Young people feel robbed of a better life but they don't know what to do about it

Bear said:
The previous generation are your parents, the ones making a comfortable life so when they pass away will leave their children who are already soft and pampered a comfortable life.
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My parents have diddly squat. Of that the govt will take its 40% inheritance tax. I'll be left with 60% of not very much.

Besides, I'd rather make my own way than have to rely on my parents dying. What kind of mindset would that be? "I'll be sorted when my parents die."

I can't even imagine that kind of perverse logic. I'd rather keep my parents than have their money.
 
FoxEye said:
Yeah, the entitlement of the previous generation.

You ask why it's fair that they have ever increasing housing portfolios and they say "We worked hard all our lives." The assumption, of course, is that we have the same opportunities they did, so we must not work as hard.

You ask if it's fair that our generation are paying the mortgage for their 3rd, 4th housing, and they say "Of course it's fair."

Oh yes, the entitlement of the previous generation is there for all to see.
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Well of course it goes without saying that it is easier to make money if you have money than if you do not. This has always been the case.

If course wealth can be lost or squandered if not tended to correctly. But that's not to say that in today's economy it is easier to make larger wealth with smaller investments than before due to the Internet. You don't have to be outstanding in your field or very wealthy to make money.

Are we who work 9-5 simply the schmucks who can't shake a habit or don't have the confidence to go it alone? Is it becoming a cultural thing,?
 
lol FoxEye. Why is it not fair that they're paying off (whoever "they" are, as it's not your parents, clearly) their mortgages on their multiple properties? They had to get that money in the first place, they had to take those risks.
 
FoxEye said:
My parents have diddly squat. Of that the govt will take its 40% inheritance tax. I'll be left with 60% of not very much.

Besides, I'd rather make my own way than have to rely on my parents dying. What kind of mindset would that be? "I'll be sorted when my parents die."

I can't even imagine that kind of perverse logic. I'd rather keep my parents than have their money.
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I didn't mean your parents, I don't even know you so how the hell would I know what your parents have or don't have. The point was your annoyance of the previous generation is based on hating on the generation of your parents and the wish that parents want to look after their children. Something that is perfectly natural.
 
The Running Man said:
Well of course it goes without saying that it is easier to make money if you have money than if you do not. This has always been the case.

If course wealth can be lost or squandered if not tended to correctly. But that's not to say that in today's economy it is easier to make larger wealth with smaller investments than before due to the Internet. You don't have to be outstanding in your field or very wealthy to make money.

Are we who work 9-5 simply the schmucks who can't shake a habit or don't have the confidence to go it alone? Is it becoming a cultural thing,?
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Why shouldn't people who work 9-5 jobs be able to buy their own house?

We almost worship entrepreneurs in this country. If you don't run your own business, you're a "schmuck".

You don't deserve anything if you work 9-5 for someone else. It's bizarre that this viewpoint has become enshrined.
 
Why you should you have as much though? Not nothing, but as much? Working 9-5 isn't taking any of the stress or risk burden of starting your own business so why should you have as much as someone who does?

You need the doers, the 9-5ers in life, or it wouldn't turn. So you need to make sure they can have a home, sure, but don't **** on the people who take the risks and reap the rewards.
 
FoxEye said:
My parents have diddly squat. Of that the govt will take its 40% inheritance tax. I'll be left with 60% of not very much.

Besides, I'd rather make my own way than have to rely on my parents dying. What kind of mindset would that be? "I'll be sorted when my parents die."

I can't even imagine that kind of perverse logic. I'd rather keep my parents than have their money.
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I don't think you actually understand inheritance tax...
 
randomshenans said:
lol FoxEye. Why is it not fair that they're paying off (whoever "they" are, as it's not your parents, clearly) their mortgages on their multiple properties? They had to get that money in the first place, they had to take those risks.
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Go play with the traffic. I've seen your replies to others in this thread and you're clearly part of the problem, not the solution.

The day is coming, believe me, when the rich will be torn down, and the poor will take back by force what they have been denied.

Can't wait. Our society is rotten to the core.
 
Part of the problem? Hehe

I want education reform and transparent opportunities for all. Some though, won't take them and that is not the fault of anyone but themselves and their parents. Horse to water...

p.s. your parents are poor.
 
It is a bit bleak in some ways but I don't know how the picture is more generally (my perspective is kind of limited to upper middle class) - I've got far more money saved up (adjusted) than my parents had when they bought their first house and I wouldn't be able to afford anything like as nice and I can't see a lot of the younger generation now being able to afford even as much unless they are in the upper percentage.

Opportunities in every way seem reduced compared to what I remember as a child and the world my parents talked of or even my grandparents when they were in their early 20s.
 
Also LOL at "taking a risk" when buying more property.

These people bought their first house when it cost about 3-5 years salary and no more. They then watched the value of that asset grow and grow. Then they added more property, and let renters pay the mortgages.

Where's the risk? People will always need a place to live, and the government will not let house prices crash. We know this. They will do whatever it takes to keep the house market afloat. Even if it means spending public money to keep prices going up, like they've done recently.
 
FoxEye said:
Also LOL at "taking a risk" when buying more property.

These people bought their first house when it cost about 3-5 years salary and no more. They then watched the value of that asset grow and grow. Then they added more property, and let renters pay the mortgages.

Where's the risk? People will always need a place to live, and the government will not let house prices crash. We know this. They will do whatever it takes to keep the house market afloat. Even if it means spending public money to keep prices going up, like they've done recently.
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So why didn't everyone do it, then?
 
Edrof said:
Seriously though, I don't see me ever being able to afford to buy a house because I don't have £50,000+ lying around doing nothing. Yet I can easily afford a high monthly rent. I was unfortunate enough to start wanting to get on the property ladder a year or so after everything went wrong, whereas my friend was older and bought just before. Now he has a lovely, affordable house with a small mortgage and I'll be paying dead money for the rest of my life with less security and little sense of permanency. So, in that respect, I do feel screwed over.
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Give a few more years and the housing bubble will burst. As soon as interest rates go back up there's going to be plenty of people that won't be able to afford their new higher repayments. Lots of foreclosures and it will once again be a buyers market, rather than a sellers market. It's about every ten to fifteen years.
 
randomshenans said:
Thank you darling. Gold stars are what I'm used to. I used to have 1 on my Mcdonalds badge and I treasured it. :D
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I'm upset because like so many, my future prospects are dim.

You could try to have a bit of empathy, but you don't seem to care. I work 9-5, therefore I'm a loser and don't deserve a house or anything but derision. I don't take "risks" by starting my own company, and I don't evade tax like the cool kids.

Also I wasn't born in the 60s so I'm late to the housing party. Property prices now set to rise 6-10% each year, making the value of anything I save diminish rapidly each year.

Thanks, Obama.
 
One said:
Give a few more years and the housing bubble will burst. As soon as interest rates go back up there's going to be plenty of people that won't be able to afford their new higher repayments. Lots of foreclosures and it will once again be a buyers market, rather than a sellers market. It's about every ten to fifteen years.
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Japan had a housing bubble for 20+ years. You basically don't get one until you inherit it. And they aren't even nice houses, they are tiny and barely insulated.

I don't think it will go down until the baby boomers start dying off in droves and the houses have to be sold to pay inheritance tax.
 
kwerk said:
Must be nice having an eternal boogey man woman to blame for everything wrong that ever happened in the UK. Just put your mind in standby mode and blame Thatcher.

House prices tripled after 1998.

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Yes and why is that ? NO MORE AFFORDABLE HOUSING STOCK

Thatcher done this country over, we are paying the price tenfold now as all party politics is based on GREED.
 
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