And boomers wonder why millennials are bitter towards them..

[Jean-F]

Our 3 bed semi in a nice NE London suburb purchased for £71K in 1994, sold for £726K in 2018.

I can see why younger generations get the hump with the opportunities that Boomers/Generation Xers got as they’re unlikely to be repeated in their lifetimes.

We bought our new build 3 bedroom terraced house, in a collection of 44 houses and 4 low rise blocks of flats in Rotherhithe in 1984, 8 houses were at the edge of the Thames, the rest up to 120 metres from the river.
It cost £58,000, and we moved in in January 1985, in September that year an estate agent cold called me, and offered me £180,000 for it.
Houses the same as ours peaked at £1.7 mil, now they’re going for £1.4.
My wife is constantly bugging me to sell, and move near her dad, in Herne Bay.
I know it makes sense, but there’s no way that I want to live anywhere other than London if we stay in U.K.
I am leaning on her to move somewhere near Lyon, France, I have relatives in Brignais and Vienne, as well as some in Montpellier, we’ve seen a great 4 bed house, 2 bath/showers with pool for £795,300 in Charly, just outside Lyon.
Fly in the ointment is her total inability to say anything more than Bonjour, Au revoir, and ces chaussures en 38, s’il vous plaît.

 

[Freefaller]

So much salt in this thread.


Life is not bad for millenials, gen z, et Al. There's more equality and diversity movements, there are more start ups and SMEs than before, there's a wealth of opportunity. You've just got to work your arse off for it.

I was given nothing other than hot dinners and a roof over my head when I was a kid. No inheritance, no property. I've been in huge debt, and worked my way out of it. I paid my way to university, took a year out to save up, I worked weekends whilst everyone was getting trollied. I worked summers and Easters whilst everyone was going skiing or getting a tan. I've forgone luxuries and 5* holidays, and lived in crappy parts of London and suburbia. I worked 2 jobs, and still squeezed in time for friends, and keeping fit. It took me one and half decades but I got myself on the property ladder, and a well paid job with the ability to save and enjoy a little frivolous spending.

I look in the post what you've bought, or the motors threads, or the hardware threads, people here are spending money and have money to spend. If life is so tough why whinge about it on a forum full of affluent people? Go and work, dig yourself out of the hole.

Life is ****ing hard work sometimes. Just because some people made some money on their homes doesn't mean there weren't sacrifices along the way. Not everyone that has made money is entitled, or got lucky. Those are the exceptions.

 

[Diagro]

Bought our house in 2008 for £125k.

Its now worth £230k based on Zoopla.

Houses we want to buy are in the price range of 450k... Thankfully we earn a combined 70k so can easily cover the shortfall with a mortgage.

 

[randomshenans]

So much salt in this thread.


Life is not bad for millenials, gen z, et Al. There's more equality and diversity movements, there are more start ups and SMEs than before, there's a wealth of opportunity. You've just got to work your arse off for it.

I was given nothing other than hot dinners and a roof over my head when I was a kid. No inheritance, no property. I've been in huge debt, and worked my way out of it. I paid my way to university, took a year out to save up, I worked weekends whilst everyone was getting trollied. I worked summers and Easters whilst everyone was going skiing or getting a tan. I've forgone luxuries and 5* holidays, and lived in crappy parts of London and suburbia. I worked 2 jobs, and still squeezed in time for friends, and keeping fit. It took me one and half decades but I got myself on the property ladder, and a well paid job with the ability to save and enjoy a little frivolous spending.

I look in the post what you've bought, or the motors threads, or the hardware threads, people here are spending money and have money to spend. If life is so tough why whinge about it on a forum full of affluent people? Go and work, dig yourself out of the hole.

Life is ****ing hard work sometimes. Just because some people made some money on their homes doesn't mean there weren't sacrifices along the way. Not everyone that has made money is entitled, or got lucky. Those are the exceptions.

So much this.

 

[FoxEye]

So much salt in this thread.


Life is not bad for millenials, gen z, et Al. There's more equality and diversity movements, there are more start ups and SMEs than before, there's a wealth of opportunity. You've just got to work your arse off for it.

I was given nothing other than hot dinners and a roof over my head when I was a kid. No inheritance, no property. I've been in huge debt, and worked my way out of it. I paid my way to university, took a year out to save up, I worked weekends whilst everyone was getting trollied. I worked summers and Easters whilst everyone was going skiing or getting a tan. I've forgone luxuries and 5* holidays, and lived in crappy parts of London and suburbia. I worked 2 jobs, and still squeezed in time for friends, and keeping fit. It took me one and half decades but I got myself on the property ladder, and a well paid job with the ability to save and enjoy a little frivolous spending.

