Yoof struggling - I think not

oldvicar

Its the great grandchildren you have to feel sorry for.

OK maybe they'll have personal skycopters, solar powered holographic tellys, and sex robots, but they'll be saving up well into their 60s just for the deposit on their holiday pad on the dark side of the moon.

ukcarper

Graham_Devon wrote: »

I'm assuming it's an attempt to start another intergenerational war, with others like George helping him with yet more wild generalisations.

George...what do you think MEW'ing was all about? It was wanting something now and withdrawing equity (in other words, adding to debt) to buy it now. It was massive. Are you going to suggest it was all the youth's doing this?

Seriously, the "want it now" thing is across ALL ages....(though IMO, excludes pensioners of today....maybe not of tommorow).

The personal debt is spread out across the nation, infact I'm sure the 40-50 year olds hold the most personal debt, only very recently has that started to change, just don't have the proof to hand right now. This suggests your theories are quite wide of the mark. The only difference is, one person already HAS the house, and wants everythign else now. The other doesn't have the house.

Aha...

Now, this DOES include mortgage debt, but this will have increased with MEWing also.

Young people have more unsecured debt, but they also are less likely to have a house to secure it against, so the figures don't neccesarily prove young people spend more on credit.

Graham you are being drawn in we should let the thread die.

moneyinmypocket

Why am I talking rubbish ukcarper?

ukcarper

moneyinmypocket wrote: »

Why am I talking rubbish ukcarper?

Graham you are being drawn in we should let the thread die.

Percy1983

ukcarper wrote: »

good chance they will have to pay less in real terms as you bought near top of boom

Actually I bought at the all time lowest of recent times which puts be at around November 2004 prices, even less if you include inflation.

I will say that was more luck than judgement, deposit just came together at the right time.

grizzly1911

Percy1983 wrote: »

So true, I think my children should have to pay 5000x more for a house than I did because the internet will be faster and they will all have bigger TVs and better phones.

Well if they would prefer to have bigger TVs and flashier phones that is there choice.;)

ruggedtoast

GeorgeHowell wrote: »

There are two sides to this argument (the following carries a generalisation warning) :-

Youth has a gripe that houses are relatively more expensive and deposits harder to acquire than for a long time -- fair enough. They also have a gripe that for the first time eons there is the possibility that they may not ever be better off than the generations that immediately preceded them -- fair enough.

On the other hand, they tend not to be willing to wait for anything, they want and expect it all now. Also they are not very good at saving up because they find it difficult to deny themselves anything that they want.

I can't believe 5 people thanked this unsubtantiated nonsense.

ukcarper

Percy1983 wrote: »

Actually I bought at the all time lowest of recent times which puts be at around November 2004 prices, even less if you include inflation.

I will say that was more luck than judgement, deposit just came together at the right time.

You were lucky in relation to wages you got your house cheaper than I did in the 70s. But we were both above the long term average.

moneyinmypocket

Pearcy seems quite defensive these days

wotsthat

Percy1983 wrote: »

Actually I bought at the all time lowest of recent times which puts be at around November 2004 prices, even less if you include inflation.

...and yet just previous to purchasing you penned many many posts saying how it was the worst time ever for an FTB to buy and how it was all so unfair.

You're either engaging in some major post-purchase justification or were plain wrong.