WPP is a company that won't be common at the BBQ, but it's the world's largest media and advertising company. They recently required Vice Magazine who are taking on YouGov by running representative polls of younger people. Here's what the mites think of their lot when it comes to housing. Miserable sods compared to the old farts.
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Housing is a contentious issue – most people reading this are probably renting from a horrible landlord or still sleeping in their childhood bedroom – but it's certainly one of the topics that will define our generation.
A large proportion of us believe our living situation has been affected by gentrification (71 percent), and if you're living in a city, it definitely has. We're also aware of how f***ed we are: when judging the fairness of the housing system on a scale from 0 (not fair at all) to 10 (completely fair), nearly a third (29 percent) scored 0. Only 5 percent of young people gave a score over 5, meaning that 95 percent of you think the housing system is unfair.
After years of being messed around by estate agents, your nerve has finally been broken. How do you feel about the suited little berks who take a fat cut of your low salary every time you move flat-share? A huge 62 percent of you said you dislike them, with a significant 27 percent of you choosing "strongly dislike". Unfortunately, seeing as we'll be renting forever, it doesn't look like we'll be able to escape them in a hurry.
One small problem I have with the article Terry....
I don't know any late teens and early twenties who aren't set to inherit a fortune. Well a fortune by my standards anyway. Many are already receiving the dividends of 3 to 4 generations of stability and wealth build-up since WWII.
Ok, perhaps they are locked out now, but I can assure you they (the parents) aren't taking it with them.
WPP is a company that won't be common at the BBQ, but it's the world's largest media and advertising company. They recently required Vice Magazine who are taking on YouGov by running representative polls of younger people. Here's what the mites think of their lot when it comes to housing. Miserable sods compared to the old farts.
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Housing is a contentious issue – most people reading this are probably renting from a horrible landlord or still sleeping in their childhood bedroom – but it's certainly one of the topics that will define our generation.
A large proportion of us believe our living situation has been affected by gentrification (71 percent), and if you're living in a city, it definitely has. We're also aware of how f***ed we are: when judging the fairness of the housing system on a scale from 0 (not fair at all) to 10 (completely fair), nearly a third (29 percent) scored 0. Only 5 percent of young people gave a score over 5, meaning that 95 percent of you think the housing system is unfair.
After years of being messed around by estate agents, your nerve has finally been broken. How do you feel about the suited little berks who take a fat cut of your low salary every time you move flat-share? A huge 62 percent of you said you dislike them, with a significant 27 percent of you choosing "strongly dislike". Unfortunately, seeing as we'll be renting forever, it doesn't look like we'll be able to escape them in a hurry.
Terry this is an article about the youth in the UK where they have Brexit and other issues that we don't face here.
You could try referencing this article - https://www.themonthly.com.au/issue/2016/march/1456750800/richard-cooke/boomer-supremacy but to be honest I find that article a confused attempt to blame the boomers for everything, when Mike Baird isn't a boomer and Gen X and Gen Y could easily change the lockout laws in Sydney if that's what they want - they have the numbers.
Take risks - if you win you will become wealthy, if you lose you will become wise
Terry this is an article about the youth in the UK where they have Brexit and other issues that we don't face here.
You could try referencing this article - https://www.themonthly.com.au/issue/2016/march/1456750800/richard-cooke/boomer-supremacy but to be honest I find that article a confused attempt to blame the boomers for everything, when Mike Baird isn't a boomer and Gen X and Gen Y could easily change the lockout laws in Sydney if that's what they want - they have the numbers.
Yes, it's a census with 2,500 18-34-year-olds living in the UK to explore and document what life is like for young people in Britain in 2016.
It's not an attempt to "blame the boomers" for everything; it's a census on how they feel about their lot.
One small problem I have with the article Terry....
I don't know any late teens and early twenties who aren't set to inherit a fortune. Well a fortune by my standards anyway. Many are already receiving the dividends of 3 to 4 generations of stability and wealth build-up since WWII.
Ok, perhaps they are locked out now, but I can assure you they (the parents) aren't taking it with them.
likewise, there are a lot of people who won't get much in way of inheritance either .. Aged care does not come cheap which reduces values of assets that can be passed down and it will only get more pricey as boomers move in.. Makes it tough for the less affluent
3 to 4 generations of stability and wealth build-up since WWII.
Garbage. Economically, they're in the netherworld and there is no "stability." They're living in a new paradigm of instability with a bunch of leaders they have no trust in and a media-saturated society where the only sound they here is their own echo.
The system boomers grew up in fostered forced financial discipline.
High cost of money forced down asset prices and encouraged savings. Couple that with high energy cost which translated to expensive consumer goods and international travel or even local vehicular travel, and there's no other place to park your money but homes.
The complete opposite of cheap money and cheap oil. I can't blame the youth for travelling and gaining life experiences as it's the only cheap thrill one can spend on these days. They seem to be foregoing consumer goods despite the cheap Chinese junk but that may just be the result of not owning their own home (and the need to fill it with junk) what with the high price of real estate.
It's all about behavioral economics at the end of the day. Goodharts Law states that when a metric becomes the object of policy, it loses meaning as a metric. Central bankers are fiddling with all sorts of metrics which are causing the opposite behavior they intend to foster.
One small problem I have with the article Terry....
I don't know any late teens and early twenties who aren't set to inherit a fortune. Well a fortune by my standards anyway. Many are already receiving the dividends of 3 to 4 generations of stability and wealth build-up since WWII.
Ok, perhaps they are locked out now, but I can assure you they (the parents) aren't taking it with them.
Reverse mortgages will ensure their parents have nothing to leave behind.
WHAT WOULD EDDIE DO? MAAAATE! Share a cot with Milton?
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