I look in the post what you've bought, or the motors threads, or the hardware threads, people here are spending money and have money to spend. If life is so tough why whinge about it on a forum full of affluent people? Go and work, dig yourself out of the hole.

Life is ****ing hard work sometimes. Just because some people made some money on their homes doesn't mean there weren't sacrifices along the way. Not everyone that has made money is entitled, or got lucky. Those are the exceptions.

Not everybody wants to work their ass off doing two jobs for 15 years to get their first house.

And really, they shouldn't have to. Hear me out.

The whole point is, there should be a market that satisfies the needs of all.

Don't want to work 2 jobs and bust your ass 16 hours a day? That's fine, you can buy a 1 bed flat for £30k.

Want to do what you did and absolutely dedicate yourself to earning money? Here's a 5 bedroom 4-story house for £1.5 million.

Right now, even the 1-bed flat is £600k in many parts of the country. It's utterly ridiculous.

We shouldn't be forcing people to structure their whole lives around working their ass off, just to get a roof over their heads.

Who does that even benefit? As usual, the money flows upwards. By participating in the current market, you're just enriching somebody at the top. The banks are laughing their assess off. They have you enslaved your whole damn life just to own a house, and by the time you've paid it off your kids are begging you to re-mortgage it so they can get on the property ladder.

It's all structured to keep people in debt. Forever.

Other countries look at us and think we're mad. Our work-life balance is only the 2nd worse because the USA is even more mental.

 

[Feek]

And boomers wonder why millennials are bitter towards them..

Another thing to mention.. My parents bought their house for well under £2000 and when they moved out, they sold it for £50,000.
I don't remember anyone being bitter towards them simply because they'd made profit on a house.
To suggest that rising house prices are the reason one generation are bitter towards another generation is complete nonsense.

 

[fobose]

I earned <17k for my first 7 years of working, 19k for 2 years then 25k when I bought my house on my own at the age of 25. I had saved up a big deposit by then. I still had to pay rent to my parents (£210 - £280) or my friends family I was staying with when my parents moved to NZ.

It can be done, even on a low income. I chose not to have fancy cars, clothes, gadgets, smoke or drink to excess etc.

 

[stockhausen]

. . . To suggest that rising house prices are the reason one generation are bitter towards another generation is complete nonsense.

This.

Seems an utterly bizarre idea

 

[Fusion]

Not far from me, a 4-bed detached place built in 2004 sold in May for £195k. A reasonably new 3-bed detached went in April for £160k. A 2-bed semi went for £110k and would be fine as a starter home. These are reasonable streets too, nothing hellish.

If you're really not fussy about style of property (2/3 bed-terrace), you can get on the ladder near here for £80k or under. Some ropey streets and areas in this price bracket though. You can get a modern 2-bed flat on a decent patch for £90k.

Might not be London for all around job prospects, but you can commute to 3 cities and umpteen towns easily enough.

 

[FoxEye]

I look in the "post what you've bought" [thread], or the motors threads, or the hardware threads, people here are spending money and have money to spend. If life is so tough why whinge about it on a forum full of affluent people?

This part, however, is where I think you are probably correct.

Ultimately nobody here is going to sympathise because I'm fairly sure 90% here earn far, far more than average wage.

Perhaps I should simply accept that I'm not like you, and go somewhere less dismissive of those on low income. Because here, that makes you a ingrate who "just wants everything for free."

I don't want anything free, I just want a housing market that caters for all budgets, not just the people like you with money. I don't care how you got your money. I do know and accept it wasn't easy and you worked 15 years as a virtual slave to get it. Not for me.

Effectively you and others are saying that housing should only be for those with a lot of money. And if you don't have a lot of money, but you still want a roof over your head, you're "whinging".

Yeah, that's probably the attitude of most here. Over various threads I've seen it myself.

 

[Freefaller]

Not everybody wants to work their ass off doing two jobs for 15 years to get their first house.

And really, they shouldn't have to. Hear me out.

The whole point is, there should be a market that satisfies the needs of all.

Don't want to work 2 jobs and bust your ass 16 hours a day? That's fine, you can buy a 1 bed flat for £30k.

Want to do what you did and absolutely dedicate yourself to earning money? Here's a 5 bedroom 4-story house for £1.5 million.

