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How The Young Are Reacting To Hpi

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Caught up with my 22 year old daughter and she tells me of a growing band of young, single 20 somethings earning between 20-25k. They've given up the idea of ever buying a house. They rent the cheapest places available, even share rooms, eat Pot Noodle and baked beans during the week and then splurge at the weekends - the finest restaurants, hotels, designer clothes, festivals. Who can blame them?

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Caught up with my 22 year old daughter and she tells me of a growing band of young, single 20 somethings earning between 20-25k. They've given up the idea of ever buying a house. They rent the cheapest places available, even share rooms, eat Pot Noodle and baked beans during the week and then splurge at the weekends - the finest restaurants, hotels, designer clothes, festivals. Who can blame them?

No change there then......why would they want to be tied to a house when there is no need to be.....anyway not being able to participate in the house buying bonanza now has probably done them a favour in more ways than one. ;)

Edited by winkie

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Caught up with my 22 year old daughter and she tells me of a growing band of young, single 20 somethings earning between 20-25k. They've given up the idea of ever buying a house. They rent the cheapest places available, even share rooms, eat Pot Noodle and baked beans during the week and then splurge at the weekends - the finest restaurants, hotels, designer clothes, festivals. Who can blame them?

Why? Because they are worth it? :lol: They need to get both sides of the equation if they want to hit back at the system that wants to farm them, DON`T buy an overpriced house, and DON`T try to act like Jay Z on 25K :lol:

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Caught up with my 22 year old daughter and she tells me of a growing band of young, single 20 somethings earning between 20-25k. They've given up the idea of ever buying a house. They rent the cheapest places available, even share rooms, eat Pot Noodle and baked beans during the week and then splurge at the weekends - the finest restaurants, hotels, designer clothes, festivals. Who can blame them?

I guess it's pretty normal to be spending all your money at 22 - OK long as it IS your own money and you're not racking up a load of cc debt. Just don't let her end up like daughter's friend and so many others - started out like this at 21 or 2 - now in mid 30s and wondering how she's ever going to pay off over £30K of debt. Still keeps spending, though, to 'cheer myself up'.

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Caught up with my 22 year old daughter and she tells me of a growing band of young, single 20 somethings earning between 20-25k. They've given up the idea of ever buying a house. They rent the cheapest places available, even share rooms, eat Pot Noodle and baked beans during the week and then splurge at the weekends - the finest restaurants, hotels, designer clothes, festivals. Who can blame them?

It would help explain the lack of radical activism on the issue.

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I guess it's pretty normal to be spending all your money at 22 - OK long as it IS your own money and you're not racking up a load of cc debt. Just don't let her end up like daughter's friend and so many others - started out like this at 21 or 2 - now in mid 30s and wondering how she's ever going to pay off over £30K of debt. Still keeps spending, though, to 'cheer myself up'.

Credit card debt is a no no, the more you spend on credit card debt the poorer you eventually get, everything you spend costs more than it would have been, making everything more expensive when it needn't be.....student debt is bad enough......The idea is to have a plan and try and stick with it, and when you get the opportunity to earn more is not to spend more.....buying a house does not have to come into the plan. ;)

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Caught up with my 22 year old daughter and she tells me of a growing band of young, single 20 somethings earning between 20-25k. They've given up the idea of ever buying a house. They rent the cheapest places available, even share rooms, eat Pot Noodle and baked beans during the week and then splurge at the weekends - the finest restaurants, hotels, designer clothes, festivals. Who can blame them?

Seems a pretty rational response to the housing shakedown, I just hope by the time they are seeking to get a bit more space that the situation is different.

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Credit card debt is a no no, the more you spend on credit card debt the poorer you eventually get, everything you spend costs more than it would have been, making everything more expensive when it needn't be.....

The bigger picture:

A commercially issued, debt-based money supply is a no-no, the more money you spend into existence the poorer you eventually get, everything you buy costs more than it would have been, making everything more expensive when it needn't be …

The movers and shakers at positivemoney are in their twenties and they know what the problem is and what needs to be done about it.

http://www.positivemoney.org/

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Seems a pretty rational response to the housing shakedown, I just hope by the time they are seeking to get a bit more space that the situation is different.

I'd did hear on the radio this morning that 'A' level Spanish is on the up and up. Lot of space in Spain.

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If they're anything like I was (and friends) when we were in our early 20's we didn't really look very long and hard at buying a house at all - in fact it was so low down the priority list the brand of loo roll was more important.

