Misery looming for the 'have it all generation'

ruggedtoast

HAMISH_MCTAVISH wrote: »

I blame the state school system for that.

Now come on toasty, why do you always insist on claiming Gen-X are hard done by?

When the reality is that Gen X are the lucky generation, with access to the cheapest houses in history, the best mortgage availability in history, that lived through the longest boom in history, and then benefitted from the lowest rates in history.

The boomers were pushing 50 when house prices reached an all time low against income in the mid 1990's.

Whereas Gen X were mostly of FTB age in those years.

And while we're at it, if the boomers bought up all the cheap houses and then pulled up the ladder, why is it that houses fell to an all time low versus income a couple of decades after most boomers bought?

If anyone hoovered up all the cheap houses in the 90's, it was Gen X..... Not the boomers.

Yes I'm sure it was, for you. While your parents were signing the cheque for your last year of schools fees and helping you flick through the UCAS guide, many of the rest of us were leaving education in the middle of a dire jobless post Thatcherite recession, at a time when under investment in the state school system you never had to use was cumulatively at it's worst, and student grants were about to be replaced by loans.

There is nothing wrong with having been born with a head start Hamish, as long as you are not one of those privileged people who do not even have the good sense to be grateful for it.

HAMISH_MCTAVISH

ruggedtoast wrote: »

Yes I'm sure it was, for you. While your parents were signing the cheque for your last year of schools fees and helping you flick through the UCAS guide, many of the rest of us were leaving education in the middle of a dire jobless post Thatcherite recession, at a time when under investment in the state school system you never had to use was cumulatively at it's worst, and student grants were about to be replaced by loans.

There is nothing wrong with having been born with a head start Hamish, as long as you are not one of those privileged people who do not even have the good sense to be grateful for it.

Wow, another swerve, with a sprinkling of ad hominem....

Have you been taking lessons from Graham?

The recession ended in 1992, but house prices stayed below the long term average until 2002. Mortgage availability was good for every of of those years, there was no mortgage rationing in the 90's crash as it wasn't caused by a credit crunch like this one was.

There were 14 years of solid prosperity with wages rising rapidly in real terms from the early 2000's to the 2007 crisis. Unemployment was normal to low for most of that time.

The boomers were pushing 50 when house prices reached an all time low against income in the mid 1990's.

Whereas Gen X were mostly of FTB age in those years.

If the boomers bought up all the cheap houses and then pulled up the ladder, why is it that houses fell to an all time low versus income a couple of decades after most boomers bought?

If anyone hoovered up all the cheap houses in the 90's, it was Gen X.....

Not the boomers.

Loughton_Monkey

HAMISH_MCTAVISH wrote: »

.......If anyone hoovered up all the cheap houses in the 90's, it was Gen X.....

Not the boomers.

I can vouch for that.

Buying in Solihull 1988, I was hunkered down, living there for 10 years, eventually selling for 1.5% more than I had paid! OK, this is something us 'boomers' just swallowed, because house inflation is a long term thing.

But during that period, virtually all GenX were snapping up the bargains. Even the boy David Platt [a footballer I believe] bought one down our cul de sac, and I swear blind he's a GenX....

Wonder where he is now? Possibly repossessed and living alone in some council flat bemoaning how the previous generation robbed him, and whinging about how much today's young footballers earn.....

vivatifosi

ruggedtoast wrote: »

Yes I'm sure it was, for you. While your parents were signing the cheque for your last year of schools fees and helping you flick through the UCAS guide, many of the rest of us were leaving education in the middle of a dire jobless post Thatcherite recession, at a time when under investment in the state school system you never had to use was cumulatively at it's worst, and student grants were about to be replaced by loans.

Oh do behave. You should have tried leaving school following the Winter of Discontent. Most people have to weather storms at some point in their lives, you just have to roll with it.

No wonder all of the Worlds Smallest Violins went so quickly in Amazon's Black Friday Sale.