Locked out of the property market. Generation X and Y's Dreams stymied.

Brallaqueen

Go- getters will always succeed, and those watching and wishing they had that much gumption will always look on jealously (I count myself amongst the jealous in general but I bought a flat at aged 27 so...).

Education and networking help in a lot of ways, but reading the NP thread you can see how the successful people don't necessarily have the same background but do all have a shared 'je ne sais quoi' that drives them to succeed and there are thjose that can't understand it or forgive it. God forbid people forge ahead rather than sit in a pile and whine.

macaque_2

Loughton_Monkey wrote: »

Generation Loughton Monkey were buying houses in 1973, when Nationwide tells us they were about £9,000 - up around 30%/40% from 1972.

Generation Loughton Monkey was earning a 'new graduate' salary at the time, in the order of £1,350. Reasonable for a 22 year old but a salary easily earned by non-graduates who had been working for 4 or 5 years.

So faced with average house price some 6 to 7 times income, generation Loughton Monkey had two choices:

1. To sit down and gripe. Moan about it. Write to the MP complaining about being 'locked out of the housing market for ever'. Rent somewhere, and watch prices go up faster than salary - forever moaning more loudly.......

2. Recognise the obvious, and discover that houses were available at far less than average. Sh1tholes they may be, but it gets you on the ladder, replaces rent with mortgage payments, and aspire, eventually, to move up to something a little bit more 'average'.

Generation Loughton Monkey probably waited about 10 years before being able to buy a first car. Even waited over 10 years before buying a new settee or washing machine rather than second hand. But Generation Loughton Monkey had a fine sense of priorities......

Generation Loughton Monkey, therefore, has not a single ounce of sympathy for generations X or Y or any other for that matter. They are are not 'victims' of anything other than their own unrealistic expectations, misguided priorities, and economic naivety.

The "want it now" society definitely gets.

It gets what it deserves.

http://www.youtube.com/watch?v=Xe1a1wHxTyo

HAMISH_MCTAVISH

Graham_Devon wrote: »

There are no decent secondhand sofa's. I defy you to find one that doesn't cost nearly as much as popping down to DFS, having a look out the back and picking one up for 200 quid.!

I'll admit buying a sofa for £200 seems reasonable, whether it's from the back of DFS on clearance, or from Gumtree.

What people have a problem with is those who buy the £2100 suite, and then claim they're broke. When a similar £2100 suite can be had in great condition from Gumtree or ebay for under £500 and a £50 van hire.

Anyway, you're still a mile away from what many people in older generations did. I've mentioned often enough that the first of my friends to buy a house had plastic crates as chairs and a cardboard box with a cloth over it as a table for the first year or so they were in their house.

Graham_Devon

HAMISH_MCTAVISH wrote: »

Anyway, you're still a mile away from what many people in older generations did.

Many younger generations do this too hamish.

The only difference now is camping chairs are often far cheaper than plastic ones. Hence instead of plastic ones, we have camping chairs.

You think I didn't give the two camping chairs I had in between getting rid of the filthy sofa and the new sofa to my mate, who still has them?

You can pop to ikea with £100 in your back pocket and pick up a dining table, four chairs, a coffee table, a side table and a few other bits. It's all crap quality, but you can deck a lounge out with new items very cheaply. I still have a £6.50 table from ikea that my son uses to do his crafty bits on. Years ago this sort of stuff simply didn't exist, so buying the "same" items cost a lot more than it does now for the very basic stuff.

It didn't stop at your generation, you just refuse to see people struggle. It's no co-incidence you refuse to see the struggle with housing costs, interest rates, and now also you refuse to see that just as generations past, people still get by with whatever they need.

A few deck out their houses as soon as they move in. But according to your other posts, you should be applauding these people, as they are spending, and you detest savers. Sometimes I don't know which side of the fence you are on. You have a pop for the young spending their money on household items, but then have a pop at lending not being available, people saving instead of spending, and moan bitterly about austerity.

You can't have it every single way. Either you want people spending, or you don't. Either you want austerity and people sitting on plastic garden furniture or you don't. Either you want people paying off their debts or you want them taking on more debts. You flip in and out of differing subjects all with differing answers. The only common theme is you are always insistent that you are right.

StevenMarks

I'm GenX and I won't hit 50 for another 15 years.

My salary now is double what it was 12 years ago.

wotsthat

Graham_Devon wrote: »

However, the point is, he see's people as greedy, because they have a car, when he didn't. He had to catch the train. Theres nothing more to it. My dad is one of the most generous people I know, but you can't change his mindset.

If he had to catch the train when he was younger, but someone else at his age back then now has a car, they are greedy and shouldn't be able to afford other stuff. He couldn't, so they shouldn't.

Find as many excuses as you like. Every generation is jealous in some ways of another. Works all ways.

I'm not sure that your dad is that representative of the older generation to be honest then. However, him having a fixed mindset irrespective of changing situations does explain a few things.

If we're going anecdotal I got my first BMW a few years ago. Nobody was more pleased for me than my dad - I've never heard him once complain about his parents generation, mine or my kids.

I can honestly say that the only generational jealousy I have is that young people are, well, younger than me.

I find the whole concept of being jealous of a different generation just a bit peculiar. You're born when you're born and have to make the most of what you have.

HAMISH_MCTAVISH

StevenMarks wrote: »

I'm GenX and I won't hit 50 for another 15 years.

My salary now is double what it was 12 years ago.

An interesting point.

People don't appreciate how much their earnings can increase as they get older.

Graham_Devon

wotsthat wrote: »

I find the whole concept of being jealous of a different generation just a bit peculiar. You're born when you're born and have to make the most of what you have.

I totally agree.

So if someone today buys a house and kits it out, because they can pop to ikea and buy a load of cheap stuff to sort them out, why the scorn and put downs suggesting they "want it now"?

Mass overseas cheap production of tables made literally of sawdust is here now. It can be bought now. As I stated, a small table cost me less than a packet of fags. So what's the deal with suggesting this is all somehow bad?

Hamish has now suggested it's te £2000 sofas he has issues with. I'd be completely with him. I just don't know ANYONE of my age who has actually done this if they can't afford it....because, well, erm, they can't afford it.

StevenMarks

HAMISH_MCTAVISH wrote: »

An interesting point.

People don't appreciate how much their earnings can increase as they get older.

Actually I worked it out wrong. My take home went up by 2; my actual salary went up by 3.3 times.

I also expect that to keep going up as I am learning a lot of new skills and getting my name known in my chosen field.

wotsthat

Graham_Devon wrote: »

So if someone today buys a house and kits it out, because they can pop to ikea and buy a load of cheap stuff to sort them out, why the scorn and put downs suggesting they "want it now"?

I'm not sure I disagree but the example you give is one where the stuff that's being purchased has got much cheaper over time.

There are many more opportunities these days to spend money. You mention your dads Virgin Box. With his attitude do you think he'd be willing to give up that box if he was starting out again and trying to prioritise a house purchase? Would he have prioritised a Spanish holiday over getting on the housing ladder?

That's where the 'want it now' put downs come from because I reckon your dad's generation would be better than your's at resisting spending opportunities.

My dad is still making those choices now. His mobile phone is my old one that I was too ashamed to be seen with 8 years ago. He takes the p**s out of my Blackberry and son's Iphone asking what he needs the internet for etc etc. Doesn't stop the cheeky git getting us to find deals on his gas, electric, car insurance and house insurance on the internet though.

Thrift has gone out of fashion - I think it's making a comeback though - stuff, with some exceptions, just isn't as cool as it was.