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The impact of COVID measures on intergenerational fairness.

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Domh245

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(3) New lockdown in England, including school closures, announced by Johnson, 4/1/21 | RailUK Forums (railforums.co.uk)

Then we will all be looking at the Boomer element cheerleading on lockdowns....

Oh no, it'd be wrong to tax the boomers whose benefit this has all been for. We're all in this together apart from the boomers who'd have died if we did nothing, been amongst the least badly affected by the restrictions, and look set to benefit from their vulnerability by enjoying freedoms afforded by vaccines well before anyone else.

No quite clearly we need a flat rate tax on everyone, and perhaps a levy on anyone who is renting or looking to buy a first time home for having the cheek to be young
 
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takno

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Oh no, it'd be wrong to tax the boomers whose benefit this has all been for. We're all in this together apart from the boomers who'd have died if we did nothing, been amongst the least badly affected by the restrictions, and look set to benefit from their vulnerability by enjoying freedoms afforded by vaccines well before anyone else.

No quite clearly we need a flat rate tax on everyone, and perhaps a levy on anyone who is renting or looking to buy a first time home for having the cheek to be young
The only thing I'd offer against that is that parents have been absolutely against the restrictions from day one, have been largely stuck indoors without work as a distraction, and continue to be horrified by what's being done to young people in their name.

No argument that this is being done in their name, but as often as not it's being done to them as well, and a lot good subservient Guardian-reading youngsters are amongst the people doing it, because they think it shows they care, or often because they wrongly believe they are at meaningful risk themselves.

Not that that stops the economic logic, where bursting the house price bubble was probably essential for sorting our broken economy before we started this, and becomes even more so now.

Inheritance tax really needs sorting before anything else
 

DB

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Not that that stops the economic logic, where bursting the house price bubble was probably essential for sorting our broken economy before we started this, and becomes even more so now.

I agree, but bet that doesn't happen - our economy is now so reliant on selling ever-more-overpriced houses to each other that if this collapsed it would have a major effect, particularly on the BTL classes (who are over-represented among MPs of all parties). The government (whoever it is) will also be afraid of the Daily Mail screaming about the government 'ruining house prices'.

So basically, if it looks like the bubble might burst they will come up with a system to keep it inflating, as they did a decade ago with help to buy.
 

ExRes

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I really don't know what's wrong with some of you people, I am a 'baby boomer', what an idiotic title, I have asked for nothing to be done in my name, my wife has asked for nothing to be done in her name, nobody of that generation known to me has asked for anything to be done in their name, the Government has made the choices, them and nobody else, so why not stop insulting and denigrating an age group for the decisions someone else is making, don't forget the bottom line, you are all getting older every day and you're doing nothing other than inviting those younger than yourselves to foster the same hate as you're showing

As for the NHS, my daughter is a qualified Staff Nurse and was, once again, told last weekend that she was not required for duty in a major non covid trauma hospital with less than 10% of beds occupied, NHS under pressure, don't make me laugh
 

roversfan2001

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I really don't know what's wrong with some of you people, I am a 'baby boomer', what an idiotic title, I have asked for nothing to be done in my name, my wife has asked for nothing to be done in her name, nobody of that generation known to me has asked for anything to be done in their name, the Government has made the choices, them and nobody else, so why not stop insulting and denigrating an age group for the decisions someone else is making, don't forget the bottom line, you are all getting older every day and you're doing nothing other than inviting those younger than yourselves to foster the same hate as you're showing
There are, however, a lot of people of your generation who appear to think everyone else 'owes' them something and everyone else should put their lives on hold.

The ever growing young/old divide isn't the fault of the young who have spent years watching various ladders get kicked away by those older than them.
 

