Brickbats for boomers in awful article

GeorgeHowell

It's equally pointless to indulge in an inter-generational squabble.

The baby boomer generation certainly did not and does not take any satisfaction from the fact that younger generations today may not end up better off than their parents. I believe the vast majority of them have assumed until recently that would continue to be the case. Most of them who can still support their children financially far more and for longer than their parents did. There certainly has been no element of, "Let's take all we can and to hell with our children's future". Most of them also agonize over trying to ensure that they leave a legacy and that it doesn't get sucked up in inheritance tax or care fees.

ILW

What is meant by "work harder"?

Percy1983

ukcarper wrote: »

Why do you say you have to work harder to get to the same point.

Well my house is similar in size to what I was brought up in, to afford it we are a qualified accountant and a teaching assistant both working full time, my parents where a full time security guard and a part time checkout operator to buy there house.

Yes that is only one example but there are many where the young have to work more to get the same house there parents got for doing less.

Hence my statement the young have to do more to get to the same point.

ukcarper

Percy1983 wrote: »

Well my house is similar in size to what I was brought up in, to afford it we are a qualified accountant and a teaching assistant both working full time, my parents where a full time security guard and a part time checkout operator to buy there house.

Yes that is only one example but there are many where the young have to work more to get the same house there parents got for doing less.

Hence my statement the young have to do more to get to the same point.

I think it has been pointed out to you before but property price go up and down and in 70s and 80s property was about the same price in relation to wages as they are now. I could easily say someone who first bought in the mid 90s got their house for half what I had to pay.

What you are saying is that your parents were lucky enough to buy in a period when prices were low and you weren’t.

OffGridLiving

ukcarper wrote: »

I think it has been pointed out to you before but property price go up and down and in 70s and 80s property was about the same price in relation to wages as they are now. I could easily say someone who first bought in the mid 90s got their house for half what I had to pay.

What you are saying is that your parents were lucky enough to buy in a period when prices were low and you weren’t.

I bought my first house in 1995 for £40k, which was £10k less than the person who owned it before me bought it for in 1985. I was lucky enough to buy at the bottom of the market, but it was by chance not by design. I wonder if people who bought in 2008 will have bought at the bottom too?

Percy1983

As it is I seem to have been lucky enough to buy at the recent bottom, pure luck they hit there lowest as the deposit came together.

OffGridLiving

Percy1983 wrote: »

As it is I seem to have been lucky enough to buy at the recent bottom, pure luck they hit there lowest as the deposit came together.

Congrats. It was the same with me, my decision to buy (and finance in place) came at the bottome of the market. No forward planning, no agonising over the decision. I just bought a house and lived happily in it for 7 years until it was time to move on.