Briton's Are "19 Years Behind Life Goals"

[Bloo Loo]

Yep, that's quite a common view re: their houses & pensions.

It seems all the boomers are planning on cashing in on their housing wealth............ all at the same time...............yet still selling at bubble prices. hmmnn... ?

Who will they be selling to I wonder?

why boomers...ANYONE getting on the ladder expects to make money.

[winkie]

Exactly my view of what the current 50+ viewpoint seems to be. What's interesting is that I expected the idea of not giving pensioners everything, regardless of what they've earned, would remain unassailable for at least another 5-10 years. I was shocked to see some of the earliest questions on question time last week were highlighting that exact issue and getting some support.

If you're going to pop your clogs in the next 5-10 years you'll have done very nicely. For people who will need the state to support them for longer than that I'd be worried. Anyone who is currently 50-60 needs to have a long hard think about just how much they are relying on the state to support them and whether it'll still be willing to in 10-15 years time if public sentiment changes.

.....Hopefully they will have their houses they can spend and their children to help support them...why should the state support anyone if they have the means to support themselves?...

[pilchardthecat]

The thing is, most Britons only have themselves to blame, if they are "19 years behind life goals" because they haven;t actually done anything to reach those goals.

People are so short sighted. How many people do you know who do financial planning on timescales longer than a month or two, let alone a 5 or 10 year plan?

People MEW because they want something now, they get other loans because they want something now, they get IO mortgages, cars on monthly payments that they'll never own......

Yes there's lots wrong with the system, but you can't externalise all of the fault and be the victim. For a goal to be a goal, you must have worked out how to get there - otherwise it's just a dream.

[Bloo Loo]

The thing is, most Britons only have themselves to blame, if they are "19 years behind life goals" because they haven;t actually done anything to reach those goals.

People are so short sighted. How many people do you know who do financial planning on timescales longer than a month or two, let alone a 5 or 10 year plan?

People MEW because they want something now, they get other loans because they want something now, they get IO mortgages, cars on monthly payments that they'll never own......

Yes there's lots wrong with the system, but you can't externalise all of the fault and be the victim. For a goal to be a goal, you must have worked out how to get there - otherwise it's just a dream.

How many people do you know that are even ABLE to plan more than the month ahead?...the pay cheque arrives, the bills spread before thee...and its gone.

[winkie]

The thing is, most Britons only have themselves to blame, if they are "19 years behind life goals" because they haven;t actually done anything to reach those goals.

People are so short sighted. How many people do you know who do financial planning on timescales longer than a month or two, let alone a 5 or 10 year plan?

People MEW because they want something now, they get other loans because they want something now, they get IO mortgages, cars on monthly payments that they'll never own......

Yes there's lots wrong with the system, but you can't externalise all of the fault and be the victim. For a goal to be a goal, you must have worked out how to get there - otherwise it's just a dream.

One marshmellow or Two.

[pilchardthecat]

How many people do you know that are even ABLE to plan more than the month ahead?...the pay cheque arrives, the bills spread before thee...and its gone.

Victim syndrome.

How many of those people are struggling because they have never planned? and therefore they've over-borrowed. If you don't plan, you determine your "means" on a month-in/month-out basis and live to that level..... then the financial environment changes and you're stuffed - because you haven't improved any of the long-term things that improve your financial position over time, such as paying down debt.

If those people had just chosen not to spend 10% or 20% of their monthly non-essential disposable income for the last 5 or 10 or 15 years, they would be able to absorb some shocks and keep planning now for the next few years.

[cybernoid]

So.........If you began working, around 1997, and the average house price tripled, over the next 10 years, whilst the average wage rose by £6k, [plus utilities tripled and council tax doubled, and we saw rising inflation in other staples like food] its your own fault if you could not afford a house, and the millions this applies to, should just shut up and stop being victims?

There you go again, with your facts! Look, we all know that really it's because they bought ipods, everyone knows it, even dear old martha at number 39 has worked it out, why she was only saying to me the other day when she got back from that cruise, she said 'its because they all have ipods' she said. I want grandchildren not an ipod she said, they should just work hard like we all did she said. Then she said 'well not me,i was at home staring at the wall, but my husband did,well sort of, he certainly sat down at a desk an awful lot and was bored, but then thats what you have to do, see if he had an ipod we wouldnt have this detached bungalow that we keep taking money out of to pay for everything. It's still not sold you know, we dropped the price 2k! Those kids want it all straight away PLUS ipods!! they're all so greedy. And lazy!'

