Bruce Banner

High house prices are good for Millennials so stop moaning.

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Gormless Resolution trust again. This org need putting down.

A good 50% of this 'windfall' will have gone on care fees.

Besides, if millenials cannot afford to buy then housing will become pretty worthless i.e. unsellable.

A great big of macro economics and future predictions all in one, wasted report. Fuxtards.

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Great news!  Who doesn’t want to see an end to meritocracy?

We can get back to that lovely aristocrat/peasant dynamic that our ancestors fought so hard to end. 

Lucky, lucky millennials.  

Edit: Broken window fallacy innit. By ******ing-off people’s chance of a stable home, and ruining the housing stock, we can all get rich!  Fist pump yeah!

Edited by BuyToLeech

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Another boomer success was the spectacular breakdown of marriage and multi marriage families so it's not even like inheritance is as straight forward it used to be

 

 

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Those who have parents and grandparents in the "baby boomer" generation will be left record sums of wealth, the Resolution Foundation said.

But they will have to wait - until, on average, the age of 61, it suggests.

What use is the inheritance at 61?!  May as well pass it on to grandchildren (who should be in their 30s by that point?) straight away.  However, there may not be any grandchildren to pass it on to, if the children never settled anywhere stable/comfortable enough to start a family in the first place.

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12 minutes ago, Bear Hug said:

Those who have parents and grandparents in the "baby boomer" generation will be left record sums of wealth, the Resolution Foundation said.

But they will have to wait - until, on average, the age of 61, it suggests.

What use is the inheritance at 61?!  May as well pass it on to grandchildren (who should be in their 30s by that point?) straight away.  However, there may not be any grandchildren to pass it on to, if the children never settled anywhere stable/comfortable enough to start a family in the first place.

Exactly what happened when my Nana passed, straight to the grandkids so a 9 way split. Of course my mum would have preferred to get the money herself I suspect, if only to use it as a carrot.

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9 minutes ago, Bear Hug said:

May as well pass it on to grandchildren (who should be in their 30s by that point?) straight away.  However, there may not be any grandchildren to pass it on to, if the children never settled anywhere stable/comfortable enough to start a family in the first place.

And hence why there would ultimately be a natural correction at some point in the future....not only would fewer FTBers be able to buy, there won't be as many of them, so even a smaller fraction supporting the first level of the scam? But too late for many on here alas.

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So all you need to do is rent privately for 40 years bringing up your kids in insecure rented accommodation and in your mid 60s after your kids have grown up and assuming your parents wealth hasn't been eaten up by care fees you might get a windfall. 

Really? Wouldn't most people rather own a house from their mid 20s as their parents did - not rent for most of their lives?

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Pathetic attempt to justify the status quo. I have parents who blow their money on all sorts of crap - I doubt there will be much to divide between me and siblings.

What kind of sad life would it be to wait for your parents to die? What happens if they need the money for health care?

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Resolution Foundation

 Director Torsten Bell

Torsten joined the Foundation in September 2015 as Director. Prior to this, Torsten was Director of Policy for the Labour Party and worked in the Treasury, both as a special adviser and a civil servant.

RF also has an ex-cabinet minister, analyst at the DWP, etc etc

http://www.resolutionfoundation.org/about-us/team/

Edited by Democorruptcy

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2 hours ago, Bruce Banner said:

Millennials to enjoy 'inheritance boom'

http://www.bbc.co.uk/news/uk-42519073

Oh it's all ok then, they were all just moaning about nothing more than the price of avocado coloured iPhones :rolleyes:. Hail the free press!

 

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3 hours ago, MARTINX9 said:

So all you need to do is rent privately for 40 years bringing up your kids in insecure rented accommodation and in your mid 60s after your kids have grown up and assuming your parents wealth hasn't been eaten up by care fees you might get a windfall. 

Really? Wouldn't most people rather own a house from their mid 20s as their parents did - not rent for most of their lives?

Pretty much says it all.

 

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They say live with your parents for longer, save the money you would have wasted renting for a deposit......fine if your parents lived down the road to where you happen to work......I can assure you that kids who are fortunate enough to have parents or family with the space, living in places where there are the job choices or the better jobs such as London do live with them for many years.....no shame.....all a ginormous game.;)

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It's all based on "Soaring property prices" :rolleyes:.

Just another, confidence boosting, ramping exercise, timed to hit our TV screens over the festive period and, helpfully, repeated ad nauseam by the property owning journalists at the BBC.

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7 hours ago, MARTINX9 said:

So all you need to do is rent privately for 40 years bringing up your kids in insecure rented accommodation and in your mid 60s after your kids have grown up and assuming your parents wealth hasn't been eaten up by care fees you might get a windfall. 

