Resentment of this generation

shortchanged_2

Really2 wrote: »

Yet the number of single people has increased.

As has the pressure on social housing.

The_White_Horse

the point is this: people who bought houses in the late 70's and early 80's and paid say, 15k for them (earning 5k a year at the time), were in the late 90's and 2000's probably earning well in excess of 30k. maybe even 40k and 50k.

people who bought those same houses for 300k in 2007 (earning 40k) will probably never earn 600k - ever.

that is the difference. that is why living standards will never be the same. if in 20 years time, you think the average wage will be 600k a year or even 1.2m a year - then we will all be laughing.

wymondham

Each generation thinks the previous one had it easier and resents them - for many things!

grizzly1911

The_White_Horse wrote: »

the point is this: people who bought houses in the late 70's and early 80's and paid say, 15k for them (earning 5k a year at the time), were in the late 90's and 2000's probably earning well in excess of 30k. maybe even 40k and 50k.

people who bought those same houses for 300k in 2007 (earning 40k) will probably never earn 600k - ever.

that is the difference.

Isn't that the reason house prices are falling and stagnating in most of the country leaving London and the SE out of it.

You can't blame the peole who brought the houses in the 80's for the problem. We brought in the market availabel to us at the time when property was going up at probably 5% a month for a period.

grizzly1911

Really2 wrote: »

Start saving for it is he best advice, that's what we did.

children have never been cheap.

And it never stops going up;)

OP I am sure you will adapt and cope, you are not the first to feel like that.

Camping gets fun after a while honest.:)

chucky

wotsthat wrote: »

I know someone who has just finished an apprenticeship (works in a car factory) and has just bought a 3-storey new build with his girlfriend (works in a pound shop). The house costs £105k - he's saved since his apprenticeship started and the builders have, I think, paid 5% towards his deposit.

He's 19. Funny thing is he doesn't appear to be resentful of previous generations at all.

As Julieq said earlier it's about winners and losers. Winners are those who make the best of the circumstances they find themselves in.

Luck helps but it's not something that can be relied upon.

that's the thing, it is about winners and losers.

winners will make the most of their opportunities at the time whilst the losers will blame everyone else instead of trying to make the best of a situation and improve.

“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”

quantic

At the start of 1995 the average house price in the UK was £51,084, today its £162,379 and thats after a drop from £184,131 in 2008. No wonder the people who didn't buy in 1995 cry everyday on Housepricecrash. You'd have to of seriously !!!!ed up in life if your not financially set having bought prior to 1995.

quantic

grizzly1911 wrote: »

And it never stops going up;)

OP I am sure you will adapt and cope, you are not the first to feel like that.

Camping gets fun after a while honest.:)

Ah I'm sure I will, guess I just find it frustrated having older generations tell me I don't know I'm born while they live in a house 3 times as expensive as mine, working part time to keep them active.

quantic

Not to mention the fact that the next generation are now saddled with 10-40k in student debt. Great, so gotta buy a house that cost 6.6 times or more the average salary while paying back the loans for a degree that is worthless. Thats one thing that previous generations will not have had to deal with.

reeac

julieq wrote: »

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.

Not exactly a cast iron proof. I believe that there's enough vested interest in the system [principally from existing owners] to keep prices high. A rough analogy to your reasoning would be: I pressed on the accelerator and the car increased in speed but when I took it off it didn't slow down so it can't be the accelerator that caused the speed increase ... [ignoring the fact that the road is now downhill].