Simon11

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I really don't know what's wrong with some of you people, I am a 'baby boomer', what an idiotic title, I have asked for nothing to be done in my name, my wife has asked for nothing to be done in her name, nobody of that generation known to me has asked for anything to be done in their name, the Government has made the choices, them and nobody else, so why not stop insulting and denigrating an age group for the decisions someone else is making, don't forget the bottom line, you are all getting older every day and you're doing nothing other than inviting those younger than yourselves to foster the same hate as you're showing

You may not have had a chance to influence or make a change, but you may have benefited? In a 'general' term, as not every baby boomer will have benefited, you are likely to get the best pension rates in all of our lifetimes (all the better schemes are now closed), have the most amount of years to enjoy the pension (our pension age is increasing) and if lucky to have purchased a house, you are very wealthy now (making it hard for a young person to get a small flat). On the last point, I spoke to someone who purchased their house for 27,000 pounds 50 years back and it is now worth over 900k+ for doing nothing but lucky to be a home owner.

Then with covid, as a 30 year old, I had covid and it was just a one week of some discomfort but I still worked from home as normal. However, due to lockdowns and restrictions, I have pretty much given up a whole year to covid to support the vulnerable & older generation. As a reward, I expect taxes to increase as our generation will have to pay for this!
 

duncanp

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I really don't know what's wrong with some of you people, I am a 'baby boomer', what an idiotic title, I have asked for nothing to be done in my name, my wife has asked for nothing to be done in her name, nobody of that generation known to me has asked for anything to be done in their name, the Government has made the choices, them and nobody else, so why not stop insulting and denigrating an age group for the decisions someone else is making, don't forget the bottom line, you are all getting older every day and you're doing nothing other than inviting those younger than yourselves to foster the same hate as you're showing

As for the NHS, my daughter is a qualified Staff Nurse and was, once again, told last weekend that she was not required for duty in a major non covid trauma hospital with less than 10% of beds occupied, NHS under pressure, don't make me laugh

Couldn't agree more with this. I am a so called "boomer" (born 1963)and I have not asked for any of the anti COVID measures to be put in place, or to be maintained for so long. It is a false generalisation to say that all of us "boomers" are in favour of extending lockdown, to the detriment of younger people.

You may not have had a chance to influence or make a change, but you may have benefited? In a 'general' term, as not every baby boomer will have benefited, you are likely to get the best pension rates in all of our lifetimes (all the better schemes are now closed), have the most amount of years to enjoy the pension (our pension age is increasing) and if lucky to have purchased a house, you are very wealthy now (making it hard for a young person to get a small flat). On the last point, I spoke to someone who purchased their house for 27,000 pounds 50 years back and it is now worth over 900k+ for doing nothing but lucky to be a home owner.

Then with covid, as a 30 year old, I had covid and it was just a one week of some discomfort but I still worked from home as normal. However, due to lockdowns and restrictions, I have pretty much given up a whole year to covid to support the vulnerable & older generation. As a reward, I expect taxes to increase as our generation will have to pay for this!


  • The pension age is increasing because people are living longer. If we don't take action now, the state pension will become unaffordable, and it will be today's younger generation who have to suffer the consequences of this when they reach middle age and pension age. For the record, my state pension age has been increased twice, from 65 to 66, and again from 66 to 67.
  • For most of my working life, I paid into a defined contribution pension scheme, not a final salary scheme, and have had to accept the risks that this involves.
  • House prices may be very high now, but interest rates are extremely low. When I bought a flat in London in 1991, the interest rate was 15% and the mortgage repayments took care of nearly 40% of my take home pay. One of the beneficial effects of the COVID pandemic is that the housing bubble will burst (ie house prices and rents are likely to fall) and this is likely to benefit younger people looking to get on the housing ladder. You quote the example of a house being "worth" £900,000. Any house is only worth what someone is willing to pay for it, as some people are about to find out.
  • If taxes rise to pay for the costs of the pandemic, then all generations will have to shoulder the burden to some extent. Although now retired, I still pay tax, and will be adversely affected if the personal allowance is not raised in the budget, as has been forecast. I would also have no objection to the triple lock on the state pension being either abolished or reduced, nor would I object to having to pay a contribution to my disabled persons bus pass
I am not looking for any sympathy with these examples. I am just quoting them so that people realise that not all us "boomers" have had, or continue to have, an easy life.
 

