The crushing housing burden on the young. Boomers, investors and landlords profit

wotsthat

JencParker wrote: »

I don't think that's true - more that for many on an average income they can see the impossibility of the task before them, at least in London.

I was in London a few days ago. Didn't notice a single person in shackles to prevent them leaving.

If it's so terrible why do people stay?

[Deleted User]

wotsthat wrote: »

I was in London a few days ago. Didn't notice a single person in shackles to prevent them leaving.

If it's so terrible why do people stay?

Their job, family, relationships?

CLAPTON

ringo_24601 wrote: »

Their job, family, relationships?

So, exactly as good as everywhere else?

Tylium

Conrad wrote: »

Just wanted to point out that I've assisted several young people in their property adventure recently. It really isn't difficult. 40 years from now I guarantee they will be deemed greedy boomers rather than those that just got stuck in.

People always assume tomorrow wont be as good as yesterday. It will as these people will prove. The rapid equity journey is there for the taking.

No, because "boomer" refers to the Baby Boomer generation. This was a period of increased birth rates after World War II. I'm paying for the pensions of the boomer generation. I'm paying for the protectionism that goes on, the largest generation protecting their assets by denying the same privilege to their children. I'm paying for the ageing population as the largest generation grows older and the increased strain on health services while they blow it all away on cars and houses to rent, at outrageous prices, to the "yoof" that don't work hard enough. Meanwhile, they're riding on the coat-tails of the generation before them that actually rebuilt the world after the War. Don't give me this !!!!!!!! about working hard.

The effect of the boomers will be felt for decades. They had the opportunity to take this new world and make something more of it. Instead, they've bled it dry and left a husk. They've left us as the first generation to have less than our parents. What do they care, though? They're guaranteed their final salary pensions at my expense. They've got their second home to retire in, with their idyllic views of the Cotswolds unsploit by the proletariat building new houses. Screw the rest of us.

makeyourdaddyproud

Cornucopia wrote: »

...£30k+ is a realistic salary for most people working in professional roles in Central London.

Sweeping nonsense.

Make that £45k+, allowing for higher living costs, travel. And the fact that it costs more to live in London. Even if you commute to London, season tickets are very costly.

makeyourdaddyproud

Tylium wrote: »

No, because "boomer" refers to the Baby Boomer generation. This was a period of increased birth rates after World War II. I'm paying for the pensions of the boomer generation. I'm paying for the protectionism that goes on, the largest generation protecting their assets by denying the same privilege to their children. I'm paying for the ageing population as the largest generation grows older and the increased strain on health services while they blow it all away on cars and houses to rent, at outrageous prices, to the "yoof" that don't work hard enough. Meanwhile, they're riding on the coat-tails of the generation before them that actually rebuilt the world after the War. Don't give me this !!!!!!!! about working hard.

The effect of the boomers will be felt for decades. They had the opportunity to take this new world and make something more of it. Instead, they've bled it dry and left a husk. They've left us as the first generation to have less than our parents. What do they care, though? They're guaranteed their final salary pensions at my expense. They've got their second home to retire in, with their idyllic views of the Cotswolds unsploit by the proletariat building new houses. Screw the rest of us.

And being a "tail end" BB, I am loving my financial freedom I've gained helped by a decent career and early house buying. I'm not currently working at the moment, but I will firmly blame you if you don't earn enough to support me if I get sick.

I will rest easy knowing that I was privy to the best prosperity gaining years you might not see, and the likelyhood of natural resources that might be rationed in your later years but when I am long gone to have to contend with it.

It's tough luck I'm afraid, and the best you can do is just accept it and work harder.

Loughton_Monkey

Tylium wrote: »

....effect of the boomers will be felt for decades. They had the opportunity to take this new world and make something more of it. Instead, they've bled it dry and left a husk. They've left us as the first generation to have less than our parents. What do they care, though? They're guaranteed their final salary pensions at my expense. They've got their second home to retire in, with their idyllic views of the Cotswolds unsploit by the proletariat building new houses. Screw the rest of us.

I think it's time you got rid of that huge chip on your shoulder, and got your life back....

Thrugelmir

JencParker wrote: »

The boom in the 80's the board can't have been going that long

Boom and bust.

Bought my property for £88k, peaked in value at £135k and sold it for £88.5k. All in the space of 5 years.

Had neighbours who sold out at the peak. Couldn't find anything to buy. So went into rented. With good fortune fell on their feet big time.

ukcarper

JencParker wrote: »

The boom in the 80's the board can't have been going that long - didn't have internet in those days. Following the 80's boom there wasn't any property in London that anyone earning a pittance could buy.

In the 70s I was trying to buy a property in SW London earning a reasonable salary and had to give up and buy 30 miles out and commute.

Cornucopia

London is clearly the exception in all of this. That's because it participates in both a National property market and an International one.

The claim that the thread makes is about all young people - and on that basis, I think it fails for anyone outside of London and few other hotspots mainly also in the South East.