25 Brexit need-to-knows

spadoosh wrote: »

Yeh my mum and dad where exactly the same (just two kids though). Still pretty cushty being able to live off a single armed forces wage and feed a family. You couldnt do it now could you? O and im assuming your pension is as sweet as my dads too? My dad doesnt think hes had a hard life, theres a possibility you rubbed shoulders on his falklands tour. I wish i could get a pension like his.

I suspect it was only as hard as it is now if im honest. I pulled in my purse strings before buying, needed a 10% deposit, the deposit included money saved from my paper round. Housing just isnt really considered an investment anymore as shown by pretty stagnant price increases. We did have to include two full time wages on our mortgage application otherwise it simply woulnt be affordable.

As mentioned im sure life was hard and will be hard. For me its pretty easy if im honest. Homeowner at 24, should be mortgage free a little after 40, ive been made redundant a few times and my wage growth has been pretty much static since i started working full time but ive made sure i can make do on minim wage earnings. Its just people of the 70's and 80's always like to highlight all the [STRIKE]bad[/STRIKE]in proportion things like high interest rates. They forget all the [STRIKE]good[/STRIKE] in proportion things like booming economy, house price increases and much higher earnings per hour individually.

Ill call out anyone who makes out there life was particular difficult due to one specific factor and neglecting all others whilst probably sat there being retired early, sat on wealth that is above and beyond anything theyve ever actually contributed. IM sure it will be similar for me, the difference is, i dont make out the next generation have it so much easier. Well, largely because i suspect they wont.

spadoosh wrote: »

Just have a look at economic activity from the time of 15% interest rates. Were talking from about mid 70s to lates 80s when those numbers in play right.

As for the nurses, a regional nursing officer in 1974 was earning £8001 the same person in 1981 was earning nearly £22k. Over the period thats a 174% increase so it looks like we're both bad with numbers if they only ever received 3% pay rises during that time. And then youve got the working week dropping from 40 to 37.5 hours as well which gets forgotten about, i mean you forgot that didnt you? Adjusted for inflation and the figures help you out more because over the same period inflation was ~170%. So not a huge like for like pay rise but those figure use RPI which did account for mortgage interest inflation where as now we use CPI which doesnt.