Generation Rent. Thousands more young stuck in rental sink hole. No hope on horizon

ukcarper

Don't worry with the amount of binge drinking most young people do they are unlikely to reach retirement age.

CLAPTON

actually building houses is quite easy

antrobus

ruggedtoast wrote: »

The only way money can be created under a fractional reserve system is by people borrowing. It is an insane system designed to overheat, devastate the poor, and immensely benefit the rich, in my opinion, but it is where we are...

Borrowing creates money irrespective of whether the system is fractional or not. The existence of a fractional reserve system i.e. a requirement for banks to give a percentage of their deposits to a central bank rather than lend them straight out again would, if anything, slow down the process of money creation.

ruggedtoast wrote: »

...So we bailed them out, but they still won't lend to us. Hence all Hamish's posts about mortgage rationing etc.

And yet you complain about "mortgage rationing". What kind of magic lending to you have in mind?

ruggedtoast wrote: »

...It warns those aged 18 to 31 – the so-called ‘Generation Y’ – will be crippled by problems such as a poor state pension, rising life expectancy, record student debts and high property prices....

It's an odd kind of world view that sees a longer life as being a 'crippling problem'.

Loughton_Monkey

Ronaldo_Mconaldo wrote: »

Grr! I am angry now! All these photos and captions have pushed me over the edge. I'm going to drive around and shout at old people: 'look what you're doing to me and my generation' I'll shout. That'll teach them.

That's the spirit! A British youngster getting of his backside and doing something to correct the injustices of this world.

I admire such sacrifice. All the money spent on petrol while you are doing this is preventing you saving for your own house, and yet you remain determined to spread the message in this way. That's what I call sacrifice. Well done.

There's a possibility that I might actually hear it. If I'm out the front polishing the jag.... But if not, could you shout really loud, because I might be round the back in the pool with a glass of bubbles, like most of yesterday afternoon....

John1993_2

ruggedtoast wrote: »

I think every tax payer who had to bail out a banking system that turned out to have been run by clueless casino gamblers who then refused to lend the money back to them, is well aware of what bankers do and who actually carries the risk.

Yes, you probably do think that. There's no reason to assume you are any more clued up about the nations's knowledge than you are about banking.

If I were you I'd not boast about such ignorance, though, it doesn't make you look good.

I wonder, how precisely do you think that you bailed anyone out. Did your tax bill increase recently to cover a "bank levy", for example?

No?

John1993_2

ruggedtoast wrote: »

The only way money can be created under a fractional reserve system is by people borrowing. It is an insane system

Ah, you're one of them?

I understand now. Sorry, I should not have tried to have a discusssion with you. I'll leave you to your impotant anger.

michaels

John1993 wrote: »

Yes, you probably do think that. There's no reason to assume you are any more clued up about the nations's knowledge than you are about banking.

If I were you I'd not boast about such ignorance, though, it doesn't make you look good.

I wonder, how precisely do you think that you bailed anyone out. Did your tax bill increase recently to cover a "bank levy", for example?

No?

Mostly true but hasn't the govt borrowed money to provide support to the banks, and in which case isn't interest being paid on these borrowed funds? Eventually the investment in the banks may pay back both the capital invested and the interest on the monies but the jusy is still out on that I think.

Cornucopia

I'm looking at flats in the South East at the moment - price around £100k. I cannot believe that young people in reasonable jobs would be unable to afford this, particularly with help from parents/Government.

The issue, I think, is that some people expect to get straight in to fashionable city-centre properties. That is not and never was an option for the vast majority of people (including young people).

I blame Friends.

Carl31

Cornucopia wrote: »

I'm looking at flats in the South East at the moment - price around £100k. I cannot believe that young people in reasonable jobs would be unable to afford this, particularly with help from parents/Government.

The issue, I think, is that some people expect to get straight in to fashionable city-centre properties. That is not and never was an option for the vast majority of people (including young people).

I blame Friends.

£100k for a flat? where? Hastings?

I havent seen a £100k flat in our area for years

Dunroamin

ruggedtoast wrote: »

Crippled by student loans, insecure ASTs, a labour market throttled by temp agencies, Generation X and Y really are the golden goose who are being squeezed for every shilling by the parasitical rentier class, hungry to suckle on the milk of house price inflation, landlordism, public benefits, corporate welfare and final salary pensions.

You'd have to be on a hell of a large salary to be "crippled" by student loans, more than many of us earlier graduates ever dreamed of earning!