Under 45? Oh dear!

[LucidDementia]

Thanks for that.

I look after my family very well, and my wider family when times have been tough and they have needed help and support. My kids have trusts setup and will get all the help I can give them.

You're supposed to be teaching them how easy life is and that buying a house will be a doddle you fool.

[SueEllen]

@Purplegorilla it was a general "you" not you personally. If you are mean to people then people won't go out of their way to help you when you need it or even just see you.

[PurpleGorilla]

You're supposed to be teaching them how easy life is and that buying a house will be a doddle you fool.

Indeed!

[PurpleGorilla]

@Purplegorilla it was a general "you" not you personally. If you are mean to people then people won't go out of their way to help you when you need it or even just see you.

OK, just sounded like a personal dig?!?

Hugs & kisses

PG

[original PM]

So you didn't get the "we got no help, so you will get no help" talk then?

No what we are saying is that the older people who generally hold the more important positions (and so earn more money and so can afford the 500k house) had to overcome a number of hurdles on their own and what they learnt doing that helped them in later life....

Think about it - if every time you have a problem you ask some one to fix it for you (that person will have to be older than you obviously), then you will never learn how to fix the problem - then when you are older - who will the youngsters turn to?

You possibly do not see this but I see a huge problem coming where by the entitled muppets who have been spoon fed are suddenly supposed to be running the country - and they will have absolutely no clue what to do because they have to stand on their own two feet without fookin bitching about it!

[PurpleGorilla]

No what we are saying is that the older people who generally hold the more important positions (and so earn more money and so can afford the 500k house) had to overcome a number of hurdles on their own and what they learnt doing that helped them in later life....

Think about it - if every time you have a problem you ask some one to fix it for you (that person will have to be older than you obviously), then you will never learn how to fix the problem - then when you are older - who will the youngsters turn to?

You possibly do not see this but I see a huge problem coming where by the entitled muppets who have been spoon fed are suddenly supposed to be running the country - and they will have absolutely no clue what to do because they have to stand on their own two feet without fookin bitching about it!

So its up to young people to fix the ****ed up economy, and fix the ****ed up polluted climate, and fix the ****ed up housing market, and fix the ****ed up care system.

All of which has been ****ed up by your generation?

I see a huge problem too. It's the huge problem left by your generation!

[BlasterBates]

By this logic houses have always been as expensive (relatively), and that, is arse.

OK lets look at the facts shall we:

From your graph
1990 price/earnings 4.5, 2009 price/earnings 5.2

Interest rates

1990 15%, 2009 4.74%

Lets just assume average earnings of 30,000 OK

Price in 1990 = 138,000 Price in 2009 = 156,000

yearly interest payment in 1990 = 20 grand
yearly interest payment in 2009 = 8 grand

[SueEllen]

So its up to young people to fix the ****ed up economy, and fix the ****ed up polluted climate, and fix the ****ed up housing market, and fix the ****ed up care system.

All of which has been ****ed up by your generation?

I see a huge problem too. It's the huge problem left by your generation!

Nope.

It is up to you to help shape the world.

Remember we are only hearing from the rich old people. The poorer ones don't have access to technology or the skills to use them. They also don't live in 500k houses.

[ChimpMaster]

No what we are saying is that the older people who generally hold the more important positions (and so earn more money and so can afford the 500k house) had to overcome a number of hurdles on their own and what they learnt doing that helped them in later life....<snip>

Depends what you mean by "older". I'm not sure I see the point of being 55 and having the "dream" of buying a £500k house finally realized.

I think you've got to be a little more ambitious than that

[PurpleGorilla]

OK lets look at the facts shall we:

From your graph
1990 price/earnings 4.5, 2009 price/earnings 5.2

Interest rates

1990 15%, 2009 4.74%

Lets just assume average earnings of 30,000 OK

Price in 1990 = 138,000 Price in 2009 = 156,000

yearly interest payment in 1990 = 20 grand
yearly interest payment in 2009 = 8 grand

I hear your argument, but you are using 1990 as an extreme to try and strengthen your argument. Comparing it to the 2009 crash is a poor comparison IMHO.





Rates before 1990 were still higher than today, but so was inflation, and so was the interest you got on your savings. It is all relative, which is why the price-earnings chart is important to look at. And that shows housing compared with wages is higher today.

In fairness, this chart is probably the most useful one, which shows mortgage costs falling but deposits rising over time. So if you are lucky enough to get BOMAD help with a deposit, happy days. But if, like me, you are saving without help (my ISA pays 1.1%) you have a mountain to climb.



This has a different timeline, shame it doesn't go beyond 2010.