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winkie

Tale Of Two Sisters & One Brother

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Sister No 1

Leaves school aged 16 secures position in blue chip co, before receiving results of 4 o level's & 2 cse's. Starts as office junior inc making the tea. Potential noticed and works way up in co, taking advantage of day release, and other training provided by company. Now part of management team, with a final salary pension thrown in.

Sister No 2

Stays on at school, takes A levels and goes on to university. Passes with 2:1 degree in English/Creative design. All fees and living grant paid for, goes on to help at Camp America, and enjoys the whole experience. Meets future husband. ( Never needed to use qualifications in regard to employment ).

Brother

Not academically minded, but very practical. Leaves school without qualifications, starts an a apprenticeship with a local plumber. Now self employed and earning a very good income.

All three now own their own homes and have their own families.

- 25 years ago hardly anyone had a credit card, and you didn't leave uni with large debts.

- HP or Hire Purchase aptly called ' on the never never' was frowned apon.

- Not so many went to university, some went to local technical college,(now called a university) most left school at 16 or stayed on to the 6th form.

- Income multiples for mortgages were VERY strict max 2.5 income and larger deposits required. Helped keep house prices stable IMO.

- Jobs seemed to be more for life ( not just for christmas).

What prospects do the children of these siblings have?

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"What prospects do the children of these siblings have?"

Here's what we have in store for them...DEBT

From: Credit Cards, Mortgages, Student Loans, Stealth Taxes like motor vehicles violations, more taxes.. It doesn't matter where the debt originates from, as long as they have plenty of it.

In effect our kids become slaves to their debt.

Sad...very sad, and parents are pushing their offspring into it. Even sadder.

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- Income multiples for mortgages were VERY strict max 2.5 income and larger deposits required. Helped keep house prices stable IMO.

This is a very important point. People should not be able to outbid each other by taking on ever more ridiculous amounts of mortgage debt, which is exactly what has happened.

Regulation of mortgage lenders (plus a bit looser planning law) would solve the house price inflation problem.

frugalista

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"What prospects do the children of these siblings have?"

Here's what we have in store for them...DEBT

From: Credit Cards, Mortgages, Student Loans, Stealth Taxes like motor vehicles violations, more taxes.. It doesn't matter where the debt originates from, as long as they have plenty of it.

In effect our kids become slaves to their debt.

Not just their debt, also slaves to their parents unrealistic expectations regards pensions, not forgetting all the national debt of all those before them, and all the unfunded public pension liabilities. Hyper-inflation will be the only way out.

House price inflation is nothing more than the older generation cashing out at the expense of younger people, it's a huge intergenerational transfer of wealth that makes inheritance tax look laughable and quaintly old fashioned in comparison, wealth is now transfered up and spent. 25 years ago the current generation of tax payers dipped into their pockets to fund university grants in the hope it would help the future of the country.

Now children are simultaneously vilified yet expected to pay for the health and pension liabilites of hoards of 55 year old early retirees, whilst propping up their BTL and banking stocks in the process. It goes without saying that their education and living costs are also entirely at their own expense. No doubt in the future the costs of being born will be bundled into a self-amortizing loan for them to deal in 18 years time.

This is the sort of selfish feudalism that is actually disappearing in the third world.

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If they're still living in the UK a very worrying immediate future.

I emigrated to Western Australia last August, because I could see nothing but a bleak, directionless existance for myself and my kids. There is TOO MUCH wrong with the UK now.

1. It is massively overcrowded. The quality of life for the majority is utter shit, although I'm sure the majority don't realise it and if they do, they don't know what to do about it apart from moan!

2. If you live in a terrace street anywhere in the UK it is virtually impossible to park a car. So what will it be like in another ten years? It's also virtually impossible for two cars to pass each other on a terraced street if cars are parked on either side of the road because of the length of wingmirrors! The average mirror measures around 9 inches, times this by six (two cars passing, plus car parked on either side of road) and that's 54 inches - a massive 4 1/2 foot of road space! Why can't car manufacturers create a mirror that's integral to the body?

3. As above, traffic even in minor towns is a nightmare! I've recently been to Melbourne, the second busiest city in Oz and there was less traffic on a Saturday afternoon than there would be in Northampton on a Monday morning!

4. The whole country has been taken over by Chav/Nobhead/Thicko/Clone ... culture? It's now cool to be thick, talentless, unoriginal, greedy, sexist, dull ... ad nauseum! Just look at the role models in the media! ...Jesus!

5. The TV is utter garbage! And the BBC want to increase the licence fee? The TV is rubbish in Australia but at least nobody charges for it!

6. What happens to the kids who are 18-19 now and are off to UNi for the next three years?

Well, if house prices remain stupidly overpriced and they leave with an average debt of around 18k, the vast majority will never, never, never own a house! They will live a life of debt and misery in a country that has completely betrayed and lied to them! They will grow into a very angry, resentfull generation of adults with no future ...literally nothing to look forward to ...how will they ever be able to have families?

The student loan sytem is an utter disgrace! I and many of my mates have degrees, but we don't earn much more than the average wage. However, I have friends in the UK who are scaffolders, Plasterers and carpenters, all of whom earn at least double my salary and they don't have student loans to repay, and the graduate is supposed to be the higher earner?....utter shit!

I'm sorry, I could continue writing this list for a lot longer but the sentiment will be the same.

I am angry that I've had to move to the other side of the world away from my family and friends because I feel the UK has become 'unliveable' for my kids generation. By the way, it was actually cheaper to move to Australia than it would have been to have moved up from a three bedroomed terrace to a three bedroomed semi in Northampton ....How mad is that?

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4. The whole country has been taken over by Chav/Nobhead/Thicko/Clone ... culture? It's now cool to be thick, talentless, unoriginal, greedy, sexist, dull ... ad nauseum! Just look at the role models in the media! ...Jesus!

Wow! So the media have taken Jesus as a role model? That's terrible!

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"What prospects do the children of these siblings have?"

Here's what we have in store for them...DEBT

I'm looking at re-training and going back to study.

When I started my first degree (1995) I got £1500 a year grant.

Now I'm looking at tuition fees of £3000 a year.

10 years later and I'll be £18K worse off studying for a 4 year course

That is a massive change....

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Trevor Werewolf, spot on post. We have a real problem and 'the i'm alright jack' attitude prevails. You may hear politicians talking about trying to address these fundamental issues, however, the reality is people only really care about themselves, perhaps immediate family, to a lesser extent friends and everyone else doesn't feature on the radar once the front door is closed. We are a selfish society and i'll be b***gered if i am going to support this insane system. There is no doubt in my mind the property haves & have nots is the biggest problem by far, which is ridiculous in the extreme.

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  • 301 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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