[pilchardthecat]

So.........If you began working, around 1997, and the average house price tripled, over the next 10 years, whilst the average wage rose by £6k, [plus utilities tripled and council tax doubled, and we saw rising inflation in other staples like food] its your own fault if you could not afford a house, and the millions this applies to, should just shut up and stop being victims?

On the face of it you're post is nonsensical.

High housing costs increase all other living costs, production costs, governmnent taxes, impoverishing us all, and high housing costs break up families, or make prudent decent people delay having families, embelish feelings of worthlessness, has a massively detrimental, adverse effect on your quality of life, and makes millions suffer from clinical depression etc etc.

Feeling like a victim, when the 'have's and the have nots' has not been as polarised since the time of Dickens, as a direct result of Government sponsored fraud, and theft, is probably a very sane reaction, as is real anger, and justifiable outrage.

The Incumbent British Government really dont care about this though. It's only important that they seem to

Like i said i accept that the system is broken, and housing is too expensive

But i look at my peers (most in their 30s, some older some younger) the ones that are struggling are all ones who live in the way that i describe. For the last 5-15 years (since they have been working) every one of them has CHOSEN to spendt every penny of their disposable income on consumables and shiny stuff, with not one monemt of consideration for next year.

That's nobody's fault but their own.

Edited March 29, 2012 by pilchardthecat

[South Lorne]

Like i said i accept that the system is broken, and housing is too expensive

But i look at my peers (most in their 30s, some older some younger) the ones that are struggling are all ones who live in the way that i describe. For the last 5-15 years (since they have been working) every one of them has CHOSEN to spendt every penny of their disposable income on consumables and shiny stuff, with not one monemt of consideration for next year.

That's nobody's fault but their own.

...well somebody had to help China take off....

[erranta]

It is all about house prices

High housing costs have priced the British worker out of the world jobs market. It's bloody obvious what's happened.

High housing costs

leads to

Need for workers to demand higher salary to keep up

leads to

Less competitive workforce, compared to low housing cost economies

leads to

More UK jobs being outsourced overseas, or imported (initially) cheap immigrant labor

leads to

Jobless society, mass unemployment

leads to

'Homeowners' wishing for yet more house price rises to supplement their dwindling income.

leads to

greater collapse in the jobs market.

eventually leads to

Total economic collapse

You forgot all the higher insurances cost rip-offs by the few Big business Insurance companies left (They create an illusion that there is competition but nearly all insurance costs are dictated by and underwritten by just TWO huge players)

The concentration of the country's productive force earned income sucked up by the bankers thru massive, incrementally larger takes, from Mortgage interest.

The pure theft as the City-types have ripped off UK's Pension savers thru higher charges

(eg Holland pensioners get 40% higher pensions from regulated saving schemes than we do cos of excessive fees and charges taken out of Pension savings)

The vast majority of us would be far better off without THE CITY - it just exists as a vast enslavement cashpoint for the uber-greedy 1%ers

Edited March 29, 2012 by erranta

[billybong]

...well somebody had to help China take off....

Exactly.

There was little or no supply of manufactured tat from within the UK any more (intentionally or unintentionally) so few jobs from that source. But they needed UK jobs - and tat etc.

So lending to buy houses, house prices up, house boom, new jobs, MEW, more jobs extra wages, extra pocket money, more liar loans etc etc etc............. Then it went over the top.

So they achieved 2 things at once. Jobs and "growth" in the UK and and helped towards jobs and growth in China (and elsewhere).

Now it's helped towards economic collapse all over the world.

It's been said many times before of course.

Edited March 29, 2012 by billybong

[erranta]

...well somebody had to help China take off....

Wrong

British Elites closed down English industries en-masse and shifted production to Asia/China

The English elite owners thru shareholdings etc still grab the profits

Nearly 90% of Shares are owned by the Worlds Wealthiest famillies!

It was a deliberate act to help collapse this country - as has been on-going since "THE BIG BANG"

Edited March 29, 2012 by erranta

[winkie]

Wrong

British Elites closed down English industries en-masse and shifted production to Asia/China

The English elite owners thru shareholdings etc still grab the profits

Nearly 90% of Shares are owned by the Worlds Wealthiest famillies!

