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Baby Boomers

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I think the housing market is going to be quite different in the next 5-10 years time. The baby boomers will be looking to sell up and their property is typically the high end of the market. Many have good company pensions and will be after more money from their property as they downsize. Many expensive houses competing to be sold will have a severe downward pressure on property prices. Who can afford to buy them if the demographics of the population is such that the young people of the last few years and those coming up now are saddled with debt. See BBC article today: BBC young people pensions report. This will halt the flow of the property ladder considerably. Chains will be constantly broken.

Note: I am not a boomer just a casual observer of this property racket. I'm more worried that when I retire in 30 years time there will be very poor provision for health care after years of cutbacks and older people will be looked upon as a liability. So baby boomers enjoy your golden years while you still can!!

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Hopefully this will paste as a link - today's Times has an article suggesting the current generation of students will be paying their debts until they're 35. How are they going to be able to get on the housing "ladder" at all, yet alone get up to the dizzy heights of 4/5 bed family homes - unless prices drop significantly? Yet another way in which the present generation pay for what their parent's got for free - either university education (for the few) or work-based training (for the many). One of the most unreported shifts in recent years is the way in which business generally has effectively transferred (externalised) the cost of training onto their employees. Last year I worked at a nursing college, whose students pay to do degrees, whereas previous generations of nurses were trained while paid salaries and often given nurses' accommodation. It would be fascinating to know how much financial burden has been loaded onto young people, the "property owners" of the future, by this shifting of training costs. Roll on crash city.

Times article student debt

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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