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Time For Boomers To Step Aside

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Sure some hpc posters will approve of this sentiment by the Bishop of London.

The Bishop of London, the Rt Rev Richard Chartres, certainly thinks so. At 65, a baby boomer himself, the bishop this week raised the question of “intergenerational equity”, saying that our “fortunate generation” who have enjoyed dramatic improvements in living standards are today “absorbing” more than our fair share of taxpayers’ money.

http://www.telegraph.co.uk/news/religion/10116001/Its-time-we-baby-boomers-stepped-aside.html

We do seem to have a record number of young unemployed and a record number of over 65's in work. Doesn't seem that sustainable to me.

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Sure some hpc posters will approve of this sentiment by the Bishop of London.

http://www.telegraph.co.uk/news/religion/10116001/Its-time-we-baby-boomers-stepped-aside.html

We do seem to have a record number of young unemployed and a record number of over 65's in work. Doesn't seem that sustainable to me.

allelujah

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Boomer's are currently developing a geriatric focussed zombie virus.

The stated goal with this project is to ensure that their lifeless corpses continue to shuffle about town centres and post-Victorian 3 bedroom homes into eternity*.

Upon successful implantation of the virus amongst the grey haired community, sales of all shotguns, machete's, and banjos are to be restricted.

* or until all equity has been withdrawn, whatever comes first.

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The law was changed so that we can keep working.

Yeah right .

You lucky people :lol:

Remember all those protest marches with the "work work work longer" chants and placards.

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The ongoing row about the absence of older women on TV, which has enveloped everybody from Selina Scott and Joan Bakewell to Anne Robinson and David Dimbleby, is yet another baby boomer cri de coeur.

It was and maybe still is a feminist issue but it seems to be twisting things a bit to suddenly in 2013 to turn things around to say that a feminist issue was a boomer issue - as if boomerism is/was some form of political movement. Maybe it actually was a political movement (unusually for a political movement in that knowledge of its existence must have been kept to a select few?) but if it was it was certainly well hidden from view and didn't get any publicity at all until just the last few years.

At least he got his photo in the papers.

Edited by billybong

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Sure some hpc posters will approve of this sentiment by the Bishop of London.

http://www.telegraph.co.uk/news/religion/10116001/Its-time-we-baby-boomers-stepped-aside.html

We do seem to have a record number of young unemployed and a record number of over 65's in work. Doesn't seem that sustainable to me.

Turkeys don't vote for Xmas, the young don't vote at all. Forget about it :(

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It was and maybe still is a feminist issue but it seems to be twisting things a bit to suddenly in 2013 to turn things around to say that a feminist issue was a boomer issue - as if boomerism is/was some form of political movement. Maybe it actually was a political movement (unusually for a political movement in that knowledge of its existence must have been kept to a select few?) but if it was it was certainly well hidden from view and didn't get any publicity at all until just the last few years.

At least he got his photo in the papers.

feminism movement was about EQUAL rights nothing to do with when you were born.

boomer-bashing is getting out of hand - if it was any other group being bashed - everyone would be up in arms.

it encompasses a generation - not a privileged group who have somehow engineered their own supposedly good fortune. It is akin to saying all young people are yobs who don't want to work.

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Turkeys don't vote for Xmas, the young don't vote at all.

Why should the young vote when politicians aren't offering them anything? Which party has a serious plan to help under 40s get decent housing at a reasonable price? If the young started turning out for the established parties with their current set of policies, what would be the incentive for them to change their policies?

Well, at least the Lib Dems promised to vote against a rise in tuition fees last time round. I expect that taught a few young people a lesson about the value of their votes.

clegg-tuition-fees-pledge.jpg

Edited by Dorkins

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feminism movement was about EQUAL rights nothing to do with when you were born.

boomer-bashing is getting out of hand - if it was any other group being bashed - everyone would be up in arms.

it encompasses a generation - not a privileged group who have somehow engineered their own supposedly good fortune. It is akin to saying all young people are yobs who don't want to work.

I agree....the previous generation to the 'boomers' for want of another word, were those that fought in two world wars, those who had few privileges and luxuries, few rights, few possessions, little access to what was really happening in the world past the bbc radio interests broadcasts.......the young then did not criticise and despise the old they respected them.....the only reason why some young people are resentful is because they are seeing their quality of life deteriorating instead of improving like it had done in the past....we have now reached a saturation point...too many people in the world all wanting the same thing, to be better and richer than those that have gone before......but money can't buy that. ;)

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Sure some hpc posters will approve of this sentiment by the Bishop of London.

http://www.telegraph.co.uk/news/religion/10116001/Its-time-we-baby-boomers-stepped-aside.html

We do seem to have a record number of young unemployed and a record number of over 65's in work. Doesn't seem that sustainable to me.

I agree. If I were a working boomer in the UK I would be angry that my taxes were used to subsidise rents for Thatchers children and hard working families.

