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Mew Addiction By Boomers

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Firstly my apologies for a link to the Daily Hate, but today is Saturday and the car's broke so I fancied a laugh. This article is about another matter entirely but it was the property aspect that caught my eye.

http://www.dailymail.co.uk/femail/article-1349489/The-Christian-hotelier-guilty-gay-bias-looks-set-lose-home-asks-So-whos-really-persecuted.html

The owners of this guest house are a 71 year old man and his 66 year old wife so both on the state pension.

From the article:

"They bought the house in 1986 for £81,000 and ploughed the money they’d made from their first B&B in Cornwall into it, renovating and updating the building.

They are now incapable of paying their £2,800-a-month mortgage, and have come to an agreement with their lender to pay less, for now."

So they bought it in '86 and are now paying near on three grand a month mortgage - and way past retirement age??????

What the hell have they spent the money on?

Quite amazing.

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Ok I'll bring it back to boomers, members of my family who benefited from the great council housing giveaway in their late 20's, ended up selling it and moving into a detached 3 bedroom place about 15 years ago, very nice indeed, convinced everyone they had oodles of money.

Moved to New Zealand two years ago, just sold their place, and made a loss due to the staggering amount of MEW they indulged in to fund their "considerably richer than yow" lifestyle

Don't have a pot to piss in now, can only rent, and are just a couple of years from retirement

Edited by pete.hpc

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The article says that the hotel is losing money, which I suppose might explain where the money has gone.

What I can't understand is why the owners are so keen to keep the business if it is losing them money?

It's like a drowning man asking for someone to throw him an anvil.

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How you get from that story to 'MEW addiction by boomers' is utterly beyond me.

First-class hpc.co.uk demagoguery.

Please try to keep a perspective.

Otherwise you just come over as a monomaniac.

Edited by zilly

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The article says that the hotel is losing money, which I suppose might explain where the money has gone.

Was this the hotel (in)famous for imposing an arrogant 'holier than thou' attitude on its customers?

Great business model.

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Otherwise you just come over as a monomaniac.

Monomania is the only thing that interests me! :blink:

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I wish my mind was broad enough to become a monomaniac.

Think inside the box! ;)

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The article says the hotel is loss making and it is clear that they have been MEWing to fund those losses for some time :ph34r: . Anybody with any sense should have seen that the business model was severely flawed and they probably should have closed down years ago.

They may not technically be Boomers but guess which generation is going to have to carry the can for their irresponsability and pay for their housing benefit and pensions for the next however many years :angry:

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They may not technically be Boomers

I stand corrected.

but guess which generation is going to have to carry the can for their irresponsability and pay for their housing benefit and pensions for the next however many years :angry:

Quite

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I know a boomer at work who pays over £2k a month in mortgage payments. He thinks that after 3 years of developing a bungalow in Sandown Isle of Wight, that he will be able to sell it for a vast profit and run.

I suggested that selling a bunglow in one of the roughest towns on the Island for more than peak price wouldn't happen.

Hence the reason he never speaks of houses and money in the same sentence to me anymore.

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This has nothing whatsoever to do with Mewing or indeed, Baby Boomers.

Jargon and journalese, sprinkled with more than a soupcon of Sun style headline crap.

Unfortunately, there have been many in the past three property Boom-Busts who have foolishly deluded themselves into believing they are business people.

They buy a rest home, B & B whatever, or an old large drum suitable for such use: and then go ape sh1t spending far too much capital turning it into a sort of Savoy clone: as if it were their home and they were trying to outdo friends and neighbours in the make-over stakes.

We've seen so many in France. Sold their UK house at the top of the market: dashed off to la belle France with zero research; bought a derelict old farmhouse and spent their whole capital renovating, ripping up wonderful old tiled floors and having new jazzy tiles installed.

Bathrooms from Vogue: the whole bit. They lose the plot and try to recreate Surbiton in rural France!

:lol:

And then finally, when they are on their uppers they open their Chambre d'Hote (B&B ), convinced they will be heaving with guests ten months of the year.

Neatly ignoring how many other Brits have done the same thing nearby.

Same as "Property Developers": who if they do actually make a profit, neatly ignore the core reality that it was the market rising dramatically; not their innate and wondrous business skills!

Earning profits from Hotels, Restaurants, Guest Houses takes serious and significant planning and a very hard-nosed commercial mind.

Not for dilettantes.

Edited by Prescience

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Snip.

Not for dilettantes.

I wouldn't touch it, not an easy business to undertake unless you have a known and reliable customer base......many an anonymous Christmas card are from previous places have stayed and forgotten never to present my presence again. ;)

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Don't have a pot to piss in now, can only rent, and are just a couple of years from retirement

So it's the great convergence between boomers and youngsters,

1. No money

2. Renting

3. No retirement provisions

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