Here We Go Again - Doug King's Latest Pricing Shambles (3 Viewers)

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robbiekeane

robbiekeane

Well-Known Member
wait is there really any argument that current pensioners— well basically boomers and older—are significantly wealthier, having benefited from far more affordable assets and then the absolutely insane growth of those assets relative to income?


of course they are. nonsense to argue otherwise
 
Chris1987

Chris1987

Well-Known Member
robbiekeane said:
wait is there really any argument that current pensioners— well basically boomers and older—are significantly wealthier, having benefited from far more affordable assets and then the absolutely insane growth of those assets relative to income?


of course they are. nonsense to argue otherwise
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But for those younger ones the markets have boomed over their relative short term . It's all relative . I paid for my first s conf hand 3 piece suite for the price of a curry.
 
robbiekeane

robbiekeane

Well-Known Member
Chris1987 said:
But for those younger ones the markets have boomed over their relative short term . It's all relative . I paid for my first s conf hand 3 piece suite for the price of a curry.
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what?

Property relative to income is wildly more expensive today than it ever has been. Shmee just gave the numbers. That is indisputable and whatever market boom you’re referring to will never make up for that structural change
 
Chris1987

Chris1987

Well-Known Member
robbiekeane said:
what?

Property relative to income is wildly more expensive today than it ever has been. Shmee just gave the numbers. That is indisputable and whatever market boom you’re referring to will never make up for that structural change
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I haven't referred to property in any comment that i have made. I was speaking about the stock markets and specifically pension investments. They have grown way more than any other sector over recent times.Income is also growing appreciably . Some Governments undermine this income growth relative to the increase in cost of property others don't.
 
Chris1987

Chris1987

Well-Known Member
robbiekeane said:
wait is there really any argument that current pensioners— well basically boomers and older—are significantly wealthier, having benefited from far more affordable assets and then the absolutely insane growth of those assets relative to income?


of course they are. nonsense to argue otherwise
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This has been the case over all generations. The advantage that we've had is the opportunity to invest in a far greater range of schemes which incidentally are also open to those younger than us. Both my kids have opportunities to buy property or not commensurate with their income ( one is 29 the other 26).
Incidentally I started out with nothing but debt. Got qualified, worked my nuts off . Somehow bought a house . Entitles me to everything I have now.
 
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SHUNT31

SHUNT31

Well-Known Member
Ashdown said:
Actually I had my most disposable cash in my 30s and that was bringing up 3 kids. Much better income then and prices of many things ( beer, holidays, energy, food ) were all a lot more reasonable.
Life and peoples income patterns vary. I’ve got mates now approaching their sixties with better pensions and shares to cash in etc.
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Try bringing up 3 kids now with mortgage rates double what they were 3 years ago. My food shop alone is £1,000 a month.

A lot of pensioners have a decent state and private pension, are mortgage free and naturally will do less / have less to pay for.

The pensions we are all offered now are nothing compared to what they would have paid into either.
 
Chris1987

Chris1987

Well-Known Member
SHUNT31 said:
Try bringing up 3 kids now with mortgage rates double what they were 3 years ago. My food shop alone is £1,000 a month.

A lot of pensioners have a decent state and private pension, are mortgage free and naturally will do less / have less to pay for.

The pensions we are all offered now are nothing compared to what they would have paid into either.
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Mortgage rates when we bought our first house in the early 90's were over 10% . Rates now are double what they were 3 years ago because they have been comparatively extremely low to previous generations. Granted public sector pensioners have great pensions due to final salary schemes but the rest of us have been financing them. If pensioners are not Mortgage free then surely that's a red light ?
Re pensions you're talking rubbish if the public sector final salary schemes are ignored. Not only is there the State Pension but Emplyers pensions schemes which employers are legally obliged to contribute towards . Your last sentence is totally wrong.
 
SHUNT31

SHUNT31

Well-Known Member
Chris1987 said:
Mortgage rates when we bought our first house in the early 90's were over 10% . Rates now are double what they were 3 years ago because they have been comparatively extremely low to previous generations. Granted public sector pensioners have great pensions due to final salary schemes but the rest of us have been financing them. If pensioners are not Mortgage free then surely that's a red light ?
Re pensions you're talking rubbish if the public sector final salary schemes are ignored. Not only is there the State Pension but Emplyers pensions schemes which employers are legally obliged to contribute towards . Your last sentence is totally wrong.
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Mortgage rates back then are irrelevant when wages were much higher when compared to house prices / amount borrowed. It was much more affordable. And that’s the same if comparing it to before rates jumped in 2022.

What do you mean about pensioners being mortgage free? I would wager that over 95% of pensioners are mortgage free, so not sure what you mean?

If you are lucky enough to work in the public sector, where wages are inflated anyway and where you tend to have to do less (frontline NHS / Police aside) then the pensions are unbelievable. My partner works for NCC and they pay 13.5% of gross salary per month.

How am I talking rubbish? Vast majority of people don’t work in public sector. Private employers are only required to pay 3% of qualifying earnings, not gross salary. It’s fuck all and will count for next to nothing when you get to retirement age.
 
Chris1987

Chris1987

Well-Known Member
SHUNT31 said:
Mortgage rates back then are irrelevant when wages were much higher when compared to house prices / amount borrowed. It was much more affordable. And that’s the same if comparing it to before rates jumped in 2022.

What do you mean about pensioners being mortgage free? I would wager that over 95% of pensioners are mortgage free, so not sure what you mean?

If you are lucky enough to work in the public sector, where wages are inflated anyway and where you tend to have to do less (frontline NHS / Police aside) then the pensions are unbelievable. My partner works for NCC and they pay 13.5% of gross salary per month.

How am I talking rubbish? Vast majority of people don’t work in public sector. Private employers are only required to pay 3% of qualifying earnings, not gross salary. It’s fuck all and will count for next to nothing when you get to retirement age.
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"Mortgage rates back then are irrelevant when wages were much higher when compared to house prices/amount borrowed"
Utter nonsense.
Between 2015 & 2024 the ONC reported that real household disposable income increased by 7% and this is a trend which has been continued from the early 1990's
I quoted Punlic Sector pensions as an exception which should have been obvious.
You're talking rubbish because on top of an index linked State pension employers now are legally obliged to contribute towards employee pensions. 3% compounded over 35 years is certainly not fuck all.
I had to take out a Private Pension - the only contributor was me.
 
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S

Samueljames1991

Well-Known Member
Chris1987 said:
"Mortgage rates back then are irrelevant when wages were much higher when compared to house prices/amount borrowed"
Utter nonsense.
Between 2015 & 2024 the ONC reported that real household disposable income increased by 7% and this is a trend which has been continued from the early 1990's
I quoted Punlic Sector pensions as an exception which should have been obvious.
You're talking rubbish because on top of an index linked State pension employers now are legally obliged to contribute towards employee pensions. 3% compounded over 35 years is certainly not fuck all.
I had to take out a Private Pension - the only contributor was me.
Sparks pathetically in there again. Sad git.
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Disposable income has definitely not increased since the 90s either that or the data is heavily skewed by something.

Wouldn't inflation effect it? Like we have more money to spend but everything else is way more expensive?
 
Chris1987

Chris1987

Well-Known Member
Samueljames1991 said:
Disposable income has definitely not increased since the 90s either that or the data is heavily skewed by something.

Wouldn't inflation effect it? Like we have more money to spend but everything else is way more expensive?
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According to the official stats real household income has . The 7% takes into account inflation
 
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