Boris to the rescue!

CLAPTON

bouicca21 wrote: »

So what's the definition of a baby boomer then? I thought it was people born in the 5 years or so after WW2, even adding another few years, means that definitely excludes the 56 year old BL landlord, unless you are arithmetically challenged.

By that definition I am a baby boomer. Yes, I got a full grant to go to uni, first member of my family ever to do so. But I struggled to buy a property, certainly never had enough to become a btl landlord, and I paid 15% mortgage rate under the milk snatcher.

I am however partially responsible for the housing shortage in that I have a property larger than is strictly necessary - but I bet there are plenty of others who have a spare room. Unlike my father whose whole family lived in just one room, with no toilet or bath.

I seem to remember that when we were young we blamed both WW2 and the Cold War on the previous generation ...

baby boomers are people born roughly 1946 to 1966 so people of age 49 to 69
generation X are broadly people early 60 to early 80
generation Y are broadly people born early 80 to early 2000


some overlap allowed

MARTYM8`

PasturesNew wrote: »

Whatever you say about boomers: Those are your parents/grandparents you're whining about.

You can't get closer to home than a boomer.... you've all got/had them.

So, phone up your mum/dad/granny now and whine down the phone at them.

Yes - I think its unfair to blame them.

My parents house in London is worth 80 times what they bought it for. But they will never see any benefit from that as they intend to live there until they die - the beneficiaries of their housing investment will ultimately be my sister and I or the local council if they need residential care.

Yes - they do have modest final salary pensions. But nothing spectacular. But their house is now worth 16 times my father's final salary when he retired. If they were in their 30s now they wouldn't be able even to buy a studio flat in the area they live in on that wage. That is the advantage they had - being able to acquire one of the most essential things in life - a secure affordable home!

ukcarper

MARTYM8` wrote: »

Yes - I think its unfair to blame them.

My parents house in London is worth 80 times what they bought it for. But they will never see any benefit from that as they intend to live there until they die - the beneficiaries of their housing investment will ultimately be my sister and I or the local council if they need residential care.

Yes - they do have modest final salary pensions. But nothing spectacular. But their house is now worth 16 times my father's final salary when he retired. If they were in their 30s now they wouldn't be able even to buy a studio flat in the area they live in on that wage. That is the advantage they had - being able to acquire one of the most essential things in life - a secure affordable home!

London is exceptional though. My first house is worth about 35x what I paid while someone in a similar job would be earning about 24x as I was when I bought it. This is in Surrey.