Really? Wouldn't most people rather own a house from their mid 20s as their parents did - not rent for most of their lives?

Nicely put.

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Just saw a quite astounding piece of property-ganda on the 10pm BBC news. It related to the 'study' that 'shows' millenials stand to inherit the biggest amount of wealth ever:

http://www.bbc.co.uk/news/uk-42519073

The tellybox told me that the majority of the wealth is due to house prices having risen so much.

So, a front-and-centre news piece put together for millions watching gives yet another reason why house prices can't be allowed to fall. It makes the current owners rich, and the future holders of the wealth rich, too!

Can this sh1t just end now, please.

We can't be that collectively thick any more...

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11 hours ago, Bear Hug said:

Those who have parents and grandparents in the "baby boomer" generation will be left record sums of wealth, the Resolution Foundation said.

But they will have to wait - until, on average, the age of 61, it suggests.

What use is the inheritance at 61?!  May as well pass it on to grandchildren (who should be in their 30s by that point?) straight away.  However, there may not be any grandchildren to pass it on to, if the children never settled anywhere stable/comfortable enough to start a family in the first place.

Same in my family.

Whilst my father and the in-laws probably have a good few £m in total to pass on, I'd rather it go to the grand kids.

Neither I or my wife or our siblings really need it as all are in big houses that are mostly paid for and are sat on various other assets. I've just posted about the issues I am going to face with my pension fund, so whilst a £m or two in the back pocket would be lovely, I think it would be more useful to someone in their late 20s starting out.

 

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7 hours ago, Mikhail Liebenstein said:

Same in my family.

Whilst my father and the in-laws probably have a good few £m in total to pass on, I'd rather it go to the grand kids.

Neither I or my wife or our siblings really need it as all are in big houses that are mostly paid for and are sat on various other assets. I've just posted about the issues I am going to face with my pension fund, so whilst a £m or two in the back pocket would be lovely, I think it would be more useful to someone in their late 20s starting out.

 

Agree.

Our inlaws have already done this at our request and monies are now split between grandkids...although the 2 daughters get a 'little something' for a holiday. 

My parents have not done this because I am one of 5 and the pot is relatively modest and the grandchildren count is high😆. However if we inherit from them we intend to immediately gift it to our children. 

We leave a real big pot to our kids too....but they are still young (27/30) but as our own 5 grandkids grow I am sure that plan will change. 

But it's all wrong....house prices need to fall back so everyone can stretch and feel part of it as I did in the 80's. Now the 20 year olds don't really have a chance. 

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9 hours ago, Noallegiance said:

Just saw a quite astounding piece of property-ganda on the 10pm BBC news. It related to the 'study' that 'shows' millenials stand to inherit the biggest amount of wealth ever:

http://www.bbc.co.uk/news/uk-42519073

The tellybox told me that the majority of the wealth is due to house prices having risen so much.

So, a front-and-centre news piece put together for millions watching gives yet another reason why house prices can't be allowed to fall. It makes the current owners rich, and the future holders of the wealth rich, too!

Can this sh1t just end now, please.

We can't be that collectively thick any more...

Keep repeating it and people believe. Houses of parents went up in value so young people are encouraged to do the same. 

My brother has just started the ball rolling on getting a 2 bed new build in a Northamptonshire village and no one told me. He's a lorry driver that spends most of his time in Europe so would only be in the house for 2 nights a week max. When I asked him to discuss it with me, he replied with, "my mind is made up, the government has good schemes for first time buyers like me". That's how they get the sheeple to keep it going. 

Another example, my mother's neighbour has teenage kids and lives in a 3 bedroom house (well, 2 and a box room) in a relatively nice area. The kids will be out in a couple of years so the size is perfect for a couple but they are buying a 5 bedroom place and taking on an extra 200k mortgage because their finance advisor has told them it will be worth an extra 100k in 2 years. 

It's all bonkers, noone is thinking about their quality of life, the risk if there's a reduction in house prices or appreciating the extra money they could have instead of getting a large mortgage. When did British people get so boring? 

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1 hour ago, UnconventionalWisdom said:

It's all bonkers, noone is thinking about their quality of life, the risk if there's a reduction in house prices or appreciating the extra money they could have instead of getting a large mortgage. When did British people get so boring? 

About July 1986. And then reinvented and rediscovered several times since. Boring is the new interesting.

Shall I climb Kilimanjaro or travel across South America in a bike....no, I will buy a house and talk about it a dinner parties.

Boring.....the new interesting.😉

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