Lucky baby boomers

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Ben@Forest
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Re: Lucky baby boomers

Postby Ben@Forest » 18 Sep 2019, 8:35pm

Mike Sales wrote:I was too young for conscription, and no war has been fought in this country in my time. But huge numbers have died all over the world in war violence in my lifetime


Relative to the human population the number who die through violence is small compared with previous years. A conservative estimate is that Genghis Khan killed 5% of the world's population during 20 years in power. That would be the same as Syria's Assad killing 350 million since he came to power.

pwa
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Joined: 2 Oct 2011, 8:55pm

Re: Lucky baby boomers

Postby pwa » 18 Sep 2019, 8:40pm

Every generation has its pluses and minuses, and we just get on with it. The generation before mine got to retire earlier than I will, but they also had less chance of surviving if they got cancer. We just deal the cards we are dealt, don't we.
Last edited by pwa on 18 Sep 2019, 8:52pm, edited 1 time in total.

Mike Sales
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Re: Lucky baby boomers

Postby Mike Sales » 18 Sep 2019, 8:49pm

Ben@Forest wrote:
Mike Sales wrote:I was too young for conscription, and no war has been fought in this country in my time. But huge numbers have died all over the world in war violence in my lifetime


Relative to the human population the number who die through violence is small compared with previous years. A conservative estimate is that Genghis Khan killed 5% of the world's population during 20 years in power. That would be the same as Syria's Assad killing 350 million since he came to power.


Yes, I sometimes think about Gengis Khan's massacres. The accounts are horrible, huge pyramids of skulls.
Assad may have killed fewer (he has had less scope!) but the death and destruction in that country is truly appalling. The refugees he has driven out are suffering greatly. I am very glad to have been lucky enough to live in this country.
I am sure I don't really have to name all the countries now suffering in a similar way, like the Yemen.
Past suffering does not diminish theirs, but it does reinforce my gratitude for my good luck.
The horrors of WWII in Europe do not bear too much thinking about.

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al_yrpal
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Re: Lucky baby boomers

Postby al_yrpal » 18 Sep 2019, 9:22pm

Born in 1942, I am from an earlier generation. I think successive generations have had some things better and some things worse. Housing has been a particular problem for later generations caused by fast population growth and lack of new houses.

Although my generation lived in real austerity there was a great education system, plenty of job opportunities, and inflation made a great job of making our mortgages shrink quickly albeit that interest payments were eye watering in the 70s and 80s.

If you had an endowment mortgage the carpet baggers liberated unexpected riches when all sorts of insurance companies and building societies demutualised and if you owned a second property that was another tranche of riches as the value of property rocketed. Some baby boomers undoubtably benefitted from that.

The present generation has it all but in Britain just housing yourself at a young age is a challenge for us all.

Al
Touring on a bicycle is a great way to explore and appreciate the countryside and towns you pass through. What do you do to make a difference?

pwa
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Re: Lucky baby boomers

Postby pwa » 18 Sep 2019, 9:42pm

High housing costs do affect those of us approaching retirement because we are depleting our savings to get our kids started on the property ladder so that they don't get stuck with renting. So our retirement will come later and be less well funded. I believe this is quite a common thing now.

iandriver
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Re: Lucky baby boomers

Postby iandriver » 18 Sep 2019, 9:59pm

I was born in 1967 in North London and was completely priced out of the market in the late 80s housing boom. The big crash let me back in and I bought my first house for 4x my first salary. If I was looking to do the same today, I would need about 9x my considerably higher relative salary, which I could never do.

I'm glad I'm not starting out today. No amount of saving would bail me out, there was no bank of mum and dad for me.

As am interesting experiment, look at property prices on a website like Zoopla for the the street you bought your first house in and see what salary you would need with a 4x mortgage and a 10% deposit
Last edited by iandriver on 18 Sep 2019, 10:11pm, edited 2 times in total.
Supporter of the A10 corridor cycling campaign serving Royston to Cambridge http://a10corridorcycle.com. Never knew gardening secateurs were an essential part of the on bike tool kit until I took up campaigning.....

pwa
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Re: Lucky baby boomers

Postby pwa » 18 Sep 2019, 10:06pm

iandriver wrote:I was born in 1967 in North London and was completely priced out of the market in the late 80s housing boom. The big crash let me back in and I bought my first house for 4x my first salary. If I was looking to do the same today, I would need about 9x my considerably higher relative salary, which I could never do.

I'm glad I'm not starting out today. No amount of saving would bail me out, there was no bank of mum and dad for me.

The only reason we can help our kids with a deposit is that we live outside the South East of England. £100 000 will get you a decent starter home in this region. Part of the problem is, I think, homes being bought to rent. That makes the market too strong for those on lower incomes, so they end up stuck with renting.

iandriver
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Re: Lucky baby boomers

Postby iandriver » 18 Sep 2019, 10:10pm

pwa wrote:
iandriver wrote:I was born in 1967 in North London and was completely priced out of the market in the late 80s housing boom. The big crash let me back in and I bought my first house for 4x my first salary. If I was looking to do the same today, I would need about 9x my considerably higher relative salary, which I could never do.

