Babyboomers buying up property and renting back to the young

Jason74

There's certainly some truth in that LM. People are generally "settling down" later in life than was the case 40, or even 20 years ago. Whether it's marriage, kids, or houses, major life stages are happening later than previously. But, there can also be little doubt that the structure of the economy has shifted in that time too, and I hat this has resulted in it being harder for young people to make their way in the world now than at any time in the last 50 years or so. Whether we're talking access to good jobs, pensions, or housing, things are worse for todays young people than those who came 20 years before, and much worse than for those 40 years older.

I have no problem with people pointing out that this economic shift isn't the only factor behind the only factor in the changes we're seeing. What I DO have an issue with, is people pretending this shift hasn't happened, or is somehow not important because there are other factors at play too.

pinkteapot

I find the increasing "us vs. them" tone of the whole debate slightly disconcerting. Was this how Logan's Run started?

Generali

pinkteapot wrote: »

I find the increasing "us vs. them" tone of the whole debate slightly disconcerting. Was this how Logan's Run started?

Some of it sounds like the prequel to Children of the Corn!

michaels

Jason74 wrote: »

There's certainly some truth in that LM. People are generally "settling down" later in life than was the case 40, or even 20 years ago. Whether it's marriage, kids, or houses, major life stages are happening later than previously. But, there can also be little doubt that the structure of the economy has shifted in that time too, and I hat this has resulted in it being harder for young people to make their way in the world now than at any time in the last 50 years or so. Whether we're talking access to good jobs, pensions, or housing, things are worse for todays young people than those who came 20 years before, and much worse than for those 40 years older.

I have no problem with people pointing out that this economic shift isn't the only factor behind the only factor in the changes we're seeing. What I DO have an issue with, is people pretending this shift hasn't happened, or is somehow not important because there are other factors at play too.

Funny, when I graduated in the early 90s unemployment was about double what it is today and big companies were not recruiting graduates at all, even bar work was hard to come by...I would have said getting a job as a young person is a lot easier now than it was between 79 and 95.

wotsthat

Jason74 wrote: »

I have no problem with people pointing out that this economic shift isn't the only factor behind the only factor in the changes we're seeing. What I DO have an issue with, is people pretending this shift hasn't happened, or is somehow not important because there are other factors at play too.

What seems odd to me is the amount of effort being put into 'proving' such an economic shift has taken place rather than reacting to it. There are numerous threads where someone will moan loudly about houses being more expensive that they used to be but still think they should be able to swan out of school with no qualifications 'like their dad did' and buy a house.

If the housing market has changed then, to buy a house, behaviours need to change too. This suggestion seems to cause great offence and I've no idea why.

Loughton_Monkey

ruggedtoast wrote: »

.......What other generation steals housing from its own children and then rents it back to them at a profit?

I can't really answer that. I have no children to steal anything from and don't own any BTL's so am making a profit out of nobody.

What I do see, is a number of my generation who did have children, brought them up in their own house (without charging them even when earning) and then donating their valuable house to the children in their wills.

You seem very hard-done-by. Why don't to give me your details, and I'll slip round to the solicitor this afternoon. Being quite cautious with money, I'm bound to leave a very large pile. It seems that your own needs are greater than that of Macmillan Nurses, Disabled Riders trusts, RSPCA, and several other charities who would otherwise cop for it all? The IHT will be substantial, though.

bugslet

ukcarper wrote: »

The youngests boomer will be 51 this year .

That's me! Born June '64, just managed to get the Boomer tag.

Part of the problem surely is in the way that work is spread around the country - at the moment it's all in the South East with the consequent pressure on housing. Round by me in Runcorn, you can get a brand new one bedroom flat for 55k, my 3 bed semi is worth about 140k. There is work and a lot of it low-paid, but we are15 miles from Chester, Liverpool and Warrington for better paying jobs. Not all housing is out of reach.

Unemployment rate over 3 million when I left school in '82.

ukcarper

bugslet wrote: »

That's me! Born June '64, just managed to get the Boomer tag.

Part of the problem surely is in the way that work is spread around the country - at the moment it's all in the South East with the consequent pressure on housing. Round by me in Runcorn, you can get a brand new one bedroom flat for 55k, my 3 bed semi is worth about 140k. There is work and a lot of it low-paid, but we are15 miles from Chester, Liverpool and Warrington for better paying jobs. Not all housing is out of reach.

Unemployment rate over 3 million when I left school in '82.

I've just had a play with Nationwide regional data and since they started in 1973 the average property price for UK has increased by about 19X. But looking deeper the regions vary between 15x (York and Humberside) to 31x (London) where I live Outer Met it's 23.4x, Looking at measuring worth website earnings have increased 15.7x over the same period. So it looks like the problem is mainly in London and the South East and in some areas price in relation to average earnings is about the same.

Generali

ukcarper wrote: »

I've just had a play with Nationwide regional data and since they started in 1973 the average property price for UK has increased by about 19X. But looking deeper the regions vary between 15x (York and Humberside) to 31x (London) where I live Outer Met it's 23.4x, Looking at measuring worth website earnings have increased 15.7x over the same period. So it looks like the problem is mainly in London and the South East and in some areas price in relation to average earnings is about the same.

It's worth noting that wages have gone up by considerably more than RPI over the same period. What has happened is that the cost of food and clothing (and other stuff including furniture and electronics) has dropped vs wages and the price of housing has increased vs wages.

As a result, we spend more of our income on housing but can afford to.

ukcarper

Generali wrote: »

It's worth noting that wages have gone up by considerably more than RPI over the same period. What has happened is that the cost of food and clothing (and other stuff including furniture and electronics) has dropped vs wages and the price of housing has increased vs wages.

As a result, we spend more of our income on housing but can afford to.

Yes RPI over same period just under 10x