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I agree....the previous generation to the 'boomers' for want of another word, were those that fought in two world wars, those who had few privileges and luxuries, few rights, few possessions, little access to what was really happening in the world past the bbc radio interests broadcasts.......the young then did not criticise and despise the old they respected them.....the only reason why some young people are resentful is because they are seeing their quality of life deteriorating instead of improving like it had done in the past....we have now reached a saturation point...too many people in the world all wanting the same thing, to be better and richer than those that have gone before......but money can't buy that. ;)

Not many people born between 1915 and 1945 fought in 2 world wars and most fought in none. They also had the benefit of cheap houses after ww2 and pensions at 60/65 along with living at a time when 'you never had it so good' and where where there was virtually zero unemployment. Your analysis is simply wrong.

Edited by campervanman

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Not many people born between 1915 and 1945 fought in 2 world wars and most fought in none. They also had the benefit of cheap houses after ww2 and pensions at 60/65 along with living at a time when 'you never had it so good' and where where there was virtually zero unemployment. Your analysis is simply wrong.

Whether they fought in one or two is immaterial....they lived in depressed and fearful times.....after the second world war in the 30s thousands of homes were built, towns and cities were rebuilt....then afterwards new towns were built and jobs created, the infrastructure was improved, labour saving devices came onto the market like washing machines, vacuum cleaners, more cars sold, the roads were improved the M1 and M25 built....we were generating growth and prosperity...now we find ourselves in times when we are reliant on coffee bars, financial services, legal aid, tourists and cheap labour and have sold much of what we did own to others who are now reaping the rewards of our once hard labour. ;)

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Why should the young vote when politicians aren't offering them anything? Which party has a serious plan to help under 40s get decent housing at a reasonable price? If the young started turning out for the established parties with their current set of policies, what would be the incentive for them to change their policies?

Well, at least the Lib Dems promised to vote against a rise in tuition fees last time round. I expect that taught a few young people a lesson about the value of their votes.

clegg-tuition-fees-pledge.jpg

Indeed, so forget about it. Unless you get out in the streets. Turkish Spring anyone?

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huh? I'm confused, which war, which century?

..... it would be the second world war 1939- 1945 the last century......~70 years ago, a lot can happen in less than a lifetime. ;)

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A little bit of an anecdotal:

'Boomers' in my village fancy downsizing to recentlly converteted bungalow in same village.

Guy who renovated bungalow is a builder but has been basically hounded out of the village and made to feel so unwelcome him and his family don't want to stay, (because he dared convert said bungalow to a house).

Boomers paid roughly £70k for their house in late 70s early 80s now want £800k for it.

They have offered the builder guy £600k which he has accepted once they sell.

He paid £240k 2 yrs ago, he's done loads of work, the place looks great and fair play to him.

But just mental.

Everyone frothing at the mouth in the pub earlier about how much their houses must be worth if 'the converted bungalow is now worth £600k'.......

I just despair.......

BF

Edited by BLOW FLY

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A little bit of an anecdotal:

'Boomers' in my village fancy downsizing to recentlly converteted bungalow in same village.

Guy who renovated bungalow is a builder but has been basically hounded out of the village and made to feel so unwelcome him and his family don't want to stay, (because he dared convert said bungalow to a house).

Boomers paid roughly £70k for their house in late 70s early 80s now want £800k for it.

They have offered the builder guy £600k which he has accepted once they sell.

He paid £240k 2 yrs ago, he's done loads of work, the place looks great and fair play to him.

But just mental.

Everyone frothing at the mouth in the pub earlier about how much their houses must be worth if 'the converted bungalow is now worth £600k'.......

I just despair.......

BF

So who do you think will be buying it for £800k?....they can't sell it they can't buy it......£800k can buy someone a great lifestyle for many many years.

If they can only get £600k for it I can assure you they won't be offering £600k for the smart refurbished downsized bungalow. ;)

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I agree. If I were a working boomer in the UK I would be angry that my taxes were used to subsidise rents for Thatchers children and hard working families.

But you would be happy that your taxes are used to pay for thousands of planning bureaucrats to restrict the supply of housing for the increasing numbers of young hard working families, such that they are forced into fierce competition against each other to bid up the value of your asset to insane levels, and the government steps in with taxpayers money to prevent mass destitution. And also happy that large amounts of taxpayers money was spent keeping property prices inflated by propping up insolvent banks and cooking up various wheezes to keep the bubble going.

Conflicting emotions... bit of a conundrum really. I expect most will realise the gains they made (and continue to make) greatly outweigh the relatively trivial amount of taxes that go to support such a system. In fact it's a damn good investment. Perhaps some economist will be along shortly to clarify about rational expectations and outcomes etc.

