The Selfish Generation

ruggedtoast

ukcarper wrote: »

This shows you are wrong

I dont know what that is, or where it came from, or what an HRP is, but the legend says that the majority of young people rent and the majority of older people own.

ukcarper

ringo_24601 wrote: »

I'm 35, so not in the 'screwed' generation, but neither a boomer either.

I don't think you can blame an entire generation for this stagnant economic position we've been in. Stagnant is still better than depression.

However, 'boomers' do still fail to mention that whilst they were paying 18% mortgages and drinking stale ditch water to survive, house prices reflected this high interest rate, they then saw a long period of prosperity afterwards - rising house prices increased their equity and rising salaries made their mortgages evaporate. They are also going to take a massive financial toll on the NHS in the coming decades.

We have now seen a sustained period of low inflation - and low inflation isn't good for anyone when house prices ignores it! Increased population pressure has kept low wages low, increased rents and has probably now got a generation of young people trapped into it.

When did house prices boom and who benefited the most

ukcarper

ruggedtoast wrote: »

I dont know what that is, or where it came from, or what an HRP is, but the legend says that the majority of young people rent and the majority of older people own.

You keep confusing old people with boomers.

Linton

ruggedtoast wrote: »

I dont know what that is, or where it came from, or what an HRP is, but the legend says that the majority of young people rent and the majority of older people own.

Which is how things have always been - you need to save to be able to buy a house and those who have worked longer will have saved more. In the distant past young workers rented, often in shared houses, or mostly lived at home. They didnt buy houses until they married. Perhaps the main difference between 30 years ago and now is the increasing age at which people form stable permanent relationships.

When most women stopped being housewives and were expected to earn an income, perhaps from the mid 1960's, house prices were increasingly determined by the amount a couple could afford to pay. So young singles now will find it difficult compared with young and older marrieds.

CLAPTON

ruggedtoast wrote: »

I dont know what that is, or where it came from, or what an HRP is, but the legend says that the majority of young people rent and the majority of older people own.

your assertion was

Most boomers are homeowners. Most homeowners are boomers. Ipso facto. The boomers veto.

whilst is it true the majority of people between the ages of 50 and 70 own (as you would expect in most societies ), it doesn't support the contention that most homeowners are between the ages of 50 and 70.




check the facts with mummy before posting

Linton

ukcarper wrote: »

You keep confusing old people with boomers.

Quite right - the oldest boomer isnt yet 70 and the youngest middle-aged. Many 70 year olds are healthy and active. For people who weren't in life-shortening employment the real problems tend not to become a major issue until later.

ukcarper

ruggedtoast wrote: »

I dont know what that is, or where it came from, or what an HRP is, but the legend says that the majority of young people rent and the majority of older people own.

Perhaps this makes it clearer

[Deleted User]

I do expect things to gradually get worse for a few decades, then stabilise. This is the impact of globalisation; and the movement of wealth from the West to the East. It's always going to hurt the poorest the most unfortunately.

The boomers caught the ride of post-war prosperity; and their children are watching as their country becomes a shell of its former self.

ukcarper

ringo_24601 wrote: »

I do expect things to gradually get worse for a few decades, then stabilise. This is the impact of globalisation; and the movement of wealth from the West to the East. It's always going to hurt the poorest the most unfortunately.

The boomers and Generation X caught the ride of post-war prosperity; and their children are watching as their country becomes a shell of its former self.

I've edited that for you

ruggedtoast

ukcarper wrote: »

You keep confusing old people with boomers.

I said older people. Every owning majority on your homeowning vs renting graphic would fit that category surely. Apart from perhaps the 35's to 49's, but I am not sure that late 40s counts as young.

The oldest boomer, is currently 68.

The youngest boomer, is presently 50.

Boomers have benefited more than they have suffered.

The young of today will suffer more than they will benefit. On average.