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How House Prices And Debts Are Building Ugly Tensions Between Parents And Their Children


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#31 Bruce Banner

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Posted 09 September 2010 - 02:17 PM

It's an interesting point. Clearly individually the answer is no. But as a group you voted time after time for political leadership that led to this situation.

Then again, I'm 40 odd and don't think of myself as a baby boomer, but I wonder what future generations will think of us with the bank bailouts and the last ten years. I don't think they will have a very generous opinion of what we have done, or haven't done to stop it.



Sorry, but I really don't see how I can be held responsible for what others of my generation have done. I have never voted Labour (New or otherwise) and actively campaigned against them, have never claimed benefits, always paid tax and NI. I am now retired on a modest annuity funded by my private pension payments and my savings. I won't qualify to draw my state pension for another.... well, I'm not sure how many years as it looks like that's going to change.
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Lest there be any doubt.

No I believe prices will fall and am astounded that a so called Conservative led government could act in such a stupid way. As you can see from today, there are 2,000 HtB applicants and it has been on MSM none stop all day and they make up about 3.5% of a typical months mortgages.

BTL is a good potential way to bankruptcy and yes sometimes I make points to hopefully make people think.


#32 twatmangle

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Posted 09 September 2010 - 02:22 PM

Sorry, but I really don't see how I can be held responsible for what others of my generation have done. I have never voted Labour (New or otherwise) and actively campaigned against them, have never claimed benefits, always paid tax and NI. I am now retired on a modest annuity funded by my private pension payments and my savings. I won't qualify to draw my state pension for another.... well, I'm not sure how many years as it looks like that's going to change.


But the ultimate question is... will you die at 72 as predicted, as per the calculations when your tax and NI contributions were calculated?

For boomers, anything beyond 72 is just theft.

Me? I'll probably be expected to work until 72
I have nothing to say....

#33 Alan B'Stard MP

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Posted 09 September 2010 - 02:24 PM

Me? I'll probably be expected to work until 72

Can't you just double-count?

Whats good for the goose......

#34 Bruce Banner

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Posted 09 September 2010 - 02:29 PM

But the ultimate question is... will you die at 72 as predicted, as per the calculations when your tax and NI contributions were calculated?

For boomers, anything beyond 72 is just theft.

Me? I'll probably be expected to work until 72


There is no point in debating with a fool, so I won't try.
.



----------------------------------------------------------------------------------------------------------
Lest there be any doubt.

No I believe prices will fall and am astounded that a so called Conservative led government could act in such a stupid way. As you can see from today, there are 2,000 HtB applicants and it has been on MSM none stop all day and they make up about 3.5% of a typical months mortgages.

BTL is a good potential way to bankruptcy and yes sometimes I make points to hopefully make people think.


#35 Wait & See

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Posted 09 September 2010 - 02:45 PM

Too many old folk are just taking up space on land. Can we not find special boats for them, so that they can be on a permanent cruse. Then their properties can be used to bring up the next generation.

What do you think about that idea. :blink:

#36 Bruce Banner

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Posted 09 September 2010 - 02:46 PM

Too many old folk are just taking up space on land. Can we not find special boats for them, so that they can be on a permanent cruse. Then their properties can be used to bring up the next generation.

What do you think about that idea. :blink:


I think that you are behaving like a spoilt child.
.



----------------------------------------------------------------------------------------------------------
Lest there be any doubt.

No I believe prices will fall and am astounded that a so called Conservative led government could act in such a stupid way. As you can see from today, there are 2,000 HtB applicants and it has been on MSM none stop all day and they make up about 3.5% of a typical months mortgages.

BTL is a good potential way to bankruptcy and yes sometimes I make points to hopefully make people think.


#37 Wait & See

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Posted 09 September 2010 - 02:48 PM

Ship them out, that's what I say. :ph34r:

#38 misfit

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Posted 09 September 2010 - 02:59 PM

My only issue with Boomers is with those who have piled into BTL thus fuelling the rise in house prices and ultimately stripping the younger generation of their 'wealth' (I use that term very loosely).

Some things are damaging to society, FACT. BTL and booming house prices should've been stopped. Clearly morality wasn't going to do it (it rarely does when money is involved) so legalisation should have (I know! this has already been said a million times on here).

For any defenders who would argue that they're just providing a service, market forces, blah, blah, etc the same argument could be applied to drug dealers but the effect is the same. Destruction of young lives.


