Baby Boomers Were More Financially Responsible

talexuser

The difference is that in the 60s we had a manufacturing industry and people with few academic qualifications could walk out of school into a job which after some years would enable them to get on the housing ladder, which was not completely out of reach by the type of bubble we have today?

jem16

Lokolo wrote: »

Do you have any stats on this? As from everyone I know of that age (apart from my mum), they had bought before 25.

The OPs view the all younger generation spend more and don't save is a ridiculous comment. I for one, do live at home and save £900/£1k a month. I do splash out every now and again (such as Christmas time ) but for most of the year I do save.

My parents, now in their 80s, bought at age 25, Mum and 28, Dad. Before that they lived with my Dad's dad.

I lived at home till I was married at age 24 and bought my first house just before we married. My husband was 27 and living away from home due to work.

My sons bought at age 24 and age 23 having lived at home up until then. Most of their friends bought at around the same age too.

ILW

talexuser wrote: »

The difference is that in the 60s we had a manufacturing industry and people with few academic qualifications could walk out of school into a job which after some years would enable them to get on the housing ladder, which was not completely out of reach by the type of bubble we have today?

There is stuff out there though, just not very fashionable.

MacyDs tend to get their managers from within and pay around 30k plus.

guitarman001

I'm 27, decent savings (almost same as gross salary) and living at home. No way can I properly afford a place to live. I hear the arguments about housing being more expensive back in the day due to high interest rates but I'd rather higher interest rates for 5-6 years than an 8-10x mortgage over 35 years like some I know of. Financial slavery, pure and simple. It's not my fault there aren't many jobs, it's not my fault there are so many unemployed and lacking in skills - these youngsters were still in the womb when decsions were being made and have been let down badly IMO.

So tired of hearing the 'get off your bum and save' line when I do this myself and still struggle to see the light at the end of the tunnel. I don't want to shell out a significant fraction of a million pounds plus interest on a run-down ex-council next to undesirables (live on one right now at home so I know the situation). The parents of 'children' my age turn a blind eye as long as they think there house is going up in value (greedy and shocking IMO). It's all a con, of course. I dont' need to spell it our, surely... and now that the market is tanking (certainly in real terms) I just don't see any point to buying in the near-term.

Starter places? You do realise if your starter flat costs £100k and a house you want costs £200k, then if prices double, the difference doubles and you're WORSE OFF. Complete con but this country is full of imbeciles who just love to talk about the value of their homes at dinner parties (the smart ones keep schtum). What do they think, that a studio flat will cost £1m as prices keep going up and wages don't match?

I know many engineers my age who 'back in the day' could get a semi in their early 20s and start a family. I'll never start a family as society (yes, people are also to blame for pushing up the cost of housing), government and property VIs have forced my hand, I can't afford it.

Pension? What a joke. I only pay in as much as my company matches.

Lokolo

ILW wrote: »

There is stuff out there though, just not very fashionable.

MacyDs tend to get their managers from within and pay around 30k plus.

Yeh which is all well and good for 1 person, but in general most people cannot get up to that sort of pay easily. Especially without going to university now.

guitarman001

http://www.glassdoor.com/Salary/McDonald-s-UK-Salaries-EI_IE432.0,10_IL.11,13_IN2.htm

Very rare though. Going to uni now? £30k+ debt?

gadgetmind

Lokolo wrote: »

Do you have any stats on this? As from everyone I know of that age (apart from my mum), they had bought before 25.

As I was born in the mid-60s, I don't fit into the usual boomer definition but I did buy my first house (3 bed semi) at age 24, and had paid off the mortgage by the age of 30. This was with close to zero help from parents other than them wielding the paint brush when required, and once lending us some money when the boiler exploded just after we'd had to sell the car to cover the next mortgage payment.

DiggerUK

GeorgeHowell wrote: »

.......But hey, it's Christmas (almost), so let's cut a little slack !......

I cast a pox on the idiots from the baby boomer years, as much as I cast a pox on Thatchers' children, and Blair's babies.

Trying to ya boo others, answers nothing, explains nothing.

Don't forget, "we're all stuffed in this together". So come on you turkeys, cut some slack. Merry Christmas to all.
..._

ILW

DiggerUK wrote: »

I cast a pox on the idiots from the baby boomer years, as much as I cast a pox on Thatchers' children, and Blair's babies.

Trying to ya boo others, answers nothing, explains nothing.

Don't forget, "we're all stuffed in this together". So come on you turkeys, cut some slack. Merry Christmas to all.
..._

True

People should just calm down and buy a house if they want to.

trets77

I'm sorry but when i stop seeing programs on the telly like Homes under the hammer , with a endless line of Baby boomers rubbing their hands at what rental income they can get off the younger generation then i might stop thinking they are not stealing off their children and grand children to fund a cushy lifestyle that will be beyond the reach of the "NINJA" generation, no matter how long they live or how hard they save.

Yes that is very generalised, but basically near the mark IMO.

The only way it will change is to stop the next wave of promised new homes being purchased by people wanting to buy to rent and live off the poverty of others. But of course even building these is opposed by the baby boomers who don't want anything built within 2 miles of their big garden. it not enough to monopolise the current housing stock it seems , you have to oppose the building of any more much needed houses for young families ect.

Also introduce rent control , abolish free TV licenses , winter fuel payments and free bus rides for those who own more than one house. Tax rental income from the first pound.

And after homes under the hammer we of course have a endless stream of baby boomers wanting know what the stuff in their house is worth.

and you wonder why the NINJA generation feel so alienated.