Baby Boomers Are Evil - visit Reform Australian Housing on Facebook; I bought a house a year ago, paid some snivelling undeserving ageing hippy boomer far more than they deserved
The evil baby boomer generation has been exceedingly well catered for, and exceedingly successful in pushing the costs of their lifestyle onto their children and future generations. Nothing represents this better than the explosion in debt levels.
What is debt but borrowing from tomorrow to consume today and at its most basic level, the run up in debt represents the predominant cohorts failure to live within its means, whilst still demanding all the benefits that are globally available.
The repayment of that debt means sacrificing future consumption to pay it back – so effectively boomer society, anticipating ever greater economic growth and imparted benefits of technological advancement, have chosen to run up debt levels so they can benefit from the future advancement of society that they envisaged coming down the road.
Simplistically, technology is going to deliver future residents a higher lifestyle than they can currently afford, so why don’t we load up the economy with debt, so we can enjoy those benefits ourselves – sure future growth rates will be lower, but hey, they’ll have iPhone12′s to make their lives so much more meaningful and enjoyable.
Prior to the boomers being handed the reigns of power, there were a large number of checks and balances, both political, fiscal and social, that earlier generations had put in place, to attempt to reign in the inequalities and power of the 1% (or really the 0.01%).
However, when offered an opportunity to profit by the same sort short sighted policies of self interest, that usually only favour the 1%, as a generation the boomer jumped at the opportunity and have been busy extracting an economic rent from future generations by earning a clip from inflated asset prices ever since.
It is the values of self interest over society, that the ME generation have famously defined themselves by, that really lies at the heart of many of the problems we as a nation, and society now find ourselves.
Personally, I don’t think it is wrong or immoral to be critical of those values or the generation from which they emerged.
Would I sell my house for half the price – of course not.
But am I prepared to argue for and promote policies that will act to my personal detriment?
Yes – I bought a house a year ago, paid some snivelling undeserving ageing hippy boomer far more than they deserved simply for a place to live, while they can use the funds to do whatever the fuck they want. Most likely blowing a fair portion of it on an overseas holiday before coming back and going on the geezer dole.
But guess what, as futile as it may be I started a FB page “Reform Australian Housing” to try and promote policies that would ultimately lead to my own financial detriment, even though, if implemented they’re likely to make Australia a better place to live. I’m also exploring political avenues, if not becoming involved outright myself, then seeing what I can do to assist or support those that do.
What pray tell are you greedy bulls here doing – from the comfort of your much appreciated house?
My attack on Boomers and Boomer culture is due in no small part to the enormous inertia that they exert on society – they have it all nicely squared away for themselves at the moment, so even if, like yourself some of them disagree with where we are headed, their motivation to actually do something about it is next to none existent (like your hopeless comment).
A young and vibrant youth culture is necessary in order to effect change. By failing to stand up and push back as older people shirk the responsibilities for the problems of their own making, society as a whole will become increasing sclerotic.
The opportunities for change diminish as the efforts and energies of young people, that could otherwise be directed towards effecting change, are instead diverted to tread water in their own lives and carry the burden that the old are increasingly placing on them.
This is particularly the case in societies where declining birth rates (arguably as result of those burdens being placed on people of child raising age) further reduces the ranks of young people capable of pursuing social change.
So basically, if you are not for change, actively pushing for it, then effectively you are against change.
Oh and BTW, as a mater of interest, following the pre-budget COA findings and the practical declaration of outright generational war on young people by the controlling cohort, I started a second FB page “Boomers Are Evil”, despite it being in existence for a fraction of the “Reform Australian Housing” page, at nearly 500 likes it already has 20% more likes.
Proof to me that change isn’t going to come from people comfortably ensconced in their nice warm houses, but from young people increasingly locked out of what society has to offer, by their parents or more to the point, their grand parents.
I seriously doubt any meaningful change will be pursued by members of GenX, however where members of my generation can take a leadership role is by influencing those who are increasingly being locked out of life and have nothing to lose.