I could not agree more

Market forces do not apply as defenders say trust in market forces but this is disengenuous as markets were deregulated in the late 90's and interest rates have been manipulated for the last 10 years which has helped to lead us down this road. Andrew Sentance said as much recently in a R4 interview. He is the only one voting for a rate rise at the moment. It is about time someone listened to him before it results into a front page headline shocker in months to come.

I now feel like I need a drop of Talisker to celebrate the post of the day

M

#39 misfit

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Posted 09 September 2010 - 03:00 PM

Too many old folk are just taking up space on land. Can we not find special boats for them, so that they can be on a permanent cruse. Then their properties can be used to bring up the next generation.

What do you think about that idea. :blink:


I for one do not like it

M

#40 winkie

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Posted 09 September 2010 - 04:25 PM

They may have paid in for 40 years, but they didn't pay in enough.



They paid in far less than they are now receiving overall even taking inflation into consideration.......I know of index linked pension benefactors that have been receiving a pension for more years than they worked for it..... :blink:
What you don't owe won't worry you.

Less can be more.

#41 Bruce Banner

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Posted 09 September 2010 - 04:46 PM

They may have paid in for 40 years, but they didn't pay in enough.


I wouldn't have paid a penny into the state pension system if I'd had a choice, I'd much rather have put the money into my private scheme or just saved the money. But the government took it from me and in return promised a pension. Now that it's getting near the time that pension is due to be paid, there are people moaning that it's unfair.... well whoopity shit :rolleyes:.
.



----------------------------------------------------------------------------------------------------------
Lest there be any doubt.

No I believe prices will fall and am astounded that a so called Conservative led government could act in such a stupid way. As you can see from today, there are 2,000 HtB applicants and it has been on MSM none stop all day and they make up about 3.5% of a typical months mortgages.

BTL is a good potential way to bankruptcy and yes sometimes I make points to hopefully make people think.


#42 Joan of The Tower

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Posted 09 September 2010 - 04:55 PM

Let's not forget this is Ian 'Irresponsible lending is a good thing' Cowie. Pillock.


Look out Dave, you will soon be handing the keys back mate.



The knimbies who say "No" demand..... a sacrifice!
Arthur: Knimbies of No, we are but simple hardworking families who seek affordable housing on the scrubland beyond these woods.
Knimbies of No: No! No! No! No! No! No! No! No! No!
Bedevere: Please stop opposing our reasonable demands!
Knimby of No: We shall say "No" to you... if you do not appease us.
Arthur: Well what is it you want?
Knimby of No: We will allow you to build your precious high density shoeboxes, so long as you do not move so much as....

(pregnant pause)

A SHRUBBERY!!!!


#43 headrow

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Posted 09 September 2010 - 04:57 PM

Sorry, but I really don't see how I can be held responsible for what others of my generation have done. I have never voted Labour (New or otherwise) and actively campaigned against them, have never claimed benefits, always paid tax and NI. I am now retired on a modest annuity funded by my private pension payments and my savings. I won't qualify to draw my state pension for another.... well, I'm not sure how many years as it looks like that's going to change.



So where did the wealth come from that affords you a lifestyle of living off your interest?

Edited by headrow, 09 September 2010 - 04:57 PM.


#44 Bruce Banner

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Posted 09 September 2010 - 05:00 PM

So where did the wealth come form that affords you a lifestyle of living off your interest?


I owned a business, made things, created wealth, employed people who paid taxes, ...... must I go on.
.



----------------------------------------------------------------------------------------------------------
Lest there be any doubt.

No I believe prices will fall and am astounded that a so called Conservative led government could act in such a stupid way. As you can see from today, there are 2,000 HtB applicants and it has been on MSM none stop all day and they make up about 3.5% of a typical months mortgages.

BTL is a good potential way to bankruptcy and yes sometimes I make points to hopefully make people think.


#45 dances with sheeple

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Posted 09 September 2010 - 05:08 PM

Exactly. If they were just taking back what they'd paid in then everyone would be saying fair enough. What bothers me is that most of them don't seem to realise just what they are doing - they honestly think that (a) it's supportable, and (Posted Image the next generation can go on and do exactly the same, ad infinitum.


Exactly, most boomers will die very poor because the pension and the property are not going to pay out. 2007 was cash out time, it`s now gone. Younger people are going to have cheap houses, but have to face up to peak oil etc?




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