I'm glad I'm not starting out today. No amount of saving would bail me out, there was no bank of mum and dad for me.

The only reason we can help our kids with a deposit is that we live outside the South East of England. £100 000 will get you a decent starter home in this region. Part of the problem is, I think, homes being bought to rent. That makes the market too strong for those on lower incomes, so they end up stuck with renting.


Totally. The lack of trust in the pensions system and practically zero interest really doesn't help.
Supporter of the A10 corridor cycling campaign serving Royston to Cambridge http://a10corridorcycle.com. Never knew gardening secateurs were an essential part of the on bike tool kit until I took up campaigning.....

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Cunobelin
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Re: Lucky baby boomers

Postby Cunobelin » 19 Sep 2019, 6:48am

reohn2 wrote:What's generation X?


I could be flippant:



bUt this is probably a better reply


merseymouth
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Re: Lucky baby boomers

Postby merseymouth » 19 Sep 2019, 8:11am

Hi all, For antibiotic resistance surely a lot of blame should lie with animal husbandry, including the GP's dosing patients very bit as bad as Vets!
Housing? When I sought a mortgage it was worked out at 2.5 times main earner plus 0.5 times second earner.
My lass and I worked on the basis of just the higher earner only. It was an Option Mortgage, no MIRAS, 20% deposit, over 20 years.
We lived within our means and paid it off in 18 years.
She retired after 42 years at the chalkface, I who had become a male housewife years before slogged on paying my own N.I. stamps, to "Officially Retire" when they started pay the State Pension.
Only having a single child which we could cope with, all a very basic life. No costly holidays, when we had a car it would have been suffering MOT's for at least 12 years, except our last one which had been through the process for over 50 years.
Today the aspirational generation think us quite mad, "What no new car or 2 Continental Holidays?". Point made.
Yes, my Travel Pass keeps me going, as does my Disabled Person Railcard, not a Land of Milk & Honey for these Baby Boomers! IGICB MM

Ben@Forest
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Re: Lucky baby boomers

Postby Ben@Forest » 19 Sep 2019, 8:17am

iandriver wrote:As am interesting experiment, look at property prices on a website like Zoopla for the the street you bought your first house in and see what salary you would need with a 4x mortgage and a 10% deposit


Yes, example (not me but someone l know) bought it for £26,000 in 1986, sold it for 62. Last on market at 175. And l know that's cheap compared to the SE but, especially if you were working, you couldn't live there without a car (l know that's heresy on a cycling forum but it's true) so that's another cost. Wages haven't kept up with that.

Oldjohnw
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Re: Lucky baby boomers

Postby Oldjohnw » 19 Sep 2019, 8:34am

I bought a house in 1971 for £3500 with a £700 deposit which I'd saved. It was another couple of years before I reached the magic £1000 pa salary.

But for many years my pension was non contributory, buses were widely available, I was under no peer pressure to go to New York for a shopping trip or Phuket for my honeymoon (Windermere was just fine).

Today I have a bus pass which I've had since I was 60 although the bus service is very limited. Women of my age have had a state pension since they were 60 - paid for by today's earners, not their own contributions.

I retired from full time work at 57 and have savings.

My children will be nothing like as lucky.
Last edited by Oldjohnw on 19 Sep 2019, 9:04am, edited 1 time in total.
John

Cycling and recycling

Ben@Forest
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Re: Lucky baby boomers

Postby Ben@Forest » 19 Sep 2019, 9:00am

A lecturer l had at university got his first mortgage, in the 1970s, on the strength of a grant he'd got from NERC (Natural Environment Research Council) to do his PhD.

Tangled Metal
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Re: Lucky baby boomers

Postby Tangled Metal » 19 Sep 2019, 10:29am

Never been shopping in NYC. Reckon I'd hate it. Never been to Phuket neither. Until three years so ago when I splashed out on ferry tickets to Netherlands my overseas holidays consisted of the last holiday paid by my parents as a kid, one interrail round Belgium and Holland (heavily subsidised by family at 17), a visit to visit my sister in Athens (living costs paid by her) and a return flight to nice to stay in a family booked villa at no charge to me. Other than that a rare few work visits.

Basically I spent 25 years holidaying almost exclusively in the UK for very little money. A large chunk of that time accommodation was free (wildcamping). I feel no peer pressure over holidays and shopping trips. I think that's for richer baby boomers or gen x people. You cut your cloth according to your means. Ever the case I reckon despite what some generations make out. (As in baby boomers don't have monopoly rights on make do and mend.)

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Mick F
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Re: Lucky baby boomers

Postby Mick F » 19 Sep 2019, 2:20pm

Mentioning Zoopla etc, I looked up our first home we bought.
90, Woodbank Gardens Alexandria. Two bedroom shoebox.
Bought in Jan 1983 for £19,500 and sold in May 1985 for £22,000
https://www.google.co.uk/maps/@55.99489 ... 312!8i6656

Nearby homes going for £90odd grand now. If we'd kept it on for the past 35 years, we wouldn't exactly be rich enough to buy a similar house here in the SW of England now.
Mick F. Cornwall