And boomers wonder why millennials are bitter towards them..

Soldato
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Covid-19 may send up house prices in areas where rich city dwellers want to move to during the pandemic, but other areas will be unaffected. Poor areas will get poorer due to increasing unemployment which will eventually lead to lower house prices there.

Timing the market is not that hard. I sold my previous house in mid 2007 and bought my current one in late 2009 (after house prices had dropped 20% in this area). Getting a mortgage to buy during a recession can be a problem though. Also, the boomers pulled the HMO ladder up after them. In many areas you now need planning permission to set up a HMO and the local NIMBYs hate students and poor people so that is usually impossible.

Many HMO's in Crewe were bought and developed by Eastern Europeans. I do not know if they qualify as boomers but the areas are pretty rubbish now for long term residents.
 
Associate
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Many HMO's in Crewe were bought and developed by Eastern Europeans. I do not know if they qualify as boomers but the areas are pretty rubbish now for long term residents.

Oh, yeah? Well, I've run a HMO (my own home) for 15 years and only had 2 troublesome lodgers. One was a recently divorced alcoholic truck driver who had a fist fight in the back garden with another lodger's rude visitor and the other was an arrogant Pakistani student who threatened another lodger with a kitchen knife during an argument. Both situations were swiftly resolved by me amicably. The neighbours have never had a problem with us causing noise or anti-social behaviour etc. HMO's are only as good, or bad, as their landlords. If you are in an area with a lot of neglectful landlords you are guaranteed to have problems.
 
Caporegime
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It's about securing an income long term - it's a place to put money. It's not about making a few extra quid now.
I know it's a tad absurd, but imagine oxygen/breathable air was in short supply.

The sane approach would be to ration it with no regard to whether you were rich or poor, so that everybody could breathe comfortably.

The capitalist approach is, "Air is valuable! I will invest in air, buying up as much as I can, because it is an asset that can only appreciate!" And then a bunch of people suffocate.

(Yes I know that's fairly silly - sue me :p)

Housing is something we all need to live unless we live in a shed or a camper van (not very nice). And sadly it is also an asset, a store of value, and an investment to make money. Those are competing interests, which leave those at the bottom screwed, as always.

Housing is also for various reasons entirely finite. The more people who buy it up (including overseas investors), the more expensive it becomes, the greater % of people are bled dry just to put a roof over their heads. Rent is more expensive than a mortgage in many places. And many can't get a mortgage (without extreme difficulty beyond all reasonable expectation).
 
Caporegime
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I'm just gonna leave this here

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Wow.
You cave really argue with that.

I'm amazed more boomers don't have multiple houses
 
Soldato
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Wow.
You cave really argue with that.

I'm amazed more boomers don't have multiple houses
I don't think most people thought house prices were going to shoot up in the absurd way they have. I remember driving through a small town in Wales 20+ years ago and seeing terraced houses for sale for about 10k each. No doubt they are 'worth' ten times that now.Someone probably hoovered them up and is now very comfortably off...
 
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I never asked to be born in the 70's, no central heating and no TV in each room, WALKED to school in all weather and when I did get a job on the YTS it was £29.50pw which increased to £35pw after 13weeks and then an 4yr apprenticeship and when I bought my house in 94 they were not throwing money at everyone, it was hard to get a loan for car without a guarantor (before it was all a free for all loaning to 18 year olds about year later so 2005+).

So I worked inc overtime (6-7 days for 16yrs) to get nice things paid off sooner and paid my mortgage 2 years ago so why am I a baddie?

I cannot stand 90+% of today's youth as they are wasters, if they want to get things get a job (obv this is not as easy now due to Covid but I has been going on at least a decade now).
 
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Soldato
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I never asked to be born in the 70's, no central heating and no TV in each room, WALKED to school in all weather and when I did get a job on the YTS it was £29.50pw which rised to £35pw after 13weeks and then an 4yr apprenticeship and when I bought my house in 94 they were not throwing money at everyone, it was hard to get a loan for car without a guarantor (before it was all a free for all loaning to 18 year olds about year later so 2005+).

So I worked inc overtime (7-7 days for 16yrs) to get nice things paid off sooner and paid my mortgage 2 years ago so why am I a baddie?

I cannot stand 90+% of today's youth as they are wasters, if they want to get things get a job (obv this is not as easy now due to Covid but I has been going on at least a decade now).

I'm 29 and never went to uni. At 25 I realised I'd never own really nice things or my own house, packed up my ****** call centre job and got a HGV licence, it wasn't a job I wanted to do (at the time, now I love it) but it's a hard job with good rewards. I work 60-65hrs a week and tripled my salary working in a call centre where most other young people I know ended up and still are. Now I've got a nice house, car and other things and whenever I talk to others my age you can so often feel the judgment assuming it all came from the bank of mum & dad, good paying jobs are out there just many young people don't want to do them, it's not as impossible to get on the housing ladder as people make out.
 
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I'm 29 and never went to uni. At 25 I realised I'd never own really nice things or my own house, packed up my ****** call centre job and got a HGV licence, it wasn't a job I wanted to do (at the time, now I love it) but it's a hard job with good rewards. I work 60-65hrs a week and tripled my salary working in a call centre where most other young people I know ended up and still are. Now I've got a nice house, car and other things and whenever I talk to others my age you can so often feel the judgment assuming it all came from the bank of mum & dad, good paying jobs are out there just many young people don't want to do them, it's not as impossible to get on the housing ladder as people make out.


Good for you, good hard honest graff never hurt anyone.
 
Soldato
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I never asked to be born in the 70's, no central heating and no TV in each room, WALKED to school in all weather and when I did get a job on the YTS it was £29.50pw which increased to £35pw after 13weeks and then an 4yr apprenticeship and when I bought my house in 94 they were not throwing money at everyone, it was hard to get a loan for car without a guarantor (before it was all a free for all loaning to 18 year olds about year later so 2005+).

So I worked inc overtime (6-7 days for 16yrs) to get nice things paid off sooner and paid my mortgage 2 years ago so why am I a baddie?

I cannot stand 90+% of today's youth as they are wasters, if they want to get things get a job (obv this is not as easy now due to Covid but I has been going on at least a decade now).

Thought this thread was about boomers. Your a Gen X'er
 
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Well same as we call idiots today Millennials but some are Gen Z and TBH I get mixed up with it all, my gen have similar work ethics etc to our fathers than today youth.

I am a mortgage free old ******* (and no it was not always easy). :)
 
Soldato
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Well same as we call idiots today Millennials but some are Gen Z and TBH I get mixed up with it all, my gen have similar work ethics etc to our fathers than today youth.

I am a mortgage free old ******* (and no it was not always easy). :)


Millenials will typically be defined as people born early 80s to mid 90s, so age wise they're mid 20 to late 30s these days.
 
Caporegime
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Millenials will typically be defined as people born early 80s to mid 90s, so age wise they're mid 20 to late 30s these days.

The difference between younger millennials and older ones is pretty vast due to social media. I'm closing in on 30 and grew up without social media, for the most part, as it only really started taking off towards the end of secondary school. If you're 25, then social media pretty much dominated your secondary school years, changing the way you thought about others, yourself and social norms.
 
Associate
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“The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love chatter in place of exercise. Children are now tyrants, not the servants of their households. They no longer rise when elders enter the room. They contradict their parents, chatter before company, gobble up dainties at the table, cross their legs, and tyrannize their teachers.”

- Socrates


Edit: Damn, might be apocryphal. Point stands though
 
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