Brexit, The Economy and House Prices (Part 2)

Rusty_Shackleton

So far we've only discussed really about differences between generations in the early stages of lives. Why don't we take a look at the differences when generations have political control, i.e. When they enter middle age.

Obviously bit soon for gen Y because we dont have political control yet, still with the baby boomers. But we do know my generation won't have anywhere near the level of pensions baby boomers are currently enjoying, and the lack of good job opportunities for gen Y means my generation overall not developing the same skills as previous generations got... That doesnt bode well for future careers.

Lets also consider what the baby boomer have actually done once theyve been in charge. You rightly point out you didnt have washing machines and had more limited food growing up, but the good things of the late 20th century certainly weren't of the baby boomers making. Things like the NHS, expanded education, the welfare state, improvements to housing through mass council house building programmes. These were all things the previous generation built. Those great things were gifted to the baby boomers... Not only are they dismantling/not maintaining aspects of these, what exactly have the baby boomers gifted to future generations at the time where they hold the majority of wealth and power?

Is there a single thing youve created for the benefit of our society? And i don't mean technological innovations, those are by individuals or companies. I mean things the leaders of your generation and the electorate have created for the benefit of society. The baby boomers parents, who had it far worse than the baby boomers, left a legacy. What are you leaving my generation?

Rusty_Shackleton

GreatApe wrote: »

Why do you think I look down on them?

I've stated on this very thread, and other threads, I accept humans don't have free will so if I were them atom for atom situation for situation I would be them in every single way and I would make the exact same decisions.

My point was a statement of simple fact, most homeless people are addicted to drugs or alcohol some 96% are. If you want to help them please do but you do them a disservice if you don't accept the fact that most of them are on drugs and its an almost impossible thing to cure once addicted.

I believe the topic of homelessness came up as one of the resident lefties when questioned why taxes nerd to be higher said to help the homeless. Well there aren't many homeless 0.006% of the population and 96% of them are homeless not for lack of high enough taxes but for addictions

You need to learn the difference between homeless and rough sleepers.

Nobody says addiction can be cured, including addicts who have been clean for decades. Addiction is certainly manageable, but it certainly isnt while someone is sleeping rough.

ukcarper

GreatApe wrote: »

Its never been easier for property than it is today

You had to pay for your housing your kids will get it for free and your grand kids will get more than one property for free (assuming you and they had the typical 1.7 kids per woman)

I don't agree with that as people generally want property in their 20s long before they inherent.

Rusty_Shackleton

ukcarper wrote: »

I don't agree with that as people generally want property in their 20s long before they inherent.

They typically want to start families before reaching their 50s too. But its okay, if we all wait long enough we can enjoy the final quarter or third of our lives once we inherit. Just gotta slug on a few more decades!

economic

ukcarper wrote: »

I don't agree with that as people generally want property in their 20s long before they inherent.

that was the thinking of the baby boomer generation. but since then as has been mentioned many times, now people study longer, get married later, have kids later and some dont even start families.

so the need for a family home pushes out to the 30s or even 40s. renting is a very affordable means of shelter even for a family if one can not afford.

dont forget gifts can be given early on to help the young with their house purchase. i received a gift myself, even though i didnt need it but it was purely for IHT planning purposes.

my parents have no degree, worked HARD all their lives and have built up a very nice nest egg so much so that they are able to pass gifts onto me (100k+). both dont have specialist jobs. my mum is effectively a PA. my dad has been in a field anyone can do (no qualification needed). but he has worked hard to move up and leverage his skills to get his pay up (which is nothing special for london standards even at the peak). also my parents are migrants so i am a first generation brit in my family.

now imagine a couple wanting to buy their first house. this british born couple will likely have gifts passed onto them not from just one set of parents but BOTH sets of parents. using my situation, the parents dont need to be doctors or bankers. they just needed to have worked hard for decades in mediocre jobs.

this is the true reality of the majority of british born young people.

Rusty_Shackleton

Economic, my parents, 1 a customs officer the other used to worked in financial compliance most of their career... Theyve never had brand new cars, lived in the same house for 30 oddvyears, dont spend lots on anything much other than a couple of nice holidays a year. There is no way in hell they need to plan for IHT and certainly dont have anywhere near 100k to give away. I think my parents are probably much nearer the average than yours, your parents sound rather well off!

