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And boomers wonder why millennials are bitter towards them..

Discussion in 'General Discussion' started by Scam, 18 Sep 2020.

  1. Freefaller

    Man of Honour

    Joined: 5 Jun 2003

    Posts: 87,192

    Location: Falling...

    This so much. I met some cool people house sharing, and some horrendous people. But I saved a lot of money despite it being London. Wasn't the best time of my life, but it was worth it.
     
  2. Roar87

    Soldato

    Joined: 10 May 2012

    Posts: 7,192

    Location: Leeds

    There isn't enough space for everyone to live within a comfortable commuting distance of central London, house prices reflect this. If you'd like to own a house there are plenty of affordable houses within commuter distance of other major cities that aren't London, you'll probably also end up having more money left over at the end of each month even on a lower wage.
     
  3. MikeTheNative

    Sgarrista

    Joined: 17 Jun 2012

    Posts: 8,654

    Location: South Wales

    Well it would help if house builders built actual 'affordable homes' and not all detached 3/4 beds that go well over the local area average.
     
  4. SPG

    Soldato

    Joined: 28 Jul 2010

    Posts: 7,193

    No, but its stinks of truth :)
     
  5. Greebo

    Caporegime

    Joined: 20 Jan 2005

    Posts: 39,302

    Location: Co Durham

    I am one of the lucky ones and gained from the market. Bought our house in 1999 for £95k and current value is £550-£600k so not a bad gain for 21 years since we are "up North"

    I feel sorry for anybody trying to get on the housing market these days,
     
  6. adolf hamster

    Sgarrista

    Joined: 18 Oct 2012

    Posts: 7,821

    Until the partner that identifies as female gets the house in the divorce settlement....
     
  7. Haggisman

    Capodecina

    Joined: 6 Oct 2004

    Posts: 14,027

    Location: Birmingham

    This is somewhat misleading. Sure they may be paying more in rent than they would on a mortgage, but they also don't have to worry about paying for maintenance, and potentially having to fork out 4+ figures on short notice if the boiler fails or the roof blows off. Something to be factored into those "savings". They also don't have the risk that the house drops in value, leaving them in negative equity.

    That sounds suspiciously like my experiences growing up in Glasgow as well.

    There was always that moment of terror when someone asked you "do you support Rangers or Celtic?"... :p
     
  8. DrToffnar

    Mobster

    Joined: 25 Jan 2013

    Posts: 3,525

    I think the labelling of your statement is a little unfair, though having said that I am incredibly bored of the older people in my workplace insisting I learn to drive to make things 'easier'. I think a lot of people of that age forget that those of us working near minimum wage don't really have that choice. You either pay rent or you get a vehicle. I don't earn enough to have a choice in that regard. Similarly the same with regards a mortgage, it just isn't an option. Even if me and my GF put together for it, we'd still have to sacrifice a great deal to be able to do it. I used to be bitter about it all, but now it's just a thing that I've accepted. Chances are I will never be able to live comfortably enough to own a house.
     
  9. BongoHunter

    Wise Guy

    Joined: 14 Apr 2014

    Posts: 2,345

    Location: West London

    I think that you just have to do everything you can and make a lot of sacrifices to get on the ladder these days, as well as being more patient. And be prepared for it to take even longer if you have no flex on location.

    Worth it though

    Edit: not saying its possible for everyone - E.G if you doing a 40 hour week on minimum wage in London then forget it (and what the hell are you doing!)
     
  10. Scam

    Capodecina

    Joined: 20 Oct 2002

    Posts: 14,241

    Location: London

    Travelling this week so can't keep up. Sorry chaps.

    This point could have had it's own thread on why millennials are bitter. It's not just the fact that houses are astronomically expensive, but the boomers actively expect you to pay off their second/third mortgage to ensure they can live in the lap of luxury (being retired at 55 obviously), whilst nullifying your chances of saving that extortionate deposit because it's all going on rent.

    Take your average hobbyist BTL landlords out of the equation and we wouldn't have had astronomical price inflation, and people could save a deposit within a year or few.

    Except there's massive supply of poor quality rentals, yet consistently high rents. Why is that? (Don't reply, I know the answer).

    Roughly £20k per year is decent for a £95k outlay (I'm sure your deposit was a small percentage of that anyway). Now can you keep posting this every 5 posts or so? Because apparently London is the problem and this doesn't happen anywhere else :o ;)

    (Sidenote, the Manctopia documentary on TV recently was quite interesting. People flogging £1m luxury apartments to who the heck knows whilst displacing thousands of low earners. It's ok, it only happens in the South!)

