Is the Generational Wealth Divide really just a Class Divide?

[@Kactus_Kris]

"its class based" "it always has been" *astronaut meme*

[@TheCommentor-]

Class in the financial sense not the British cultural type of class

[@aceman0000099]

​@@TheCommentor-bro did you really think these two types of class are actually different? I have some bad news.

[@TheCommentor-]

@@aceman0000099 yes, in the uk class system you can get rich as working class but you will still be working class, whereas in the financial sense you are no longer working class

[@aceman0000099]

@TheCommentor- no, not really, unless you were some kind of drug dealer or lottery winner or whatever I don't think you could reasonably be considered both rich and working class. Maybe I'm just thinking about it differently

[@TheCommentor-]

@@aceman0000099 look up "Gary's economics" hopefully this will change your mind

[@weeksy79]

There is a whole new divide coming; the interest rate divide. A huge swath of people that were able to accumulate assets at extremely low cost and have upped the barrier to entry for everyone else. Hence you end up with 50 somethings paying £500 a month on their mortgage, going on three holidays a year. With 30 somethings next door on the same salaries paying £3000 a month and racking up debt.

[@Christoff8188]

Genuinely disappointing to see so many people willing to pay such high interest rates. I simply held off, and have been able to invest elsewhere instead. Yet, most people refused to hold back, forcing a hotter housing market to persist. There was no housing correction, as there should have been. Alas, I'll still be able to lock in a low rate in a few years with a 50-70% LTV, because I chose to wait.

[@weeksy79]

@ willing? Shelter is a basic human need, we don’t have much choice.

[@aceman0000099]

What kind of properties are you talking about? I pay £610 per month for my mortgage I got in January this year, first time buyer. My rent the year before was £800. The banks wouldn't ALLOW me to get a mortgage that cost any more, this place is worth 4.5x my salary. When you say 3000 a month I'm assuming you're on about the super rich, buying some London penthouse or maybe trying to pay it off in 10 years instead of 30 (40)? Let's do some maths here. If we say interest rate is 4.5% and they're paying 3,000 per month, and "getting into loads of debt" i.e. struggling even to pay off the interest alone at 3,000, on a 30 year mortgage - the house is worth approximately 2 million pounds. Like come the f** on man what

[@weeksy79]

@ wow, you could not have made my point any better if you tried. You think £3000 a month is the super rich, when that’s just for a £600k house, aka a three bed semi in the South East.

[@chrishart8548]

​@@weeksy79 I was going to say £1000 a month is a £200k. House. A one bed detached property would be £200k now if you could find one.

[@olliejarvis1200]

I'd argue that being a home owner sours you as a human. What were once immensely frustrating barriers to entry (prices, inflation, an indefinitely appreciating asset) become a way to pull up the ladder to the next generation. I.e, you can remark that the price you had to pay was unjustifiably high, but it's okay because the next guy is going to pay even more than you did and you make a return. It's this 'screw you I got mine' mindset multiplied by millions upon millions of people that's the issue. Whatever class you're in, no matter how wealthy you are, it's ultimately greed.

[@MustbeTheBassest]

💯

[@ZachLDB]

China was starting to see this happen and they stopped it instantly. This is why the western bank owned media flipped out about a supposed housing crisis there. They basically made housing a right and stopped the runaway crisis the west is experiencing before it happened. Good for citizens, bad for bank investors.

[@SilentEire]

I see where you’re coming from, but I disagree. Wankers are gonna wank, regardless of if they rent or buy. Good people don’t suddenly become bad because they have a mortgage

[@gnowos9111]

Housing as an investment you must make a net profit out of has been a disaster for society.

[@jo-mi4966]

Does this mean that all homeowners are sour humans? That's quite a statement to make. Does that make all non-homeowners salty humans?

[@NorfolkCatKickers]

And yet the news is obsessed with how unfair it it millionaire farmers have to pay half the inheritance tax that everyone else does.

[@jkamin88]

What Millionaire farmers with the cost of Maintenace for machinery, watering crops or for animals, feed for certain animals, taxes for land the farm is on, powering the machinery, fuel for vehicles, and vet visits and with currently the cost going up and the farmer paying monthly or yearly slowly money in the pocketbook is going down.

[@aceman0000099]

​@@jkamin88 that's the cost of running a farm... If you can't afford it then you're running it badly. Just raise your sell prices for a start 🤦‍♂️

[@jackoat03]

@@aceman0000099 if farmers raise their prices, cost of living goes up 🙃

[@morganoox3838]

The problem is it forces them to sell the farm to an evil corporation.

[@simonhopkins3867]

Millionaires on paper maybe.

[@Yavin4]

I made more money than my co-worker, but my co-worker was able to purchase two homes largely because of their parents. This robs the incentive of working hard and building careers. What's the point of it all?

[@ietomos7634]

You're co-worker has nothing to do with you. We all know creeps that get a car or a flat off their parents. They're the exception, not the rule. To address your first point; it doesn't matter how much money you make, it's all about how much you save. At the end of the day, if you want to give up and just dole out your wage to some landlord, go ahead. It's your loss.

[@thomasdwalker9696]

@@ietomos7634and we leave the people like me who have to rent.. guess we just get hung out to dry right ?

[@yungmentalproblems]

​@@ietomos7634how are they creeps. Id say they're just lucky

[@Vanguard_dj]

Life isn't a meritocracy, no matter how borderline religious we've made the idea.

[@Yavin4]

@@ietomos7634 Wrong. It's the rule, not the exception.

[@justinstephenson9360]

The video missed something very important. Having parents who are asset rich, usually because they have a house which has massively increased in value, doesn't really help very much because with people living longer you may be in your 50s or even 60s before your parent dies and pass on their wealth to you via inheritance. What matters is having parents who have a lot of spare cash - or die when you are in your late 20s or early 30s

[@MinotaurvsCyclops]

Yep exactly. My mom's inheritance is worth around £1m (all in assets), but it doesn't mean anything at the moment because I won't get anything until then, at that point I would hope I don't need it anymore.

[@matthowells6382]

Exactly, though my parents were recently able to help me with a deposit as they’d both taken their cash lump sums from their pensions. That’s probably the best way for most people to have access to large amounts of cash, though it obvs depends on your pension situation

[@santostv.]

