Let's tax pensioners

[Deleted member 18588]

Agreed. You could also argue that the "older" person now is part responsible for the stupid house prices younger persons cant even hope to afford, having driven them up in their search for that next "trophy" house.

One of the more ludicrous suggestions.

I am 69 and my friends and acquaintances are similar ages.

Yes we are all homeowners but I do not know one who has ever sought a "trophy home.

We may have wanted a larger property at times but that was for the comfort and wellbeing of ourselves and our families.

Also need to dispel the myth that all of our generation enjoy the benefits of Final Salary pensions. Not true and for the majority never has been true.

 

[Bunkermagnet]

We may have wanted a larger property at times but that was for the comfort and wellbeing of ourselves and our families.

But did you "need" that larger house or just "want" it?
Older people are always saying how they used to live on a shilling a week, and that included paying their rent, food and clothing in a 2 up 2 down with outside lavvy for a family of 8

My point is everyone is responsible for where we are today. Blaming one element of society is not the answer.

 

[Deleted member 18121]

It's not fair to blame those wanting a bigger house for the way prices have gone. The people to blame are those that own multiple properties, that is obvious. Property has turned into an investment, which is wrong, it should be the RIGHT of every working UK citizen to be able to afford to buy their own house. Imagine now if all the owners of 3+ properties were forced to sell......for me that would be the ideal world, a market flooded with properties driven down to realistic prices.

Just for the record, I'm 37....bought my first 1 bed flat in January 2007 and in the next 4 years I lost 25k on its value. So when it came to get married and want a family I had to take the hit and move on. Since then I've been renting and we both know we will only be able to afford to buy a house when we inherit.

 

[Deleted member 18588]

But did you "need" that larger house or just "want" it?
Older people are always saying how they used to live on a shilling a week, and that included paying their rent, food and clothing in a 2 up 2 down with outside lavvy for a family of 8

My point is everyone is responsible for where we are today. Blaming one element of society is not the answer.

But unlike some I am not blaming any particular group.

And you can ask the "need" or "want" question of any purchase. Steak or mince, small hatchback or bigger car, Dunlop or Titleist.

These are choices in a free society and some of today's younger generation wish to make different calls to mine.

That is their right but having made their choice they must appreciate that there may be consequences.

 

[SaintHacker]

Seems fair after you screwed us on Brexit.

zzzzz

I heard one of the reasons given on the news this morning was students coming out of university with huge debts. I know plenty of people who finished their degrees without a penny of debt, how? Because they went and got a part time job and didn't drink their grant during the first week they were there.

 

[Deleted member 18121]

zzzzz

I heard one of the reasons given on the news this morning was students coming out of university with huge debts. I know plenty of people who finished their degrees without a penny of debt, how? Because they went and got a part time job and didn't drink their grant during the first week they were there.

I think that argument was valid when I went to Uni (1998-2000) but not now, no part time job will get even remotely close to paying what these young uns have to pay to go to Uni anymore.

 

[Deleted member 18588]

zzzzz

I heard one of the reasons given on the news this morning was students coming out of university with huge debts. I know plenty of people who finished their degrees without a penny of debt, how? Because they went and got a part time job and didn't drink their grant during the first week they were there.

What grant?

With very few exceptions grants have long since disappeared.

 

[BristolMike]

I’m early 30s and own a couple of properties now, but I made some major sacrificies to get in to the position I am now without any help. I got there by working my a** off after football disappeared. I’ve got friends of similar age and slightly younger who moan that they will never be able to afford a house due to the prices and blame people like me. The same people go away on 2-3 holidays per year and go drinking pretty much most weekends and wonder why they can’t save for deposits

 

[Kellfire]

I’m early 30s and own a couple of properties now, but I made some major sacrificies to get in to the position I am now without any help. I got there by working my a** off after football disappeared. I’ve got friends of similar age and slightly younger who moan that they will never be able to afford a house due to the prices and blame people like me. The same people go away on 2-3 holidays per year and go drinking pretty much most weekends and wonder why they can’t save for deposits

Some people want to enjoy their life to a certain level that they deem it worth sacrificing owning a home. I know I'd rather enjoy my limited days on earth than give up certain comforts just to own some land and bricks.

 

[SwingsitlikeHogan]

When I heard about the £10k for 25yr olds I thought they were talking about the Basic Universal Income (and there is a good discussion there)

But as this has been presented and is being discussed as a £10k giveaway to 25yr olds to spend on whatever - but let's just get the facts straight.

A restricted use asset endowment (citizen's inheritance) available to 25yr olds, but for which they will have to apply and present a 'business case' to cover expenditure on such as buying a property, investing in education or starting a business.

