Quote:
Originally Posted by Kursk
Y'know ignition, I'm quite happy for the older generation to get something from the public purse. I wouldn't refer to it as a bribe though, I would call it a deserved gift  . |
Would you mind explaining why it is 'deserved'?
I think we've already gone down this route and you were unable to previously, but I'd more than welcome it.
Again, there are a few points of view that are entirely at odds and being used to counter what I've said. I'm genuinely struggling to see any coherent case being put forward but instead emotive arguments that they appear to boil down to that they are deserving because they're older.
---------- Post added at 08:34 ---------- Previous post was at 08:27 ----------
Quote:
Originally Posted by Hugh
Point of information - it's not £20k per year, it's £20k in total, with £10k in the 1 year bond, and £10k (maximum) in the 3 year bond.
And also, the comment on your linked stat above It could also suggest a rise in people in that age group blowing their disposable income on other things, like most of the ones in Leeds you can see in trendy bars at the top of Briggate or around the Trinity Arcade/Calls Lane/Corn Exchange on a Thursday/Friday/Saturday night... 
Some interesting stats here - http://www.economicshelp.org/blog/57...ts-and-graphs/
I found this one informative, as it reflects my own experiences..
So perhaps we didn't have it as easy as is stated, with mortgage payments over 50% of salary.... |
Flipside though is that that graph is skewed heavily by the drop in home ownership rates among younger, and hence less wealthy demographics. Slice off the top 20%+ at one extreme and you inevitably end up with something more flattering.
The jump in percentage of income consumed by mortgage repayments was a brief, one-off event as a result of the disastrous dalliance with the ERM. This had a few effects, it did indeed cause an interest rate spike, which both spiked mortgage payments and, however, eroded the value of principle very quickly.
It's pretty scary looking at that graph, actually. Mortgage rates are about as low as they could be, there're still tons of interest-only mortgages, there are only 1/3rd the number of under-25s and half the number of under-35s on the ladder yet mortgage payments are still 1/3rd of income.
Keeping the interest rates so low is both holding prices high and leaving no real inflation to erode the principle.