14 Bleak Economic Facts That Will Enrage Every 20-Something

[winkie]

By the same token I don't think many of the older population quite realise just how expensive housing is compared to when they bought. All they see are low interest rates and perceive that all the young are blowing their money on ipods and mobiles (ok, I admit some of them are but not all - and no different I am sure to the older generation 'wasting' their money on records and flares etc).

It was very difficult to buy property in the 60s...people I know who did required a large deposit, had to have a long standing relationship with the lender, have references and show verified income and affordability......renting was secure and rents reasonable and houses did not make more than a persons salary every year in equity/profit.....funny how off putting buying a house is when it does not make money only costs money.

[(Blizzard)]

It was very difficult to buy property in the 60s...people I know who did required a large deposit, had to have a long standing relationship with the lender, have references and show verified income and affordability......renting was secure and rents reasonable and houses did not make more than a persons salary every year in equity/profit.....funny how off putting buying a house is when it does not make money only costs money.

Difficult is not the same as expensive.

[winkie]

Difficult is not the same as expensive.

Precisely.....because it was more difficult it wasn't so expensive apart from a few other reasons....your two bed semi costing £1m and you get lent £1m you buy said property, a property that it will take 3 generations with a bit of luck to pay for it.

Extension of debt rolled over, states do it therefore we have to do it....lead by example.

[davidg]

: The beginning of the decline of the baby boomers' social and political influence, but that is going to wane over the coming years too.

That's true, they'll be dead, hard to vote when you are dead.

[oracle]

I'm afraid people a little older than that also have lost faith in politicians. :angry:

"Big hands, big hands take all they can! All for themselves. All for themselves!"

"Everything counts in large amounts!"

Now name that tune!

can't remember the name but it's by depeche mode.

they also did another rather apt one for this time called "masters and servants"

..let's not play.

Edited October 19, 2013 by oracle

[Dorkins]

That's true, they'll be dead, hard to vote when you are dead.

Before they move on to the afterlife, Boomer NIMBYs could introduce perpetual standing votes for dead people in order to block the construction of new housing within 10 miles of the cemetery from now until that area of continental crust is destroyed by the movement of tectonic plates.

[davidg]

And if you're even too lazy to read an article designed for people don't like reading long articles, here's the 3 that are most relevant to house prices:

7. But your rent seems to go up quite a lot every year too.

What are you doing reading this? You should be desperately refreshing SpareRoom.com to find that perfect windowless closet just half an hour walk from the nearest bus stop for £700 per month.

8. And you will never be able to afford to buy a house.

The Germans can afford to buy homes. Perhaps we should all move to Germany.

9. Old people: they own all of the homes.

Good luck prying them out of their enormous mansions.

Do rent go up every year? Maybe in London but not elsewhere where rents have been pretty static over the last decade.

Germans can afford to buy homes? Another dubious factoid. But go ahead, move to Germany if the UK sucks. I lived there for a couple of years after uni and would recommend seeing a bit of life outside the UK to anyone.. As Paul Mason found out, a lot of people would have difficulty coping with the German lifestyle.

Yeah, old people do have trouble downsizing.

[Reck B]

can't remember the name but it's by depeche mode.

they also did another rather apt one for this time called "masters and servants"

..let's not play.

Everything Counts.

Have been listening to their best of this week. Great band.

Also did I just can't get enough. Which is also quite apt.