Inter generational fairness

[Deleted User]

Nah, sod it, they can make their own way. I'll give them a bit towards the deposit and then the cats home can have the rest.

If either of them think about getting minimum wage jobs at 16 and dropping out of school I'd be hideously disappointed.

GreatApe

ringo_24601 wrote: »

So you have no concerns that the area of the country that is becoming unaffordable for the young is growing and growing? What happens when these better paying jobs end up moving to Manchester and Newcastle, and houses become unaffordable in your precious North?

why not aim for the better paying jobs?

if your skills/wage are so poor to be in the bottom 25% of the population then why would you expect to own the top 25% of properties?

Once 2 generations have paid off their mortgages the following generations get housing for free so even for the low skilled low paid many of them will inherit free housing

Should all people who have the misfortune of parents who live a long and healthy life move to rotten ex-council houses in decrepit Northern towns and be damned?

so the 70% of the country that is not London and the SE is !!!! and damned?

I went for the 'pre-inheritance' approach. I'm removed from my gran's will, in lieu of help towards my first home's deposit.

so you got an inheritance/gift/help

do you not see that with £10 trillion in wealth, with less than 2 children per women, with a still positive savings rate that the next generation will inherit a lot more than the last, and the generation after that a lot more still.

housing is just a two generation cost, after that its only upkeep

even those who expect nothing will marry into families that will pass on a lot.
My old boss married into such a family he was a working class man from a working class parents but married into a very wealthy farming family and his own kids were millionaires the day they were born. I doubt he or his parents ever expected anything like that but there you go the spreading of this £10 trillion via marriages

[Deleted User]

</bangs head against screen>

GreatApe

ringo_24601 wrote: »

Nah, sod it, they can make their own way. I'll give them a bit towards the deposit and then the cats home can have the rest.

If either of them think about getting minimum wage jobs at 16 and dropping out of school I'd be hideously disappointed.

that is fine but then you/they should not scratch your heads as to why they are being outbid by people on similar or lower incomes who do have inheritances and why they cant live in Kensington or other expensive areas.

My great grandparents were very poor
My grandparents were poor
My parents did ok
I am doing quite well (but cant buy a 150sqm house in kensington or any of the inner boroughs)
My children will be rich (I still have 20 years of working savings)

It is effectively 100+ years of savings and investment.

Another kid who starts from nothing cant compete with that, in the same way I cant compete with the families who have 200 years of savings and investment behind them, they live in kensington or other very expensive areas while I cant. Likewise I cant compete with someone who has a £1m pa paying job, someone who has a £10k pa job cant compete with me.

lisyloo

Once 2 generations have paid off their mortgages the following generations get housing for free so even for the low skilled low paid many of them will inherit free housing

I'm 48 and waiting to inherit from a 90 year old (tapping my fingers as we speak) - who might very well spend it in care fees.
How old will I be when I get a free house? which will be split between siblings after the care home fees.


I am of course aware that not everyone lives to a ripe old age or needs a care home, but conversely neither do people generally inherit before they need a home of their own by quite some margin.

badmemory

Anyone remember the TV drama where parliament was moved to (I think) Birmingham. Now something like that would be a really good idea. Although I think a whole new town would be better. Stick MPs is several blocks of flats, which would cut their expenses & security costs. Relieve the pressure on London & thereby the house price pressure. It may cause some problems as there seem to be many who think nothing exists north of Watford Gap.

westernpromise

badmemory wrote: »

there seem to be many who think nothing exists north of Watford Gap.

Go on then. What is there north of the Watford Gap?

It's like asking what's north of the north pole.

kabayiri

I think we should scrap HS2 and invest in a train/tram/auto-drive network around our major cities.

Coupled with subsidised commuting costs we could expand the network of towns serving the overpriced centres; take some of the heat out of things.

mwpt

GreatApe wrote: »

What problem?

The problem of intergeneration wealth discrepancy and housing issues in certain parts of the country. It is pretty much accepted now by most analysts, kind of like climate change. It is only some people clinging on to the idea that it isn't the case because they just see it as complaining.

The main problem I see is that those who are from poorer parts of society who have not worked harder, not worked more skilled and not worked more hours&years are unhappy that their lot in life in not in the top one third but rather in the bottom one third. There is no way for the bottom one third to vote themselves up because there will always be a bottom one third.

An individual working harder and longer than their parents to dig themselves out of a problem is fine, but it doesn't make the general problem go away.

ukcarper

mwpt wrote: »

The problem of intergeneration wealth discrepancy and housing issues in certain parts of the country. It is pretty much accepted now by most analysts, kind of like climate change. It is only some people clinging on to the idea that it isn't the case because they just see it as complaining.

The main problem I see is that those who are from poorer parts of society who have not worked harder, not worked more skilled and not worked more hours&years are unhappy that their lot in life in not in the top one third but rather in the bottom one third. There is no way for the bottom one third to vote themselves up because there will always be a bottom one third.

An individual working harder and longer than their parents to dig themselves out of a problem is fine, but it doesn't make the general problem go away.

I agree that in certain parts of the country prioperty has become unaffordable for a large number of people more than in the past. But I don't think you can lay the responsibility on one age group. I don't believe that it is saving the deposit that is the problem, if you earn enough to get a big enough mortgage then saving the deposit should not be impossible the problem is the price of property compared to earnings. The other problem is the lack of truly affordable housing contrary to what some people think there will always be low paid workers and a need for them and I personally think there should be reasonable and secure property available for them.