ME10Andy

@BenedictSpence Young people aren't footing the bill for pensioners. They are very rarely net contributor. It's mainly gen x that are footing the bill for all of them!

So many stamp their feet about how more people should pull their weight in this country, and then turn absolutely foul when you suggest that should include them.

@ColeFusionHQ Forget house price multiples and start looking at mortgage affordability. Low interest rates mean that as a percentage of income the mortgage payments now aren't too dissimilar to the 80s and 90s..... And the average house in the 70s was not a 3 bed semi, it was a terraced 2 bed.

your grandparents bought a house at 3.5x salary and graduated debt-free. you graduate £50k in debt into a housing market at 7.5x salary. they did not cheat. somebody changed the system. nobody has been held to account.

@Justin33Beck @linmeitalks No, they struggled, much the same as every generation since, including my own. Interest rates are a large cause of house price inflation, as they have made the higher prices more affordable. As a % of income, I suspect today's mortgage costs aren't much different to the 80s.

@Me10Andy @linmeitalks So they have messed up the housing market so badly that new families have nk hope to live as well as they did.

There are boomers sitting in large houses who don’t even want to free up equity or sell their house to help their own children get on the ladder. This is the level of selfishness we are dealing with. Thank god for parents like my mother She would sell her house in Tottenham tomorrow if it meant helping me…. And I would do anything to make her life comfortable- that’s what family is about. An eco system of giving. These days many boomers don’t want to help with grandchildren or finacial assistance and children don’t want to help their parents - so much selfishness between recent generations and it will get worse.

@EnricoBrugno @olorininir @shivmalik I don't believe that for one moment!

@Me10Andy @olorininir @shivmalik Are you aware that more than a quarter of British pensioners own multiple homes.

Last three days on twitter: WE WORKED HARD ALL OUR LIVES SO WE DESERVE A STATE FUNDED TRIPLE LOCKED PENSION FOREVER If you worked so hard where is your retirement money? IT’S LOCKED UP IN MY MILLION POUND HOUSE. Why don’t you sell that to fund retirement? HOW DARE YOU KICK ME OUT OF MY HOME I’VE LIVED IN ALL MY LIFE. STOP EATING HUMMUS AND MAYBE YOU COULD BUY A HOME TOO. I work hard but my 45% of money goes to you to pay for your health and pension and the rest goes to my (boomer) landlord and paying student debt. STOP BLAMING US FOR ALL YOUR PROBLEMS. WE DIDN’T GET ANY HANDOUTS. WE WORKED HARD ALL OUR LIVES. THAT’S THE SOCIAL CONTRACT. So can we build some new homes? HOW DARE YOU CONCRETE OVER OUR COUNTRYSIDE. I DIDN’T WORK HARD ALL MY LIFE TO SEE THIS COUNTRY DESTROYED. I’M WRITING TO MY MP RIGHT NOW. What about free buss passes, prescriptions and winter fuel payments? Maybe that could be redirected to some infrastructure? WE FOUGHT THE SECOND WORLD WAR ALL OUR LIVES. THIS IS WHAT WE DESERVE. * Leaves country * WHY ARE IMMIGRANTS DESTROYING THE COUNTRY AND TAKING ALL OUR MONEY??!! WE DIDNT LEAVE THE EU…

@olorininir @EnricoBrugno @shivmalik What do you mean by "substitutable"? If both oaps and young people are all looking for small cheap homes and there is a limited supply, then the price of those small homes will go up - it is basic supply and demand. Glad you agree about trying to sell the £m properties though.

@Me10Andy @EnricoBrugno @shivmalik They are substitutable, so not how supply and demand would work. Also, good luck selling for c.£m. It’s worth that on paper. Try selling it and that’s your real price

@olorininir @EnricoBrugno @shivmalik No, you end up with a glut of c.£m homes hitting the market that no one can afford, and demand for 1 beds going through the roof and driving up prices at the bottom end.

