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Debate House Prices
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Resentment of this generation
Comments
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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.
Perhaps they have worked 3 times as long?"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 -
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.
1995 was a trough after about 5 years of falling prices. They were higher in 1991 when I bought my first house, and mortgage rates were 14%.
The real terms mortgage cost for a first time buyer in 1991 was probably higher than now.0 -
they only fell for 18 months i believe, they then stagnated or rose slowly for 4/5 years.1995 was a trough after about 5 years of falling prices. They were higher in 1991 when I bought my first house, and mortgage rates were 14%.
The real terms mortgage cost for a first time buyer in 1991 was probably higher than now.0 -
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.
We have a son due to go to uni this year and a daughter in 2013.
For both of them we had provided a line of funding that would have helped(not pay for it). That was torn apart by the introduction of fees ,the collapse in assigned assets due to the banking crash and will be further impacted by the increases which I think are ridiculous and ill thought out.
We are resigned to the fact that we cannot now do as much as we would have liked but will help out where we can.
I am as concerned for, as you have pointed out ,the position they will be put into. For the vast majority of graduates I think they will be worse off than if they had been able to enter the jobs market and work their way up. But for all sorts of reasons they don't have that option anymore. I don't see why so many middle ranking roles need degrees it is total overkill.
It will be interesting to see if there is a U turn in the next 15 months.
Change is a fact of life and we have to adapt and make the best of things."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 -
grizzly1911 wrote: »Perhaps they have worked 3 times as long?
That logic is flawed, if anything working for 3 times as long it would mean they own 3 times as much of a property not a property that is 3 times as expensive to buy.0 -
You wont get much sympathy from the older generations. They either don't care or don't realise that it's much tougher for young people these days.
The 80s recession was worse. As was the 70s. So, why should you get sympathy from those that had to put up with worse?
The biggest problem is that you have a generation that thought the credit induced boom was normality and were not prepared for recession.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
I haven't read the whole thread, so apologies, but it seems to me that every generation will blame another, or someone else for the problems they face.
That will do nothing to address the problems faced.
Recent generations probably blamed their forebears. And so on.
Blaming others & refusing to take responsibility is what got us into this mess. It is unlikely to get us out of it.
We're all human. We all make mistakes.
Lets move on eh?It's getting harder & harder to keep the government in the manner to which they have become accustomed.0 -
and spoil the next 17 pages of this thread. get a life sunshine, get a life!!lemonjelly wrote: »Lets move on eh?
it's been quite entertaining reading people's excuses why they feel hard done by.0 -
That logic is flawed, if anything working for 3 times as long it would mean they own 3 times as much of a property not a property that is 3 times as expensive to buy.
Not really only that they have 20/30 years of mortgage paying under their belt. I am sure that they didn't expect to be in the position they are now.
You don't know where you will be in another 20+ years.
Just because things are bad now doesn't mean they won't improve.
Even if housing doesn't give you the growth you expect doesn't mean your own personal circumstances aren't better (or worse).
As another poster has pointed out interest rates rose to 14% in the early 90's."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 -
and spoil the next 17 pages of this thread. get a life sunshine, get a life!!
it's been quite entertaining reading people's excuses why they feel hard done by.
Isn't it funny how everyone is so hard done by? Every generation had their lot ruined by the previous one/two?
Someone recently posted a thread asking who the winners will be. If you read this thread, the answer is clearly - nobody, as some f***er ruined it for everybody!It's getting harder & harder to keep the government in the manner to which they have become accustomed.0
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