Maybe not such a bad idea at all - to break the inequitable cycle that finds today that the only younger folk able to do these things are those who inherit or get funds from their parents.

https://www.theguardian.com/politic...term=269782&subid=5306717&CMP=EMCNEWEML6619I2

 

[SwingsitlikeHogan]

zzzzz

I heard one of the reasons given on the news this morning was students coming out of university with huge debts. I know plenty of people who finished their degrees without a penny of debt, how? Because they went and got a part time job and didn't drink their grant during the first week they were there.

Well I know plenty who didn't. And some, though not all, were working part-time. And very few of those I know got a grant.

At 26yr I bought my first property - a 2-bed flat in central Bristol (in Redland for those in the know). It cost me £35k. At the time my salary was about £9k. I bought it with a mortgage of £32k - putting down a deposit of £3k of my own savings and a little top up from my parents. And of course £32k is about 3.5x my salary. So sums all worked just right for a new graduate professional engineer.

I recently saw it for sale for £275k. The sums no longer work for a new graduate professional engineer. And it is the same flat - in the same location.

 

[Bunkermagnet]

But unlike some I am not blaming any particular group.

And you can ask the "need" or "want" question of any purchase. Steak or mince, small hatchback or bigger car, Dunlop or Titleist.

These are choices in a free society and some of today's younger generation wish to make different calls to mine.

That is their right but having made their choice they must appreciate that there may be consequences.

Of course there are, some visible and some unseen. I have quite a few friends who like me took out a private pension to try and give them a better standard of life in old age. If you couple Mr Browns raid on the pension investments made, along with the current flavour of Governments idea that you should sell your family home to fund your care home provision, where is the incentive to save and try and make provision for when you get old?
My parents worked hard all their life and brought us up in a responsible way. They weren't a burden on the state,never spent what they didnt have and looked after what they had. They took the view the ( 3 bed terraced) family home would be their financial legacy to myself and my 2 brothers when they left us. When my mother had to go into a care home, the house we grew up in and all the memories in it were sold to fund her at the home. Other residents within the home were funded by the council because they didn't have the house my mum and dad had worked hard for.

As friends of mine all around the same age as myself have said, where is the point in saving or trying to make provision for yourself when you're penalised if you do have anything when you get old?
It's hard to not take that view in the current situaion.

 

[BristolMike]

Some people want to enjoy their life to a certain level that they deem it worth sacrificing owning a home. I know I'd rather enjoy my limited days on earth than give up certain comforts just to own some land and bricks.

oh I still enjoyed myself and still do, but fully aware I can’t have everything. I went on one holiday rather than 3 etc. It seems owning a home isn’t something you’re overly bothered with, so that comment wasn’t really aimed at someone like you. It was more about people making it everyone else’s fault why they can’t afford a house.

 

[Deleted member 18588]

As friends of mine all around the same age as myself have said, where is the point in saving or trying to make provision for yourself when you're penalised if you do have anything when you get old?
It's hard to not take that view in the current situaion.

Fair enough that's their choice provided they don't subsequently moan that, as a result of their lifestyle choices, they can't afford a deposit on a property or that their retirement is impoverished.

 

[PhilTheFragger]

If you hand out 10k to all the kids to buy a house, all that will happen is the price of houses will rise by 10k.

Tell me I’m wrong

 

[Liverbirdie]

Agree with the above, but it is a different ball game nowadays, go back 40 years and someone on average salary could afford to buy a house which would cost about 3 or 4 times salary.

Nowadays it’s nearer 8 times average salary,(certainly in the south east) most young people end up renting, those that can buy can only do so if they get a handout from the bank of Mum n dad or an inheritance from granny. Or their work qualifies them for special help.

Do Norman Tebbit's bikes, do a return journey?

And go and spend £1.50 on a maxwell house coffee, instead of Costa supercalifraggerlicksitImurgisatrociousmochiato.

 

[Bunkermagnet]

Fair enough that's their choice provided they don't subsequently moan that, as a result of their lifestyle choices, they can't afford a deposit on a property or that their retirement is impoverished.

We are all in our 50's and own our own homes. Their point is that having tried to make provision for when they get to retire they will be penalised for having done so. They see it as being no better off than those who have spunked their money up the wall.

 

[Deleted member 18588]

We are all in our 50's and own our own homes. Their point is that having tried to make provision for when they get to retire they will be penalised for having done so. They see it as being no better off than those who have spunked their money up the wall.

I appreciate their point but this is not a recent development, it has been so for many years now.

 

[TheDiablo]

If you hand out 10k to all the kids to buy a house, all that will happen is the price of houses will rise by 10k.

Tell me I’m wrong

Not saying your wrong, but that 10k increase would be spread over a 35 year mortgage term, so insignificant in the scheme of things.

An equivalent number to the point you're trying to make would be closer to house prices rising by £100k, which won't happen.

 

[IanM]

Intergeneration disparity must be stopped...

All over 50 golfers from provincial towns will be rounded up, transported to the inner cities and forced to join gangs!

More "free unicorn" theory dreamt up by folk who might benefit from 10 mins in the real world.