The Old Get Richer As Under-34s Fall Behind

[Hino98]

We have politicians constantly fretting about guncrime and teenage hoodies. Their solutions are usually based on locking 'em up or trying to convince them that it is not worth getting involved in such activities.

The root cause of these problems is in fact intergenerational inequity. The young are expected to grow up without any hope of having a basic family life, and most people would agree that this transition from youth to adulthood and responsibility (with its rewards of respectability and a stable family home) is the bedrock of a happy and stable society.

The young feel little respect towards older people because older people have taken all the assets in society, and continue to do so. The young have no real means of getting their fair share of society's assets - the game is rigged against them.

This will translate into years of good quality of life for the boomers being paid for by years of declining quality for the young.

There will come a point, in maybe 10-15 years when the sheer weight of decrepit boomers will be unsupportable, their assets will crash in value (whether that be nominal or real) as they are forced to sell them to pay for health and social care. The care that they will receive will be of a poor quality as there won't be enough people or money to provide current standards.

Most of them will die miserably in a pool of their own sh*t, p*ss and vomit. If things get really bad, they will die in a pool of someone else's as well. Enjoy the good times while they roll, boomers, it can't last forever. If you're lucky euthanasia will be legalised allowing you a respectable exit.

Oh you poor sad little pr1ck

Sonny, I believe that if you only expanded half of the effort you put into that post, into a job application. Then your obviously sad position might improve dramatically

I believe that Alcoholics Anonymous have what they call a twelve step plan. This is aimed at helping alcoholics achieve sobriety, I believe the first step is to stand up and state my name is #### and I'm a alcoholic.

Perhaps you could follow their example with your problem ? Your first step on the road to a cure, would be to stand-up and state" My name is "Smell the Fear", and I'm a sad little loser without the balls to improve my own sad position in life and I prefer to blame others for my sad state, rather than make the effort to advance myself.

Though the post you just made, more than effectively, serves that purpose

As I posted earlier, proudly displaying the finger you removed from your @rse is a great advance for you and I think we could count that as the second of your 'Twelve Steps' .

Finding yourself a job, no matter how menial, would be a great 'Third step'

Then returning to the education system to try to obtain some sort of meaningful qualification would be an ideal 'Forth Step'.

I realise that this must seem like a long journey for you, though you must remember that the longest journey starts with but a single step and I am behind you all the way

Don't dwell on far you have to go.... instead try to concentrate on what you have achieved already.

Within days of starting your 'self improvement course', you have admitted that you are a whining loser and you have removed your finger from up your @rse

Fantastic stuff "STF", now for that job.....I hear there lots of 'entry level' positions in nursing homes going begging. One of those might be just the thing for you....what with your extensive knowledge of bodily functions and all

ps. The only 'problem' I have with my bodily functions is damn near pissing myself at your idiot posts.......keep up the good work sonny, laughter is the cornerstone of life

[JustYield]

It's all demographics - sheer weight of numbers.

Rather than try to compete on the same terms as previous generations, sidestep the conventional orthodoxy completely. Consider doing more inspiring things with your lives than buying a semi in Surbiton.

You can't fight the market, so stop wasting energy.

[winkie]

It's all demographics - sheer weight of numbers.

Rather than try to compete on the same terms as previous generations, sidestep the conventional orthodoxy completely. Consider doing more inspiring things with your lives than buying a semi in Surbiton.

You can't fight the market, so stop wasting energy.

Look for new markets, start a new trend. A lifetime of working to pay for over priced bricks is not something I would aspire to if I was a FTB today.

There has got to be better ways to enjoy your life, and it's not being part of the want it at any cost crowd.

Edited March 20, 2007 by winkie

[Son of Taeper]

I'll settle for the elder generation living in a house they use most of. Do you have spare bedrooms? A separate dining room? Do you use them? Do you have rooms you just don't use at all most of the year? How about downsizing to a house you use all of? Not asking you to sell at below market price; people moving to smaller houses would start the slide in the market so we can get a hold on it.

