Over Privileged Boomers are not 'Sacred Cows': Wilby

ukcarper

"For example, between 1987 and 2006, house prices rose nearly 2% a year faster than real earnings. This was redistribution with a vengeance. In effect, Willetts calculates, something like an entire year's GDP was transferred to established homeowners from future homeowners"

That might be true but according the Halifax and Nationwide house price fell compared to wages between 1987 and 1994 so anyone who bought in the late 90s benefited the most and they could easily be under 45 now.

ruggedtoast

Some boomers work very hard. My in-laws have built their building business up from nothing and barely had a holiday til their 40s, but their increase in property wealth and the pensions they are soon to receive are significantly subsidised by riding a benign economic wave that has risen inexorably upwards since they were born. Further boosted by a corrosive and insidious housing policy designed to rinse housing's, mostly younger, have nots in favour of the housing have's.

They are not appreciative of this as they are used to having more money every year, they have never known a time when this hasn't been true for them.

In my personal experience as a salaried white collar employee, every company or organisation I have ever worked for has a fat layer of boomer middle management whose main roles seem to be making younger people redundant,cutting costs , and piling work downwards.

This cost cutting and austerity never seems to affect them, and its getting to the point where some places hardly have anyone under 40 working there.

I have worked in government organisations stuffed with middle aged middle managers who sometimes outnumber support staff. Often no one has had any idea what half of them actually do, other than ride their fortuitous wave of 30 days annual leave a year, incremental pay rises, final salary pensions, house price lottery win, job for life jackpots.

Its interesting that the people who are most anti public sector are most pro boomer. This isn't confined to the public sector either.

You can't have it both ways.

Its all very well going on about the 'green with envy generation' who won't knuckle down and work in comparison to their boomer betters. But this really isn't supported by many of 'our' experiences in the white collar working world working alongside, and for, often ineffective, unproductive, and vastly over remunerated late middle aged management.

nearlynew

I'm a "boomer"

And anyone who thinks it's easier for youngsters today than it was when I was younger is talking out of their 4rse.

System

ruggedtoast wrote: »

That makes you look really smart.

He is smart.
Displacement is a neat explanation.

Graham_Devon

I think the problem with all these discussions is acceptance.

There isn't any. Theres just easy abuse and name calling. The actual debate is quickly forgotten. You've got a few of the boomer generation who will stick their necks out and say "hey up folks" only to get their neck sliced before they have finished by their co-boomers.

No one ever suggests boomers all sat around and didn't work hard. All people are saying is yes, they worked hard, but will reap so many more rewards for the same work as those following today, and still get protected.

At least we have Iphones. That's all I'll say.

ukcarper

House prices did get very expensive in late 2000s but boomers weren’t the only one to benefit from that. I accept that young people are finding it very hard today but by young I would say under 30 not 45. Also I don’t think house prices were the main benefit we had if you look at the graph you will see there have been times in the past when house prices have been this high. A lot depends on the time you bought your first house and in most peoples case this is determined by personal circumstances not the price of a house. I’ve said this before but I think the main problem facing young people is finding a good job and that has been caused by many factors. I would willingly accept the granny tax and give up my winter fuel payment if I thought the money would go to help young people but I think with this government it is more likely to be used to benefit the rich.

Sapphire

Graham_Devon wrote: »

I think the problem with all these discussions is acceptance.

There isn't any. Theres just easy abuse and name calling. The actual debate is quickly forgotten. You've got a few of the boomer generation who will stick their necks out and say "hey up folks" only to get their neck sliced before they have finished by their co-boomers.

No one ever suggests boomers all sat around and didn't work hard. All people are saying is yes, they worked hard, but will reap so many more rewards for the same work as those following today, and still get protected.

At least we have Iphones. That's all I'll say.

The point you are missing (presumably because it suits you, or perhaps because you are ignorant) is that the explosion in housing prices happened during the last 15 years – so was brought on by people younger than 'boomers'.

Why do you never blame what happened on events during the last 15 years – so greedy speculators, people who over-borrowed, bankers, and so on? Why target your parents' generation? Do you despise your parents, or what?

You simply don't make sense. You need to read up on your social history of the 50s, 60s and 70s – presumably you didn't study the subject at school.

And envy is not an attractive trait...

ruggedtoast

Sapphire wrote: »

The point you are missing (presumably because it suits you, or perhaps because you are ignorant) is that the explosion in housing prices happened during the last 15 years – so was brought on by people younger than 'boomers'.

Why do you never blame what happened on events during the last 15 years – so greedy speculators, people who over-borrowed, bankers, and so on? Why target your parents' generation? Do you despise your parents, or what?

You simply don't make sense. You need to read up on your social history of the 50s, 60s and 70s – presumably you didn't study the subject at school.

And envy is not an attractive trait...

The majority of housing is owned by boomers. Most young people cant buy because boomers won't sell to them at an affordable rate.

Housing policy is determined by banks, governments, and corporations run by boomers.

We will have to work and pay tax to bankroll pensions, benefits and public services for retiring boomers we will never receive ourselves.

What do you want,a medal?

ukcarper

ruggedtoast wrote: »

The majority of housing is owned by boomers. Most young people cant buy because boomers won't sell to them at an affordable rate.

Housing policy is determined by banks, governments, and corporations run by boomers.

We will have to work and pay tax to bankroll pensions, benefits and public services for retiring boomers we will never receive ourselves.

What do you want,a medal?

You blame all boomers for the actions of a small group of people who may or may not be boomers.

As the majority of boomers probably do not want to sell their houses why should they sell them to you at a low price.

mcfisco

I'm a boomer [just] and own my house outright now - this is our 2nd house

We bought our 1st one in 82, it was very cheap because it was basically uninhabitable.
We'd spent every penny we had on it and had no choice but to move in with nothing more than a bag of clothes each, a coffee table, a mattress and 2 deck chairs
No curtains, carpet or anything like that was going to make their way into it for some time to come.
We used to buy second hand stuff each week from the auction as we went along.
Anyway, enough of the "aye, we had it tough" - because we didn't, it was fun.
If people now were prepared to put up with those sort of conditions now, I reckon there'd be an awful lot more people able to get their own house - people seem to need perfection and a big wad of money just to move in now.
So what if there's no carpets and concrete floors? Put up with it until you can afford some. Any old bits of material will do for bedroom curtains until you get round to making some [yes, making]
£10K kitchen? central heating?- in your dreams.

And - as I said above - it was fun, so get on with it.
You don't need to add £30K to the mortgage or get a big loan to do the place up - do it up as you go along and funds are available.

Don't blame the boomers, lower you're expectations