I mean it was hopeless for millennials it’ll be impossible for Gen Z unless their parents are wealthy.
We’ve had the Bronze Age, the Iron Age, the Industrial Age and the Information Age.
We’ve had the Renaissance, the Enlightenment and Modernism.
We’ve put men on the Moon, robots all over the Solar System and seen into the farthest reachest of space.
Yet our economic system is apparently incapable of sorting out the basic economic problem of providing shelter.
It’s a perfect storm really. They deincentivised being a landlord, covid made a lot sell up, then you’ve suddenly got hundreds of thousands of people at this time of year looking to move out with no deposit. It’ll take years to resettle.
And the likes of the telegraph complain about people of these generations not having children… I can’t imagine why
The UK is an extremely wealthy country. But all the wealth is rising to the top!
The game has **always** been unfair, and no matter how many headlines they recycle each generation there will always be winners and losers.
Everyone knows the rule to the game, and if you want a house you will have to make sacrifices in other areas of your life to get it.
The same people that are going to be paying off covid and the energy crises are the same people that are going to be struggling for decades.
It’s not too late to build a fairer society.
Where to start though?
I’m afraid I have to disagree. They will be fine.
My parents said the same thing when I was a child, yet here I am in my own home. I had no help from anyone, worked three jobs, had no nights out drinking, and no holidays to Spain.
Cheaper to just learn a trade and build your own
I’m sure we’re heading for something like the transitory culture that’s developed in the US. Mostly homeless, living in a tent or your car but with an occasional short term rent until you get priced out of the market after a few months. Maybe we’ll be able to manage doing house shares though, we’ll see. At least we do have council housing or more likely Housing Association properties, rent costs on those are actually realistic if you can get one. As to owning your own place? Only if mummy and daddy can buy it for you or support the mortgage.
How about we let people who rent keep pets at least.
The UK doesn’t build enough houses and the current housing crisis was always avoidable. But people born around between 1985 and 1995 are a rather large cohort, and one that reached typical house-buying age at the end of a long period of falling interest rates and hence abnormally fast house price inflation even considering supply constraints.
The 1995-2005 cohort is smaller (roughly 7.5 million compared to 9 million). They’ll also reach their early 30s around the time that the post-WWII baby boomers are dying in significant numbers (the peak year group is currently aged about 75).
It’s likely that rising interest rates and wages will push down real house prices as well.
So, despite the (slowly) growing population, inadequate new construction and general economic doom, it probably *will* get easier for gen Z to buy a house.
If you’re part of the big cohort that graduated into the great recession, got left behind by a decade of stagnant wages and rapidly increasing house prices and then triply fucked over by the pandemic, energy prices and rising interest rates for anyone that did manage to get a mortgage… Yeah, you’re still kind of screwed. But things might be easier for the zoomers.
It’s not sustainable. A generation of old people heavily subsided with their housing costs because they can’t afford to buy or pay extortionate rent will be coming.
I am a millennial. I have a Gen Z child, and a Boomer parent. It’s hard work.
Property ownership caps would prevent people and organisations from mass buying up housing.
But why the fuck is it up to me to fight for it? I just started working, why should I not be owed a home, a personal life, a chance to do what I want and grow? That’s what capitalism was marketed at, and you lot fucking lied to me! I want a house of my own, but I may as well just keep my childhood one and tell anyone else to bugger off.
Millennials and even Generation X could tell them that. Sadly, we are all in this together and there are no signs of it getting better, not as more wealth is transferred into fewer hands and they snap up property in waves, faster than it can be replaced too.
“The planet can provide for all our needs, but not all of our greeds” Ghandi
There are lots of cheap houses up north but they require a bit of work and are terraced so the kids here won’t touch them
The small town where I live has multiple house building projects on the outskirts and more centrally (within 1 mile of the train station). One of the town centre property developments was on the site of a former public building. There was a proposal to build twelve apartments. That was objected to and fell through. Now three massive detached houses have been built.
It would be nice if there was a happy medium between building massive detached houses versus tower blocks of flats. I would have supported the twelve apartment development, or maybe six terraced houses.
The population is increasing and land is finite. Why not limit new builds to 1200 sq ft?
