oh dear (tm): Generation rent: the housing ladder starts to collapse for the under-40

[SpontaneousOrder]

No, the property owns you.

I am not in Soviet Russia

[shaunbhoy]

Some of the reasons there are such vast differences between the outlook of the Baby Boomers and the Facebook Generation

SCHOOL-
1945 vs. 2014

Scenario :
Johnny and Mark get into a fight after school.

1945 - Crowd gathers. Mark wins. Johnny and Mark shake hands and end up best friends.

2014 - Police called, and they arrest Johnny and Mark. Charge them with assault, both expelled even though Johnny started it. Both children go to anger management programmes for 3 months. School governors hold meeting to implement bullying prevention programmes.

Scenario :
Robbie won't be still in class, disrupts other students.

1945 - Robbie sent to the office and given six of the best by the Headmaster. Returns to class, sits still and does not disrupt class again.

2014 - Robbie given huge doses of Ritalin. Becomes a zombie. Tested for ADHD - result deemed to be positive. Robbie's parents get fortnightly disability payments and school gets extra funding from government because Robbie has a disability.

Scenario :
Billy breaks a window in his neighbour's car and his Dad gives him a whipping with his belt.

1945 - Billy is more careful next time, grows up normal, goes to college, and becomes a successful businessman.

2014 - Billy's dad is arrested for child abuse. Billy removed to foster care; joins a gang; ends up in jail.

Scenario :
Mark gets a headache and takes some aspirin to school.

1945 - Mark gets glass of water from teacher to take aspirin with. Passes exams, becomes a solicitor.

2014- Police called, car searched for drugs and weapons. Mark expelled from school for drug taking. Ends up as a drop out.

Scenario :
Johnny takes apart leftover fireworks from Bonfire Night, puts them in a paint tin & blows up a wasp's nest.

1945 - Wasps die.

2014- Police & Anti-Terrorism Squad called. Johnny charged with domestic terrorism, investigate parents, siblings removed from home, computers confiscated. Johnny's Dad goes on a terror watch list and is never allowed to fly in an airplane again.

Scenario :
Johnny falls over while running during morning break and scrapes his knee. He is found crying by his teacher, Mary. She hugs him to comfort him.

1945 - In a short time, Johnny feels better and goes on playing football. No damage done.

2014 - Mary is accused of being a sexual predator and loses her job. She faces 3 years in prison. Johnny undergoes 5 years of therapy and ends up gay.

[AtW]

I am not in Soviet Russia

In Soviet Russia ze Govt owns your property.

[SpontaneousOrder]

In Soviet Russia ze Govt owns your property.

In Soviet Russia, Wally finds you!

[AtW]

In Soviet Russia, KGB finds you!

FTFY

[Goatfell]

If the housing market was left to self-correct then it would naturally stagnate until FTBs can afford to get on the housing ladder. Without them buying the studios and 1 beds, young families won't be able to move to bigger homes and the effect will ripple through the market until prices become affordable again. Thet's never going to happen though, in a few years time all the Generation Rent types will have inherited their deceased Boomer parent's homes - then watch their attitude to house prices reverse so quickly their eyeballs will rattle.

[shaunbhoy]

in a few years time all the Generation Rent types will have inherited their deceased Boomer parent's homes - then watch their attitude to house prices reverse so quickly their eyeballs will rattle.

Exactly!!

[original PM]

Exactly!!

MF lol exactly they will bitch and cry about everything they do not have until it is given to them then they will pretend they have worked hard to get it.

Generation y

More like generation tw@

[DieScum]

then watch their attitude to house prices reverse so quickly their eyeballs will rattle.

Ha ha. This is me, I bought last year at the grand old age of 36. Always rented before. Thought everything was overpriced and wanted the flexibility.

I live in Sydney and house prices are bananas. Bought a 4 bed near the city with a price tag to match. By all accounts house prices have risen 25% in the last year in Sydney. It's just an insane amount of money, completely unfair, but I'm breathing a huge sigh of relief to be actually on the ladder.

If you're not a high earner or have large sums gifted to you then you're bumped.

[AtW]

I live in Sydney and house prices are bananas. Bought a 4 bed near the city with a price tag to match. By all accounts house prices have risen 25% in the last year in Sydney. It's just an insane amount of money, completely unfair, but I'm breathing a huge sigh of relief to be actually on the ladder.

Well done mate.

You've just bought at the time when main Australian exports are falling in price big time and that would inevitably cause real estate crash.