Nothing in this world ever gets done without the help of angry young men, and when I look at the demographics of the BAE FB page, it gives me hope that maybe, just possibly, change is still possible.
Sir, Question, why did you choose not to build a new house? Please answer this. I would like to know why you in your own words decided to pay to much for a second hand house "Demand" from a Boomer "Supply"???
What sort of an animal are you to deny your fellow man of a house and in your own words force the prices up of established homes??
I agree, it's unlikely that anyone would set off a MAD event (at least among the saner world powers). But I have a feeling that things are getting a little heated.
When I refer to the coming War, I don't mean the small affairs that inhabit the realm between "Total Wars". The 30 years war was a Total War, the Napoleonic and WW2.
In a Total War, all weapons and all means are used with gay abandon.
When I was 20 I could see WW2 was the result of WW1. But I always wondered what was idiot politics that led to the first "world war". Now I've seen a repeat of the politics.
The West thinking it can push into the Ukraine is a key type of idiocy.
The next trick of our glorious banks will be to charge us a fee for using net bank!!! You are no longer customer, you are property!!!
So when are you saying that GenX started buying houses?
Well the first Gen X were born in '64 say so they would have about 50 % home ownership rates by the time they were 35 ie in 1999. They would have started purchasing about 10 years before, so 1989 but most were probably delayed by the huge interest rates and dreadful lack of confidence present at that time.
Gen Y had a great market to buy into for most of their 20s and 30s. It is only the last few years things fell a bit, but now they are back to fantastic capital gains in Sydney and Perth.
Gen X will be much richer that the boomers when they get to our age IMHO, if they have managed to hold onto their homes through the downturn.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
Gen X will be much richer that the boomers when they get to our age IMHO, if they have managed to hold onto their homes through the downturn.
Expensive common housing makes you rich?
What an illusion!
The great debt binge that started under Regan and Thatcher is coming to and end. It was fueled by money borrowed from the developing world. It was this flood of money that culminated in the pre GFC debt bubble.
With the GFC what you knew has come to an end. Any imagined gains will now be killed by inflation. Although inflation isn't a certainty, because the central banks have a choice between deflation and inflation. There is no Goldilocks anymore, for Goldilocks has been chewed up.
Your gains came from places like China, there is no free lunch. Now China is imploding! Game over!
The next trick of our glorious banks will be to charge us a fee for using net bank!!! You are no longer customer, you are property!!!
Well the first Gen X were born in '64 say so they would have about 50 % home ownership rates by the time they were 35 ie in 1999. They would have started purchasing about 10 years before, so 1989 but most were probably delayed by the huge interest rates and dreadful lack of confidence present at that time.
Gen Y had a great market to buy into for most of their 20s and 30s. It is only the last few years things fell a bit, but now they are back to fantastic capital gains in Sydney and Perth.
Gen X will be much richer that the boomers when they get to our age IMHO, if they have managed to hold onto their homes through the downturn.
Oh skamy, open your eyes goofy. Here you are below zpriuking Perth and Sydney gains.
Perth is up around 3% from the 2010 highs, rents are crashing and you sit there spriuking cause you bought a house or two not long ago for your daughter. Are you paying her mortgage to skamy. The fact is , you have bought at the height of a ponzi scheme bubble .
And you think gen y will be richer than the boomers, they might think they have a chance still, only if these idiots are completely viod of all around them.
The fact is , Perth prices are the biggest most unsustainable bubble out of every single capital in Australia.
Most bulls are stuck in yesteryear, praying on a repeat of the last 20-40 years. But we csn see in most western economies that things are nothing at all like the last 20-40 years and things are falling aprt like we ha e never witnessed in our lifetime. Lifelong jobs that supported generation after generation into home ownership are now gone FOREVER. Ford and holden have been going for nearly a century in this country, they are now closing their doors. Dont remember ANY other GFC suffering country losing their car industrylike we have. What will be the repercussions of that ? We have nothing to gauge it off because NOBODY has lost theirs.