    Also, for those in denial that house prices are not artificially inflated above all normal sense of the word.. this is interesting (and old now) https://england.shelter.org.uk/prof...ibrary/policy_library_folder/food_for_thought

     
  11. GIBURROWS

    Mobster

    Joined: 13 Jan 2010

    Posts: 3,566

    Location: The 'Shire'

    Always say Rangers, anything else is just plain wrong!
     
  12. Psycho Sonny

    Caporegime

    Joined: 21 Jun 2006

    Posts: 36,125

    I actually went to a Catholic school. St Catherine's. So only one choice for me. I think we had 2 rangers fans in the whole school. They got a real hard time.

    One point during the summer holidays a guy in my class and his older brother who had been expelled previously burnt down half the school.

    So during the what is it 2-3 months summer holidays we got another 2-3 months off whilst they rebuilt the school. I had just come back from abroad as well and thought I was going back to school and then I found that out. Result.

    Bare in mind this is primary school. Kids were mental when I think about it. Even had a guy in ma class who smacked a teacher once.
     
  13. DrToffnar

    Mobster

    Joined: 25 Jan 2013

    Posts: 3,525

    Yeah of course. I thin it's always required a great deal of sacrifice, even back when the markets where more agreeable. But we literally wouldn't be able to do anything but eat relatively poorly and pay the rent. What it ultimately came down to however was either getting on the ladder in a crumby area with bad schools where we didn't want to be or renting in a decent one in a good catchment area. We chose the latter ultimately. Maybe we'll climb the financial ladder a little over the next few years and be in a better positon (she's a midwife and I work in Admin, both for the NHS), but I doubt it. The NHS is being exceptionally frugal with it's employees these days and I can't see that changing any time soon...
     
  14. Diddums

    Capodecina

    Joined: 24 Oct 2012

    Posts: 20,581

    Location: London

    Nah, they both suck.


    You may need a hard-man from a rough primary school with you when making this kind of statement however.
     
  15. Eurofighter

    Wise Guy

    Joined: 20 Mar 2014

    Posts: 1,962

    How much better are houses now than then though and how much nicer are the surrounding areas. Those items of food are more or less identical..also .. travelling la di da.
     
  16. Justintime

    Sgarrista

    Joined: 24 Jul 2006

    Posts: 8,869

    Location: Edmonton, London, UK

    Bought a one bed flat in Edmonton for 118k in 2012, sold now for 195k, bought a 3 bed house in Hoddesdon with 44ft back garden for 295k with proceeds from flat, mum gave me 100k and wife got a 100k mortgage as i'm self employed, couldn't afford anything in London really that wasn't a 2 bed. Parents bought a 2 bed near the stadium for 169k in 2002, worth about 500k now.
     
  17. MikeTheNative

    Sgarrista

    Joined: 17 Jun 2012

    Posts: 8,654

    Location: South Wales

    Your typical new build(not all are bad) is pretty poor standard. I would rather live in a 70s council house made from bricks than a new Barratt house made from plaster and sealant!
     
  18. Justintime

    Sgarrista

    Joined: 24 Jul 2006

    Posts: 8,869

    Location: Edmonton, London, UK

    Agreed, my flat was a 1989 build. That single bedroom can hold a super king, bedside tables, chest of drawers on each side and has a built in 4 door closet and boiler room. Living room is massive and walls and floors are concrete and insulated. Alot of newer places i saw were like sardine tins with tin walls.
     
  19. Haggisman

    Capodecina

    Joined: 6 Oct 2004

    Posts: 14,027

    Location: Birmingham

    Sounds about right. In one of my (many :p) playground scuffles, some kid actually pulled a 2x4 off some nearby building work and handed it to me to hit the other kid with. "Good times" eh?
     
  20. Usher

    Mobster

    Joined: 30 Dec 2004

    Posts: 3,358

    Your still blaming pensioners for being greedy landlords then? do you even know what a so called boomer is ? clearly not so I'll explain it to you, it's someone born right after WW2 ended and they will all be aged over 70.

    Have you watched the landlords who appear on TV programmes such "don't pay we'll take it away, ?? homes under the hammer etc ?? are they all pensioners or even just a few of them?? no they are nearly all young and in many cases foreigners so stop spouting rubbish and realise that in many cases it's your own generation cashing in on the rest of you.