If their house is paid for already or have a mortgage at a cheaper market rate they have higher savings rates thus they can pass their savings to their children or you can save by living with them and not paying no to minimal rent and thus your savings rate is still higher compared to someone renting by themselves , this is how it works in my country for decades and some even have more options like inheriting a home or their parents convert the first floor,garage,annex,basement ect into a house for them and the ultimate option is emigration. If your parents have none of that you are screwed tho.

[@justinjoseph8491]

If your parents own a home and have have a decent job, you are in a better position than someone who's parents do not, assuming parents help their children out by the same proportion of their wealth and income. A renting parent cannot help their renting children buy a house.

[@Osindileyo]

It does. If the assets they have is housing, you cam get it cheap or free, or otherwise, some of it can be sold and you have the help that way. Assests are just stored cash. They still have something that can be used to help. Help is help.

[@BadgerBoy59]

I mean, it's both a class AND generational divide. Those older generations were able to build wealth and assets - which have all increased in value over time - so therefore became middle or upper class. They're then able to pass-on that wealth to their children, automatically putting them into the same class.

[@WhichDoctor1]

but if people today were still able to generate wealth themselves through their own work then it wouldn't be as much of an issue. Those without rich parents would also be able to acquire assets themselves like older generations did, and the rich parents wouldn't feel as much of a need to help their children and would spend more of their money on themselves instead. So it's the fact that our economy is moving away from earning money to become wealthy and back to having to already own money to be wealthy that is creating both the generational and class divide

[@HansChucrute88]

My mom is a hag, even though she in her 60s and I'm in my mid 20s she will live more than me for sure. I'm just above minimum wage, even though I have a college degree, and do uber as a gig on the side. My mom has a passive income though rents, pensions that is 14 times mimimum wage. I have 2 sisters, and much of her wealth has been build after she married my stepfather, he has other 3 sons. All above 35. Probably I will be in my late 50s when I get any inheritance and will be divided by 6 people, all above 60(I'm the youngest). So basically I will be already old, and get not so much.

[@jayviolentmob8309]

@@HansChucrute88 It's still not a generational issue, so much as a class one, is the point. Back in the day you would have, on average, have been able to make your own way, even without your mom's support. You wouldn't have had to struggle after getting a degree. You wouldn't have needed a side gig. Because back in the day a single average job would have been enough for you to get a mortgage. The economy has changed and forced a class issue, not a generational one. I had a landlord who was able to buy a 3 up 1 down house on his single income working a standard job at the post office. ANd he came out with a wonderful pension too. No help needed from his folks. Basically, it's not your mom's fault. "It's the economy, stupid."

[@TW0man4RMY]

@@jayviolentmob8309 NO, it is a generational divide because the problem stems from the debasement of the currency by Nixon and older generations actively went along with it and continue to do so by ignoring the original cause of the problem and their hand in ignoring it because of hoping they could get rich easily over the resulting property speculation.

[@XeNeXX]

pensioners have also had 60+ years to purchase the things they need in life - games, decorations, coats , blankets etc etc - they had 60+ years to buy it ALL for WAY CHEAPER than they would cost today - i have 0 sympathy for those whove had 60 yeares to prepare and havent - my sympathy goes to everyonme else who hasnt had thaty luxury and who earns less than they did decades ago (in real terms) - everyone else is cold too - if only they say, had 60 years of experiecne to draw on and buy a bastard blanket

[@patrickglenn4038]

Didn't think we were allowed to use this particular 'c' word these days!

[@Pobotrol]

They'd like us not to.

[@sagm5674]

Split the population 50/50 on all social questions (migration, energy, gender, sexuality..) except class. We shouldn’t talk about class

[@WhichDoctor1]

@@sagm5674 i hear class talked about all the time in feminist and queer spaces. You can't understand inequality without it. I think it went out of fashion in the mainstream with new labour. But it never went away

[@tomasvrabec1845]

That's ridiculous. Class is a commonly used word everywhere, including public sector.

[@Talisguy]

​@@sagm5674 Well, those things all play into class. For instance, BAME people had a much harder time accessing council housing in the early post-war years, which meant that the beneficiaries of the Right to Buy scheme were disproportionately likely to be white. The people who benefited became property owners and had increased financial security, leaving people who couldn't benefit to face the same housing crisis as the younger generations. You can't separate them from each other.

[@Chrisjenl]

The big problem is that a house is a great investment. A house is a investment and not anymore a home.

[@methyleneblue4659]

No it's not. It's a liability.

[@NAYRUthunder99]

​@@methyleneblue4659all those poor landlords full of liabilities 😢😢😢

[@charlieduke1627]

The upper class is another word of aristocracy and rest are just ordinary people. We live in a medieval period of 21st century with advanced technology and medical care.

[@poultonreal]

The baby boomers have been well looked after by the Tories. Millennials like me will be paying the bill.

[@chiefbeef9905]

Whilst I'm extremely grateful to have parents I can financially rely on as a uni student, it still feels pretty shitty to essentially still depend on them despite having a (part time) job and living away from home. Obviously its better than going hungry or having a job with so many hours it affects your study/ essentially removes your social life, but it tells you a lot when even the fortunate aren't really happy with where we're at. In summary, yes it's nice to have parents that can pay your way through uni, it doesn't mean thats a good thing, its symptomatic of a broken system when leeching off your parents is the only way to be "independant" without serious sacrafices.

[@finnle5432]

Without a push from my parents, I would not be on the property ladder and would now be paying more in rent than I do on mortgage repayment. It's more expensive to be poor. I'm lucky and I acknowledge it's extremely unfair.

[@g3523jaen]

Yeah... My parents don't own anything... So I'm fucked... Left the west (I'm from europe) to try my luck and will probably be able to buy in a few years....

[@DummyUseless-er3dn]

So sad that your parents don’t own anything and yet had kids. Let’s hope you don’t do the same mistake

[@Tommyleini]

@@g3523jaen Where did you move to?

[@HoneyTwee]

​@@DummyUseless-er3dnso only the rich should have children? Sickening comment.