DB

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Couldn't agree more with this. I am a so called "boomer" (born 1963)and I have not asked for any of the anti COVID measures to be put in place, or to be maintained for so long. It is a false generalisation to say that all of us "boomers" are in favour of extending lockdown, to the detriment of younger people.

Of course that's true - but while it's certainly not the case that everyone in that age bracket has benefitted from or is in favour of these restrictions, it is also true that a large number of people in that bracket have been least inconvenienced by these measures, and it's also the case that the measures prioritise them above younger groups.

The reason is not hard to see - these are, as a general rule, people who tend to vote, and they tend to vote Conservative.

The reason for Labour, the Guardian, etc supporting measures designed to benefit this demographic is less clear, but probably down to them wanting to be seen as socially responsble - and the harms caused by the policies are less clearly visible and in many cases slower to emerge so they can ignore them for now.
 

Spamcan81

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Of course that's true - but while it's certainly not the case that everyone in that age bracket has benefitted from or is in favour of these restrictions, it is also true that a large number of people in that bracket have been least inconvenienced by these measures, and it's also the case that the measures prioritise them above younger groups.

The reason is not hard to see - these are, as a general rule, people who tend to vote, and they tend to vote Conservative.

The reason for Labour, the Guardian, etc supporting measures designed to benefit this demographic is less clear, but probably down to them wanting to be seen as socially responsble - and the harms caused by the policies are less clearly visible and in many cases slower to emerge so they can ignore them for now.
But a large number of boomers have died a number of years before their time. I cannot believe the hatred some show here for the older generation. Do they not have parents and grand parents of their own?
 

yorksrob

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I've said it before and I'll say it again. I think the whole "war of the generations" thing is massively overdone. There are plenty of older people who have no intention of submitting to permanent lockdown or imposing it on every one else. This has more to do with a weak government being poorly advised and egged on by an hysterical media.
 

roversfan2001

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But a large number of boomers have died a number of years before their time. I cannot believe the hatred some show here for the older generation. Do they not have parents and grand parents of their own?
The average age of a COVID death is above the average life expectancy so the 'died before their time' argument doesn't hold too much weight.

A lot of posters will have parents and grandparents who fit into the 'boomer' bracket - we are just able to see the bigger picture, unlike the 'but granny might die' brigade who struggle to accurately process risk.

In the interests of balance; there are elderly people who don't want these restrictions either, they know they don't have long left on this planet and don't want to spend the rest of their days cooped up.
 

takno

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But a large number of boomers have died a number of years before their time. I cannot believe the hatred some show here for the older generation. Do they not have parents and grand parents of their own?
Weirdly most of the people dying aren't boomers anyway. It's the remnants of the interwar generations that are dying in the greatest numbers, particularly proportionally. The boomer-hatred is a wider problem though for a younger generation - they are seen as the people who created the current situation, as the people who became so squeamish about death that we all have to overreact, as the people who created the housing bubble and now fight to retain it, as the people who granny-farmed their own grandparents into destitution and then set themselves up with a nice triple lock and defined-benefit pensions. And then, as an act of total spite on the way out the door they voted to take us out of the EU that their parents so wisely had us join, and spiked the economy forever after they are gone.

I know it's not not true of everybody in the group, and it's certainly not true of my parents, but it's not difficult to buy into the narrative that the generation that enthusiastically brought us Thatcher is still spiteful and self-centred to the very end.
 

HSTEd

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But a large number of boomers have died a number of years before their time. I cannot believe the hatred some show here for the older generation. Do they not have parents and grand parents of their own?

So I am required to sacrifice myself for the benefit of a generation that has repeatedly shown it is not willing to do the same for me, just because my parents happen to be members of it?
 
