Rift grows between young and old

brasso

quantic wrote: »

I don't mind that older generations have enjoyed a few booms. I'm not bitter, because frankly I would rather be young than have all the gold in the world.

What annoys me is when they think that they have been so smart, even someone on an interest only mortgage who's house has tripled in value and literally the only equity they have is through luck and good fortune.

Yet somehow, bewilderingly - they believe its down to them being so savvy and clever.

They could have bought a house with a 150% mortgage, overpriced, at asking price and they would still have worked out ok in the end.

But again it's the "they think that..." generalisation that just doesn't fit in with the inter-generational truth.

It's simply not true that the average middle-aged and elderly property owner crows about his/her investment smartness.

I've no doubt some do, but then so do some - indeed many - younger property purchasers. I share your irritation with this smug attitude but it's a vulgar characteristic of the "nouveau riche" whether they are 30 or 60 years old.

It's where this argument always breaks down for me. Let's agree to complain about annoying people who think the increase in their property value is down to their canny analysis -- REGARDLESS of age. Our experience may differ but I can't honestly think of one property owner I know, old or young, who
isn't aware that so far at least, they have been fortunate rather than clever. I daresay there are exceptions in both generations.

The other point worth making is that most of these properties currently owned by older people will surely pass on to the younger generation of their families so in most cases the increased wealth is not confined to the oldies.

wotsthat

brasso wrote: »

The other point worth making is that most of these properties currently owned by older people will surely pass on to the younger generation of their families so in most cases the increased wealth is not confined to the oldies.

...but them old bleeders live for ever these days.

It's not fair - us young 'uns should have had their money years ago but instead they keep plodding on wasting their money on Wurthers Original, Tena lady, Stones Ginger Wine and hush puppies.

The way I'm going my parents will skip me and pass their house to my kids. The jammy little s**ts.

Graham_Devon

brasso wrote: »

But again it's the "they think that..." generalisation that just doesn't fit in with the inter-generational truth.

It's simply not true that the average middle-aged and elderly property owner crows about his/her investment smartness.

I've no doubt some do, but then so do some - indeed many - younger property purchasers. I share your irritation with this smug attitude but it's a vulgar characteristic of the "nouveau riche" whether they are 30 or 60 years old.

It's where this argument always breaks down for me. Let's agree to complain about annoying people who think the increase in their property value is down to their canny analysis -- REGARDLESS of age. Our experience may differ but I can't honestly think of one property owner I know, old or young, who
isn't aware that so far at least, they have been fortunate rather than clever. I daresay there are exceptions in both generations.

The other point worth making is that most of these properties currently owned by older people will surely pass on to the younger generation of their families so in most cases the increased wealth is not confined to the oldies.

Excellent post, including your first.

Unfortunately, these types of posts only serve to attract even more scorn and immaturity. We seem utterly incapable of having a meaningful discussion on this issue.

ash28

wotsthat wrote: »

...but them old bleeders live for ever these days.

It's not fair - us young 'uns should have had their money years ago but instead they keep plodding on wasting their money on Wurthers Original, Tena lady, Stones Ginger Wine and hush puppies.

The way I'm going my parents will skip me and pass their house to my kids. The jammy little s**ts.

If we live into our 70s our kids will be in their 50s and the grandchildren will be in their 20s and 30s - who knows who the money will go to (if there is any), I would like to think our kids will be financially sorted by the time they reach their early to mid 50s.

It may well be our grandchildren who are the lucky s**ts....

I'd rather keep my Christian Louboutin than get Hush Puppies thanks......you'll have to explain about the rest - I've led a very sheltered life!

RenovationMan

Graham_Devon wrote: »

Excellent post, including your first.

Unfortunately, these types of posts only serve to attract even more scorn and immaturity. We seem utterly incapable of having a meaningful discussion on this issue.

Jeeze Graham, I think you need to look at your own culpability in this sort of thing.