It was a deliberate act to help collapse this country - as has been on-going since "THE BIG BANG"

...but business is not a charity......there is plenty enough for everyone to have some, but some want more than others and they know that money will allow them to get it and get away with it....human nature I am afraid, no one can change that because the ones that could change it would be disadvantaged.

[erranta]

...but business is not a charity......there is plenty enough for everyone to have some, but some want more than others and they know that money will allow them to get it and get away with it....human nature I am afraid, no one can change that because the ones that could change it would be disadvantaged.

Even the Victorians saw the light and started providing better facilities for their workers to spread the wealth- something that UK immoral greed/bonus tunnel visioned business leaders have forgotten

It's all going to turn & bite them in the face - China's leadership is full of uber-corrupt immoral leaders.

Things will change there or a massive civil/guerrilla war is going to errupt at some point as people get fed up with their leaders corruption and execution of any opposition

But it is in the Masonic Manifesto extolled by PIKE

"to bring countrys to their knees, outlaw christianity (crosses taken down, banned wearing crosses at work, Dr sacked for sending Christmas best wishes to staff) and introduce the pure luciferic religion"

Edited March 29, 2012 by erranta

[winkie]

Even the Victorians saw the light and started providing better facilities for their workers to spread the wealth- something that UK immoral greed/bonus tunnel visioned business leaders have forgotten

It's all going to turn & bite them in the face - China's leadership is full of uber-corrupt immoral leaders.

Things will change there or a massive civil/guerrilla war is going to errupt at some point as people get fed up with their leaders corruption and execution of any opposition

But it is in the Masonic Manifesto extolled by PIKE

"to bring countrys to their knees, outlaw christianity (crosses taken down, banned wearing crosses at work, Dr sacked for sending Christmas best wishes to staff) and introduce the pure luciferic religion"

....the Victorians had the same vested interests as they do today, except today they have invented new ways of doing things that were not around in thoes days......new places and people to negotiate with.....you're not worried are you, you shouldn't be?

[erranta]

....the Victorians had the same vested interests as they do today, except today they have invented new ways of doing things that were not around in thoes days......new places and people to negotiate with.....you're not worried are you, you shouldn't be?

I'm not worried Wink - cos i'm not a 5th columnist Mason undermining my own country like you!

Futile and will end with recriminations - as always thru history

[winkie]

I'm not worried Wink - cos i'm not a 5th columnist Mason undermining my own country like you!

Futile and will end with recriminations - as always thru history

We don't live in bubbles we create them.

[erranta]

NAMUR/RUM-an(ians)

A city of Belgium, where the Primitive Scottish Rite was first established; hence sometimes called the Rite of Namur.

Belgium poisoned Heart of Europe/EEC - run by secretive 'cabuls' of unelected, divicive, duplitious, Masons

Edited March 29, 2012 by erranta

[Bloo Loo]

Exactly.

There was little or no supply of manufactured tat from within the UK any more (intentionally or unintentionally) so few jobs from that source. But they needed UK jobs - and tat etc.

So lending to buy houses, house prices up, house boom, new jobs, MEW, more jobs extra wages, extra pocket money, more liar loans etc etc etc............. Then it went over the top.

So they achieved 2 things at once. Jobs and "growth" in the UK and and helped towards jobs and growth in China (and elsewhere).

Now it's helped towards economic collapse all over the world.

It's been said many times before of course.

of course, a monthly trade deficit means the money is leaking out all the time..eventually, there will be a liquidity crisis..its only maths.

[cybernoid]

But i look at my peers (most in their 30s, some older some younger) the ones that are struggling are all ones who live in the way that i describe. For the last 5-15 years (since they have been working) every one of them has CHOSEN to spendt every penny of their disposable income on consumables and shiny stuff, with not one monemt of consideration for next year.

That's nobody's fault but their own.

iPods are shiny. My god you're right!

How do you know what they spent their money on, what their income is and how much of a proportion of their total spend was on rising rents? How do you know which ones are 'struggling'? Consumables and shiny stuff are dirt cheap compared to the essentials, it's insignificant. Unless any of them were driving around in ferraris you're talking sh1ite.