[@MustbeTheBassest]

​@@DummyUseless-er3dnwow... Just wow. Lol

[@keech100]

As a mortgage broker - I am amazed how much parents give to there kids - I have several clients given 300K+ to buy a house (sometimes second homes) from parents. ive bought my own but my dad wouldn't even be able to help me pay for a moving van

[@OnlyYato]

From someone who was originally saving to just be able to afford a home. I've mentally checked out. I still to save but honestly dont take it as seriously as I use to. I spent years saving money to be able to afford my own home but part of the problem is just how long and how much you're willing to take. In the grand scheme of things it makes sense. But when you start to also learn about the harsh reality of how expensive things are, how lonely it is and honestly how mind numbing it is. Theres a point where you just crack and cant do it anymore. Along with the fact youre in a toxic household where you dont have a supportive parent that just uses you then helps you. And you give in. You either need to have supportive parents, have an incredibly set code to focus on saving substantial amount of money for 4-5 years. Or be incredibly hard working at your job in these tough times to ear wage growth to get to owning your own home faster. None of those applies to me. And I can say I'm pretty done trying to make it all work

[@Aubrey2004-j4k]

Yeah true

[@dalebraithwaite6890]

@OnlyYato I did it, I lived in a rough area, had long commutes, and I didn't go out drinking or smoking, and I took as much overtime as available averaging 60hr weeks for 11 years, I ate bland food and I drove a 2004 3 door citoen c2 for 8 years, I'd get my hair cut every 6 months and I had one hobby which was a £15 a month gym membership. I sacrificed, and I worked hard, and by the time I was 29, I bought my own place. I did this as a millennial born in 1993 and am the sun of a factory yard worker father and an unemployed mother, I didn't go to uni and I'm on the autistic spectrum and have dyspraxia. My parents gave me nothing. Don't just check out cause you think you can't do it. You can, let today be the day you start the grind

[@rezza6]

​@@dalebraithwaite6890Some of us choose to actually enjoy the fruits of our labour instead. Hope a decade+ of missing out was worth all those lovely bricks you now get to call your own...

[@dalebraithwaite6890]

@rezza6 it certainly is, I hope the 4 decades you work for the fruits of your labour means you get to enjoy still having to work in your 70's.

[@rezza6]

@@dalebraithwaite6890 Oh I see. Having a mortgage payment rather than a rental must have put you in a different ballgame entirely. My misunderstanding!

[@tomasvrabec1845]

The sad thing is that a mere 20k, which is not all that much money overall, makes a mammoth difference. It means getting on the housing ladder, it means owning and paying to own (as you redirect rent into something you will actually own), it means more stability... And over all it can save more than 100k when the rent savings and investment accumulation is taken I to consideration. The problem is that that 20k is exceptionally hard to save. It's a difference between an under 25 buying a house (if they have it) and someone saving up to mid 30s to buy a house.

[@DummyUseless-er3dn]

True

[@jayviolentmob8309]

Bold of you to assume the house price to salary ratio will continue. Folks who do manage to buy should be well prepared for their house price to take a big crash/recorrection in the next decade or so. No guarantees.

[@HoneyTwee]

​@@jayviolentmob8309people have been saying that for years. Truth is is we've commidified land and housing and it's now one of the safest investments you can make. It's not going to crash and honestly if it did i'm not so sure it wouldn't take half the economy with it.

[@00dude3]

20k won't be enough for a deposit

[@RFXZ67966]

Is 20k hard to save? Many people I know under 35 have £10k+ cars and are spending £2k a year on holidays

[@johnnyboyvan]

Parents are the key to future wealth or debt. The higher the class, the higher the likelihood of remaining well off.

[@oldskoolmusicnostalgia]

Yes, and that totally destroys the meritocratic myth of Western nations.

[@bleakryan]

The system is broken.

[@punklesam94]

The one thing I fear for the younger generation is the increasing frustration with homelessness, inequality and poverty as costs keep on soaring... Mass defiance is nigh.

[@lightningstrike5024]

why do you fear that? sounds like liberation to me

[@punklesam94]

@@lightningstrike5024 Well, is there any other reason to fear for how much worse it'll get before the next generation will be living in? Please give me some answers, I'll be waiting...

[@lightningstrike5024]

@@punklesam94 for some there might be, other have already hit rock bottom, ill be willing to take the pain for the high

[@allesarfint]

@@lightningstrike5024 When people are angry, opportunists take the stage, pointing fingers, making up existential threats and profiting from the chaos.

[@lightningstrike5024]

@@allesarfint and who says the people cant be the opportunists?

[@Dendarang]

On a macro level, to me this looks like the end of post WW2 general prosperity for all where everyone is middle class and a return to pre WW2 (or even pre WW1) sharply divided society. Right now it seems like a generational divide between those who grew up in the Cold War and its immediate aftermath and who were part of the general prosperity and those born after 2000 who won't be, this time of flux then produces sharp generational divide that's going ot disappear in a few generations and leave behind strong new old class divide.

[@E3ECO]

I was reminded of pre-WWI the more he talked.

[@guss77]

The key is "house is an asset that appreciates in value" - this "accepted truth" is what destroys the economy. If the *real* value (compensated for inflation) constantly increases - especially compared to real wage growth that has been stagnant for half a century (especially "young families" wage growth that hasn't been positive for some decades), it means that owning a house becomes less and less tenable as time moves on, but also as rents track house values - renters income % towards housing increases and their disposable income decreases - leaving more and more people in the "working poor" trap.

[@Dan-dy8zp]

And why should they always appreciate? Yes, there is population growth but that trend is tapering off, and houses get older just like cars. Home values have been increasing throughout living memory with population and zoning designed to make prices increase so people just assume it will continue forever. It realistically can't. Will the rich have 100 homes a piece?

[@guss77]

@Dan-dy8zp it's not about billionaires accumulating dozens of houses - it's about the upper middle class cordoning off access to house ownership from the lower 3 fifths of the populace by treating land ownership as long term investment for retirement and inheritance. It is exacerbated by life expectancy increase and housing stock not keeping up with population growth. It is unsustainable in that it will soon price housing out of the hands of working people, at which point there will either be massive government action, tons of homeless and death, or a revolution. This is not a UK issue - it happens across all industrialized countries, and governments are running out of time to fix this using small measures. The labor house stock repair plan is a good first move, but it's not enough and it's unlikely to fulfil its promises in either scope or time frame.

[@Dan-dy8zp]

@@guss77 Obviously it's not about billionaires accumulating dozens of houses. It was a rhetorical question the answer to which is 'no'.