Saving 35% of my net income enough for you? I did try 50% for a while, but was climbing the walls in frustration at how little spending money it left me with, especially after 20% goes on just paying the rent (before bills, sharing a 3 bedroom council house with two friends, would be 40+% for a one bedroom flat of my own).

Lets get this right, what you are saying is that if everyone moved into a house that was just about big enough for them that the market would collapse ?

Surely the people living in houses that are too large for them frees up the 1 bed flats for you guys….or did you want to live in a house that is too large for you? Anyway, imagine what a sudden rush to by 1 bed flats would do to that market….and could you compete with someone that had half a million to play with?

[bugged bunny]

Lets get this right, what you are saying is that if everyone moved into a house that was just about big enough for them that the market would collapse ?

Surely the people living in houses that are too large for them frees up the 1 bed flats for you guys….or did you want to live in a house that is too large for you? Anyway, imagine what a sudden rush to by 1 bed flats would do to that market….and could you compete with someone that had half a million to play with?

Ah, excuses, excuses, excuses.

Think about it a little harder - there are properties of intermediate size between a 1-bed flat and a 4-bed detached, you know.

A decent human being will be able to come up with a constructive, egalitarian answer. A greedy, grasping, self-serving person won't, in my experience.

Edited March 20, 2007 by bugged bunny

[bugged bunny]

It's all demographics - sheer weight of numbers.

Rather than try to compete on the same terms as previous generations, sidestep the conventional orthodoxy completely. Consider doing more inspiring things with your lives than buying a semi in Surbiton.

You can't fight the market, so stop wasting energy.

That's good advice.

Look to your peers, not to previous generations, and show some solidarity.

[Son of Taeper]

House price inflation. I thought you might have heard about it, its been in the press a lot the last few years.

Sure I heard about it, it's been going on for hundreds of years. Most people get by with a bit of hard work, for those that don't there is the workhouse.

[PricedOutNative]

- whats the point of working hard anymore as it gets you nowhere!

You’ve hit the nail on the head there! The concept that working hard and being careful with your money will bring long term benefit has disappeared and with it a sense of well being for many people.

[Son of Taeper]

Oh you poor sad little pr1ck

Sonny, I believe that if you only expanded half of the effort you put into that post, into a job application. Then your obviously sad position might improve dramatically

I believe that Alcoholics Anonymous have what they call a twelve step plan. This is aimed at helping alcoholics achieve sobriety, I believe the first step is to stand up and state my name is #### and I'm a alcoholic.

Perhaps you could follow their example with your problem ? Your first step on the road to a cure, would be to stand-up and state" My name is "Smell the Fear", and I'm a sad little loser without the balls to improve my own sad position in life and I prefer to blame others for my sad state, rather than make the effort to advance myself.

Though the post you just made, more than effectively, serves that purpose

As I posted earlier, proudly displaying the finger you removed from your @rse is a great advance for you and I think we could count that as the second of your 'Twelve Steps' .

Finding yourself a job, no matter how menial, would be a great 'Third step'

Then returning to the education system to try to obtain some sort of meaningful qualification would be an ideal 'Forth Step'.

I realise that this must seem like a long journey for you, though you must remember that the longest journey starts with but a single step and I am behind you all the way

Don't dwell on far you have to go.... instead try to concentrate on what you have achieved already.

Within days of starting your 'self improvement course', you have admitted that you are a whining loser and you have removed your finger from up your @rse

Fantastic stuff "STF", now for that job.....I hear there lots of 'entry level' positions in nursing homes going begging. One of those might be just the thing for you....what with your extensive knowledge of bodily functions and all

ps. The only 'problem' I have with my bodily functions is damn near pissing myself at your idiot posts.......keep up the good work sonny, laughter is the cornerstone of life

Right on Hino

[Son of Taeper]

Ah, excuses, excuses, excuses.