Right now, even the 1-bed flat is £600k in many parts of the country. It's utterly ridiculous.

We shouldn't be forcing people to structure their whole lives around working their ass off, just to get a roof over their heads.

Who does that even benefit? As usual, the money flows upwards. By participating in the current market, you're just enriching somebody at the top. The banks are laughing their assess off. They have you enslaved your whole damn life just to own a house, and by the time you've paid it off your kids are begging you to re-mortgage it so they can get on the property ladder.

It's all structured to keep people in debt. Forever.

Other countries look at us and think we're mad. Our work-life balance is only the 2nd worse because the USA is even more mental.

Then don't worry about owning a property. Or move to somewhere where it's affordable. I come from a country where renting is normal, but also from another country where property is affordable, but the cost of living is different, and you do not get the luxuries that you get here. It's swings and roundabouts.

I'm not bitter towards my parents if they're able to retire early (they weren't able to retire early, in fact my father is in his 70s and still doing some work) because their house accrued a lot of value. Good for them! I don't expect any of it to come my way.

If you don't like the system, change where you're based, change your standards, or find a way to achieve a happy medium.

I personally enjoy working, but I never complained when I couldn't afford things when I was strapped for cash or seeing my friends get 5 figure lumps from inheritance or gifts - it's just the way it is. I'm hoping I'll be in a position to do the same for my kids - help them out a little, but not spoon feed them. They both have savings accounts (earning nothing) and also pension pots that we're building up. It's unlikely we'll be in the UK forever, but thought it would be wise to invest in their futures regardless.

Each generation is the scapegoat of the next generation. It's how it goes. The Gen z's will be blamed by their children, and on the cycle goes...

 

[Rofflay]

Renting is not normal, Its only normal in our predatory society it would once upon a time of been an alien concept. Renting for life = slavery for life. This is why the birth rate is tanking, Rental boomers are stopping average people from prospering.

 

[Freefaller]

This part, however, is where I think you are probably correct.

Ultimately nobody here is going to sympathise because I'm fairly sure 90% here earn far, far more than average wage.

Perhaps I should simply accept that I'm not like you, and go somewhere less dismissive of those on low income. Because here, that makes you a ingrate who "just wants everything for free."

I don't want anything free, I just want a housing market that caters for all budgets, not just the people like you with money. I don't care how you got your money. I do know and accept it wasn't easy and you worked 15 years as a virtual slave to get it. Not for me.

Effectively you and others are saying that housing should only be for those with a lot of money. And if you don't have a lot of money, but you still want a roof over your head, you're "whinging".

Yeah, that's probably the attitude of most here. Over various threads I've seen it myself.

Actually I don't think you should need to earn a lot of money to earn a property, and there are properties available for not a lot of money, but it comes down to compromise.

We moved out to the countryside, (because we didn't want to stay in london and couldn't afford a big house there) my commutes was 3hrs 45mins per day. I left home at 5am and got home no earlier than 7pm. I made that choice to move out of london (who wants to bring up kids in London?!), it was a sacrifice I knew I was making. I get rogered on season tickets, and rogered by train companies going on strike.. but it affords me the quality of life I want. When I'm home it's quiet, we have space, garden, and rolling fields and it's absolutely wonderful.

You need to accept compromises or else you'll go nuts. You have a choice not to work as hard as others, or earn as much (there's more to life than money, I've actually change jobs during the covid crisis and took a significant pay cut!), however you and only you can balance what is important to you in life. IF it's owning a property, do something about it, if it's earning money, do something about it, if it's both but without lifting a finger... then currently, that's not going to happen I'm afraid You've got to make your own luck sometimes, if I won 10s of millions on the lottery and had enough to not have to work, I probably would still do some work, because I enjoy it. But I'd a lot less of it. Though I'd go on more holidays, spoil myself a bit more, and enjoy it.

 

[FoxEye]

Renting is not normal, Its only normal in our predatory society it would once upon a time of been an alien concept. Renting for life = slavery for life. This is why the birth rate is tanking, Rental boomers are stopping average people from prospering.

It's also why people don't care any more.

People don't care about the community they live in. They don't feel invested in the area. They never put down roots.

They often aren't allowed to make any improvements or alterations even if they would like to.

And all the while the landlord takes (down here at least) 50%+ of their earnings. Most likely to pay the mortgage, which is often cheaper than the rent they charge.

Predatory is correct.