[@martinzihlmann822]

THIS! Let's call it by the proper name housing-INFLATION. If it were to happen to bread prices there would be riots, but for housing it's somehow magically good? I'm not saying you can't speculate on a housing price rise, but I'm questioning whether we are better off as a society if that bet manifests as profitable. In my opinion the government should do everything in its power to make housing a bad investment, or in other words to make housing affordable. This means, no more "help to buy", "right to buy", LISA and other schemes, abolishing the lease hold system, deregulation of the construction business, opening up of the green belts, strengthening the rights of tenants, a punishing tax on empty houses and lots, taxing home ownership as virtual income, and a wealth tax to top it off. But no, instead we bank our retirement on further inflation.

[@martinzihlmann822]

In Switzerland home ownership is the lowest in Europe and we are better off for it. Housing is not "the best investment", it's not even that good, and no, renting is not "throwing money away, you don't need to own a house and a car to have children and no you're not a failure if you rent until your retirement. The UK somehow got blue pilled by Thatcher into "only home ownership can signal success", giving up the entire middle class for that dream.

[@5353Jumper]

Now, imagine the US where many families were not allowed to own a house a generation or two ago.

[@dabi-ngin]

Being a few days into living in my first property, which I could not possibly have afforded without support from the bank of mum and dad, I can confirm my experiences line up with this. I'm 28, have many colleagues older than myself not even close to being able to afford a property, and feel unfairly far ahead at this point for something I didn't really earn. Poor access to quality housing is really divisive and bad for social cohesion. We drastically need to get building and renovating older properties and do more to bolster wages for those barely able to survive month-to-month renting, unable to build any savings aside for a deposit.

[@donlocke]

Congratulations, I hate you. I'm just kidding, but everything you said is correct. It's destroying the social fabric of our society and creating a land of haves and havenots.

[@1nbp]

2:00 I’m a student studying at a London uni, currently in my fourth year. Before starting this year, I checked my student loan balance. It was above £70,000 and will be above £90,000 once I’ve finished studying. It’s crazy to me that studying costs this much, and I’ll have to get a good job to pay it off soon - owning a house/flat just seems like a pipe dream at this point.

[@Usagi1017]

You don't need to pay off student debt. Is not actually debt, is a more of student tax that very little people pay off completely. Student debt is the least of your worries.

[@djoldschool]

I own a house with my wife approximate value 650k. Problem is I have 16 years on mortgage left and 2 grown up kids who cannot afford to buy. The only way we can fix this is to have a far more progressive tax system (ie tax the rich properly) as well as building A LOT more houses to bring the prices down. I don’t feel confident about either happening

[@5353Jumper]

Actually tax capital gains instead of letting it all slip through loopholes untaxed.

[@djoldschool]

@ yeah but they’ll just hold onto the asset. There’s no easy way to pin these slippery fekkers down.

[@5353Jumper]

@djoldschool which is why we are talking about estate tax, so when it transfers to the next owner the capital gains are assessed and taxed (if not principal residence and if over a reasonable wealth value). (No estate tax is not on the entire value just on the gains since last taxation, it is not on primary residences, and it is not going to affect the vast majority of the working class at all ever. If it ever does it will be a small portion of what is being inherited and easily covered by cash assets of the estate or short term loan secured by the state).

[@davescott7680]

Beyond building more houses. They also need to restrict private landlord ownership, if wasn't bunch of investors snapping up houses before owner occupiers can. Else you'll build more stock and it'll just go to the rental market.

[@JonasHamill]

This seems more like 'Class divide is actually just a generational wealth divide'

[@edmundprice5276]

Capitalism requires a person to be in the right place at the right time with the right capital resources to act upon opportunities that present themselves. Now that the olds have had all the good opportunities they don't want the younguns to have equal opportunities, because they would become comparitively poor

[@5353Jumper]

Also a lot of it depends on avoiding bad luck. Particularly in the US but other places as well. No disability. No disasters. No injuries. Good parents instead of evil parents. Employer does not go bankrupt or have major changes affecting your career. No wars. You don't get excluded by some random bigot. There are a lot of things that prevent people from reaching for success, or knock them down soon after they get started.

[@thomaswikstrand8397]

Of course it's class. Anything else is just distraction. It was always class and as long as we accept social stratification it will always be class. Class awareness is the only way forward.

[@unamedjoe830]

I know very few poor older people... I know a fuck load of poor young and middle age adults.

[@Wingsaberrules]

I don't doubt that most pensioners are better off than young people, but they are still affected by the class divide. I work in Pensions and know both ultra rich people with multi million £ private pensions and those with just the state pension which covers their mortgage but not food or heating.

[@stuggaroy]

I wish houses in my area cost x9 my annual salary. They instead cost x20 times. I make above the national average.

[@AlexanderLHawkins]

@3:40 and it's right here where the improper assumption is made that this is an investment. It's not an investment, it's a home! And the sooner we lose this distinction the sooner we might get housing prices down to it's utilitarian value.

[@5353Jumper]

At best it is a saving account, locking away some wealth you can use later or pass on to your kids. At least today. If you had bought a house in the 80's then maybe you actually did make more on it than the interest from the mortgage and inflation. It may have been an investment. Not likely a house today will ever become an investment. Savings plan. Interest may eventually be lower than rent so saves expenses.

[@AppleAirsoft]

In the UK the wealth distribution is now worse than it was during the french revolution, the gap between our richest and poorest 10% is now, the US excepted, the highest in the developed world. And the rich will still be telling you its the fault of the poor people in a boat fleeing war and you will still buy their papers and still be poor. Blame the immigrants not the literal people making your life worse.

[@Bushflare]

No, *everyone* will tell you the people being trafficked into the country are part of the problem and the *rich* people will pay for mouthpieces that force an interminable argument between the proles over even the most transparently agreeable issues because that's what they've been doing since Occupy Wall Street. Doubling down on redirecting ire over oppression away from the factors which benefit the rich and towards factors which are ultimately inconsequential. If the left and right could just stop being stupid and agree "Yeah maybe the people traffickers are exploiting out asylum process and taking advantage of our good will." and "Maybe there's merit to exploring how race and gender affect the stratification of society." then we could actually focus on the real problems like the neoliberal hegemony wringing the lifeblood out of the country and throttling out freedoms out of us until the proles have no recourse left to resist. But no. Squabbling over inconsequential tribal bugbears is all we get.