I didn't make any excuses. Far from it, I am about to complete on a 2 bed bungalow that we will have to shoe horn ourselves into having moved out of a 5+ bedroomed property.

Think about it a little harder - there are properties of intermediate size between a 1-bed flat and a 4-bed detached, you know.

Thought about it, you mean like 2 bed bungalows ?

A decent human being will be able to come up with a constructive, egalitarian answer. A greedy, grasping, self-serving person won't, in my experience.

You are soooooo right.

So, given that I complete on the downsize on 04/04/07 I take it the crash starts on the 05/04/07 ?

Hey, you're not the spotty kid with the i-pod that bought my house are you?

Edited March 20, 2007 by Son of Taeper

[rnicoll]

Lets be honest, it has never been the case that a FTB'er can buy a house.

Everyone starts out in a studio flat, then the luxury of a seperate bedroom with a flushing close coupled lavatory, then a two bed mid terrace, then a detached.

I'm doubting everyone goes through all those steps, as the fees would be a nightmare...

Still; the other issue I have is that, even if I can buy my first flat, if I'm really lucky I can afford the jump up to a 2 bedroom flat (at today's prices) before I retire. To actually buy somewhere, I'm looking at a 25 year mortgage for nearly everything I can afford per month. I can save a little on top of that for emergencies, but 25 years down the line I'm going to find myself in a one bedroom flat I own outright, with little in the way of money saved towards a new place. This is in comparison to the expectation the older generation seem to have, that a few years down the line I'll have saved enough to move to somewhere bigger.

My salary is more or less at the peak of going rate for the job I do. I'm attempting to move towards management, or team leader positions, to give me a promotion path from here, but I certainly can't rely on being paid more to help me buy somewhere bigger.

[bugged bunny]

I didn't make any excuses. Far from it, I am about to complete on a 2 bed bungalow that we will have to shoe horn ourselves into having moved out of a 5+ bedroomed property.

Thought about it, you mean like 2 bed bungalows ?

You are soooooo right.

So, given that I complete on the downsize on 04/04/07 I take it the crash starts on the 05/04/07 ?

Hey, you're not the spotty kid with the i-pod that bought my house are you?

Well done - you've worked out that there are properties in between a 5+ bedroomed house and a 1-bed flat. Congratulations are in order. Perhaps you could reflect this reality in your posts rather than using wild hysterical exaggeration.

I don't own an i-pod and I'm not spotty. I don't believe a spotty kid with an i-pod would be buying a 5+ bedroomed house. That's pure bullsh1t and everyone can see that.

You're living in a fantasy world, along with so many other boomers.

[Smell the Fear]

Oh you poor sad little pr1ck

Sonny, I believe that if you only expanded half of the effort you put into that post, into a job application. Then your obviously sad position might improve dramatically

I believe that Alcoholics Anonymous have what they call a twelve step plan. This is aimed at helping alcoholics achieve sobriety, I believe the first step is to stand up and state my name is #### and I'm a alcoholic.

Perhaps you could follow their example with your problem ? Your first step on the road to a cure, would be to stand-up and state" My name is "Smell the Fear", and I'm a sad little loser without the balls to improve my own sad position in life and I prefer to blame others for my sad state, rather than make the effort to advance myself.

Though the post you just made, more than effectively, serves that purpose

As I posted earlier, proudly displaying the finger you removed from your @rse is a great advance for you and I think we could count that as the second of your 'Twelve Steps' .

Finding yourself a job, no matter how menial, would be a great 'Third step'

Then returning to the education system to try to obtain some sort of meaningful qualification would be an ideal 'Forth Step'.

I realise that this must seem like a long journey for you, though you must remember that the longest journey starts with but a single step and I am behind you all the way

Don't dwell on far you have to go.... instead try to concentrate on what you have achieved already.