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Richard Scott

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So I am required to sacrifice myself for the benefit of a generation that has repeatedly shown it is not willing to do the same for me, just because my parents happen to be members of it?
I think the big issue is the middle aged people who see their actions to protect the older generation as doing their bit and can't see wood for the trees. They also seem to be the ones most likely to hide behind the sofa, moan at everyone else for not following the rules and some enjoying the work from home or furlough. Most of the older people I know are thoroughly fed up and just want to get on with what life they may have left. I know of some who are questioning the vaccine program saying it should be those of working age first so that country can open up (just to say that this isn't my opinion being expressed here).
 

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Weirdly most of the people dying aren't boomers anyway. It's the remnants of the interwar generations that are dying in the greatest numbers, particularly proportionally. The boomer-hatred is a wider problem though for a younger generation - they are seen as the people who created the current situation, as the people who became so squeamish about death that we all have to overreact, as the people who created the housing bubble and now fight to retain it, as the people who granny-farmed their own grandparents into destitution and then set themselves up with a nice triple lock and defined-benefit pensions. And then, as an act of total spite on the way out the door they voted to take us out of the EU that their parents so wisely had us join, and spiked the economy forever after they are gone.

I know it's not not true of everybody in the group, and it's certainly not true of my parents, but it's not difficult to buy into the narrative that the generation that enthusiastically brought us Thatcher is still spiteful and self-centred to the very end.

It's good to see that the 'spiteful and self-centred' nature is still alive and well and will continue to be so
 

DorkingMain

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So I am required to sacrifice myself for the benefit of a generation that has repeatedly shown it is not willing to do the same for me, just because my parents happen to be members of it?
I don't think the "age-baiting" element of this lockdown discussion is particularly helpful, and I say this as a "millennial".

However there are a few things to consider:

- If there was a disease that mainly affected young people, and didn't harm older people, do you think the older generation would be happy with restrictions that affected their lifestyle severely?

- Further to the point above - there's been a lot of winners in this lockdown situation and unfortunately most of them are middle-aged. The working from home / furlough situation has been brilliant for some people, and a lot of them are the cheerleaders for keeping lockdown going forever.

- Some of the "boomer" generation have been barely affected by this crisis, and I don't think they realise the extent of the damage it's doing. The working from home middle-classes are the same.

- Some of the "boomer" generation have been affected horrendously - those who live on their own and rely on the company of other people, communities like churches, and those who are in care homes or have friends who are in care homes. The whole ban on care home visits has been quite frankly been absolutely dreadful.

- I think the impact of young people going to raves or having parties has been MASSIVELY overstated, and is a red herring to try and cover up some of the huge mismanagement elements to this crisis. I wonder how many old people have met up in a large group during this that we don't hear about.

All of the above has fed into the old vs young argument I feel.

It's good to see that the 'spiteful and self-centred' nature is still alive and well and will continue to be so
The last decade or so has been a constant stream of spiteful and self-centred rhetoric, and a lot of it comes from young people who don't think they're getting a good deal, and older people who don't feel they should have to make sacrifices.

Society has reached a very unpleasant intergenerational standoff where both sides think the other is being unfair and entitled
 
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bramling

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We've managed to spend more than double, possibly as much as treble the annual NHS budget on restriction measures in less than 12 months. Hopefully soon enough elements of the media will reawaken from their slumber to pick up on this, especially when the cost starts to creep into their lives. Then we will all be looking at the Boomer element cheerleading on lockdowns....

One wonders if the Boomers may have shot themselves in the foot with all this, as money that might have more wisely gone to the NHS has now been busted on furlough. Don’t expect me (30s) to happily make up the shortfall in public spending that is now inevitable over the next few years. Perhaps a Boomer Tax is now something to consider?!
 

MikeWM

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I don't think the "age-baiting" element of this lockdown discussion is particularly helpful, and I say this as a "millennial".