[@mikecooper2566]

Unfortunately tackling the true root cause of the issue is to much thinking for the average person to do, so instead they just use a scape goat because that's much easier. That's the key issue here, people are not focusing on the true root cause because that would require them to think rationally and use a bit of intelligence, much easier for them to just blame a foreigner because "They said it was the foreigners fault on TV" or "I saw a Facebook post that said it's foreigners to blame for our problems". The world as a whole is heading towards a very dark place because of mass wilful ignorance but unfortunately it's not the first time and it won't be the last because no matter how many times we have to go through this crap, people will never learn from history.

[@barknbryce6993]

they both make our lives worse - but the rich cause the immigrants to come here and strain supply and push up prices

[@Diesel-bk1ie]

I didn't know France is having a war?

[@weeksy79]

Unlike the US though, the truly wealthy in the UK hide it exceptionally well. The general public doesn’t seem to have a clue what real wealth is, and thinks anyone earning £100k is the enemy.

[@theconqueringram5295]

Yesterday I was driving around town and I found a small tent encampment full of homeless people, but they had cars and clean looking clothes. I guess they're still employed, but either can't find or can't afford a home. I don't know, none of them looked that old. I live in the US, but still.

[@chrishart8548]

It's both can't find a home or afford one. The choice is almost nothing hardly any properties to let. And hence the ones that are available can almost change whet they want provided the tenant can prove enough income which is also getting impossible. £1000 a month rent means you need to prove £33k salary. Most can't meet this.

[@MustraOrdo]

Which part/type of US? City or rural?

[@yusaki8064]

It’s a class thing at least partially. I cannot afford to live on my own. If I couldn’t rely on my parents I would be homeless. Granted I do have some disabilities making things harder. But still, you shouldn’t have to be relying on your parents to live.

[@360trev]

Way too simplistic video. Costs of education shot up because it was decided in a think tank somewhere that "everyone" needed to get a degree, just to go and work in basic relatively low paid jobs, not McDonald's but not much better. This saddled the majority of students with huge debts from day 1. Many of those new degrees were totally useless except to earn the universities cash. Even dropping the title "red brick uni" Vs Polytechnic. Sad. Couple that with falling average wages, energy policy "suicide" linked increasing energy costs and over emphasized impact of green washing being placed on UK citizens as a burden that will make zero differences to the world overall but cause huge hardship to UK people. Add in increasing inflation and massively increasing immigration of the wrong kind, poor and not net positive financially (again govt policy) putting more demand on house prices you had a perfect storm. It's all linked. Houses are not some panacea to unlimited future security and wealth, as increasing interest rates, stagnated wages and lower quality of life standards become reality for millions of people. It was far easier for tech savvy young to just leave and go somewhere low taxation and growing like UAE. What a mess they've created. 😢

[@harryscull]

In my opinion this is also part of why rents prices are souring. Most of the 20 somethings renting one bed apartments in the properties I manage have the bank of mum and dad paying for all of it, or at least a good chunk of it. This means 20 somethings like me who can only rent what we can afford on a starter salary are being priced out of these properties and back into house shares. When student studios are over a grand a month in rent it is pretty obvious who is paying the bill

[@bobsthea]

blame private equity link to developer for these kind of thing

[@kennethclasen2175]

Meritocracy is slowly dying right before my eyes….

[@kaanboztepe]

unemployment data collection/calculation has changed so much in the last decades that it is not possible to compare it to the 1900s. also the starter job income and requirements have also changed dramatically

[@Gabes95]

generational divide makes class divide worse

[@annaaboltina7335]

Millennial here. I’m sorry but millennials are no longer “young”. We’re edging 40.

[@MustraOrdo]

Let them (us) cope in peace

[@gawayne1374]

C'mon, the conclusion is totally wrong. The fact that class divide still exists doesn't disprove the fact that the generational divide is stark. If rich kids have to ask mum and dad for money, that's still a sign of generational poverty

[@thomasbdl]

Someone’s been reading Eliza Filby’s “Heritocracy”.

[@Master_Failure]

College is not important. Training is. Trades make a LOT of money and those are solely about training. Many of them become business owners. Some jobs do require the training to be college, but you will find that they often do not pay as well because there are so many people available for those jobs (supply/demand). Maybe this is an unusual take for the latest generation (I am an older generation). But, also from someone making a comfortable anount of money without a degree (and children on variations of these paths).

[@justinjoseph8491]

This just isn't true, you need both. And someone with a degree will always be in a position to move higher up than someone who without one if they have the same training.

[@kyleolson9636]

Jobs that require college still pay far more than the trades, on average, but so many people who graduate from college will never get those jobs. I've seen studies claiming that a third of college graduates would have been better off without college. If we didn't push so many people into college, a lot less people would be struggling financially.

[@justinjoseph8491]

@@kyleolson9636 This doesn't make much sense as someone with a college degree is not disadvantaged in comparison to someone without one because trades don't require degrees. If you finish a degree before going into a trade you'll be more likely to get hire paying positions that require a degree.

[@kyleolson9636]

@@justinjoseph8491 It is true that if you get a college degree and then go into the trades, you're more likely to get positions such as project superintendent that generally pay far more than roles like master electrician. But not everyone who goes to college and then becomes an electrician will attain those highly paid roles. Many of them will plateau at the same level as their colleagues without degrees. The degree holders who do get those highly paid positions are part of the 2/3s of college graduates who get significant value from their degree. The degree holders who don't are part of the third who would have been better off becoming an apprentice right out of high school.

[@dorianodet8064]

I mean, header of the video : Young people can't afford shit. Lots of old people are loaded. Some young people may inherit wealth. How can you ask such a stupid question as "is it a class divide" ? It would be a class divide if children from affluent family could easily make it on their own due to better upriging/education/network/Whatever. But if the "class divide" is "Will an inheritance come". Then it's not a class divide, it's still very much a generation divide. If working full time, as a couple, can't afford you an house with kids, even while doing the most menial job, then we're talking about a working class genocide over time. Who'll be left to work when those that do don't live well enough to produce the next generation of worker ?

[@SamWilkinsonn]

The issue is the title’s a loaded question and a false dichotomy. There’s both a generational divide and a class divide and they’re inextricably linked (e.g. lots of old people have no assets and are therefore a ‘lower’ class but on average the older generation are better off.)

