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Generation Y Are In For A Nasty Shock

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http://www.citywire.co.uk/money/generation-y-are-in-for-a-nasty-shock/a490703?re=14157&ea=264635&utm_source=BulkEmail_Money_Daily&utm_medium=BulkEmail_Money_Daily&utm_campaign=BulkEmail_Money_Daily

(This is a story linked to by the HPC homepage)

A survey of 12000 Young people ('Young people' has not been defined, but the age range extends to 39, so we will have to assume a survey of 12000 under 40 year olds.)

The site says, average FTB is 31.

And average salary for a graduate in the age bracket 30-39 is £24333

Also average house price £170 000

3.5 times salary?

50% DROP!

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2.5 with inflation, liabilities and a totally uneconomic country wrecking earnings?

2afha90.jpg

From the blog.

Edited by OnlyMe

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The employment prospects of everyone in the UK whether now Employed or Unemployed are bleak, my research over the past 3 months comes to the conclusion that present Employers are well and truly taking the Michael. They see immigrants from the EU Countries as the way forward, minimum wage to them makes them very rich when sending money home. It also shows they are more likely to kiss their Employer`s ****. Sadly Generation X and Y will never see a financially secure retirement, the Salvation Army Soup Kitchens will in the future be unable to cope. :(

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The employment prospects of everyone in the UK whether now Employed or Unemployed are bleak, my research over the past 3 months comes to the conclusion that present Employers are well and truly taking the Michael. They see immigrants from the EU Countries as the way forward, minimum wage to them makes them very rich when sending money home. It also shows they are more likely to kiss their Employer`s ****. Sadly Generation X and Y will never see a financially secure retirement, the Salvation Army Soup Kitchens will in the future be unable to cope. :(

Chin up theres always X factor :D

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Chin up theres always X factor :D

I have no problem with my own present financially secure retirement as long as I am not reckless I can never unload my wealth on the day when I leave my mortal being. Those who protected me have long gone leaving great memories of my life during the 60s and 70s when it was hard to believe now how I achieved great financial success. :)

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£35k when they're 25? What a bunch of jokers! Who are these kids? My target was always that of £40k being a decent salary. £35k at age 25 is a bit much!

Easily achievable if you are smart, work hard and convince the right people.

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..for 8% of the workforce.

Tish and pish my good man. This is HPC where all and sundry earn 80K+ tax-free as IT consultants, whilst racking up thousands of posts on web fora and snacking on diet coke and snickers.

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So much for the kids expecting 60k by the time they hit 35. 24k as an average for 30-39 year old grads sounds about right. All jobs are useless these days as none of them actually pay enough to have a life......unless you're on 50k+ a year.

HPC end game should see an average house selling for around 90k IMO. Still a long way to go yet, but we'll get there.

Edited by Wait & See

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Just another point to ponder.

It is actually shocking that someone on £30k a year, after paying income tax, national insurance and a 6% pension only gets around £1,800 in their hand. Loose change these days.

£40k a year will give you around £2,400 a month after tax and pension. Again, pathetic, when you look around at the cost of living, (shelter) these days. :lol:

Edited by Wait & See

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Just another point to ponder.

It is actually shocking that someone on £30k a year, after paying income tax, national insurance and a 6% pension only gets around £1,800 in their hand. Loose change these days.

£40k a year will give you around £2,400 a month after tax and pension. Again, pathetic, when you look around at the cost of living, (shelter) these days. :lol:

Thank you. I still don't understand why people harp on and on about gross salary income in ratios to other things when net income is more accurate.

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Thank you. I still don't understand why people harp on and on about gross salary income in ratios to other things when net income is more accurate.

+ expenses, and other long term benefits. ;)

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The employment prospects of everyone in the UK whether now Employed or Unemployed are bleak, my research over the past 3 months comes to the conclusion that present Employers are well and truly taking the Michael. They see immigrants from the EU Countries as the way forward, minimum wage to them makes them very rich when sending money home. It also shows they are more likely to kiss their Employer`s ****. Sadly Generation X and Y will never see a financially secure retirement, the Salvation Army Soup Kitchens will in the future be unable to cope. :(

Don't worry - in Mexico and other totally exploited countries, the rich have to live behind barbed wire/high wall enclosed enclaves with armed guard double-gated entrances and guards with alsations patrolling at night.(sounds like their own rich 'concentration' camp - the irony)

They also have to remember to pack their guns with them on shopping trips and live in constant fear of being kidnapped for ransom.

Edited by erranta

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Thank you. I still don't understand why people harp on and on about gross salary income in ratios to other things when net income is more accurate.

It is laughable how poor 99% of the population actually are. They love their job titles and other rubbish like that, but cash wise IMO, anything under about 60-70k these days is chicken feed. It isn't enough to have the standard of lifestyle more people want and is why nearly everyone is up to their necks in debt.