@Me10Andy @EnricoBrugno @shivmalik Yes. More bedrooms for sale puts downward pressure on prices. Higher supply = lower prices.

@Miss_Snuffy It's interesting that the working class have moved to the right and deserted the traditional working class parties - who on earth is supporting labour nowadays?

What is clear cut is that those with degrees have contempt for those without. Try getting a real job one day, build something, run something. Have some god damn respect. 😡

@WorldByWolf You have quoted a graph of the percentage rate of change rather than the percentage change itself. When starting at a low base it needs a higher percentage change to recover against the others.

One of the lines boomers use to defend the triple lock is Britain has an international low state pension compared to our peers. There’s just one problem with that argument - it isn’t true! British state spending on pensioners is actually well above the average among our peers.

@Landeur Perhaps young people need to adapt to new careers and professions......the same way boomers did when Manufacturing died, the mines closed, and the steel industry went to pot? It's a brave new world, and we all need to be agile in our careers.

What are you willing to sacrifice to ensure that young people have homes & work & fantastic lives? Something? Anything? Nothing?

@Janetsm10441997 @gearoidmurphy_ Indeed, it was the cream that went to university and not every tom dick and harry!

@Me10Andy @gearoidmurphy_ Harder to believe overwhelming majority of boomers never saw the inside of a university.

A better comparison is whether the boomer could buy the house they live in with the current wage for the job and experience level they had when they originally bought it. So if you were a 30yo bus driver when you bought your house, what house would you get now as a 30yo bus driver.

@EnricoBrugno @shivmalik When the market is fluid then house prices only go in one direction!

@Me10Andy @shivmalik Is a fluid market better than a stagnant one?

@EnricoBrugno @shivmalik So that pensioners are competing with first time buyers? You think would help the young?

@Me10Andy @shivmalik Why do you need a 4 bedroom semi detached when you could move to a one or 2 bedroom flat and have a much easier time maintaining all your stuff while the next generation builds a family in your old house?

@GaryBri99293774 @gearoidmurphy_ Most boomers didn't benefit from the right to buy, and is guess an equal amount of player generations probably did, seeing as it still seems to be a thing nowadays.

@Me10Andy @gearoidmurphy_ It isn’t a different issue it’s all part of the same discussion regarding who benefited from what and when. We’re debating lifestyle and how it’s achieved when we’re discussing the need to fund your own retirement or rely on the state. That’s the debate

@lukerobertblack Looking at average house prices is a deception, as the average house now is far different from 1980.....perhaps we should build mountains of terraced housing to bring back affordable starter homes?

Unless their parents are rich, they probably can’t

@alexbaynhambd It's ironic that having 3 kids and no income at all gets you the same property as being in the top 1%.....social housing is a large part of the problem! Why do we persist in housing people that don't work in the most expensive areas?

One way to look at the housing crisis is what did being in the top 1% of incomes get you 20,30 and 40 years ago? Probably more than a 3 bed in Tooting. This flows through to all income levels.

@ColeFusionHQ University may have been grant-maintained, but it was a damn site harder to get into and degrees actually meant something.

@ColeFusionHQ Less than 10% of the boomer generation went to University because it was the realm of the intelligent and pretty much only catered for degrees that were useful, nowadays over a third of current kids go to University and many of them study degrees that turn out to be worthless.

one generation got affordable housing, final salary pensions and free tuition. the other got told to go into debt to get a fine arts degree.

@GaryBri99293774 @gearoidmurphy_ Well, that's a different issue. In my opinion Council housing should never have been a house for life and should have been subject to regular review for suitability....and should never have been sold off as cheap as it has been.

@Me10Andy @gearoidmurphy_ No I’m suggesting anyone banging on about how hard it was for them to buy homes were given a huge leg up. They were buying properties for a pittance based on the fact they’d been renting it for a few years. This generation have no properties to rent