The generation poorer than their parents

ILW

HAMISH_MCTAVISH wrote: »

I remember going over to my mates house when he bought his first flat.

For the first year or two it was milk crates for chairs, and a big old box with a sheet over it for a table.

Like I said, this wasn't the majority, but it was a significant minority.

And I don't see anyone living like that these days.

Sorry, the not" so common comment" was for the previous post about buying at 19.

Im with you, for my first 10 years of ownership I had nothing but second hand stuff.
Didn't help that I bought in 1990 just as the market collapsed and IRs went into double figures for years.

StevieJ

HAMISH_MCTAVISH wrote: »

Graham,

How many home buyers do you know today that have to sit on old milk crates for chairs for the first few years because they can't afford furniture? That don't own a TV because they can't afford one? That don't have central heating, and huddle around a coal fire in one room of the house wrapped in blankets every winter because it takes years of promotions and/or payrises before they can afford to heat the house properly?

These were the types of sacrifice many people used to have to make to own a house. Not everyone, but a reasonably large percentage.

I don't see anybody making those sacrifices nowadays.

That reminds me, much underrated

http://www.youtube.com/watch?v=5MCbmEXQOAg

adam611

LilacPixie wrote: »

haha I had plastic B&Q garden chairs I liberated from my parents :rotfl: and that was 2003.

When I bought my 1st house I had my bed, bedding, and a toaster. :rotfl::rotfl::o

The good times I had a donated bed a one hob camp stove a toaster and kettle, man did I get through a lot of beans on toast!

About 3 years ago most of my income was taken up by bills and paying off credit cards etc leaving me with very little disposable income. I was round at my nanna's and remember complaining I had no money, she casually told me that when she and my grandad first got married they didnt have meat everyday as they couldn't afford it. That put things into perspective for me and Ive not complained since!

HAMISH_MCTAVISH

adam611 wrote: »

when she and my grandad first got married they didnt have meat everyday as they couldn't afford it.

I remember my grandparents being horrified at me making a 'long distance' phone call to the next town (30 miles away) during daytime "expensive" rates.

That was in 1985.

The young of today cannot imagine what life was like back then, and how much more expensive the basics of life were.

wymondham

MacMickster wrote: »

Perhaps, rather than merely increasing the retirement age, we should be encouraging those in their late 50s and 60s to semi-retire, paying a smaller pension to those who are prepared to cut their working hours by 50%, freeing up jobs for the youger generation.

Excellent point. There are not enough jobs around for those into their 70's and school leavers - often looking for the same type of job..

Generali

HAMISH_MCTAVISH wrote: »

I remember my grandparents being horrified at me making a 'long distance' phone call to the next town (30 miles away) during daytime "expensive" rates.

That was in 1985.

The young of today cannot imagine what life was like back then, and how much more expensive the basics of life were.

It is amazing how much cheaper food, technology, clothing etc have become over the past 30-40 years.

Some of that is down to privatisation: phone calls, gas and electricity prices have risen by far less than inflation and the service has increased immeasurably. In the early 1980s it took the post office 18 months to install a new phone line!

Dave101t

poorer now? the benefits system was never as generous as it is today.

They had to endure war and food rationing, and ilness we have treatments for.

we have to pay tuition fees and get 50 year mortgages (well soon).

its all swings and roundabouts.

Percy1983

The biggest difference, now is at 18 I had no chance of buying a house never mind scrapping through and having to sit on boxes.

Yes of course I already own a TV its a cheap method of entertainment for all those nights in I have to have saving for said house.

Yes by the time I buy a house my income wil be enough for me to blitz ikea a few times over the first year, but thats because I won't be buying until I am 28/29 and have upped my income massively up until that point through much hard work.

ILW

Virtually nobody expected to buy at 18, 20 or 30 years ago. What are you going on about?

FTBFun

Percy1983 wrote: »

Yes by the time I buy a house my income wil be enough for me to blitz ikea a few times over the first year, but thats because I won't be buying until I am 28/29 and have upped my income massively up until that point through much hard work.

I bought my place at 28. You seem to think you're in the minority here.