I'm 'Generation X' (apparently - I think these divisions are a bit silly really), and I agree entirely. We shouldn't be going along with 'divide and rule' in any direction, we're doing the job of the bad guys for them if we misdirect our frustration and anger.

Society has reached a very unpleasant intergenerational standoff where both sides think the other is being unfair and entitled

We've passed the point where each successive generation expects a better life than the preceding. That has been, in many respects, the key political issue of our times.

There is an issue with intergenerational fairness, and in my opinion the young are quite reasonable in pointing out that their elders used all the advantages offered them in the post-war era, and then the politicians pulled up the ladders behind them. (Secure jobs, affordable housing, reasonable pensions, free university tuition, a proper safety net welfare state, etc. etc. etc.)

That's not really anything to do with a virus though, and we all need to fight together on this before trying to sort out the rest.
 

duncanp

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Weirdly most of the people dying aren't boomers anyway. It's the remnants of the interwar generations that are dying in the greatest numbers, particularly proportionally. The boomer-hatred is a wider problem though for a younger generation - they are seen as the people who created the current situation, as the people who became so squeamish about death that we all have to overreact, as the people who created the housing bubble and now fight to retain it, as the people who granny-farmed their own grandparents into destitution and then set themselves up with a nice triple lock and defined-benefit pensions. And then, as an act of total spite on the way out the door they voted to take us out of the EU that their parents so wisely had us join, and spiked the economy forever after they are gone.

I know it's not not true of everybody in the group, and it's certainly not true of my parents, but it's not difficult to buy into the narrative that the generation that enthusiastically brought us Thatcher is still spiteful and self-centred to the very end.

This post is full of spite, generalisations and inaccuracies.
 

takno

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I don't think the "age-baiting" element of this lockdown discussion is particularly helpful, and I say this as a "millennial".

However there are a few things to consider:

- If there was a disease that mainly affected young people, and didn't harm older people, do you think the older generation would be happy with restrictions that affected their lifestyle severely?

- Further to the point above - there's been a lot of winners in this lockdown situation and unfortunately most of them are middle-aged. The working from home / furlough situation has been brilliant for some people, and a lot of them are the cheerleaders for keeping lockdown going forever.

- Some of the "boomer" generation have been barely affected by this crisis, and I don't think they realise the extent of the damage it's doing. The working from home middle-classes are the same.

- Some of the "boomer" generation have been affected horrendously - those who live on their own and rely on the company of other people, communities like churches, and those who are in care homes or have friends who are in care homes. The whole ban on care home visits has been quite frankly been absolutely dreadful.

- I think the impact of young people going to raves or having parties has been MASSIVELY overstated, and is a red herring to try and cover up some of the huge mismanagement elements to this crisis. I wonder how many old people have met up in a large group during this that we don't hear about.

All of the above has fed into the old vs young argument I feel.


The last decade or so has been a constant stream of spiteful and self-centred rhetoric, and a lot of it comes from young people who don't think they're getting a good deal, and older people who don't feel they should have to make sacrifices.

Society has reached a very unpleasant intergenerational standoff where both sides think the other is being unfair and entitled
I should say that I agree with all of this. The demonisation of the boomer generation is unhelpful and unfair, just as the demonisation of any large group of individuals is.

I was just painting what I see as the narrative that is spreading, in response to the bewilderment that some people are feeling victimised and confused. As a society we need to do better for and think better of our young people, and we need certain elements of the boomer generation (and my generation) to stop protecting their "hard" won house prices quite so determinedly

This post is full of spite, generalisations and inaccuracies.
That was the point. They aren't exactly attitudes that I hold myself, and are explicitly generalisations. I was just explaining that there is a flawed logic behind the inter-generational bad feeling, and that it's been building for a long time before Covid. Ultimately we all, in the boomer generation and my own, need to be doing more for younger people and not piling on the expectation and disappointment.

