ME10Andy

@degenthor @db_fink Yeah, they had it so easy with their 14% interest rates!

@db_fink i found out from a boomer that replaced an even more generous scheme which gave interest relief on all interest products! they had it so good

@BrianMarti4516 @jessgill03 @Pabel5Pabel Nothing......if you want to be an RE teacher or a priest......just don't complain if it doesn't give you the most affluent of careers.

@Me10Andy @jessgill03 @Pabel5Pabel What's the matter with a degree in Theology??

It’s really strange how some boomers are blaming young people taking “bullshit degrees” for the reason they can’t buy a house when they’re the ones who encouraged that if we wanted to be successful, we should get a degree. Most 18 year olds are following the advice of their parents and their schools when they go to university - this is system that the boomers set up and now young people are being blamed for it.

@JemRobson01 @rcolvile Just get young people on the ladder in something manageable......but I fear a lot of people want their first home to be something they can show off alongside their iphone and car.

@Me10Andy @rcolvile Sounds like a plan!

Sorry, Kevin, this is nonsense. Housing costs as a % of income have risen from 10% in 1957 to 30% or more. We are 6.5m homes behind European average. And the evidence from the many other countries with similar interest rates but higher housebuilding is pretty bloody clear.

@IzziDaly @PropIndEye @kevinhollinrake Of course it's not - the average house in 1980 was a 2 bed terrace, whereas now it's a 3 bed semi.

@PropIndEye @kevinhollinrake Is the average house style/condition/amenities comparable over that period?

We do need to build more houses, but blaming house price inflation on baby boomers is largely missing the point. The reason house prices have increased more than salaries is lower interest rates. Owning a home is pretty much as affordable as it’s been for the last 50 years. It’s getting on the ladder that’s tough. Hence Kemi’s bang on commitment to scrap Stamp Duty on your own home.

@PropIndEye @kevinhollinrake With respect, average house prices may have shot up, but has affordability?

@kevinhollinrake With respect Kevin, you of all people should be aware of average wage v average house price multiples.

@JemRobson01 @rcolvile Which is why we should start building those lovely terraces again - small footprint, but cheap to buy and heat!

@rcolvile The average European house size is below. The Uk is right in the middle at 3.5. The number of houses is related to the size of the population. We do not have a house shortage but a shortage of affordable houses.

@jessgill03 @Pabel5Pabel At 18 you're old enough to start a family, old enough to vote, old enough to drink, old enough to go to war........but not old enough to understand that spending c.£27k on a 2nd class honours degree in Theology from Coventry Polytechnic might not be the best idea.

@Pabel5Pabel When we were sixteen/seventeen with the only knowledge we had what was our family and school recommended, not really.

@BeormasSpam @lisakeb007 @jessalinecaine @jeff_of_norwich That is no different now than it has been since the late 70's when manufacturing disappeared, the mines were shut down, and everything moved to London.....that has impacted every generation, including the boomers.

@lisakeb007 @jessalinecaine @jeff_of_norwich It’s not about “wanting” to work on London or a big city, it’s about there being no opportunities for us outside of these hellholes. I’d love to love in the arse end of nowhere in the country, but it’s just not possible if you want a job that would come close to paying for it.

Quite a revealing mindset this. When young people can’t afford housing, the answer is never that the market is broken. It’s always that they should have lived smaller, duller, meaner lives …

@haroldtplopps @HasAhmed_ House prices have gone up, but affordability hasn't moved too much.......the example below shows it as more affordable now, but does NOT take into account differences in taxation and MIRAS relief:

@HasAhmed_ why are you fighting old people. if anything you need to fight business and why house prices have gone up massively wages are stagnant despite them all making huge profits.

I’m glad more people on my TL are finally calling out boomer entitlement. The old “just cancel Netflix and save like we did” argument ignores the reality we face today. Housing costs have outpaced wages by multiples, student debt is at record highs, and real wage growth for young people has stagnated for decades. In the 1970s, the average home was ~3x annual income, now it’s often 8–10x+. Tuition for uni used to be free; now it leaves people in debt for decades. It’s no longer about lattes or subscriptions in an economic system that no longer offers the same baseline opportunities, yet the young today still gets judged by outdated standards.

@HasAhmed_ House prices may have outpaced wages, but house affordability is about the same due to far far lower interest rates nowadays. As a percentage of income the mortgage isn't much different.

@Justin33Beck @linmeitalks They haven't sold anything to their kids at insane profits - that's the problem that all the young are whinging about! They continue to live in those houses and aren't downsizing.

@Me10Andy @linmeitalks Once they had everything they needed, they jacked the prices to insane levels and sold it to their kids for MASSIVE profits. Screwing over thier own children with their greed

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.

@Justin33Beck @linmeitalks Cods wallop - a car was always a luxury in the 70s and 80s. Car ownership is hugely more widespread now than it ever was in previous generations. Houses were cheaper, but less affordable due to interest rates that were three or four times higher than they are nowadays!.

@Me10Andy @linmeitalks The Boomers had it the easiest of any generation in 200 years and destroyed it for future generations with insane greed. They got a booming economy where they could buy new cars every year (many boomers have told me this) and buy houses SUPER cheap. But they wanted more so

@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.

@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.