Recent quote: "Will Hutton of the Work Foundation and a “baby boomer” himself has said: “Having enjoyed a life of free love, free school meals, free universities, defined benefit pensions, mainly full employment and a 40-year-long housing boom, [the baby boomers] are bequeathing their children sky-high house prices, debts and shrivelled pensions. A 60-year-old today is a very privileged and lucky human being.”"

Indeed - it would be nice if some of those who were so lucky were gracious enough to acknowledge it from time to time. But then they wouldn't be (angry) boomers, would they?

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So who do you think will be buying it for £800k?....they can't sell it they can't buy it......£800k can buy someone a great lifestyle for many many years.

If they can only get £600k for it I can assure you they won't be offering £600k for the smart refurbished downsized bungalow. ;)

This highlights that a lot of activity in the market is people with large amounts of notional equity swapping nice houses with each other. The word Ponzi comes to mind.

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Sure some hpc posters will approve of this sentiment by the Bishop of London.

http://www.telegraph.co.uk/news/religion/10116001/Its-time-we-baby-boomers-stepped-aside.html

We do seem to have a record number of young unemployed and a record number of over 65's in work. Doesn't seem that sustainable to me.

Presumably the good archbishop will be setting an example by resigning immediately, selling all his worldly goods and giving the proceeds to the poor.

Maybe Luke 12:33 does not apply in the C of E

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It was and maybe still is a feminist issue but it seems to be twisting things a bit to suddenly in 2013 to turn things around to say that a feminist issue was a boomer issue - as if boomerism is/was some form of political movement. Maybe it actually was a political movement (unusually for a political movement in that knowledge of its existence must have been kept to a select few?) but if it was it was certainly well hidden from view and didn't get any publicity at all until just the last few years.

At least he got his photo in the papers.

What winds me up, is when a woman who had no discernible talent other than being young and tasty looking moans "it's not fair!" when she's booted off the tele for getting old and fat. The very prejudice she complains of is what got her on the tele in the first place, ahead of more talented women of true ability who in a fair system would have got the job ahead of her. The lack of self awareness is jaw dropping.

Edited by SpectrumFX

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This highlights that a lot of activity in the market is people with large amounts of notional equity swapping nice houses with each other. The word Ponzi comes to mind.

indeed - no-one is making money out of selling the overpriced house when they have to pay for another overpriced house to live in. This applies whether you are a young hardworking family or an over 65 year old. The only ones who benefit are the inheritors of an overpriced house or the BTL brigade who own several overpriced houses.

there was a bit of a puff piece on the BBC news last night which amounted to bashing the oldies because they had seen their incomes rise more than working people - cut to scenes of 'boomers in the gym' saying how 'comfortable they were' to contrast with a single working person who did two jobs. completely biased of course and at the end there was a throwaway line that of course the working person has HIGH HOUSING COSTS - which if the crux of the matter - not that the state pension (£107) per week has risen in line with inflation.

and will they please stop focussing on the winter fuel allowance as such a mega-benefit - it is less than £4 per week PER HOUSEHOLD <_<

Edited by olliegog

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This highlights that a lot of activity in the market is people with large amounts of notional equity swapping nice houses with each other. The word Ponzi comes to mind.

....Ponzi it is, because if you only own one home the one you live in if you are up sizing something many people with growing families and rising expenses are doing you lose out when prices are rising, when lending and wages are not.

The downsizers may have made some but not as much as people make out they have, often there is still debt attached to the property taken on by previous up sizing and or borrowing against the equity, also there are few places now to store cash to use for future spending that will keep up with the growing inflation of non discretionary spending.

BTLers have not done FTBers any favours by buying up the property that the FTBers would normally have purchased in the past.....it was not that long ago in the past when BTL was unheard of and the mortgages to buy them did not exist.

Lets see when these 'long-term investments' the BTL investments that people bought for both income and growth starts losing their appeal, when the growth is non existent or falling, cost increasing and yields falling.....see how long-term it will last then........once these types of property starts to be offloaded back onto the market by those that are not financially secure enough to handle the losses.....the housing market can start to move again, that must be a good thing for all concerned about buying a place they can afford to buy with the income they earn. ;)

Edited by winkie

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The downsizers may have made some but not as much as people make out they have,

As far as I can see there isn't any money to be made out of down sizing. You have to move from a nice area to a hell hole to release capital.

A three bed house locally is about £200,000 a two bed bungalow is about £170,000.

By the time you factor in moving cost is it worth it?

Have a look your selves at the cost of places you would consider down sizing to when you retire.

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As far as I can see there isn't any money to be made out of down sizing. You have to move from a nice area to a hell hole to release capital.

A three bed house locally is about £200,000 a two bed bungalow is about £170,000.

By the time you factor in moving cost is it worth it?

Have a look your selves at the cost of places you would consider down sizing to when you retire.

....you wouldn't have to downsize you could move sideways and move from a poky, high density, smoggy place to more open, fresher, spacious place......downsizing upwards. ;)

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  • 245 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
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      • up 5%



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