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People In Mid-twenties Just Dont Get It!

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I have noticed that a work a few more people are talking about buying now, even though we are faced with such negative economic news. Our company is doing ok but no pay rises were given this year, so you would think that would make people a bit more cautious about making large financial decisions.

Most of those discussing buying, refer to it as an investment and dont see any problem paying the over inflated prices still being asked as "affordability is ok due to interest rates". I have pointed out to some of them that they were barely teenagers when labour came into power, they have only every seen property prices rise, and a massive credit boom, To which I just get a blank look and get told that "property is an investment"...................argggggggh!

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I have noticed that a work a few more people are talking about buying now, even though we are faced with such negative economic news. Our company is doing ok but no pay rises were given this year, so you would think that would make people a bit more cautious about making large financial decisions.

Most of those discussing buying, refer to it as an investment and dont see any problem paying the over inflated prices still being asked as "affordability is ok due to interest rates". I have pointed out to some of them that they were barely teenagers when labour came into power, they have only every seen property prices rise, and a massive credit boom, To which I just get a blank look and get told that "property is an investment"...................argggggggh!

I would strongly suspect that lack of high LTV mortgages and shortfalls in surveyor valuations will stop most of them from committing financial suicide ;)

Edited by Neverland

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The only people I've found willing to talk about property recently are those mid-twenties to early-thirties who are renting and footloose. My boss visibly winces when he hears us discussing it and seems to need to take himself away, I wonder why that is :lol: .

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I believe there are a fair number of business leaders who are similarly only practised at operating in good times. The issue for them is that their organisations have probably not been used to driving efficiency as well as growing, and it's very hard to take a company that only knows how to grow and ask it to maintain positive attitude whilst streamlining.

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Trust me some of us get it. We do remember the 80s though of course economicaly our experience is through our parents. I'm 28 and I fully recall the last recession. But I also left university into the height of the property boom (2004) and have never been able to afford to buy despite working hard and increasing my income every year, just never fast enough to compensate for HPI.

There are thousands of people in my position; young, educated and in reasonable jobs yet living usually in thrawl to some pig idiot boomer who just happened to be born early enough to mew enough "equity" out of the house they bought for buttons decades ago in order to profit from denying the next generation the opportunities they took for granted.

Don't worry we get it!

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Save your breath. It has become crystal clear to me that an ominously large proportion of people are thick. It is seriously depressing - but there you are. :rolleyes:

:lol::lol: made my morning so true and I feel the same

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Save your breath. It has become crystal clear to me that an ominously large proportion of people are thick. It is seriously depressing - but there you are. :rolleyes:

It has also become clear to me that a large proportion of people in their twenties are trying to enjoy their life, not hang about internet forums moaning.

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Trust me some of us get it. We do remember the 80s though of course economicaly our experience is through our parents. I'm 28 and I fully recall the last recession. But I also left university into the height of the property boom (2004) and have never been able to afford to buy despite working hard and increasing my income every year, just never fast enough to compensate for HPI.

There are thousands of people in my position; young, educated and in reasonable jobs yet living usually in thrawl to some pig idiot boomer who just happened to be born early enough to mew enough "equity" out of the house they bought for buttons decades ago in order to profit from denying the next generation the opportunities they took for granted.

Don't worry we get it!

Get it and like to moan about it as well :lol:

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Trust me some of us get it. We do remember the 80s though of course economicaly our experience is through our parents. I'm 28 and I fully recall the last recession. But I also left university into the height of the property boom (2004) and have never been able to afford to buy despite working hard and increasing my income every year, just never fast enough to compensate for HPI.

There are thousands of people in my position; young, educated and in reasonable jobs yet living usually in thrawl to some pig idiot boomer who just happened to be born early enough to mew enough "equity" out of the house they bought for buttons decades ago in order to profit from denying the next generation the opportunities they took for granted.

Don't worry we get it!

ie , your parents? kill them and inherrit their ill gotten gains! :lol:

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Guest DissipatedYouthIsValuable
It has also become clear to me that a large proportion of people in their twenties are trying to enjoy their life, not hang about internet forums moaning.

Quite. We should be out ripping them off with a smile and gorging on their souls.

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I have noticed that a work a few more people are talking about buying now, even though we are faced with such negative economic news. Our company is doing ok but no pay rises were given this year, so you would think that would make people a bit more cautious about making large financial decisions.

I suspect there are many people "thinking about buying" and maybe talking about it, who don't necessarily have the wherewithal to do so. Others, myself included, are "thinking about buying" but need to see another crash first (c 15%).

But then I'm just beyond my 20s. So I can sort of remember the last crash. In fact I worked with someone in 2000 who was still in negative equity. In 2000! How unlucky is that! (I don't think she mew'd, just that she was in that sort of area...).

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It has also become clear to me that a large proportion of people in their twenties are trying to enjoy their life, not hang about internet forums moaning.

