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thecrashingisles

Fight Back Youngsters. Gran Is Mugging You

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Or they could let a few god damn bankers reap what they have sown.

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One of the comments under that story-

"I was 'fortunate' enough to buy, with my husband, our first , tiny, terrace house at age 24. Our deposit of 600 pounds [equivalent to seven months' salary] was slogged for by NEVER buying new clothes, NEVER going out, doing without a telephone and car as those would have made it utterly impossible to save, managing with one gas fire so that heating bills didn't hinder out efforts to save. I could go on, but am too furious to continue coherently. My pampered children-I slogged so they wouldn't have to 'suffer' materially in the way I did - expect to buy numerous/clothes/meals out/huge T.Vs/expensive mobile phones/exotic holidays, etc., etc. Once these necessities have been procured they bemoan the fact that it is impossible to save for a deposit! This is all obviously my fault and the decent thing would be for me to bestow yet more largesse upon them so the pecunious darlings can buy a house and, of course, it is also only fair that said house should be furnished throughout with the coolest furniture. Yes , we baby boomers, have got the younger generation into the mess they now find themselves, but not by our good fortune/greed/selfishness and longevity- but because we mistakenly thought , by giving them both material possessions and unqualified adoration, we were acting in their best interests. They now believe the world owes them the proverbial living and government love finding someone to blame -perfect! The social divisiveness of such apportioning of blame by setting one generation against another is also terrifying."

Some of them STILL believe they had it harder, amazing!

Terrace house at the age of 24 with a deposit of 7 months salary, as if that's a hardship. Such ignorance astounds me.

So what's 7 months average salary now, 13k? If that was 10% of the value of the house that's still less than half the average house price today. Of course the details that count are missing, the location, the house price versus salary. She implies buying at 24 is leaving it late as well !

I know this sort of ignorance is to be expected but this persons writing style at least demonstrates they are capable of SOME thought of some kind, which makes it a little more depressing.

The other comments under that article are not too dissimilar, sadly, which tells you a lot about the demographic of the times. Entitled ignorant boomers.

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Yup, the £4k per year my missus and I spend running our £1,500 cars is definitely the reason that £200k houses are tricky to reach. If my wife would only walk the 20 miles to work each way instead of driving she could have a 20% deposit saved up in only 10 years. What's she like, eh?!

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Yup, the £4k per year my missus and I spend running our £1,500 cars is definitely the reason that £200k houses are tricky to reach. If my wife would only walk the 20 miles to work each way instead of driving she could have a 20% deposit saved up in only 10 years. What's she like, eh?!

Mother in law was questioning why we didn't just buy a bigger house rather than adding an extension earlier.

I pointed out that a bigger house would cost about £120k more than our house is worth and that I didn't think it was good value.

She then asked why we hadn't thought of buying a bigger house earlier in life, we should have just got a bigger mortgage and prices always go up (by the way we live in a perfectly adequate 3 bedroom house mortgage free).

She genuinely did not seem to understand that even though she managed to afford a large detached home on just her husbands salary (never a higher rate tax payer) that it was impossible for our generation to do so.

Then had my mum saying she was fed up of pensioners being blamed and that they were suffering to as their £200k in savings were getting terrible interest rates. "What are we supposed to live off?" I said surely the 2x final salary pensions plus 2 x state pensions were adequate!

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I've read this forum regularly for a few years. I thought I read that high house prices were the result of

1.government lack of regulation of the banks and a deliberate policy of helping the feckless take on more debt

2.Reduction of interest rates which allowed the feckless and over indebted to stay on in houses they could not afford

3.The banks for massive credit expansion and lending to anything that had a pulse.

4.The government for their policies of keeping "hard working families" from repossession through SMI and other policies

and all the time it was granny's fault. I must dig her up and tell her.

Well you could say the deregulating politicians and bankers that pumped up the credit bubble were boomers, they did it for boomer votes too, thats why they're propping up the bubble now, because they know the boomers will annihilate them at the next election.

I Blame the boomer/vote buying policies in the main but it does get annoying when the boomers pretend there is no bubble nor are there vote buying policies and props and they are only reaping the efforts of their superhuman scrimping and saving over the years. oh and that favourite line of theirs if only we stopped buying ipads or owning cars or going on holiday we could of joined them.

7months saving? if only down here.

