Rich babyboomers behaving like the nobility in the peasants revolt...

System

It’s curious the way an entire generation of young (therefore poor) people appeared in this country without apparently any procreative action by the older (therefore rich) generation.

It’s a bit like homo sapiens having very little connection with the Neanderthals. So hardly any of their genes or wealth will be transmitted.

I wonder what will happen to all their fine houses – fall into disuse and abandonment I suppose.

IveSeenTheLight

quantic wrote: »

Likewise, I graduated without taking on student loans and I worked throughout Uni. At the time I didn't realise this was abnormal because I had always been brought up to earn.

It is possible yes but I'm not sure I could do the same with the newer more expensive fee's - I'll admit. It was less expensive when I graduated 7 years ago.

It just feels like the momentum is headed in the direction of things becoming worse for the younger generations not better, I'm not sure how much worse it can get.

It's possible that we are heading towards an American style further education where the parents starts university funds from birth to support University.

I know I have for my children.

Is this an example of elder generation passing wealth down to the younger generation

quantic

Percy1983 wrote: »

I would agree, I have bought an ex council house and its an excellent size for the money and the garden is massive.

I agree with both of you. That said paying 130k when the previous owner paid £30k 10 years prior can be a bitter pill to swallow mind :rotfl:

IveSeenTheLight

quantic wrote: »

My partner applied for a new job the other week and in the interview she asked how many other applicants there were, 180! 180 applicants for a job in a mediocre salary band, they had to do telephone screening, an assessment day and then finally interviews to narrow down the applicants for a 23k job.

Its pretty grim out there...

Then you have you consider how she should set herself apart from the rest of the applicants or consider how she could manipulate her career to be in a more specialised / less competitive (in terms of applicants) role where should would be head hunted for positions.

I am fortunate on one hand as I work in an industry where I receive calls / e-mails with a number of opportunities each week.
There is a flip side in that the industry is rife with opportunities meaning it is much harder to retain a stabalised, experienced team.

quantic

IveSeenTheLight wrote: »

Then you have you consider how she should set herself apart from the rest of the applicants or consider how she could manipulate her career to be in a more specialised / less competitive (in terms of applicants) role where should would be head hunted for positions.

I am fortunate on one hand as I work in an industry where I receive calls / e-mails with a number of opportunities each week.
There is a flip side in that the industry is rife with opportunities meaning it is much harder to retain a stabalised, experienced team.

I hear what your saying, but the role was extremely specific hence the shock.

IveSeenTheLight

quantic wrote: »

I agree with both of you. That said paying 130k when the previous owner paid £30k 10 years prior can be a bitter pill to swallow mind :rotfl:

I bought a fraction of land for six figures from an owner that bought 5 acres in 1970 for £500.
He had earlier sold about 4 acres of that in 1998 for £260k.

Do I think it's a bitter pill? No, I simply look forward and think about what value I am getting.

If I reflect going back, I applaud the good business sense and opportunity he grasped back then.

There was of course nothing I could do about that transaction as it was before I was born.

neverdespairgirl

Graham_Devon wrote: »

Out of curiosity, how are they taking the money out of the house they live in to give to their children, grandchildren etc?

I imagine it's not uncommon for couples who are now on their own to sell a family house, and buy something smaller, thereby releasing equity. Some of them might well choose, at that point, to give some to their children.

My parents sold their 6 bedroom London house just before Christmas - when they bought it, nearly 20 years ago, they had 4 children at home, by then, all had flown the nest.

My parents haven't in fact done that, and it'd never occured to their children to ask - we have a flat, in London, already, and my siblings are all quite happy as they are.

grizzly1911

wotsthat wrote: »

That's a somewhat pessimistic view IMO.

I help my kids out. Not because they're desperate - I just want to.

The money could be saved and spent on myself in the future - I'd rather spend it now on them.

It would be a grim life if you couldn't spend money on your family just because you wanted to absolutely secure your own future first.

I think you have misinterpreted what I wrote.

IveSeenTheLight

quantic wrote: »

I hear what your saying, but the role was extremely specific hence the shock.

Well don't be too despondent.
I have some positions where I have about 160 applicants of which about 90% don't have the qualifications or experience.
If your partner is suitable qualified / experience and for me personally shows confidence that they project they are the right person for the role, I'm sure she will do well.

quantic

IveSeenTheLight wrote: »

If I reflect going back, I applaud the good business sense and opportunity he grasped back then.

Yes, and for that reason the scenario you describe is perfectly acceptable, commendable even. I don't accept that someone living in a council house - basically for free, then being offered the opportunity to buy it at less than half market value - is a result of there good business sense.

I find it actually rewards a life of being workshy in many cases.