Within days of starting your 'self improvement course', you have admitted that you are a whining loser and you have removed your finger from up your @rse

Fantastic stuff "STF", now for that job.....I hear there lots of 'entry level' positions in nursing homes going begging. One of those might be just the thing for you....what with your extensive knowledge of bodily functions and all

ps. The only 'problem' I have with my bodily functions is damn near pissing myself at your idiot posts.......keep up the good work sonny, laughter is the cornerstone of life

I'm not surprised that you completely fail to address anything that I said and opt instead for ad hominem abuse. As for getting myself qualifications and a career etc. trust me, I am one of the people you will be utterly dependent on in the future, and I will be paid several times national average earnings to do it.

Still doesn't mean I can afford a decent family home. I can afford something adequate, but this isn't just about me. This is about the people who will be living in UK shanty towns in the future if things don't change. The families crammed into 1 bed flats. But I suppose they are just lazy, eh?

[Guest AuntJess]

Oh you poor sad little pr1ck

Sonny, I believe that if you only expanded half of the effort you put into that post, into a job application. Then your obviously sad position might improve dramatically

I believe that Alcoholics Anonymous have what they call a twelve step plan. This is aimed at helping alcoholics achieve sobriety, I believe the first step is to stand up and state my name is #### and I'm a alcoholic.

Perhaps you could follow their example with your problem ? Your first step on the road to a cure, would be to stand-up and state" My name is "Smell the Fear", and I'm a sad little loser without the balls to improve my own sad position in life and I prefer to blame others for my sad state, rather than make the effort to advance myself.

Though the post you just made, more than effectively, serves that purpose.

As I posted earlier, proudly displaying the finger you removed from your @rse is a great advance for you and I think we could count that as the second of your 'Twelve Steps' .

Finding yourself a job, no matter how menial, would be a great 'Third step'

Then returning to the education system to try to obtain some sort of meaningful qualification would be an ideal 'Forth Step'.

I realise that this must seem like a long journey for you, though you must remember that the longest journey starts with but a single step and I am behind you all the way.

Don't dwell on far you have to go.... instead try to concentrate on what you have achieved already.

Within days of starting your 'self improvement course', you have admitted that you are a whining loser and you have removed your finger from up your @rse

Fantastic stuff "STF", now for that job.....I hear there lots of 'entry level' positions in nursing homes going begging. One of those might be just the thing for you....what with your extensive knowledge of bodily functions and all.

ps. The only 'problem' I have with my bodily functions is damn near pissing myself at your idiot posts.......keep up the good work sonny, laughter is the cornerstone of life

[rnicoll]

I don't own an i-pod and I'm not spotty. I don't believe a spotty kid with an i-pod would be buying a 5+ bedroomed house. That's pure bullsh1t and everyone can see that.

There's a few. Parent's money isn't too uncommon in some areas (I've given tours of places we were renting, to people younger than me, because their parents were looking at buying the place and renting it to their children). Some people did make money for the tech stock boom, or from Internet startups. A decent number of university graduates sell their soul/lives to companies for seriously high salaries.

Having said that, Son of Taeper, if you could ask them how, we'd love to know

Edited March 20, 2007 by rnicoll

[bugged bunny]

There's a few. Parent's money isn't too uncommon in some areas (I've given tours of places we were renting, to people younger than me, because their parents were looking at buying the place and renting it to their children). Some people did make money for the tech stock boom, or from Internet startups. A decent number of university graduates sell their soul/lives to companies for seriously high salaries.

Having said that, Son of Taeper, if you could ask them how, we'd love to know

You're right - but those types tend to buy/be bought 3-bed houses in my experience - not a 5+ bedroom house.

I'm sure Son of Taeper was using a stereotype purely to put down the younger generation, as he usually does.

[Son of Taeper]

I'm doubting everyone goes through all those steps, as the fees would be a nightmare...

You're right, the fees were a nightmare but we didn't all have the luxury of having the money to go straight into a 2 bed apartment in Belgravia.