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I've read this forum regularly for a few years. I thought I read that high house prices were the result of

1.government lack of regulation of the banks and a deliberate policy of helping the feckless take on more debt

2.Reduction of interest rates which allowed the feckless and over indebted to stay on in houses they could not afford

3.The banks for massive credit expansion and lending to anything that had a pulse.

4.The government for their policies of keeping "hard working families" from repossession through SMI and other policies

and all the time it was granny's fault. I must dig her up and tell her.

Quite.

If the government was serious about making housing affordable it would not be pissing away money propping up the property Ponzi via the FLS rather than blaming it on the old and infirm

In some ways its nice that establishment media whores such as Parris are now locked up in the perfumed garden behind that paywall so I don't have to read them any more

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Well you could say the deregulating politicians and bankers that pumped up the credit bubble were boomers, they did it for boomer votes too, thats why they're propping up the bubble now, because they know the boomers will annihilate them at the next election.

I Blame the boomer/vote buying policies in the main but it does get annoying when the boomers pretend there is no bubble nor are there vote buying policies and props and they are only reaping the efforts of their superhuman scrimping and saving over the years. oh and that favourite line of theirs if only we stopped buying ipads or owning cars or going on holiday we could of joined them.

7months saving? if only down here.

Well that might all be true but many old people (ie those over 65) in the UK are not boomers. They are from earlier generations.

BTW Parris wiki entry states

He owns homes in Spain, Derbyshire, and the Docklands of east London

http://en.wikipedia.org/wiki/Matthew_Parris

No further comment needed really.

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Mother in law was questioning why we didn't just buy a bigger house rather than adding an extension earlier.

I pointed out that a bigger house would cost about £120k more than our house is worth and that I didn't think it was good value.

She then asked why we hadn't thought of buying a bigger house earlier in life, we should have just got a bigger mortgage and prices always go up (by the way we live in a perfectly adequate 3 bedroom house mortgage free).

She genuinely did not seem to understand that even though she managed to afford a large detached home on just her husbands salary (never a higher rate tax payer) that it was impossible for our generation to do so.

Then had my mum saying she was fed up of pensioners being blamed and that they were suffering to as their £200k in savings were getting terrible interest rates. "What are we supposed to live off?" I said surely the 2x final salary pensions plus 2 x state pensions were adequate!

Of my parents and inlaws, only 1 is a real property bull, but that's just a result of experience rather than considered opinion, plus a penchant for truly mince vi newspapers. The others take little notice or are bearish, perhaps because they considered moving house a few years ago but baulked at the costs of doing so, well into 5 figures. Who can blame them either?

They definitely all find the idea of a family that rents a bit odd though, as if it's not the right way to do it. There have been comments along those lines, sort of that you don't belong unless you have bought a mortgage. Just a sign of their age imo.

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Then had my mum saying she was fed up of pensioners being blamed and that they were suffering to as their £200k in savings were getting terrible interest rates. "What are we supposed to live off?" I said surely the 2x final salary pensions plus 2 x state pensions were adequate!

:lol:

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They definitely all find the idea of a family that rents a bit odd though, as if it's not the right way to do it. There have been comments along those lines, sort of that you don't belong unless you have bought a mortgage. Just a sign of their age imo.

Bring it on.

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Yeah but these days 23/24 year olds all have graduate jobs with mega starting salaries. They don't know they're born!

Were they both working? I guess maybe only her husband was working since she says "seven months' salary" rather than "seven months of our combined salaries". I wonder how many 24 year old men are supporting a stay-at-home wife and also buying a house nowadays.

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Were they both working? I guess maybe only her husband was working since she says "seven months' salary" rather than "seven months of our combined salaries".

No, the difference people here seem to be missing is that this miserable old crone found it tough and gradually things got easier till she was rich beyond her wildest dreams. In lowyieldistan youngster will spend all thier working lives living the tough life at these price levels.

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I'm reading Mein Kampf at the moment. No, I'm not a nazi, I just like to know about things. Hitler wrote that a successful movement needs some one group of people to vilify and to blame for everything. No more than one, otherwise the scheme doesn't work.

So now we have the call, 'Hey, let's all blame the boomers. Right?' :blink:

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Bring it on.

Yeah, I've avoided taking the bait, and our tenancy means junior will be having at least one birthday in rented. I'm delighted about it, I think some feel sorry for us. Meh, no hassles to me, plenty of things to be thinking about without adding decoration of a nursery etc.

People I know with children:

1 bought ages ago (~2000), sorted.

1 bought ~2004, ok.