Well the first Gen X were born in '64 say so they would have about 50 % home ownership rates by the time they were 35 ie in 1999. They would have started purchasing about 10 years before, so 1989 but most were probably delayed by the huge interest rates and dreadful lack of confidence present at that time.
You think that 50% of GenX were born in 1964?
And you think that they started purchasing houses in 1989, two years after the worst stock market crash in over 50 years, and just 3 years before Australian unemployment hit 11%, and youth unemployment hit 20%?
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Gen Y had a great market to buy into for most of their 20s and 30s. It is only the last few years things fell a bit, but now they are back to fantastic capital gains in Sydney and Perth.
90% of GenY haven't actually reached their 30s yet.
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Gen X will be much richer that the boomers when they get to our age IMHO, if they have managed to hold onto their homes through the downturn.
Between 1989 and 1999 when you think 50% of GenX purchased a house, who do you think they were buying those houses from? The Silent Generation?
Blondie, I have refrained from having a dig at you before..
But, while I find you to be very honest and you have shared some things with us like getting a tennant recently, which is great for the forum, sometimes the silly talk is a bit too much for the boys to have to put up with. It might be funny, amusing and accepted or encouraged on some womens baby/knitting/ whatever forum, but to put it mildly, its rather annoying. I would rather read one of skamys or shadows or even frank castles posts over some of yours, sorry nearly forgot Peter, only joking mate, buts its getting a bit that way.
So maybe you should either do yourself , the bulls and the bears a favour and maybe have a little break for awhile or come back to earth with your posts.
I know you are you and we cant change that or hope too or even expect too, but some of these things are like dealing with a silly little girl.
Please Blondie, have some consideration for others here and cut out the silly shit.
How's that saying go , If you ain't got anything decent or worthwhile to say, don't say it at all.
If its not a saying, it is now, one I wish many here would adhere to.
There is nothing on the facebook page that mentions the boomers.
Boomers are not evil and thee is vast inequity in the cohort as they are the biggest cohort to experience divorce.
The 10 point plan, of which you can only read 8, is simplistic and does not really address anti-speculation. CGT on all property held under 10 years, inc the PPOR ( exclusions for health, babies and work reasons) and a land tax would. The change in CGT would also see stamps abolished.
Boomers are not evil and thee is vast inequity in the cohort as they are the biggest cohort to experience divorce.
It's been interesting watching it unfold:
Boomers - The last mob to still be a bit boring/staid/inflexible in our thinking regarding marriage and relationships and kids (the cheese cloth wearing free love hippy types aside) - But what got smashed regardless.
Gen X - The mob that first started to reckon that while having a partner was still OK, kids were/could be a hassle/weren't worth the effort.
Gen Y - The mob that has started to question if even having a partner is worth the hassle/effort.
PS: I despise Socialism Paulk.
A Professional Demographer to an amateur demographer:"negative natural increase will never outweigh the positive net migration"
CGT on all property held under 10 years, inc the PPOR ( exclusions for health, babies and work reasons)
Why ten years? Why make all property CGT free (as I think you've said in the past) after ten? It just encourages people to hang onto property for longer than they may otherwise. eg - I happen to buy something in an area that gets rezoned after owning for 4 years (or anything else that would dramatically increase it's value), let's say a 4 bed house. At year five I no longer require a 4 bed house but a 1-2 bed home - I'm hanging onto it and keep living there for another five years to not pay CGT.
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and a land tax would. The change in CGT would also see stamps abolished.
All states already have land taxes. To get a change in CGT dependant on abolishing SD would require all states to agree and our federal parliament to agree. To get all states and our two federal houses to agree is a monumental ask. It failed when GST was supposed to eliminate stamps. It would most likely fail again, and again.
Pauk, I'm glad you registered - I can now see all your posts. While I rarely agree with your mantra, it's often a good start for a housing policy discussion.
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