices.

Silly thing to say, when we have people openly saying on here they won't sell for less than peak price, and are quite happy to hold on to it and rent somewhere else until they achieve a higher price.

I actually can't believe you are honestly sat there saying that its just buyers who dictate prices. Buyers dictate an element.

Really2

Graham_Devon wrote: »

If base rates were not as low as they are, more would have sold up by now. It's NOT just buyers who dictate house prices.

Silly thing to say, when we have people openly saying on here they won't sell for less than peak price, and are quite happy to hold on to it and rent somewhere else until they achieve a higher price.

I actually can't believe you are honestly sat there saying that its just buyers who dictate prices. Buyers dictate an element.

But they are where they are because of the economy graham.

So Buyers do dictate house prices a the moment, you keep on about how everything has been done to support house prices.

But if buyers do not dictate current house prices I presume purchased prices and all indexes are irrelevent.

aspirational selling prices are not setting the sold prices.

The truth is

Sell + Buyer + mortgage = Sale

But the Buyer sets the sold price, without their agreement and money their is no sale.

So current house prices are ware they are because it is at where those buying are willing to buy, not because of the base rate.

but back to the thread...

MikeR71

In this country we have become sheep. Sorry to say it so bluntly but it's true and I include myself in that.

Take a look at the continent. Look at the French, the Spanish, the Greek etc. They don't put up with their government imposing injustice on their lives. The least they do is go on strike.

Now what do we do? We know that a small minority got rich at the expense of the public sector worker. But what do we do? We moan and moan and then bend over. Too much apathy, that's what it is. This is what they have made of us. They have made us believe that there is nothing we can do; "we are in this together" and most of us just go along with it.

I fully support the strike by the teacher's union next week. I wish my colleagues in my organisation had the same guts.

serious_saver

As much as I hate to admit it I do resent earlier generations to a degree. Not the people who own their own home but the amateur BTLers. The one's who charge enough rent to cover their mortgage and still take home some spare cash. The one's who force me to pay more a month on rent than I would be paying on my own mortgage.

The only thing that separates us is that I can't get a mortgage with the kind of income multiples or LTV that they were able to get.

Percy1983

Really2 wrote: »

Sorry, but that's a bit like saying if we were not borne life would be easier.
We are mid bust and lending is tight, you are hardly too late. Do you wish you purchased 2007 instead?

If 70% own and 70% are only ever available it will always be the top 70% which buy.

That has not changed since your dad was borne, the number of people in competition has though.

No I wish I could have bought in 1999.

Being born 5 years earlier would have made my life so much easier.

Really2

Percy1983 wrote: »

No I wish I could have bought in 1999.

Being born 5 years earlier would have made my life so much easier.

Well I dare say not spending my school life living on a council estate would have helped me.

But that's life. It's sink or swim.

chazzee

I'm 29yo. I actually believe those being born now will have it even harder, with little financial support from the current young generation who are suffering now, and having to pay thousands for a comparible education that 35yo+ got for free. Does that seem fair? The older generation have ridden the wave, and borrowed heavily on their childrens credit card with the introduction of leverage in the 1980s.

Children now will need to specialise highly to differentiate themselves from a global population that is rapidly catching the western civilisation up. In order to specialise we need good education... but wait... that costs $$$$$$, and pushes you back again. Don't even think about buying a house until you're in your 40's, globalisation has made sure that it's well out of reach.

chucky

Graham_Devon wrote: »

If base rates were not as low as they are, more would have sold up by now. It's NOT just buyers who dictate house prices.

Silly thing to say, when we have people openly saying on here they won't sell for less than peak price, and are quite happy to hold on to it and rent somewhere else until they achieve a higher price.

I actually can't believe you are honestly sat there saying that its just buyers who dictate prices. Buyers dictate an element.

the large majority of mortgages are not linked to the base rate.

buyers do have a massive influence on house prices, probably as big as finance - where do you think demand comes from?

thorsoak

I still fail to see what we (the "greedy" generation) could have done to stop this rot. Should we have said "Oh no, we cannot ask that amount" when we put our original houses on the market? And what about my friends who have stayed in the same house for 48 years, and who paid off their mortgages 20 years ago? What do you suggest that they do/should have done?

ukcarper

Percy1983 wrote: »

Well that does go back to the whole 'you only sit at a computer, its not hard work' arguement. Maybe I will reword it.

I am doing tasks many of those before me could not, while many of them did tasks I can do.

You should think why you could do their jobs and they couldn’t do yours. The majority of people born in the 50s had as much chance of going to university or even getting A levels as winning the Lottery. The majority were branded a failure at 11 when they failed the 11plus. Do you think the thousands who ended up in factories or down the pit were less intelligent than modern children?