[@Maksimszz]

well there is a class divide? and always have been? I go to a prestigious uni and some of the people there already have parents who literally hooked them up on internships and everything so tell me how those people don't have an advantage over me in an ever growing competitive job market?. The wealth inequality for housing just makes the issue much worse

[@dorianodet8064]

@@SamWilkinsonn Yeah but the class divide is largely irrelevant here. The key issue adressed is that "Young people are unable to make it on their own". The fact that some people still can't, but benefit from a free ride, is not systemic, and not representative of a class divide between those young people, that's just it, a free ride. If you replaced this system by saying that "None of the young people can do it on their own but we'll draw lot and give the bare minimum to 20% of them at random" you would still call the system what it is, fucked, and suffering from generational divide.

[@Maksimszz]

@@dorianodet8064 I think the video tries to explain how a generational divide leads to a class divide in the long term, Its literally a no brainer that when you buy a house you save massively on rents therefore giving you more disposable income in the long term thus leading to a class divide within millenials and gen Z. The thing thats causing the divide isn't higher pay, But actually lower costs if that makes sense?

[@IAmConorr]

I think it's the right question to ask, it just hasn't really been asked in this video. The structure of social classes themselves have evolved and expanded to a point where the lines are so blurred it's almost a parody of itself.

[@Gh0stPred]

Soon as I turned 18 my family basically went, your on your own now... You're an adult you sort your own life out... I had no help from my family at all besides letting me live with them still till they kicked me out at 27 (because I couldn't afford rent on my own, have no friends who could afford shared accommodation, Couldn't live with strangers in shared accommodation due to my disabilities) so was homeless for 3 years with 0 help from anyone... I've been lucky enough to be in social housing now, but still I never had the "bank of mum and dad"... There's 0 chance of me getting my own property...

[@ChristieNel]

An even better measure of house price is number of hours worked.

[@SaintGerbilUK]

@@ChristieNel I've not seen any stats on this can you tell us more?

[@ChristieNel]

@SaintGerbilUK I did the calculations many years ago and came to 60,000 hours of work for the median wage to buy the median house, which includes the hours they have to work to pay rent while they save for a deposit, interest on the mortgage, taxes, etc.

[@dalebraithwaite6890]

Or is the class divide just a generational divide?

[@MattsMkia]

To attain upper-class wealth, a wise individual recognizes that building financial success requires smart investments, strategic tax planning, and informed decision-making. Although the stock market offers growth potential, effectively seizing these opportunities demands both skill and expertise.

[@Vincent-j8u]

Stock investments can offer great potential, but it's essential to approach them with caution. I recommend consulting a financial advisor who can help you determine the optimal times to buy and sell.

[@RaymondKeen.]

Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.

[@sharonwinson-m8g]

How can I reach this advisor of yours? because I'm seeking for a more effective investment approach on my savings

[@RaymondKeen.]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@TinaJames222]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@nevagunter3305]

For new investors: Buy stocks in solid companies and hold them as long as they stay strong. Ignore forecasts and market opinions-they’re distracting at best and useless in the long run

[@williambennington-w]

The key to strong returns isn’t quick-gaining assets but managing risk in relation to reward. It’s about maintaining the right allocation and consistently using your edge to reach your goal. This holds true for everything from long-term wealth building to short-term market plays

[@nevagunter3305]

That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks

[@williambennington-w]

Impressive can you share more info about your financial adviser?

[@nevagunter3305]

Yes i will and his name is Gabriel Alberto William, he is not just a broker, he is a financial adviser that give advice on any financial matters

[@williambennington-w]

Thanks for the recommendation and i quickly run a research online with his full name and spotted his website and i will email him right away

[@blackroseangel123]

Notice how it all goes to shit whenever we have a Tory government

[@ratchet2505]

We've know about this near to the end of the 90's and the credit crisis accelerated it.

[@00dude3]

I'm the youngest person in my team (30) and it's crazy how much money my team members (40+) all seem to have 2nd homes, maxed out NSI bonds, motor homes etc

[@gustavelauffer3568]

We need class consciousness and class solidarity to defeat the capitalist class. People need to respect themselves and understand that they do also deserve certain basic human standards.

[@ietomos7634]

What utter guff. If you want to succeed, you work. And then you work more. And more. If you're making coffee 35 hours a week, you'll remain poor till the day you expire. Struggle to be more, Struggle to earn more. It's difficult, but that's the point.

[@pigeon5700]

@@ietomos7634 Yes those that work hard will be rewarded but there will be those that will suffer because capitalism requires people to lose out.

[@5353Jumper]

Most Capitalism fans do not even realize that they themselves are not actually the Capitalists.

[@5353Jumper]

​@ietomos7634 some people work hard and "make it", some people work hard and don't. Some people cannot work hard due to disability or life situation, so do they deserve to be poor forever? Some people work really hard for things that will never bring wealth, should they also starve? Some people don't need to work hard for wealth it is just given to them, do they deserve it more than others? Some people do not have the freedom to achieve wealth because some greedy elite class people use force to ensure they never succeed. Hard work is only one small factor in a person's success among a long list of things that need to fall in place for it to happen.

[@martinthomson8666]

@@ietomos7634 im in the UK with a mechanical engineering degree and was working 7 days a week for months on end with a second job too, work dosent succeed anymore for the younger generation

[@Kris_96]

I mean it still is a G. divide because those people could buy on their own, we need to rely on others for help. Yes some also got help from parents but they didn't need it, they could've actually saved and afforded.

[@forever_noir_2155]

It’s a class war god dammit-Fred hampton

[@josephharrison8354]

This is astonishing. I'm astonished right now. Truly flabbergasted. Utterly gobsmacked.

[@MisterM2402]

So are you saying you're rather surprised then?

[@josephharrison8354]

@MisterM2402 One might even say absolutely shocked.

[@LeviRobinson270]

I'm favoured, $60k every week! I can now give back to the locals in my community and also support God's work and the church. God bless America..

[@AUSTIN-k4k]

Assets that can make one successful in life

[@AUSTIN-k4k]

I. Forex 2.Stocks 3.Shares

[@AUSTIN-k4k]

forex is profitable and lucrative investment online

[@Gefshds]

​@@AUSTIN-k4kYou are right.

[@Gefshds]

But I don't know why people remain poor due to ignorance

[@hockysa]

I think something that needs to be taken into consideration is how safe and comfortable our generation is versus our parents or grandparents times. We’ve greatly improved the average standard of living but does look like it’s come at a large cost.

[@blablup1214]

Wouldn't say this is a class thing. I mean the children of rich parents also can't afford a house with their income.... The ones that can afford is STILL the older generation ...

[@Mitjitsu]

If you go back to the 1979 election. The most reliable indicator as to how one voted was their class. However, age was the most reliable indicator during the previous election.