Not a judgement, and ive had support from parents through uni and a few thousand towards house deposit.... But really, the level of inheritance you stand to receive sounds pretty damn generous conpared to most working/lower middle class families

economic

Rusty_Shackleton wrote: »

Economic, my parents, 1 a customs officer the other used to worked in financial compliance most of their career... Theyve never had brand new cars, lived in the same house for 30 oddvyears, dont spend lots on anything much other than a couple of nice holidays a year. There is no way in hell they need to plan for IHT and certainly dont have anywhere near 100k to give away. I think my parents are probably much nearer the average than yours, your parents sound rather well off!

Not a judgement, and ive had support from parents through uni and a few thousand towards house deposit.... But really, the level of inheritance you stand to receive sounds pretty damn generous conpared to most working/lower middle class families

what part of uk are your parents from? how old are your parents and how long have they been working? you dont need to plan for IHT (ie have more then £1m in assets) to help offspring out and still be financially secure.

i find it surprising that they were not able to save enough to at least provide you with help to get on the ladder in the SAME AREA (if you needed it). unless they made bad financial decisions or were gambling addicts.

cogito

Rusty_Shackleton wrote: »

So far we've only discussed really about differences between generations in the early stages of lives. Why don't we take a look at the differences when generations have political control, i.e. When they enter middle age.

Obviously bit soon for gen Y because we dont have political control yet, still with the baby boomers. But we do know my generation won't have anywhere near the level of pensions baby boomers are currently enjoying, and the lack of good job opportunities for gen Y means my generation overall not developing the same skills as previous generations got... That doesnt bode well for future careers.

Lets also consider what the baby boomer have actually done once theyve been in charge. You rightly point out you didnt have washing machines and had more limited food growing up, but the good things of the late 20th century certainly weren't of the baby boomers making. Things like the NHS, expanded education, the welfare state, improvements to housing through mass council house building programmes. These were all things the previous generation built. Those great things were gifted to the baby boomers... Not only are they dismantling/not maintaining aspects of these, what exactly have the baby boomers gifted to future generations at the time where they hold the majority of wealth and power?

Is there a single thing youve created for the benefit of our society? And i don't mean technological innovations, those are by individuals or companies. I mean things the leaders of your generation and the electorate have created for the benefit of society. The baby boomers parents, who had it far worse than the baby boomers, left a legacy. What are you leaving my generation?

What is wrong with you? All you ever post is relentless negativity about the economy and how bad things are, that the baby boomers are taking everything and leaving you nothing.

I'm a boomer. I was dragged up in a back to back terrace house in Bradford with an outside toilet. The house was pulled down in the late 60s as being unfit for human habitation. My father was a textile worker in a declining industry and my mother a seamstress. We didn't have a phone, a car, a fridge or even a TV until I was 13.

I didn't sit on my butt moaning about my lot like you do. I picked myself up, made a good career for myself and gerally improved my lot. I also paid a hell of a lot of tax so that the next generation could have a better life than I had when I was a kid.

You really need to get a grip on yourself and perhaps start thinking about what YOU will do for the next generation.

GreatApe

ukcarper wrote: »

I don't agree with that as people generally want property in their 20s long before they inherent.

They have a put option on houses and get them free irrespective of the exact date they inherit.

ukcarper

Rusty_Shackleton wrote: »

So far we've only discussed really about differences between generations in the early stages of lives. Why don't we take a look at the differences when generations have political control, i.e. When they enter middle age.

Obviously bit soon for gen Y because we dont have political control yet, still with the baby boomers. But we do know my generation won't have anywhere near the level of pensions baby boomers are currently enjoying, and the lack of good job opportunities for gen Y means my generation overall not developing the same skills as previous generations got... That doesnt bode well for future careers.

Lets also consider what the baby boomer have actually done once theyve been in charge. You rightly point out you didnt have washing machines and had more limited food growing up, but the good things of the late 20th century certainly weren't of the baby boomers making. Things like the NHS, expanded education, the welfare state, improvements to housing through mass council house building programmes. These were all things the previous generation built. Those great things were gifted to the baby boomers... Not only are they dismantling/not maintaining aspects of these, what exactly have the baby boomers gifted to future generations at the time where they hold the majority of wealth and power?

Is there a single thing youve created for the benefit of our society? And i don't mean technological innovations, those are by individuals or companies. I mean things the leaders of your generation and the electorate have created for the benefit of society. The baby boomers parents, who had it far worse than the baby boomers, left a legacy. What are you leaving my generation?

Trying to blame one generation for the present state is very misguided, what do you suggest that previous governments should have done that they didn't. The thing that has had the biggest impact on the general public is globalisation which is a double edged sword on one side it produces the cheap goods we know have while on the other means many manufacturing jobs have been lost.