For those who think we had it easy...

franklee

carolt wrote: »

And for the record, all surveys/records show that house prices relative to average incomes are far higher even than at the peak just before the last crash, that percentages of salary spent on monthly mortgage costs by FTB's are the highest ever, etc.

So it's not OPINION that those buying earlier had it easier. It's FACT.

This is a point I fear many on this thread are refusing to see. What we really need is a graph ...

http://forums.moneysavingexpert.com/showpost.html?p=6759228&postcount=9

Zebedee69

notatroll wrote: »

It took a while in this thread but eventually it is at the basics now: self-satisfied-but-somewhat-insecure ‘wise’ properly owners against ‘i-am-even-wiser-(but-more-insecure)’ i-rent-because-i-choose-to-and-not-because-im-somehow-inferior renters. HPC class wars all over again, certainly, - fuelled by generational shift in standards of living/expectations and eternal father-son conflict. Good reading + low flames, thanks.

Hands off the government by the way – they are doing a brilliant job.

Are you sure your not a troll.... Oh and thats the term I was looking for... Troll....

notatroll

Why would i choose this username than?

I do not even like flame wars - see my comments above.

No... no - just a guy. (with nothing better to read at the moment)

Anyway you scared me off now.

Zebedee69

Lol! Sorry Notatroll.....

Welcome to the wonderful world of MSE!

Enjoy!

Zeb

Zebedee69

Okay iv had a chat with my Dad!

He hit the nail on the head maybe?.....

"The problems of years gone by are over. They have been replaced by other ones. Same !!!!.... different decade"

Thats a direct quote ha ha!

tomstickland

>>We are all (young and old) more materialistic now. No one wants to wait >>for anything now.

I have to disagree with this.

pamaris

Well, I have read this entire thread and I must say I am really put off by the sweeping generalizations about young people. However I don't even know if I'm considered a young person any more, since I'm 31 now... though I am a priced out FTB (though I have actually bought twice before, albeit in a different country... but nevermind). I could make a list of all the frugal things I do and the holidays I have never had, etc. etc. But I won't waste my time.

I could also give examples of family members who purchased decent family homes in the 70s in nice areas on one blue collar wage. But I won't waste my time.

The fact is that this is a vastly different economic landscape than was the case in just about any time in the past, even the peaks of previous booms. Many young whipper snappers really are making even bigger sacrifices than their parents and grandparents were required to do just to create a stable and secure home situation.

Another fact is that the current situation is precarious and transient. There are heavily weighted macroeconomic factors stacked on top of house prices at the moment which are going to have to be dealt with sooner or later. I just fail to see how the catastrophe that has been unfolding in the credit markets will not fundamentally change the way things have been done in the housing market the past few years. Essentially, if huge sums of money are not available to fund massive mortgages, prices will fall to match the modest sums that are there.

Count me in as one of the youngsters (young-ish anyway) who have never had an exotic overseas holiday, who spends £10 every 3 months on a pay as you go phone which was a hand me down, who has a pub or restaurant meal once every 2 to 3 months, who does not have name brand clothes (unless picked up on the clearance rack at TK Maxx)... oh and who has no debt... a freakin Toyota Yaris (sexy)... living with my OH & 2 kiddies in my mother in law's home... Dang I just made that list I wasn't going to waste my time doing.

I hope that some of the smug oldies in this thread do realise that priced out FTBs are not necessarily lazy and materialistic. I also hope that the priced out FTBs realise that the situation with house prices is at a breaking point and the long lost partners of wages and house prices will meet once again in the near-ish future.

Running_Horse

Zebedee69 wrote: »

Im just wondering if iv been the victim

Just re-read your first post, and it is obvious now:

Zebedee69 wrote: »

Oh and if you call for an Ambulance dont mention your username to the crew. It might be me and il just leave you there!

You are indeed the victim. You should demand an aplogy from me for your words, and perhaps put in a claim for compensation.

How dare I hold a different opinion from such a helpless victim?:rotfl:

Running_Horse

pamaris wrote: »

Another fact is that the current situation is precarious and transient. There are heavily weighted macroeconomic factors stacked on top of house prices at the moment which are going to have to be dealt with sooner or later. I just fail to see how the catastrophe that has been unfolding in the credit markets will not fundamentally change the way things have been done in the housing market the past few years. Essentially, if huge sums of money are not available to fund massive mortgages, prices will fall to match the modest sums that are there.

And when they do you can get great satisfaction from not buying at the peak. Not to mention the large deposit you will be able to save in the meantime.

two_sheds_2

Poppy9 wrote: »

How many youngsters would today live in a house that had no CH, no kitchen, an ancient bathroom, damp walls and furnished with hand-me down furniture?

err, how do you know where I live?
This is reality for (childless) people on benefits in private rented accom (not eligible for social housing unless you have kids/a habit/refugee status). Because rents are so high (and unregulated) housing benefit won't cover the rent. We have to scrape the rest of it out of food/leccy money.
And there's no end in sight.
Still, making the best of it, what ho.