More evidence of increasing wealth gap

lewisa

cells wrote: »

If housing was so affordable back then why wasn't property ownership close to 100%?

The highest ownership rate was reached in about 2005 a generation ago ownership levels were around what they are today indicating that they were not really more affordable.

Homes might have been cheaper but that does not mean they were more affordable if food and cloths and other essentials were more expensive (which they were) so the house wasn't affordable to you even if it was cheaper on paper

Well you're quoting the wrong person, my addition to the debate was pensions and beer, one of which i am a major expert on!

But since you mention, mortgage deregulation maybe had something to do with it. I wouldnt know for sure as I focused on beer prices instead.

dealer_wins

Not many people born in the 1990s would choose to be born in the 1960s/70s if they could experience it.

Times were hard then trust me.

Sapphire

dealer_wins wrote: »

Not many people born in the 1990s would choose to be born in the 1960s/70s if they could experience it.

Times were hard then trust me.

Yes, agree – definitely when it comes to material things. However, I'd add that it was also a time of discovery of new, exciting things that hadn't been seen before, fantastic music, liberation – a sort of release after the hardships and strife of the Second World War. Perhaps precisely because life was not easy for most people, culture flourished (which often happens in hard times). There's nothing like that now. To me much of what is produced just seems to be so dreary and boring, and aimed at making the biggest bucks possible. There was also no Internet and life was somewhat slower and kinder, despite real financial hardship for many and very few benefits…

JamesN

cells wrote: »

More seriously unemployment in the UK is about 1% and the full time male wage is in the order of £35k a year. Jobs and prospects in this country are good unless you are at the very bottom and there is no good reason to be at the bottom if you are healthy and have an average mind or better

Also there must have been poor condition low pay jobs of yesteryear. I used to work in a steel mill and the air was so bad I gladly took redundance when offered. People who complain or think stacking shelves working in asda is difficult should try working in a steel works for a month especially with the safety culture and practises of a generation ago let alone even contemplate the lives of the manual coal miner two generations ago.

i don't think I've ever heard people say shelf stacking is difficult. Just that it is boring.

However, a brief scan of your posts (apologies if I missed anything) doesn't highlight anything about education costs. If you want a decent job, everybody wants a degree. So I have 20k of debt for that. My parents had free uni education. Students entering uni today will have over 40k of debt.

You are also missing that the government tries to get our generation to foot any bill (tuition fee increases, junior doctor contracts, etc). I have never seen them target the baby boomer generation.

My dad is going to retire at 55, he's worked hard but no more so than I have. I doubt I'll be able to retire before I'm 70.

Meanwhile, people who have invested nothing in their education have a far bigger house than I have and a smaller mortgage and less debt despite not having a skilled job.

Jon_B_2

The inheritance piece is a complete red herring.

People are living so long that by the time many people "inherit" wealth it has either gone in care fees or the recipients are near retirement themselves.

ukcarper

JamesN wrote: »

i don't think I've ever heard people say shelf stacking is difficult. Just that it is boring.

However, a brief scan of your posts (apologies if I missed anything) doesn't highlight anything about education costs. If you want a decent job, everybody wants a degree. So I have 20k of debt for that. My parents had free uni education. Students entering uni today will have over 40k of debt.

You are also missing that the government tries to get our generation to foot any bill (tuition fee increases, junior doctor contracts, etc). I have never seen them target the baby boomer generation.

My dad is going to retire at 55, he's worked hard but no more so than I have. I doubt I'll be able to retire before I'm 70.

Meanwhile, people who have invested nothing in their education have a far bigger house than I have and a smaller mortgage and less debt despite not having a skilled job.

As I said only a small proportion of people went to university the majority left school at 15 also basic rate income tax was 33%.

You say they invested nothing in thier education but to get to a degree level I had to give up an evening a week, complete project and homework in my spare time for 11 years whilst working full time.

economic

Jon_B wrote: »

The inheritance piece is a complete red herring.

People are living so long that by the time many people "inherit" wealth it has either gone in care fees or the recipients are near retirement themselves.

but its not just via inheritcane. its gifts too. my parents have ammased a lot of wealth and they are what i consider to be average in terms of pay throughout their lives. they have no university degree. yet they have saved a lot, have a fully paid up house etc. they can afford to gift me a few hundred thousand and still have enough for a comfortable retirement.

PasturesNew

cells wrote: »

.... full time male wage is in the order of £35k a year....

But I can't become a male.

System

dealer_wins wrote: »

Times were hard then trust me.

Why should I trust you rather than my own recollections?

cells

JamesN wrote: »

i don't think I've ever heard people say shelf stacking is difficult. Just that it is boring.

However, a brief scan of your posts (apologies if I missed anything) doesn't highlight anything about education costs. If you want a decent job, everybody wants a degree. So I have 20k of debt for that. My parents had free uni education. Students entering uni today will have over 40k of debt.

You are also missing that the government tries to get our generation to foot any bill (tuition fee increases, junior doctor contracts, etc). I have never seen them target the baby boomer generation.

My dad is going to retire at 55, he's worked hard but no more so than I have. I doubt I'll be able to retire before I'm 70.

Meanwhile, people who have invested nothing in their education have a far bigger house than I have and a smaller mortgage and less debt despite not having a skilled job.

Education and information is now free back a generation ago it was very costly. The price of a degree might have gone up but the price of information has fallen to zero. It's also not a direct cost it's more akin to a higher tax rate and taxes today even with the grad tax taxes are lower than yesteryear.

Also less than 50% go to university so its not a problem for them. Plus you can do a distance learning course from a good university like the UOL for about £5k all in. I also think it would be possible to do that while also working a dull time 37h/WK job if someone was dedicated enough certainly possible working part time. If said person States with their parents and earnt just £7k a year at the end if the three years they would have £21k minus the £5k cost so starting out with £16k rather than the -£40k that seems to be mandatory but it clearly isn't