[@IndustrialBonecraft]

Go childfree. Break the machine.

[@fireat40]

this is the best and most practical advice but sadly humans are emotional creatures and tends to make decision based on emotions which is a straight path to financial ruin. What is worst is the next generation keeps repeating the same mistake

[@meenatheman]

John Burn-Murdoch's dad taught me maths at school. Was an absolute legend! One of my favourite teachers growing up

[@simonmarshall3869]

More ane more jobs needing a degree when degrees were free. And they blame the kids for their own free ride.

[@IggysQuest]

Im surprised more people arent going for shared ownership properties. We bought a semi detached new build 3 years ago, 10k deposit, 40% of the property. Rent on the other 60%. We remortgaged 2 years later to 80% and will again to 100% in a few years. It made that barrier to entry so much easier to deal with. Were 1:25 drive from london (not that it matters to us as we never go there anyways, but important to some). Ive spoken to some many people in the last fea years that didnt even realise its an option. We had such a great experience with it all, now we own our own hi spec new home, in a lovely area and we only had to put down 10k. Some builders will let you buy as little as 10% to start off with like 3k deposit.

[@berry292]

I won't be giving my seat up for eldery anymore. While I'm paying full fare price to go to my part-time back breaking job. The elderly are traveling to the harbor to get on their 3rd cruise vacation whilst getting a discount on their public transportation ticket.

[@GoranNewsum]

Unemployment has gone down, it's worth remembering that a big chunk of this is zero-hours contracts, which means people don't have steady incomes.

[@ZerriJoseph]

Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️

[@parkereric6397]

I'm 37 and have been looking for ways to be successful, please how??

[@ZerriJoseph]

Sure, the investment-advisor that guides me is..

[@ZerriJoseph]

Elizabeth stark

[@AndrewMikel-js7qb]

Same, I met Elizabeth stark last year for the first time at a conference in Wilshire, after then my Life has changed for good.God bless Elizabeth stark

[@kathyfrederick7172]

Her services is the best, I got a brand new Lambo last week and paid off my mortgage loan thanks to her wonderful services!

[@neilbucknell9564]

One important qualification. It's not the class, it's the wealth of parents that is important. There are now many people who are in traditional upper-middle class occupations (teachers, university and college lecturers, some healthcare professionals in particular) who cannot afford to subsidise their children buying a home, and others in traditional blue-collar jobs, particularly the more entrepreneurial trades (building, electricians, plumbers for example) who can and do. There must be many in the former category who find this analysis galling. And Ben - IT'S GOT, not GOTTEN!

[@TwentyZZ24]

Picture this. If you have 2-3 properties from your parents, you are automatically in a better situation compared to a well paid doctor but I think solutions to this problem is worse than the problem. What should be done? Punish people for being successful and providing to their children?

[@zachweyrauch2988]

We could restrict and regulate the use of private property. For instance, in canada where I live, the property value growth since the 80s has allowed people who could only afford a single home for themselves to leverage debt into another home for them to rent out.

[@MustraOrdo]

I don't consider it a punishment when the [ultra] rich -rather earned or unearned, doesn't matter- have a responsibility (refer to uncle Ben's quote) to use all what they accumulated to NOT serve ONLY their interests and the interests of those closest to them. They would benefit far more by giving the right amount of help to those in need. It is crucial to know/study WHO are the ones really in need and what exactly can their expertise/funds do for them. Not only would this deliver greater profits/returns in their portfolios but they might attain something greater. And that something is a good name/reputation/legacy that would last a long time even after the giver dies. [insert Shrek quote after reading that fairytale book in the outhouse]

[@SidewaysIsDead]

0:57 I couldn't help but hear Alan Partridge saying this in Scissored Isle😂

[@morgan_kemp]

What happens when all the older people sell their homes and houses but cannot find a buyer who can afford to buy them? Major reset, perhaps?

[@bobeg749]

It is always asserted as an unassailable truth that hone-ownership is the route to wealth, but it simply isn’t true. Most buyers need a mortgage that becomes an albatross to pay off. All homes require continual outlays of money for upkeep, heating, insurance, etc. Most homes are outside cities which means the additional expense of a car and commuting costs. Then with a family you have the costs associated with childcare and schooling. None of this is a secret. Society needs to start building affordable apartment complexes for the vast number of people who simply don’t want the expense and burden of home ownership. Renting always gives you more disposable income.

[@to101md]

“Renting always gives you disposable income” Fucking what?! Where do you live that renting is less of a on-going cost than owning a house? You don’t have your own driveway so you must pay a permit fee to park or lose lots of time on public transit (if it even exists), landlord can charge more rent due to more tenants inside (if you have kids) and because of property tax your landlord is disincentivised from doing repairs/mold removal (etc.) meaning YOU now have to pay for medical bills as a result of your landlord’s negligence. Good luck suing them, you’re renting remember?!

[@normietwiceremoved]

And we're so fking concerned about equality in the workplace instead of giving people equal oppurtunities for upward mobility. Disgusting. Sick of it.

[@georgewright9914]

What TLDR forgets to mention is monthly mortgage costs & associated interest rates throughout the mortgage period

[@tomq6491]

I am sure I am not the only one to object to how the word "class" is used. In the one hand it is those from families of poor income, but it is also used to mean polite, refined, educated, cultured, decorum. The insinuation then is that those who are not born into wealth families do not have these qualities and never will.

[@dixieflatline1189]

Generational wealth.... I'm 56 - those families that were wealthy when I was a kid, their kids and grandchildren are wealthy & educated today. In that time "middle classes" have grown (in expectation if nothing else) and the working class has got relatively poorer (flatlined pay, things are more expensive). The thing that has hurt the uk is a) loss of council housing / good quality housing for working class families b) unrealistic expectations / aspirations. Aspirational thinking (PR / Marketing) has done more damage to our young than anything I can think of. As the Stones say, you don't always get what you want. But get educated and be paid for your intellect, you might get what you need

[@Osindileyo]

Nowadays aspirational thinking Is having your own home and not starving and freezing Why should people not have a comfortable and enjoyable life? Should we just accept not being able to make ends meet and give half our paycheck to some wealthy slob who lives without ever having to work at our expense? You're joking, right?

[@dixieflatline1189]

@ A universal truth is get an education and payed well for your intellect, not your labour. There is nothing unserious about that.

