Wow never realised these times were so good!

[DimPrawn]

Any proof that it's mostly boomers?

The onslaught of DIY shows on TV along with the complete lack of faith in the pension market has seen a lot of 30s/40s people investing in property as their pension fund, together with the flip trade of buying a fixer-upper, fixing it up and opting to sell or rent at the end.

Yep, my peers are in their 30's and 40's.

They have no faith in pensions, many have lost their pensions, they seem to go missing along with the pension "trustees". Pension suck, fees, govt meddling.

TV - Location, Location, Location. Homes Under the Hammer, Sarah Beeny Property Ladder. To Buy or Not to Buy. Relocation, Relocation. Escape to the Country, it goes on. Normal couple buy house, following week they are richer than the Rothchilds.

So they have turned to property, and so far, they made the right call. Not boomers, just boomed with rising prices and rents.

[PurpleGorilla]

Any proof that it's mostly boomers?

The onslaught of DIY shows on TV along with the complete lack of faith in the pension market has seen a lot of 30s/40s people investing in property as their pension fund, together with the flip trade of buying a fixer-upper, fixing it up and opting to sell or rent at the end.

The Chartered Institute of Housing:

http://www.cih.org/news-article/disp...housing_market

"The extent to which housing is driving inequality and disadvantage is laid bare by the UK Housing Review 2015, published today (Monday 9 March) by the Chartered Institute of Housing (CIH).

Levels of homeownership are collapsing among young people but increasing among older people. In England, 66.5% of 25-34 year olds were homeowners in 1991 – a figure that dropped to 36% in 2013-14. Over the same period, the percentage of 65-74 year olds that own their own home has risen from 62.3% to 77.1%."

[original PM]

The Chartered Institute of Housing:

Housing news

"The extent to which housing is driving inequality and disadvantage is laid bare by the UK Housing Review 2015, published today (Monday 9 March) by the Chartered Institute of Housing (CIH).

Levels of homeownership are collapsing among young people but increasing among older people. In England, 66.5% of 25-34 year olds were homeowners in 1991 – a figure that dropped to 36% in 2013-14. Over the same period, the percentage of 65-74 year olds that own their own home has risen from 62.3% to 77.1%."

interesting - how many 25-34 year olds back in 1991 lived with parents and saved money so they could buy a house rather than spending all their money on renting?

you are still not addressing the issue of what the 'youf' of today actually spend their money on.

[PurpleGorilla]

interesting - how many 25-34 year olds back in 1991 lived with parents and saved money so they could buy a house rather than spending all their money on renting?

you are still not addressing the issue of what the 'youf' of today actually spend their money on.

In 1991 house were cheap.



Under 30's spend their money mainly on transport and housing (table 6.7);

http://www.ons.gov.uk/ons/rel/social...re-chapter.pdf

[PurpleGorilla]

"Rising house prices mean that net housing wealth in the UK has grown by £1.22 trillion (58 per cent) since 2003 – and more than a third of property-based wealth is held by households where the household reference person is 65 or older. This increase in wealth for older people has fuelled the growth of the buy-to-let market – with older households looking to supplement their pension income by buying more property, aided by access to interest-only mortgages which are denied to most first-time buyers.

This is creating a perfect storm, with older and already privileged homeowners buying more homes to rent out to those who are unable to compete in the housing market. In 2013-14 almost half (48%) of all households aged 25-34 in England were living in private rented homes – a proportion that has more than doubled from 21% in 2003-4. The trend looks set to continue, with some 1.5 million extra people aged 30 or under ‘pushed into renting’ by 2020."

http://www.cih.org/news-article/disp...housing_market

[DimPrawn]

"Rising house prices mean that net housing wealth in the UK has grown by £1.22 trillion (58 per cent) since 2003 – and more than a third of property-based wealth is held by households where the household reference person is 65 or older. This increase in wealth for older people has fuelled the growth of the buy-to-let market – with older households looking to supplement their pension income by buying more property, aided by access to interest-only mortgages which are denied to most first-time buyers.

This is creating a perfect storm, with older and already privileged homeowners buying more homes to rent out to those who are unable to compete in the housing market. In 2013-14 almost half (48%) of all households aged 25-34 in England were living in private rented homes – a proportion that has more than doubled from 21% in 2003-4. The trend looks set to continue, with some 1.5 million extra people aged 30 or under ‘pushed into renting’ by 2020."

Okay, that's settled it for me after reading that.

More BTL property for me.

[PurpleGorilla]

More BTL property for me.

I though your ex-wife had all your money?

[Joe Black]

I agree population increases is pushing on demand. But so are Chinese investors buying in London (and letting the property sit empty).

No to BTL.

No to foreign investors.

Chinese/foreign investors buying up London? What makes you think that?

As you can see, with some of the newest developments, the locals come first:

[PurpleGorilla]

Nice spot JB.

Truth is, the only thing keeping UK growth at or just above zero is HPI.

The politicians (mostly owners of multiple properties) benefit from a 'growing' economy, and their city mates and the '1%ers' are kept happy. Hell I think immigration is also kept loose, as well as foreign investment kept unchecked to keep the bubble inflated.

Seriously - when this puppy pops it's going to be epic [emoji41]

http://www.economicshelp.org/images/...nominal-67.jpg

[DimPrawn]

Nice spot JB.

Truth is, the only thing keeping UK growth at or just above zero is HPI.

The politicians (mostly owners of multiple properties) benefit from a 'growing' economy, and their city mates and the '1%ers' are kept happy. Hell I think immigration is also kept loose, as well as foreign investment kept unchecked to keep the bubble inflated.

Seriously - when this puppy pops it's going to be epic [emoji41]

http://www.economicshelp.org/images/...nominal-67.jpg

Looks like a graph of my bank account. The small dip was the divorce.