20 comments
I mean it was hopeless for millennials it’ll be impossible for Gen Z unless their parents are wealthy.
We’ve had the Bronze Age, the Iron Age, the Industrial Age and the Information Age.
We’ve had the Renaissance, the Enlightenment and Modernism.
We’ve put men on the Moon, robots all over the Solar System and seen into the farthest reachest of space.
Yet our economic system is apparently incapable of sorting out the basic economic problem of providing shelter.
It’s a perfect storm really. They deincentivised being a landlord, covid made a lot sell up, then you’ve suddenly got hundreds of thousands of people at this time of year looking to move out with no deposit. It’ll take years to resettle.
And the likes of the telegraph complain about people of these generations not having children… I can’t imagine why
The UK is an extremely wealthy country. But all the wealth is rising to the top!
The game has **always** been unfair, and no matter how many headlines they recycle each generation there will always be winners and losers.
Everyone knows the rule to the game, and if you want a house you will have to make sacrifices in other areas of your life to get it.
The same people that are going to be paying off covid and the energy crises are the same people that are going to be struggling for decades.
It’s not too late to build a fairer society.
Where to start though?
I’m afraid I have to disagree. They will be fine.
My parents said the same thing when I was a child, yet here I am in my own home. I had no help from anyone, worked three jobs, had no nights out drinking, and no holidays to Spain.
Cheaper to just learn a trade and build your own
I’m sure we’re heading for something like the transitory culture that’s developed in the US. Mostly homeless, living in a tent or your car but with an occasional short term rent until you get priced out of the market after a few months. Maybe we’ll be able to manage doing house shares though, we’ll see. At least we do have council housing or more likely Housing Association properties, rent costs on those are actually realistic if you can get one. As to owning your own place? Only if mummy and daddy can buy it for you or support the mortgage.
How about we let people who rent keep pets at least.
The UK doesn’t build enough houses and the current housing crisis was always avoidable. But people born around between 1985 and 1995 are a rather large cohort, and one that reached typical house-buying age at the end of a long period of falling interest rates and hence abnormally fast house price inflation even considering supply constraints.
The 1995-2005 cohort is smaller (roughly 7.5 million compared to 9 million). They’ll also reach their early 30s around the time that the post-WWII baby boomers are dying in significant numbers (the peak year group is currently aged about 75).
It’s likely that rising interest rates and wages will push down real house prices as well.
So, despite the (slowly) growing population, inadequate new construction and general economic doom, it probably *will* get easier for gen Z to buy a house.
If you’re part of the big cohort that graduated into the great recession, got left behind by a decade of stagnant wages and rapidly increasing house prices and then triply fucked over by the pandemic, energy prices and rising interest rates for anyone that did manage to get a mortgage… Yeah, you’re still kind of screwed. But things might be easier for the zoomers.
It’s not sustainable. A generation of old people heavily subsided with their housing costs because they can’t afford to buy or pay extortionate rent will be coming.
I am a millennial. I have a Gen Z child, and a Boomer parent. It’s hard work.
Property ownership caps would prevent people and organisations from mass buying up housing.
But why the fuck is it up to me to fight for it? I just started working, why should I not be owed a home, a personal life, a chance to do what I want and grow? That’s what capitalism was marketed at, and you lot fucking lied to me! I want a house of my own, but I may as well just keep my childhood one and tell anyone else to bugger off.
Millennials and even Generation X could tell them that. Sadly, we are all in this together and there are no signs of it getting better, not as more wealth is transferred into fewer hands and they snap up property in waves, faster than it can be replaced too.
“The planet can provide for all our needs, but not all of our greeds” Ghandi
There are lots of cheap houses up north but they require a bit of work and are terraced so the kids here won’t touch them
The small town where I live has multiple house building projects on the outskirts and more centrally (within 1 mile of the train station). One of the town centre property developments was on the site of a former public building. There was a proposal to build twelve apartments. That was objected to and fell through. Now three massive detached houses have been built.
It would be nice if there was a happy medium between building massive detached houses versus tower blocks of flats. I would have supported the twelve apartment development, or maybe six terraced houses.
The population is increasing and land is finite. Why not limit new builds to 1200 sq ft?