How can people be so greedy?

neas

baileysbattlebus wrote: »

At least you don't have sky high interest rates to contend with too.

Its difficult to compare apples with apples here.

I believe the house prices werent 7x salary as they were now or were they?. If they was forgive my ignorance.

Cause if interest rates went to 13% now i'd be paying something dumb like 100% of our salary into the repayments... i.e not feasible so something must've been different.

Benefits_Blagger

neas wrote: »

It is interesting to note that if the older generation did do this... its funny when they expect the younger generation to keep their pensions going and care for them ::rotfl:
I guess we will see what happens .

actually an interesting point, with young people having less disposable incomes due to sky high housing costs these same "older" generation want us to pay their pensions out of whats left and to do this we are now going to have to work longer in our lives than they did.

likewise with higher education, which has formed a major part of this thread. they went to university in 70's and 80's and had their education paid for, yet when it came to them paying for the geneartion behind them. they thought sod it, lets have lower income tax and let the kids pay for themselves.

the generation above us, has had their cake and eaten it,m they have screwed us.

when property crashes and their property portfolio pension plans end up in tatters, the robert maxwells of this world empty their company pension plans and these people are then marching down the street with placards complaing about council tax, bus passes and heating costs then i'm not going to give a toss. because you didnt about me.

Benefits_Blagger

baileysbattlebus wrote: »

We took out the absolute maximum mortgage based on his salary, interest rates were high, I can't remember exactly but it was about 13%, .

when you have sky high interest rates, its because you have sky high inflation.

which means that inflation erodes your debt very quickly, which means that "absolute maximum" mortgage soon become very quickly affordaable after just a few years.

with todays sustained very low (goverment fiddled) inflation figures, in 25 years time people are still going paying a significant amout of their wages on the monthly mortgage. where as in the past people could have traded up without wage increase/promotion just due to the effects of inflation alone.

Stevie1

Benefits_Blagger wrote: »

take the poster above you, andy hamilton, look at his signature "mortgage £430 a month, lodger pays £270 of it, life is good"

that is typical of the attitude we have in this country, people having a smugness about the fact other people are paying for them. being on benefits is no different.

like i have said earlier in the thread i have only adopted this attitude myself, because it is what our society has become..

You are a truly despicable low life and probably just a sad troll.

Davesnave

You are .... probably just a sad troll.



I think he's for real, not a troll. That's what makes it sad

margaretclare

ixwood wrote: »

I think it's funny people moaning about older generations having it easy and ripping us off. Anyone over 50 probably grew up without electricity, central heating, holidays (never mind foreign ones), cars etc and left school at 16 to do manual work.

Actually, that's all true. I even grew up in a tiny cottage without a bathroom and a loo outside that had a bucket that got emptied and dug into the garden - how do you think they grew all those vegetables????

I was luckier than the generations that went before me - for them it was pre-ordained, farm work for the boys and domestic service for the girls. I went to grammar school so I stayed on to age 16. For anyone else, leaving age was 15 and it had been 14 not long before that. Things like cars and telephones - no, it was a class thing, and most people didn't have them.

BTW I do NOT expect anyone to keep me, never have, never will.

Margaret

margaretclare

Benefits_Blagger wrote: »

actually an interesting point, with young people having less disposable incomes due to sky high housing costs these same "older" generation want us to pay their pensions out of whats left and to do this we are now going to have to work longer in our lives than they did.

likewise with higher education, which has formed a major part of this thread. they went to university in 70's and 80's and had their education paid for, yet when it came to them paying for the geneartion behind them. they thought sod it, lets have lower income tax and let the kids pay for themselves.

the generation above us, has had their cake and eaten it, they have screwed us.

when property crashes and their property portfolio pension plans end up in tatters, the robert maxwells of this world empty their company pension plans and these people are then marching down the street with placards complaing about council tax, bus passes and heating costs then i'm not going to give a toss. because you didnt about me.

You illiterate person. Nobody has 'screwed' you. Certainly not the older generations. There have been plenty of examples in this thread of people who have done anything but 'have their cake and eat it'. Look at what baileysbattlebus wrote. That rings true.

You're scarcely worth replying to.

Margaret

Badger_Lady

If our parents and Grandparents have done well, whether through sheer hard work or "luck", the estates they've built up will only go to benefit our children one day.

beingjdc

baileysbattlebus wrote: »

It was never easy to afford your first home, my OH and I married in 1975 and rented until 1982, most people rented first. When we bought our first home for 23.5k, a 3 bed terraced,

I suspect this is another example of people not getting how much things have changed.

Adjusted for inflation, that's the equivalent of £59k. Could someone buy it for £59k today?

Admittedly interest rates were high - your repayments would have been about £250 a month on a repayment mortgage (with basic MIRAS). That's the equivalent of £630 today, for which someone could buy a property worth jst over £100,000. Could someone buy it for £100,000 today?

In addition, interest rates fell throughout 1983, and inflation rose, so the debt was eroded very quickly. Neither of those things are as likely now.

Broken_hearted

I don't see how the older generation has screwed over the younger one, I for one am not old but would expect market value for my house.If I'm lucky enough to own a 2nd, 3rd or even 10th house that will be because I've worked to buy them.