Dog eat dog is correct.

And the consequence is an entire disaffected generation. A generation who expect nothing, have no hopes or dreams, and couldn't care less about community or country.

A generation that doesn't care if the world burns. Because the world cares nothing for them.

 

[FoxEye]

Actually I don't think you should need to earn a lot of money to earn a property, and there are properties available for not a lot of money, but it comes down to compromise.

We moved out to the countryside, (because we didn't want to stay in london and couldn't afford a big house there) my commutes was 3hrs 45mins per day. I left home at 5am and got home no earlier than 7pm. I made that choice to move out of london (who wants to bring up kids in London?!), it was a sacrifice I knew I was making. I get rogered on season tickets, and rogered by train companies going on strike.. but it affords me the quality of life I want. When I'm home it's quiet, we have space, garden, and rolling fields and it's absolutely wonderful.

You need to accept compromises or else you'll go nuts. You have a choice not to work as hard as others, or earn as much (there's more to life than money, I've actually change jobs during the covid crisis and took a significant pay cut!), however you and only you can balance what is important to you in life. IF it's owning a property, do something about it, if it's earning money, do something about it, if it's both but without lifting a finger... then currently, that's not going to happen I'm afraid You've got to make your own luck sometimes, if I won 10s of millions on the lottery and had enough to not have to work, I probably would still do some work, because I enjoy it. But I'd a lot less of it. Though I'd go on more holidays, spoil myself a bit more, and enjoy it.

But ... and this is a BIG but.

If it weren't for the fact that housing is an "investment vehicle"; an "income stream"... then a lot of what you say wouldn't be the case.

The people **** this up for everyone else are the people taking more than they need.

Who, seeing the constrained supply of housing, are all the more eager to buy it up. They want to lock some other poor bugger into paying their mortgage for them.

And things are currently structured - and the housing market is just one example - to funnel money from the min wage workers to the affluent.

Hell, I bet half the people in the Motors section talking about their new Ferraris are BTL "investors".

 

[Woden]

Work somewhere else then and force the labour prices up?

It's not rocket science.

All that will do is raise prices, cost of living will go up. All you have done is raised the baseline for what is poor for no benefit.

Companies absolutely will not take the hit. Never have, never will.

 

[Energize]

Renting is not normal, Its only normal in our predatory society it would once upon a time of been an alien concept. Renting for life = slavery for life. This is why the birth rate is tanking, Rental boomers are stopping average people from prospering.

I think this is an absurd proposition. I love the flexibility of renting, means I don't have to tie myself into a mortgage and can move freely about the country.

 

[FoxEye]

I think this is an absurd proposition. I love the flexibility of renting, means I don't have to tie myself into a mortgage and can move freely about the country.

In and of itself, other countries have shown rental doesn't have to be exploitative.

This country is hell-bent on ensuring that it is. With virtually a virtually unregulated rental market (when compared to other EU countries).

 

[Rofflay]

I think this is an absurd proposition. I love the flexibility of renting, means I don't have to tie myself into a mortgage and can move freely about the country.

Well it means thiers no shelter to pass onto the kids is there? What you described is a single lifestyle. And do you not see that whatever money you paid in rent you could have had a mortgage? Later in life you could sell or pass it on to someone.

When you rent, You get no benefits at all period apart from flexibility. But mentally for me thiers a block and that block is the one where i know if renting im getting the worst deal and basically paying off someone elses mortgage.

Its crazy! If i had someone paying off a house for me that i can then later sell i would be laughing i guess. I mean he pays the mortgage and i keep it all. Hes basically wasted all his money.

 

[secretspy]

My mum and dad bought their house about 43 years ago for £11,000. I think it was valued at £365,000 a couple of years ago. Would/should be worth more once we get some of the issues sorted.

My mum was only earning I think £5 a week back then and her salary didn't count towards the mortgage. They had nothing when they moved in and had to borrow a couple of chairs. They even had to borrow the £50 solicitors fees from my grandad! Half the house didn't exist, my dad removed the fir trees and built an extension turning it into a 5 bed house from a 3, with a garage. Can't say I resent them for it though they weren't earning the salaries like you do nowadays, it took hard work and lots of savings

Apparently when my flat was first built 13 years ago it was around 180,000. It was 240,000 when I got it 2 years ago

I don't get annoyed with boomers, I get annoyed with people I know getting constant hand outs from mummy and daddy and then sitting there moaning how they only have a 1 bed flat and want a house