There have always been a proportion of every generation who spend more than they earn and don't think of the future, so what's different this time? Is it the largest asset bubble of all time, or is that just irrelevant?

Perspective.

Anyway you're a fking cat, what do you know.

[Police]

of course, a monthly trade deficit means the money is leaking out all the time..eventually, there will be a liquidity crisis..its only maths.

Bad maths more like.

[Spoony]

Its ALL about house prices.

Im in this category, and so are millions of others according to Shelter.

Next year, I will be 19 years behind, the year after, 20 years behind.

Thre average house Price TRIPLED in a decade, whilst the median UK wage rose by just 6.5k. Utilities also tripled under Labour and council tax doubled.

Youre 38 years old, and youve been unable to afford a house since you began working. Yet people on the same wage, doing the same job yet just two years older, are sitting on £300k assets they paid 80k for.

And the Governmnet still keeps the bubble inflated. Youve been forced to waste tens of thousands in rent, and put all lifes major decisons on hold.

Youre worthless.

So long as you dont finally snap, and walk into [somewhere] wielding a large weapon, the Government thinks everything is ok.

I'm 39. I left school at 16. Got an apprenticeship at 17 (1990) , was paid £9000 to learn on the job electronics and go to college. Reading threads like this confirms to me what I thought at the time--. Uni is a waste of time and your life. Thats 4 years where I won't earn a wage. My sister thinks she is superior to me as she did go to uni. Well this route enabled me to buy a house at the age of 23, when a 3 bed semi cost £45,000 basic or £60,000 for a bigger upmarket one. My only regret is didn't do that, as a 50K mortgage seemed like a lot at the time. Well when you are only earning 23K combined it is! Although it wasn't much looking back... but we went for a shared ownership instead with ultra low rent. Now I have the mortgage paid and and waiting for the day when this ponzi scheme collapses down to true levels and I'm hoarding cash in the meantime. If only I'd bought that normal £45K house. I am so genuinely annoyed for all of those who are priced out. I was just lucky.

Edited March 30, 2012 by Spoony

[PopGun]

I'm 39. I left school at 16. Got an apprenticeship at 17 (1990) , was paid £9000 to learn on the job electronics and go to college. Reading threads like this confirms to me what I thought at the time--. Uni is a waste of time and your life. Thats 4 years where I won't earn a wage. My sister thinks she is superior to me as she did go to uni. Well this route enabled me to buy a house at the age of 23, when a 3 bed semi cost £45,000 basic or £60,000 for a bigger upmarket one. My only regret is didn't do that, as a 50K mortgage seemed like a lot at the time. Well when you are only earning 23K combined it is! Although it wasn't much looking back... but we went for a shared ownership instead with ultra low rent. Now I have the mortgage paid and and waiting for the day when this ponzi scheme collapses down to true levels and I'm hoarding cash in the meantime. If only I'd bought that normal £45K house. I am so genuinely annoyed for all of those who are priced out. I was just lucky.

£9000 a year on an apprenticeship upon leaving school in 1990?!

Many full time graduate jobs weren't paying as much as that in the mid ninties, never mind early.

Edited March 30, 2012 by PopGun

[VeryMeanReversion]

Anyway you're a fking cat, what do you know.

I hereby award you Quote of the Week.

Woof.

[Bloo Loo]

snip

(eg Holland pensioners get 40% higher pensions from regulated saving schemes than we do cos of excessive fees and charges taken out of Pension savings)

The vast majority of us would be far better off without THE CITY - it just exists as a vast enslavement cashpoint for the uber-greedy 1%ers

I was at a meeting last night about City unemployment, and having visited the City earlier in the week, it was quite an eye opener to see so many floors of office blocks, new and old, empty.

The meeting was about Outplacement...which seems to be about the largest Growth Industry in the City.

Outplacement is where the firm making you redundant pays for a period for you to attend an office after you get the boot..people at the meeting were mixed about how much it helped, but with tens of thousands of financial staff facing the boot ( there were several at the meeting) this new "industry" is going to be a new drag on the economy...producing nothing and providing jobs for psuedo professionals.

And, listening to what other attendees were actually doing in the city, and having worked in and for City firms...I suddenly came to the conclusion that much of the CITY is really just a glorified CALL CENTRE.