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

lisyloo

whereas I think its sensible

You sound like you had a nice family/parents.
I suffered abuse until I was old enough to fight back and then we just fought and argued all the time until I could escape.
I think it's a mistake to assume that everyone could stay with their parents - some parents might not even be prepared to house their kids.

Probably fine for some, but it's not a solution for everyone.
I did put my efforts into getting myself skills and a job etc as the post above says.

Loughton_Monkey

lazer wrote: »

Maybe young people should jsut continue to live with their parents like the baby boomers did......

Not sure I noticed that one at the time. ONS data shows a very distinct increase in average (or median) age at marriage since c1971 when I got married, aged 21. [This is probably counteracted, slightly, by co-habitation rates mushrooming].

Most people in my age group do not accept the concept of 'rich boomers', but instead, simply understand the concept of living within means, working your way up, and improving your lot over time.

Married mid 1971, our total net assets at 31/12/71 were £38.51

Income 1972: £1,285.08 [12m wife salary, plus 5m my salary]
Rent 1972: £19.50 pcm
Total assets 31/12/72: £310.97

Net saving + interest = 21.2% of earnings.

We did not feel in any way 'poor'.

michaels

But the young do work hard - Jamie Oliver says so (but not the British ones who get there mums to phone in for them):
http://www.bbc.co.uk/news/business-23860811

John1993_2

michaels wrote: »

But the young do work hard - Jamie Oliver says so (but not the British ones who get there mums to phone in for them):
http://www.bbc.co.uk/news/business-23860811

I don't think that Mr Oliver's quite the sharest tool in the box, which is why he's a bit confused on this point.

You'd expect people who've upped-sticks and moved overseas to have a better work ethic than thos who have not, on average. This means that foreigners here would be harder workers than their domestic neigbours, but also that British overseas would be harder workers than the locals there.

It's all down t selection, the sort of perso who'll move hundreds or thousands of miles for opportunity is also the sort of person who'll put in the extra effort at work.

It says nothing about the propensity to work hard of the British commpared to anyone else.

Loughton_Monkey

michaels wrote: »

But the young do work hard - Jamie Oliver says so (but not the British ones who get there mums to phone in for them):
http://www.bbc.co.uk/news/business-23860811

It's very strange to me that if Jamie Oliver had said "Foreign/European/Indian... workers are wet behind the ears" he would have been pilloried, investigated by the Race Relations Police, banned/suspended from the BBC, and forced to apologise in public.

So can anyone explain why it is OK to slur the whole British race [whether or not there's an ounce of truth in it or not] and get away with it?

ruggedtoast

HAMISH_MCTAVISH wrote: »

Hang on a minute.

That sounds suspiciously like..... "Hamish was right".

Did typing that cause you a degree of discomfort?

I agree with you that banks aren't lending.

I think your assertion that throwing ever larger mortgages at the same constrained supply of housing will somehow assuage the housing crisis is barmy.

Loughton_Monkey

ruggedtoast wrote: »

I agree with you that banks aren't lending.

I think your assertion that throwing ever larger mortgages at the same constrained supply of housing will somehow assuage the housing crisis is barmy.

But you forget that to Hamish, and the rest of us "I'm all right Jock" merchants, the words 'housing crisis' simply mean prices not going up quick enough.

chewmylegoff

michaels wrote: »

But the young do work hard - Jamie Oliver says so (but not the British ones who get there mums to phone in for them):
http://www.bbc.co.uk/news/business-23860811

I expect the hard working British "young" took advantage of the excellent opportunities they had at their disposal and got themselves an education and a career so they didn't have to work in Jamie's chain restaurants chopping veg for minimum wage.

Most of our canteen staff at work seem to be graduates from Eastern Europe. There is even one who used to be a lawyer overseas who now serves coffee for a living. I'm sure they all have a better work ethic than the British people who might be prepared to work for the same wage, but I'm not sure they have a better work ethic than the people they are serving coffee to who earn about ten times what they do.

Dunroamin

lazer wrote: »

Maybe young people should jsut continue to live with their parents like the baby boomers did

All 12 of my aunts and uncles remained living at home until they got married - but that seems like an alien concept now, to both the parents and children, and for their children (Ie - me & my cousins - aged range 3 - 40), the only ones that have moved out of home before marriage or moving in with partners are those that went to university. Some will probably stay livng at home and will look after their parents in old age too.

Modern Life has become way to much about money, and "bragging rights" - ie: if you are still living at home at 25 never mind 40 nowadays people seem to think it is strange - whereas I think its sensible.

I'm a boomer:o and nobody I knew stayed living at home with their parents much into their twenties - in most cases you would've had no sort of independent life had you done so.

For me (and most commentators) staying at home until your late twenties or thirties is a comparatively recent phenomenon.

Cornucopia

Loughton_Monkey wrote: »

But you forget that to Hamish, and the rest of us "I'm all right Jock" merchants, the words 'housing crisis' simply mean prices not going up quick enough.

When someone can define "housing crisis" in un-emotive, factual terms, then we can have a proper discussion about it.

In the meantime, I still contend that London and certain other hotspots are a special case and that housing in most of the rest of the country remains affordable.

Even then, I've seen Shared Equity schemes that are aimed at people who live or work in central London boroughs that specify a salary range of say £28-45K. That is by no means excessive and would potentially suit someone 2-3 years into a graduate entry career.

I would have loved something like that when I was that age, but they didn't exist then.