It has also become clear that some people are tedious trolls who rather than debate the point would criticise people for their views on the grounds that they are moaning. Perhaps if they are uninterested in the moaning they could go elsewhere?

I'm similiar ages with Superted and I'd like to second his comment that not everyone of our age is totally thick. Shallow spivs our age are going to get caught out, but then they always do. It will all go quiet soon enough. Ultimately the intelligent will inherit the earth, I firmly believe that. In the end the thick have nothing to offer.

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Get it and like to moan about it as well :lol:

What's your point?

ie , your parents? kill them and inherrit their ill gotten gains! :lol:

I think my post was clear enough that I am talking about landlording. If not then I am pleased to be able to put you straight.

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Trust me some of us get it. We do remember the 80s though of course economicaly our experience is through our parents. I'm 28 and I fully recall the last recession. But I also left university into the height of the property boom (2004) and have never been able to afford to buy despite working hard and increasing my income every year, just never fast enough to compensate for HPI.

There are thousands of people in my position; young, educated and in reasonable jobs yet living usually in thrawl to some pig idiot boomer who just happened to be born early enough to mew enough "equity" out of the house they bought for buttons decades ago in order to profit from denying the next generation the opportunities they took for granted.

Don't worry we get it!

+1

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It has also become clear that some people are tedious trolls who rather than debate the point would criticise people for their views on the grounds that they are moaning. Perhaps if they are uninterested in the moaning they could go elsewhere?

I'm similiar ages with Superted and I'd like to second his comment that not everyone of our age is totally thick. Shallow spivs our age are going to get caught out, but then they always do. It will all go quiet soon enough. Ultimately the intelligent will inherit the earth, I firmly believe that. In the end the thick have nothing to offer.

Put it this way then.

When I was in my mid twenties I was out enjoying myself, as were all my friends. We weren't interested in thinking about settling down.

Does that make us ignorant or make the ones who think we were stupid and irresponsible ignorant?

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. Ultimately the intelligent will inherit the earth, I firmly believe that. In the end the thick have nothing to offer.

They won't inherit the earth, but they will get the houses.

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[...]

There are thousands of people in my position; young, educated and in reasonable jobs yet living usually in thrawl to some pig idiot boomer who just happened to be born early enough to mew enough "equity" out of the house they bought for buttons decades ago in order to profit from denying the next generation the opportunities they took for granted.

Don't worry we get it!

I really wouldn't worry about, as leveraged investors in a declining asset class many of them are hurting like hell now ;)

(see an interesting thread on "a conversation with a private banker" posted earlier this week, at least i think that was the title)

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What's your point?

My point is that there are more than a few people on here who like to blame someone else for what they perceive to be injustices, be it landlords, baby boomers or countless others. It's never their own fault that they can't get what they want.

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Save your breath. It has become crystal clear to me that an ominously large proportion of people are thick. It is seriously depressing - but there you are. :rolleyes:

Most people are very dumb...it wouldn't matter if they weren't allowed to vote, but unfortunately democracy is a blunt tool when it comes to the bovine hords.

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exactly the same situation in my office. guy who's 30 and still lives at home has been going to banks and EAs this week to look at buying a place... he's going in with his brother and bank of mum and dad so they can afford a 2 bed flat! (most likely a newish build slave box of some sort at around 250k)... a week or so ago after a few ales i had a long rant, but he just doesn't get it, doesn't see how wrong it is that with his wage (35k ish), he still needs both his brother and his parents to be able to afford somewhere... its truly nuts, i might not have been very old but i do remember getting 15% interest on my savings in the Yorkshire building society :D at the time i thought it was brilliant, i think in one year i got £20 of interest YAY!

i think because the boom has been so long people have forgotten, 'normal' is totally warped, and even people who should know better are still deluded by it all

(edit: add details)

Edited by dandandan

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Most people are very dumb...it wouldn't matter if they weren't allowed to vote, but unfortunately democracy is a blunt tool when it comes to the bovine hords.

Hordes.

:P

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exactly the same situation in my office. guy who's 30 and still lives at home has been going to banks and EAs this week to look at buying a place... he's going in with his brother and bank of mum and dad so they can afford a 2 bed flat! (most likely a newish build slave box of some sort at around 250k)... a week or so ago after a few ales i had a long rant, but he just doesn't get it, doesn't see how wrong it is that with his wage (35k ish), he still needs both his brother and his parents to be able to afford somewhere... its truly nuts, i might not have been very old but i do remember getting 15% interest on my savings in the Yorkshire building society :D at the time i thought it was brilliant, i think in one year i got £20 of interest YAY!

i think because the boom has been so long people have forgotten, 'normal' is totally warped, and even people who should know better are still deluded by it all

(edit: add details)

He's 30

Lives at home

Is on 35k

WTF?

If he is on 35k why isn't he renting? What does he do? I must avoid using the services of this dingbat. The problem is he has never grown up and doesn't see anything wrong with leeching off his parents into his 30s.

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