Still; the other issue I have is that, even if I can buy my first flat, if I'm really lucky I can afford the jump up to a 2 bedroom flat (at today's prices) before I retire. To actually buy somewhere, I'm looking at a 25 year mortgage for nearly everything I can afford per month.

You'd be surprised at how quickly you can find the extra cash to pay the mortgage off early.

This is in comparison to the expectation the older generation seem to have, that a few years down the line I'll have saved enough to move to somewhere bigger.

Ooops, I think we've coverded that one

My salary is more or less at the peak of going rate for the job I do. I'm attempting to move towards management, or team leader positions, to give me a promotion path from here, but I certainly can't rely on being paid more to help me buy somewhere bigger.

Rely on nothing.

[Son of Taeper]

Well done - you've worked out that there are properties in between a 5+ bedroomed house and a 1-bed flat. Congratulations are in order. Perhaps you could reflect this reality in your posts rather than using wild hysterical exaggeration.

I don't own an i-pod and I'm not spotty. I don't believe a spotty kid with an i-pod would be buying a 5+ bedroomed house. That's pure bullsh1t and everyone can see that.

You're living in a fantasy world, along with so many other boomers.

Sooo, tell us how my downsizing has helped any ftb out (or even caused a crash in the property market.

[rnicoll]

Sooo, tell us how my downsizing has helped any ftb out (or even caused a crash in the property market.

Well, by reducing pressure on available housing. I like to hope that spotty iPod kid has 4+ friends who will be taking over the spare rooms in the house... certainly, it's how everyone I know whose thinking of buying, at the moment, makes it possible...

[bugged bunny]

You're right, the fees were a nightmare but we didn't all have the luxury of having the money to go straight into a 2 bed apartment in Belgravia.

How many FTBs do you know who expect to buy a 2 bed apartment in Belgravia? No, don't tell me, must be hundreds, I'm sure!

This is just another classic straw man argument... a sign of desperation because you know you are losing the argument, badly.

[Son of Taeper]

Well, by reducing pressure on available housing. I like to hope that spotty iPod kid has 4+ friends who will be taking over the spare rooms in the house... certainly, it's how everyone I know whose thinking of buying, at the moment, makes it possible...

And I like to hope he's aware a crash is on it's way and interest rates are on the up.

I'll settle for mortgage free for a while

[bugged bunny]

Sooo, tell us how my downsizing has helped any ftb out (or even caused a crash in the property market.

Supply and demand.

It would have helped a lot more if you'd downsized sooner of course.

But you've made loadsamoney by downsizing now and that's seems to be the bottom line as far as your concerned.

[Son of Taeper]

How many FTBs do you know who expect to buy a 2 bed apartment in Belgravia? No, don't tell me, must be hundreds, I'm sure!

"Expect" was the word you used and I'm happy to run with it

"hundreds" was a word you also used and once again I'm happy to run with it

This is just another classic straw man argument... a sign of desperation because you know you are losing the argument, badly.

It just gets better, I don't need to post while you're on.

Re-read your post and you might see what I mean (I doubt it though)

[Son of Taeper]

There's a few. Parent's money isn't too uncommon in some areas (I've given tours of places we were renting, to people younger than me, because their parents were looking at buying the place and renting it to their children). Some people did make money for the tech stock boom, or from Internet startups. A decent number of university graduates sell their soul/lives to companies for seriously high salaries.

Having said that, Son of Taeper, if you could ask them how, we'd love to know

I'd love to know too, I had to work for what I got.

[bugged bunny]

"Expect" was the word you used and I'm happy to run with it

"hundreds" was a word you also used and once again I'm happy to run with it

It just gets better, I don't need to post while you're on.

Re-read your post and you might see what I mean (I doubt it though)

You're even more ignorant than I originally thought. Why don't you educate yourself by finding out what a straw man argument actually is?