Miscellaneous wrote:Cowshed wrote:Arguably that is because more and more of them are stuggling to do things that we did relatively easily, such as buy a first home in our 20s without having to have help from parents, the government or housing associations.
Equally arguably it is because doing things the way 'we' did (it wasn't easy for me) is not good enough for them as their entitlement is new home, new furniture, new car, new mobile phone, designer clothes and oh must keep up the foreign holidays.
Irrespective, the baby boomers are not a burden on the young as suggested.
Well that was one reason why I picked Tower Hamlets (it isn't Kensington and that ilk). Personally I'd classify Tower Hamlets as East London, not central London.
The Foxton’s graph shows the average price in 2000 as £192,182. 18 years later it has increased by 200% to £584,131. That's a compounded increase of 6.7% per year. Are you suggesting that wages have kept pace? To be honest I was staggered at that value.
My understanding is that those in their 20s and 30s are less likely to own a house or a car that the same age group in the 1980s and before. Yes they buy more gadgets (but all age groups do now), they do have more foreign trips, but the rise of low cost airlines has made it more affordable.
Misc, where we do I agree is that baby boomers are not a burden on the young. That is not to say that the young don’t face a different set of disadvantages and advantages relative to the generation or two before them. [to paraphrase someone from the 17th Century: I remember the good ol'days when we had the Black Death, the youth today have it soft].