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Majority Of Over-50's Own A Mortgage-free Property

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http://www.statistics.gov.uk/CCI/nugget.as...Rank=1&Rank=326

What was it David Willetts said the other day?

In a brilliant speech on Monday, David Willetts, the Shadow Trade and Industry spokesman, set out why today’s 25-year-old will be significantly worse off in 25 years’ time than a 50-year-old is now. The decline in final salary pension schemes, the increasing difficulty of getting a toehold in a housing market that is still paying huge dividends to their parents, and the ending of free university education puts today’s 25-year-old at a number of disadvantages. They are far less likely to be home owners than they were 20 years ago. Because they cannot afford to buy a home, they will delay having families so will have children later and therefore have fewer of them, and so the cycle continues. In terms of opportunity and wealth, the postwar baby boomer generation has had and continues to have it all.

Baby boomers, concluded Mr Willetts, “have shaped an economic and social environment that works for them very well. A young person could be forgiven for believing that the way in which economic and social policy is now conducted is little less than a conspiracy by the middle-aged against the young.”

No wonder they have no idea what we're going through...

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http://www.statistics.gov.uk/CCI/nugget.as...Rank=1&Rank=326

What was it David Willetts said the other day?

No wonder they have no idea what we're going through...

Boomers got into the market in the late 1970's and stayed with it. Most who owned back then have paid off their mortgages by now. Most are probably dismayed at house prices because their kids cannot afford to buy. An overvalued house is worthless as a profit item unless you plan to sell and move somewhere cheaper (or leave the house to generation X & Y). The problem is not baby boomers but cheap credit, lie to buy, hype and greed, and the old fashioned housing cycle.

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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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