The generation poorer than their parents

DervProf

geneer wrote: »

Eau de boomer

Nice phrase geneer.

The new fragrance from Chanel ? :rotfl:

I wonder if they'll do Parfum de Bear, or Essence of Bull (we know what that is likely to smell like).

geneer

Rinoa wrote: »

You have to understand that being a boomer automatically makes you geneer's enemy. You're sitting comfortably in a house he should have bought 10 years ago.

Rinoa/AKA Columbo
Status: Retired.
Eua de Boomer: High

geneer

ukcarper wrote: »

can you please explain.

Sure.
Serendipitously find yourself in a fortunate position where its easy to judge others.
Absolutely hates to be contradicted.
Enormous sense of entitlement and self regard.

That about cover it?

ukcarper

geneer wrote: »

Sure.
Serendipitously find yourself in a fortunate position where its easy to judge others.
Absolutely hates to be contradicted.
Enormous sense of entitlement and self regard.

That about cover it?

Now point to post that reinforce your argument

DervProf

geneer wrote: »

Sure.
Serendipitously find yourself in a fortunate position where its easy to judge others.
Absolutely hates to be contradicted.
Enormous sense of entitlement and self regard.

That about cover it?

I'd say it does.

Imagine for one moment that HPI suddenly reaches 20% per annum for the next 4 or 5 years. No doubt the usual suspects will still be saying "it's always been difficult to buy a house, do what we did and work/save hard. Buy now or miss the boat." etc. At what point will these people who have seen large increases in the value of their property(s) have any regard for anyone else but themselves ?

robmatic

geneer wrote: »

Absolutely hates to be contradicted.
Enormous sense of entitlement and self regard.

:rotfl::rotfl::rotfl::rotfl:

ukcarper

geneer wrote: »

Sure.
Serendipitously find yourself in a fortunate position where its easy to judge others.
Absolutely hates to be contradicted.
Enormous sense of entitlement and self regard.

That about cover it?

Now point to posts that reinforce your argument

ukcarper

DervProf wrote: »

I'd say it does.

Imagine for one moment that HPI suddenly reaches 20% per annum for the next 4 or 5 years. No doubt the usual suspects will still be saying "it's always been difficult to buy a house, do what we did and work/save hard. Buy now or miss the boat." etc. At what point will these people who have seen large increases in the value of their property(s) have any regard for anyone else but themselves ?

Just how easy do you think it was to buy a house in the 70s? I bought in 72 House prices increased faster in 72 then they have done since in fact at the end of 72 annual hpi was 42%. You had to put down a deposit and it was impossible to save quick enough. Now you can borrow 4x joint income then you were lucky to get 3x so even though houses may have been 30% cheaper you still couldn’t borrow enough. If you got a mortgage the interest rates were so high you would be paying the same or a larger percentage of your take home pay on the mortgage than you would now.

That doesn’t mean I think it is easy to buy now I appreciate that it isn’t but what annoys me is that people like you seem to think we were almost giving a house.

ILW

Why doesn't Geneer just buy himself a house. I am sure he would be much happier.

zagubov

Go back to 1970s in the UK (or at least Scotland) there was a shame of debt that nobody seems to remember.

People rented or lodged or lived with relatives until they could scrape a deposit of about 40% and then it as acceptable to get a mortgage for the rest. If they didn't gather that much together they didn't buy -and loads of people rented all their life- they may not have had property but they had the pride of not being indebted.

A major change has been the social engineering of the rental market to remove the stigma of debt ( and not just mortgage debt). All those 95% and 100% mortgages that took off over the last few decades helped fuel this HPI.