1bought ~2010, skint all the time(good job, modest gaff in the sticks)

1 bought, accidental ll, bought again recently. High earnings to thank for making it possible.

2 rent, decent jobs, priced out regardless, outgrowing rentals and looking to buy in both cases.

Us-, above average income, 1 earner, junior on way. Refuse to become dual-income dependent. Nice gaff, no sweat so far. Struggling to see much value in smarter areas. No way we'd buy in a crap place just to buy something. Above £150k is too much to pay for a 3bed, 200k 4 bed likewise. And the rest. Little availabe at those prices in places we'd live in any case. WDIK though.

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I've read this forum regularly for a few years. I thought I read that high house prices were the result of

1.government lack of regulation of the banks and a deliberate policy of helping the feckless take on more debt

2.Reduction of interest rates which allowed the feckless and over indebted to stay on in houses they could not afford

3.The banks for massive credit expansion and lending to anything that had a pulse.

4.The government for their policies of keeping "hard working families" from repossession through SMI and other policies

and all the time it was granny's fault. I must dig her up and tell her.

I must modify that - to make it more accurate..... : -

1.government lack of regulation of the banks and a deliberate policy of helping the feckless to commit MORTGAGE FRAUD, lie about their incomes & take on more debt by taking out LIAR LOANS

2.Reduction of interest rates which allowed the feckless and over indebted to stay on in houses they could not afford were it not for being urged by their mortgage brokers to LIE & take out LIAR LOANS

3.The banks for massive credit expansion MORTGAGE FRAUD and "lending" to anything that had a pulse.

4.The government for their policies of colluding, aiding & abetting in the Greatest Ponzi Scam & Fraud in all history, - i.e. MORTGAGE FRAUD/LIAR LOANS - thereby keeping "hard working families" from repossession through SMI and other policies

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I'm reading Mein Kampf at the moment. No, I'm not a nazi, I just like to know about things. Hitler wrote that a successful movement needs some one group of people to vilify and to blame for everything. No more than one, otherwise the scheme doesn't work.

So now we have the call, 'Hey, let's all blame the boomers. Right?' :blink:

Even better if you can come up with a term that has imprecise definitions, no meaningful parameters and is borrowed from another country.

http://blog.barrypearson.co.uk/?p=8

http://blog.barrypearson.co.uk/?p=3634

It is a strange post war 'baby boom' where the numbers born actually drop sharply after 1947 and don't match the figure in that year for over another decade

On edit - Having trawled through the ONS figures I find that more children were born in England and Wales in 1990 (706,140) than in 1950 (697,097) and that the birth figures for the five years from 1955-1959 (3,580,743) are almost identical to those for 2007-2011 (3,552,050). It would also appear that some 14% of those born in the immediate post war baby boom (1946-1950) are already dead (so presumably not claiming a pension or cluttering up the hospitals)

http://www.ons.gov.uk/ons/dcp171778_279934.pdf

As Pearson points out it is a bit odd to talk about a post war boomer 'generation' that appears to be of arbitrary definition, is so long that it incorporates not only those born immediately after the war but also some of their children born 20 year later and for some reason stops in 1965 even though nearly as many children were born in England and Wales between 1965-69 (4,161,522) as there were in 1960-64 (4,165,049) .Those at the tail end of that 1960s demographic bulge are a quarter of a century from state retirement by which time most of those born in 1946-47 will be under the earth.

In fact if you like to cut up the figures in an arbitrary way or compare dissimilar types of data then you can prove anything you want.

.

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It's pretty blatant how coordinated it's getting what with that clergyman joining in (although he did have the good grace to put forward a rather unconvincing case which suggested he wasn't too happy about having to be involved or having anything to do with encouraging divisions between people) and Parris and all - his case is hidden behind a paywall but how can anyone take it seriously with a headline about grans not being on the side of their grandchildren. Granted out of millions there'll likely be some but the vast majority, no.

They must be starting to get a bit anxious.

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Comparing apples to oranges. The affordability of homes is an order magnitude different, then to now. The human mind just finds it difficult to comprehend.

The size of the Earth is pretty big (especially if you are walking it), but then to imagine the size of the Universe, impossible.

Another angle, If a family of scorpions said to a frog, why you can't you just snap a twig in half with your hand, it's so easy (with all the other scorpion family members in nodding agreement) , the frog just can't fathom how to do it. The scorpion is just wasting his time, and the frog also in trying.

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  • 244 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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