Where have all the 20 something’s gone?

Arklight

economic wrote: »

I'm 34 and i lived with my parents until i bought my first place when i was 30. I made sacrifices (even though i didn't need to) so that i could buy with the added bonus that i am now financially independent. I went on holidays 3 times a year (2 European, 1 outside Europe), i ate out every now and again, went out every now and again, bought some gadgets etc. But i was always mindful of budget and always seeked the best deals. Never bothered with expensive restaurants or 5* hotels or the latest iPhone. I got the best deals i could and enough that i was satisfied with. And i am a millenial!

I dont really care if others cant buy or can buy. But if they complain about it and it forces change on politics so that i will be taxed more say, then i damn well care. Life is about sacrifice.

Unless this is going to add an extra tax specific to Pot Noodles, Pringles, and re-runs of Jeremy Kyle, I think you'll be fine.

buglawton

Planet_Switzerland wrote: »

I totally agree. I have a smartphone which came free with my contract which costs me £16 a month. I believe 20 something's are more likely to have Netflix than Sky these days which I believe costs £7.99 a month.


What I have noticed though is generally the 20 something's who go on holidays all the time etc that give a whole age group that reputation are the ones who can actually afford a property.


For example I work with someone who seemingly goes to a restaurant for lunch every day, arrives at work with a fancy coffee every morning, is always having some pointless expensive technology device delivered to him and goes on holiday a lot, but his parents have given him a 40% deposit to put down on a flat.


I have another colleague who I would say lives to that stereotype who doesn't even have a mortgage, her boyfriends father bought him a house in cash.


On the other hand I was chatting to someone at work on Friday who's now in his early 30s who told me he hasn't been on holiday for something like 5 years and he doesn't really go out much either, but he's resigned himself to never owning a property.

This is none other than the same mystery of why it's the swanky detached houses that have the expensive German wheels on the drives.

And the answer is: The poor will always be with us (citation - New Testament). I guess the corrolary to that is, the rich will always be with us too.

Reue

moneyistooshorttomention wrote: »

:rotfl: at the thought of what karma is lined-up for someone that doesnt understand that concept of someone wishing to remain in their own area/knowing they're entitled to do so/etc :rotfl:

Some years as a refugee should do it and teach a little bit of sympathy and understanding...:cool:

Entitled to do so? If house prices are too high for you to afford in your area you are not entitled to one of those homes.

I'm not sure what refugees have to do with things but what a horrible thing to wish upon someone..

moneyistooshorttomention

You feel it's perfectly okay to force people to be economic refugees within their own country - since the connection is apparently not obvious to you.

AdrianC

moneyistooshorttomention wrote: »

You feel it's perfectly okay to force people to be economic refugees within their own country - since the connection is apparently not obvious to you.

I don't know who ever promised you 100% home ownership, with everybody able to afford their ideal property in their ideal area - but they were lying.

Reue

moneyistooshorttomention wrote: »

You feel it's perfectly okay to force people to be economic refugees within their own country - since the connection is apparently not obvious to you.

I think it ok to expect people to adapt to their financial situations, yes. You're clutching at straws with any refugee analogy though.

But again; better for people to instead complain on online forums about how unfair life is because they cannot afford to buy a house in the same area as mummy & daddy's 6 bedroomed detached?

moneyistooshorttomention

In my own family - what I would be interested to see is what proportion of English people owned their own homes in (quick bit of mental arithmetic time to allow for when my mother was born) - that makes it 1928 at the latest we owned our own home (grandmother was a home owner - 2?/3? bedroom terrace).

Perhaps you can see where some of us are coming from now...

You will note rather a lot of comments from people in my generation on this forum as to why they are upset at the thought their own (adult) children might not be able to afford the same. Or, in reverse, those (adult) children wondering why...which brings us neatly back round to OP's queries as to why standards of living seem to be going down (instead of up or, at least, static) between my generation and his.

AdrianC

moneyistooshorttomention wrote: »

In my own family - what I would be interested to see is what proportion of English people owned their own homes in (quick bit of mental arithmetic time to allow for when my mother was born) - that makes it 1928 at the latest we owned our own home (grandmother was a home owner - 2?/3? bedroom terrace).

<points up to graph>
Around 25%.

kylej64

I bought my first home at 29 which is a 2 bed flat a few miles away from where I lived at my Parents. I go on holiday once every three years, rarely eat out and don't have an expensive car or contract phone. I am about to sell my flat to buy a house and I am having to look at cheaper areas several towns over to afford what I want.
Expectations should be informed by the financial reality of your situation, not what you want. I've got to move away from the area I grew up in, but thats the compromise I have to make. Eventually I hope to move back, but maybe I'll find somewhere new I'm just as happy to be.

Davesnave

moneyistooshorttomention wrote: »

You will note rather a lot of comments from people in my generation on this forum as to why they are upset at the thought their own (adult) children might not be able to afford the same. Or, in reverse, those (adult) children wondering why...which brings us neatly back round to OP's queries as to why standards of living seem to be going down (instead of up or, at least, static) between my generation and his.

People can be as upset as they like, but standards of living are ultimately a function of economic growth; something that GB Plc hasn't been so good at sustaining for a long time.

The older generation's governments managed to borrow and wheeler-deal to sustain services and a lifestyle they'd become used to, but since 2007 things have changed.

If folks are over 60, they had the best of it, at any time, ever. Not a generation that should grumble too much IMO.