The sooner people realise that a good job these days ain't something that pays £30-£40k, the better. :rolleyes:

Edited by Wait & See

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The sooner people realise that a good job these days ain't something that pays £30-£40k, the better. :rolleyes:

A lot of people are realising it especially the young, I heard this the other day:

"An 18K job? You must be well loaded."

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Oh yes, that £18k a year would just about cover a 200k mortgage over 30 years. You'd have no money left, at all, to pay the bills, eat and travel to work of course. :blink:

I weep at this counrty. Totally pathetic.

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Oh yes, that £18k a year would just about cover a 200k mortgage over 30 years. You'd have no money left, at all, to pay the bills, eat and travel to work of course. :blink:

I weep at this counrty. Totally pathetic.

It depends on needs and wants tbh, you don't NEED a 200K house. I'd note a lot of the younger folks are wising up, not the majority but a lot of them are. The younger people I know both skydivers bikers and accountants. They all have plans to leave the UK by the time they are 25. And have no intention of buying in the UK or picking up the tab of the people when they were not even born.

Ricky for instance graduated a chemical engineering degree was stuck in a min wage lab job with no prospects. He felt so frustrated that he went to ESL in Thailand and now is in Vietnam as a sex tourist.

He is trading his future for present comfort (as ESL is a short gig with no shortage of bodies to fill it which is a dead end career). Which a lot of people are calling him dumb for.... except if there is no future anyway you're probably getting the better end of the deal.

Myself I don't pay into a pension because I don't see the point, it gives me disposible income today and ability to enjoy it now rather than have it inflated away. I keep a core stash of course but I fully intend to self euthanise if I am in dire poverty.

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£35k when they're 25? What a bunch of jokers! Who are these kids? My target was always that of £40k being a decent salary. £35k at age 25 is a bit much!

il

Sorry, but £25k is nothing. It is not enough to live well off and is frankly less than Boris Johnson's chickenfeed. However, its the sort of pay employers like to get away with if they can. The sooner Gen Y realise this, the sooner they will demand higher pay an fix the economy. We need pay inflation and not just static pay whilst all other prices rise.

For the record, grads coul easily get a £25k starting job back in the mid 1990s, the fact this hasn't risen is actually really sad and pathetic.

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Just Gen Y ? I think it applies to most people in the UK under 40 - complete denialism about earning potential, house prices and just how crap things are for them.

Often talking to people you'd swear they were a millionaire by their arrogance levels, but in reality are still saving a deposit for their first house.

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It is laughable how poor 99% of the population actually are. They love their job titles and other rubbish like that, but cash wise IMO, anything under about 60-70k these days is chicken feed. It isn't enough to have the standard of lifestyle more people want and is why nearly everyone is up to their necks in debt.

The sooner people realise that a good job these days ain't something that pays £30-£40k, the better. :rolleyes:

Speak for yourself. Of course, I live oop north.

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It depends on needs and wants tbh, you don't NEED a 200K house. I'd note a lot of the younger folks are wising up, not the majority but a lot of them are. The younger people I know both skydivers bikers and accountants. They all have plans to leave the UK by the time they are 25. And have no intention of buying in the UK or picking up the tab of the people when they were not even born.

They're going to pick up the tab that the people in the other country ran up instead, then?

Just about every major 'Western' economy has been playing the game of expecting future generations to pick up the tab for present-day spending and future pension entitlements. That's what running continual deficits boils down to.

Until we see a balanced budget (not going to happen any time soon unless a market event forces it) then we are just expecting future generations to pay for it all with the debt pile growing ever larger. A true ponzi scheme.

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For the record, grads coul easily get a £25k starting job back in the mid 1990s, the fact this hasn't risen is actually really sad and pathetic.

Could they? What industry? In IT the starting salary for a grad in the mid 90s was more in the 15K range. Or do you mean grads with loads of experience in a sought after sector? In the mid-90s we were just recovering from a major recession following the Lawson boom. Still you could by a 2 bed house in the south east for 45K and a 2 bed flat within the circle line for 120K.

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Could they? What industry? In IT the starting salary for a grad in the mid 90s was more in the 15K range. Or do you mean grads with loads of experience in a sought after sector? In the mid-90s we were just recovering from a major recession following the Lawson boom. Still you could by a 2 bed house in the south east for 45K and a 2 bed flat within the circle line for 120K.

earnings no longer became the driver for asset prices.

Financialisation made obsolete the net income multiplier....till it hit back with a bang.

Now, the Status quo are desperate to keep the financialisation model in place....its costing us a fortune as the whole thing is a zombie ponzie.

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  • 312 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% +
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      • Even
      • up 2.5%
      • up 5%



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