Will there really be a crash?

BikingBud

margaretx9 wrote: »

In due course renters will outnumber owners - it is already happening in London - and politicians will have to change course to ensure they continue to get elected. What of course is most scary is what happens when all these private renters retire - the housing benefit bill will be crippling.

As for the above poster who said people despise renters - does that mean we now despise our kids and grandkids. Cos increasingly they are renting - many into their 40s and beyond.

And then the problems really start as the many, especially the young with very limited earnings, cannot afford to buy the overpriced assets of the few. We have screwed our kids and future generations for years to come.

I think triathlon actually has so much hate he despises his own reflection!

BikingBud

bertiewhite wrote: »

Or look at it this way - the renter will still be renting into retirement and although they will have the free time to do stuff, they'll have less money.

The homeowner (eg. me) is more likely to have paid off the mortgage by the time they've retired and have more money AND time to do something with their lives.

Health, happiness and time to spend with the ones I love is much more important than counting cash.

And let's all remember when you are sucking porridge and forgetting to put your pants on when you go shopping, owning a house will come in tidy to pay for your care.

And as we all know you cannot take it with you, I'm sure the government will find a way to bring it all into the public coffers :beer:

ukcarper

BikingBud wrote: »

And then the problems really start as the many, especially the young with very limited earnings, cannot afford to buy the overpriced assets of the few. We have screwed our kids and future generations for years to come.

I think triathlon actually has so much hate he despises his own reflection!

It's not as simple as that the property will eventually be inherited by the children of present owners. Also how have we screwed our kids I don't now about you but I have just bought a house and lived in it.

Sapphire

BikingBud wrote: »

And then the problems really start as the many, especially the young with very limited earnings, cannot afford to buy the overpriced assets of the few. We have screwed our kids and future generations for years to come.

I haven't 'screwed' anyone. I bought a maisonette long ago, which it took me many years and a lot of hard work to pay for. I couldn't care less how much it is 'worth', but need it for security. Oh, and for information, I will not inherit anything, unlike so many of those 'poorly done by' young you talk about.

If you want to 'blame' anyone, blame speculators, property being changed into a 'market', property developers, and buy to let, which should never have been allowed to expand to the extent it has.

You can blame 'limited earnings' on a lot of things that have gone wrong in this country in the past few decades. They've been discussed elsewhere.

lookstraightahead

bertiewhite wrote: »

Or look at it this way - the renter will still be renting into retirement and although they will have the free time to do stuff, they'll have less money.

The homeowner (eg. me) is more likely to have paid off the mortgage by the time they've retired and have more money AND time to do something with their lives.

Personally I'm not bothered who owns and who rents. I just think this country places so much importance on bits of cement. When you look at the recent hurricanes you realise that all it is usza pile of rubble, owned or rented.

BikingBud

@sapphire
Did I direct any comment towards you?
Did I blame anybody?
Did I use the phrase "poorly done by"?
Did I say anything about if or what you might inherit?

We all recognise that kids are on much less than the average wage and are forced to start life with debt. Yes uni fees can pretty much be waived as the taxpayer will cover those.

And as you have recognised they have to rent from speculators and parasitic landlords that have been fortunate to get a break and are willing to exploit their kith and kin.

It's easy for some to sit there and profess to be wizard entrepreneurs and try to take full responsibility for their fortunate and exalted position but we all know it is absolute luck. And if it was down to their individual skills, knowledge and personal capabilities they would be asking the fries question:lipsrseal

BikingBud

lookstraightahead wrote: »

Personally I'm not bothered who owns and who rents. I just think this country places so much importance on bits of cement. When you look at the recent hurricanes you realise that all it is usza pile of rubble, owned or rented.

✔︎ Yep I would only qualify that as irrational importance.

There would be lots more than spilt milk for them to cry over then.

But I am sure the exalted ones can bring their prowess in project management to get the tooth fairies to restore everything overnight.:rotfl:

Rich2808

ukcarper wrote: »

It's not as simple as that the property will eventually be inherited by the children of present owners. Also how have we screwed our kids I don't now about you but I have just bought a house and lived in it.

Fine assuming you are an only child and your parents don't need to sell their house to fund their social care. The average priced house would now barely fund 3 years residential care let alone nursing care if you get dementia.

And you will only need to wait until your mid 60s to own - assuming one or both of your parents lives to the average life expectancy. How great for future generations!

The young will be the ones wiping your backside when you get old - so show them some respect.

ukcarper

Rich2808 wrote: »

Fine assuming you are an only child and your parents don't need to sell their house to fund their social care. The average priced house would now barely fund 3 years residential care let alone nursing care if you get dementia.

And you will only need to wait until your mid 60s to own - assuming one or both of your parents lives to the average life expectancy. How great for future generations!

The young will be the ones wiping your backside when you get old - so show them some respect.

I don't see how I have disrespected the young if you come to that conclusion from my post you have a very big chip on your shoulder.

The majority of people do not go into care so most of money will be passed down also many couples will receive two inheritance.

Sapphire

Rich2808 wrote: »

The young will be the ones wiping your backside when you get old - so show them some respect.

How vile and disrespectful, and typical of the attitude to the elderly today. It just illustrates to me why the poor, helpless, frail people in care homes today are the forgotten ones in our society. I hope you experience what they are experiencing today.

'The young' of this country will be doing no such thing, given the amount of cheap foreign labour (some of it obviously untrained and barely able to speak English) that is used in care homes. I have seen this personally when it comes to two family members, and so have friends with their family members, in care homes paid for by the kin.

I have no respect for 'the young' of today. They are selfish, spoilt and brainwashed, living in luxury compared with most of their parents and certainly their grandparents, yet constantly moaning. Conversely, I have a lot of respect for my elders, who worked incredibly hard uncomplainingly all their lives (some five decades), and didn't earn high salaries or have the sorts of expectations that people have today (including 'must-have stuff' bought on credit, aka incurring debt).