We also need people at the luckier end of the boomer spectrum in particular to accept that their house-price gains weren't "hard won" - they were lucky and often powered by tax relief and massive government transfers to homeowners. We can't afford for a basic human right to be denied to people because a certain subset of a certain generation want to end their days feeling like winners.
 
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david1212

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One wonders if the Boomers may have shot themselves in the foot with all this, as money that might have more wisely gone to the NHS has now been busted on furlough. Don’t expect me (30s) to happily make up the shortfall in public spending that is now inevitable over the next few years. Perhaps a Boomer Tax is now something to consider?!

Please do not ' tar all with the same brush '.

For my employer staff have been on and off furlough depending on the reduced workload, made redundant and contractors told their services are no longer required ultimately because of the significant down turn in business due to the worldwide Covid epidemic. If furlough gets extended again it is extremely unlikely to be until there is a regular flow of new orders. Had there been no furlough the business would have closed. Even now the business may not survive if the cash runs out first. If made redundant I do not expect any other job to pay much above minimum wage plus there will be a lot of competition for these jobs.

But a large number of boomers have died a number of years before their time. I cannot believe the hatred some show here for the older generation. Do they not have parents and grand parents of their own?

While born earlier there are several who were close to me in this category. My mother died age 60 & one of her brothers died at just over 70. Her other brother lived until around 80 but had a major stroke in his 60's and after was wheelchair bound. Two close friends both died around age 65. Someone who came to work for my employer 12 or so years ago died age 64 - their comment ' I could retire now but have decided to work a few more years for a better retirement ' rings loud to me. Another close friend retired 2 1/2 years ago aged just over 60. Within 12 months it was publicly announced he had Motor Neurones disease and should presume he had no more than 5 years life left plus of course will deteriorate during his remaining life. For him and his wife the last almost 12 months of isolation has been very cruel.

Taking the optimistic view that I am not made redundant first I do not intend to work up to age 67. All my provisional thoughts are now on hold until I have some idea of how pensions and investments will recover in real terms. Before all this saving in real terms loosing money was already an issue.

The majority source of these pensions and investments is from my earnings as I have chosen a modest lifestyle e.g. no expensive holidays, a budget car etc. I have never had any pension or other perks from my employers. The very much minority balance is inheritance. Ongoing my retirement will be modest. My budgeting is from 67 the state pension + £3000 - £4000. From when I retire up to 67 I will fund the value of the state pension too. The pension lump sum is earmarked for the house - new heating as now over 20 years old and new bathroom as original from 1978. If anything is left I will consider the kitchen or the car.

In 33 years the price of this house has increased from around £75000 to £300000. However I can not cash in on this. If in time I move to somewhere smaller logically it will retirement complex with some form of monitoring. The direct cash gain will be offset by the initial cost and ongoing maintenance and management charges. Should I end up in a care or nursing home for a significant time under the current system that will soon swallow nearly all the remaining capital and value of the property.
 
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MikeWM

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In 33 years the price of this house has increased from around £75000 to £300000. However I can not cash in on this.

Well, indeed. This sums up why I have always been baffled at widespread excitement over house price rises. It may benefit a small number of people either through inheritance or owning a property portfolio, but for most people it is irrelevant. All it results in is people not able to get on the ladder at the bottom. The people who 'benefit' either stay living in their current home, when it doesn't help them at all, or sell and then buy another, ditto.
 

david1212

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Well, indeed. This sums up why I have always been baffled at widespread excitement over house price rises. It may benefit a small number of people either through inheritance or owning a property portfolio, but for most people it is irrelevant. All it results in is people not able to get on the ladder at the bottom. The people who 'benefit' either stay living in their current home, when it doesn't help them at all, or sell and then buy another, ditto.

To most people the absolute value is irrelevant, what counts is the cost per month be it rental or mortgage. The hurdle that gets ever harder to cross is both paying rent and saving enough for a deposit even with schemes like part buy, part rent.

Likewise presuming the property is left to sell rather than accounted for in real terms it is beneficiaries who gain not the owners.
 