I'd be surprised if it was a rational decision of "I can't afford a house therefore I'm going to spunk all my cash living it up on the weekend". Partying on the weekend has ever been the goal of the young...vast majority of us probably did exactly the same thing if we're being honest....

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I'd did hear on the radio this morning that 'A' level Spanish is on the up and up. Lot of space in Spain.

Even the Dutch are joining in the common sense party. I think germnay might have seen the error of their ways, if not yet they will once their own housing bubble starts to eat into the core of its competitive advantages (mainly skills based and exisitng capacity of functional companies working in a productive environment). With a bit of luck we'll see a split in central bank operations, no longer following the FED into fools paradise and misallocation. THey might be quite bitter abut being handed the shitty end of the stick just when the dollar was under pressure - so handy for the US to point over to europe and use the credit agenices to clobber the euro at an important time.

Europe will go through a good degree of real growth as it sheds off the excesses of debt policy. Might be a very attractive place for lots of UK young. Affordable, beter paid jobs based on better companies with better prospects.

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Even the Dutch are joining in the common sense party. I think germnay might have seen the error of their ways, if not yet they will once their own housing bubble starts to eat into the core of its competitive advantages (mainly skills based and exisitng capacity of functional companies working in a productive environment). With a bit of luck we'll see a split in central bank operations, no longer following the FED into fools paradise and misallocation. THey might be quite bitter abut being handed the shitty end of the stick just when the dollar was under pressure - so handy for the US to point over to europe and use the credit agenices to clobber the euro at an important time.

Europe will go through a good degree of real growth as it sheds off the excesses of debt policy. Might be a very attractive place for lots of UK young. Affordable, beter paid jobs based on better companies with better prospects.

perhaps Sonneberg in Thuringia? Empty houses in what looks like a nice mittleeuropa town

http://www.nytimes.com/2013/08/14/world/europe/germany-fights-population-drop.html?hp&_r=1&

also Mark Steyn

http://www.nationalreview.com/corner/355759/lebensraum-mark-steyn

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I'd did hear on the radio this morning that 'A' level Spanish is on the up and up. Lot of space in Spain.

France likewise (although the A-level take up was sharply down).

Seems like for many, a flit abroad will be just the ticket rather than waiting for the UK to sort its housing issues.

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They rent the cheapest places available, even share rooms, eat Pot Noodle and baked beans during the week and then splurge at the weekends - the finest restaurants, hotels, designer clothes, festivals. Who can blame them?

Its a rational response which happens to match what they'd like to do anyway, the best of both worlds.

Those older are going to have a long wait expecting this lot to buy their house for their crazy asking price and pick up the tab for their retirement for them. No wonder they chastise the young for not scrimping and saving, they're waiting for their bailout and the little rascals don't appear to be playing ball.

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http://youtu.be/xMG2oNqBy-Y


Why? Because they are worth it? :lol: They need to get both sides of the equation if they want to hit back at the system that wants to farm them, DON`T buy an overpriced house, and DON`T try to act like Jay Z on 25K :lol:

Cool video, huh?

Check yourself before you wreck yourself.

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I'd did hear on the radio this morning that 'A' level Spanish is on the up and up. Lot of space in Spain.

I would imagine that's because teachers are under pressure from the government to get pupils to take hard subjects like languages and sciences, and Spanish is seen as the easy option when it comes to languages.

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Credit card debt is a no no, the more you spend on credit card debt the poorer you eventually get,

Starting to wonder if racking up 15k of debt and then having it wiped out with one of those government schemes is the way to go.

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It will kick off when the youth can no longer afford, brands, phones and designer clothes in order to pay rents.

Edited by aSecureTenant

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This is a generational change. It will have quite a big impact in 10-20 years.

They are not hardwired to want to own a property like kids in 70s/80s were.

They are about to inherit a large basket of problems as previous generations have taken a mortgage out on their behalf and left them with no assets in return.

As soon as this gen gain power - they are going to raid those previous generations without any remorse:

- land and asset taxes

- CGT increases

- pension and pension allowance decreases

- removal of health care ("well you did it to our education")

- increase in pension age

- nationalisation of private pension funds

At the same time, they're not going to want to buy that property you've spent your life making sacrifices to pay for - at least not for the price you were expecting.

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Caught up with my 22 year old daughter and she tells me of a growing band of young, single 20 somethings earning between 20-25k. They've given up the idea of ever buying a house. They rent the cheapest places available, even share rooms, eat Pot Noodle and baked beans during the week and then splurge at the weekends - the finest restaurants, hotels, designer clothes, festivals. Who can blame them?

Reminds me of when I was a single 20 something except we didn't do the weekend splurging.

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