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RT4038

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Well, indeed. This sums up why I have always been baffled at widespread excitement over house price rises. It may benefit a small number of people either through inheritance or owning a property portfolio, but for most people it is irrelevant. All it results in is people not able to get on the ladder at the bottom. The people who 'benefit' either stay living in their current home, when it doesn't help them at all, or sell and then buy another, ditto.

I suppose you can benefit by doing some kind of Equity release, and spending the money? If the value goes to inheritance, then the younger generations should benefit.

This is a very complex subject. The children of the baby boomers, and their children, have had a far more plentiful childhood than the baby boomers - far less likely to have shared a bedroom, better and more plentiful food, more toys and gadgets, lifts in Mom's and Dad's taxi, education for longer, more responsive education to children's needs, better health service, far more likely for an inheritance. They certainly have had gains from their parents and grandparents prosperity. They may have to pay tuition fees, but 50% can go to University, rather than the 5% of my era.

However, an awful lot of money is going on mortgage/rent payments, perhaps rather than on improved pensions for the future. But how do you reduce the cost of houses without damaging those of the younger generation who have already taken out mortgages and would immediately suffer from negative equity? The baby boomers by and large already own their houses - halve the value of my house and the only losers are the younger inheritors!
 
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bramling

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To most people the absolute value is irrelevant, what counts is the cost per month be it rental or mortgage. The hurdle that gets ever harder to cross is both paying rent and saving enough for a deposit even with schemes like part buy, part rent.

Likewise presuming the property is left to sell rather than accounted for in real terms it is beneficiaries who gain not the owners.

This is the big problem in this country, namely house prices having snowballed in the last couple of decades, which has tended to disproportionately affect younger people as quite simply they have had it a *lot* more difficult in this respect compared to people in the same position 40 years ago.

The simple problem is demand outstrips supply, especially in some areas like the south-east.
 

DB

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Well, indeed. This sums up why I have always been baffled at widespread excitement over house price rises. It may benefit a small number of people either through inheritance or owning a property portfolio, but for most people it is irrelevant. All it results in is people not able to get on the ladder at the bottom. The people who 'benefit' either stay living in their current home, when it doesn't help them at all, or sell and then buy another, ditto.

I think it's that a certain type of person (and there are a lot of them) likes to feel that their house is worth an increasing amount and they are therefore 'getting richer' (I agree this is illogical as in most cases any house they might want to move to will have increased by a similar proportion, unless they are currently in London and want to move elsewhere).
 

bramling

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I think it's that a certain type of person (and there are a lot of them) likes to feel that their house is worth an increasing amount and they are therefore 'getting richer' (I agree this is illogical as in most cases any house they might want to move to will have increased by a similar proportion, unless they are currently in London and want to move elsewhere).

It’s only relevant if one decides to move to a cheaper area and/or downsize. My place has gone up by something like x8 since the 1990s. Makes not a jot of difference to me as I have no plans to move in the short, medium or long term.
 

DB

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The simple problem is demand outstrips supply, especially in some areas like the south-east.

It isn't just that though - the whole BTL situation occurred because it was enabled by deregulation - i.e. replacing secure tenancies with ASTs, and letting banks offer BTL mortgages. It was then fuelled by low interest rates as savings earn little or nothing so people were looking for an alternative which would bring in more.
 

HSTEd

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The simple problem is demand outstrips supply, especially in some areas like the south-east.

Demand only outstrips supply because the state makes it so, so that house prices only ever rise, to the benefit of some demographics.
 

RT4038

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Demand only outstrips supply because the state makes it so, so that house prices only ever rise, to the benefit of some demographics.

House prices are also what they are because many people can afford to pay them. In the 1990s, when the rules were changed to allow mortgage lenders to take more than one salary into consideration, some people were able to buy much bigger/better houses, but soon house prices rose to take advantage of the money that was now available. The by product being that every couple now had to work!
 
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