[@TrabberShir]

The wider generational divide in the western world has hit the "middle class". Britain may be more impacted along class lines, but it is useful to remember the general trend affects the entire western anglosphere. On average, millennials born to middle income families make more inflation adjusted income than their parents did at the same age, but have far less inflation adjusted accumulated wealth than their parents had at the same age.

[@DixieDaydreamer]

While there are lots of jobs that do require degrees, the problem is that most job agencies and HR depts simply slap "Require red-brick uni degree" on every single desk job and most of them, that's simply not true. I've worked in IT for 35 years and trust me you don't need a degree to work most IT jobs, some you do and some it's advantageous but most system admin type jobs you simply need passion, guidance and there you will get experience. I never even did A-levels and I've managed an IT career. I will never be management but I then I never wanted to be management as I don't want to be taken "off the shop floor". Every kid is now simply told "YOU MUST GET A DEGREE!", they get some Mickey Mouse cert and then get jobs that are nothing to do with it, just able to tick the "have a degree" box. Most it's just a waste of time and somehting they will be paying off until they're past 40 years old having killed any chance of being able to save money for place to live or retirement.

[@mark27432]

4:04 I love that your graph goes back to 1845

[@basvriese1934]

Sadly this is also a problem for democracy. Having housing be cheap and affordable is clearly great for a country as a whole, but there are definitely individuals for whom high houseprices is more advantagous. The housing market has been caught up in this and this results in a system where high house prices are great for people who already own their homes, because it means that their house goes up in value. This is a huge politcal problem that's going to create some serious issues in the future on top of all the damage it's causing now.

[@MustraOrdo]

Then it's really not a democracy anymore ain't it? If the vote of the owning/elite/ruling/pompous class comprised usually of %90, then what we're really dealing with here is corruption/cronyism.

[@cfehunter]

I grew up in council housing with my mother and my siblings. Went to uni, got a computer science degree, helped her buy her house and now looking to buy my own. I can imagine it's not as simple if you didn't go into a STEM field, and middle/upper class folks are going to have it a lot easier. I think the housing market is just broken, demand is massively outstripping supply.

[@antlermagick]

Now I wonder how many comments will call you 'biased' just for looking at the facts and analysing the cause of this crisis...

[@SaintGerbilUK]

You mean like how they completely ignore people who don't go to uni?

[@Maksimszz]

we all know the cause of this crises, I mean it was literally Margaret Thatcher who decided to sell off most of the housing stock and decided to leave the construction of homes to the 'free market'. Didn't really work did it?

[@Bushflare]

Or how they ignore the major factor which has increased housing demand and thus housing prices over the past 30 years?

[@Pobotrol]

More inheritance tax please!

[@MinotaurvsCyclops]

No thanks, me and my siblings are all broke, but if my maker ever goes - we'd all be ok. We all work, btw

[@teuschi]

I’ve got lucky with my house. Not long turned 25 and my first house should complete this a Friday. I’m on a low income but managed to buy 30k under market value. I currently rent for £800 per month very happy my mortgage will only be £622. I will end up overpaying the difference though.

[@angryherbalgerbil]

No it's not. My parents were working class, and my Dad was a steel worker in the 70s. They were married at 20, bought their home at the same time for £5k which is about £26k in today's money. Their house is valued around £100k today. So no it's not a class divide, or generational. It's the economy that over-inflates new homes and house prices. Among many other contorted economic barriers. Greed within banking and finance industries and corruption in government is part of the problem. That and the fact that energy prices hold people to ransom due to the providers being owned by global/foreign coporations. We also have zero exports and only the financial centre of London that still gives the nation some prominence abd purpose on the world stage. It's a dead nation. Our industries dies out and the culture denegrated masculinity and working men. With that goes most the science, manufacturing, and engineering. The things you need to keep a nation relevant on the world stage. We have classism, and it's partly what destroyed Britain. The aristocracy vecame that focussed on keeping the working class repressed that they chopped their nose off to spite their face and lost the entire purpose of what this nationnusef to be in the process. Not to mention Thatcher was working with the 4th reich WEF agenda to break the back of this nation just like Blair and Boris and all the other rotten apples. It was on her watch that credit cards and debt based financing was introduced. The moment you let usuary run rampant then you're effectively setting fire to everything. It's financial and political corruption that's the problem. If new homes were valued at £25k to £50k as they should be on average rather than the over-inflated prices they stand at, then it wouldn't be a problem. But no one wants the value of their home to depreciate out if greed mentalities, and by doing so are robbing their grandchildren of a life. Houses should be homes not "asset classes". They are for fanilies to live in, not a replacement for a broken financial system and a dead empire.

[@MustraOrdo]

The true comment right here.

[@notDelere]

You had a point until you started talking about the 4th Reich wef waffle lmao

[@RFXZ67966]

The big problem is people moving out at 18 or straight after uni. If you save that rent money (£600 a month), you'd have enough money for a healthy deposit after 4 years.

[@mydressmemos]

I would think that a major benefit of dividend investing is that calculating portfolio size needed is not relevant. We don't care about the value of the portfolio. We care about the sustainable income it pays. As you invest you can gradually see the income rise as you invest more and pull the retirement trigger when it's high enough regardless of the market sentiment.

[@amoreauMike-t6z]

Calculating the portfolio size needed is very relevant. - How else do you know how much to contribute?

[@mydressmemos]

By calculating how much additional income the contributions produce and estimating how that income rises. the capital value will fluctuate up and down over time so the amount of income new additions give you varies. so capital value being high with a market yielding 2% is no worse for retirement than the same portfolio at a different timepoints where the capital value is half and so the yield is 4%. so long as the yield is sustainable in real terms the capital value being half does not matter. its the same income stream at a different moment of low market sentiment vs high market sentiment.

[@richardhudson1243]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

[@JacobsErick-u8r]

I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?

[@richardhudson1243]

Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@RenoGerry]

There is not a generational divide other than what occurs naturally over a lifetime. However, the upper class has always used this as a diversion to pit young against old meanwhile they continued to lobby for more and more favors from politicians including helping bring their favored politicians into the upper class.

[@MindaugasKanaverkis]

buy children, settle down, have a house

[@chronosx7]

tl;dr: As things become more expensive having relatives with money is more of an advantage and the have/have-nots distinction become more tangible So increase _supply of_ goods through production and building on one hand and _demand for_ jobs through entrepreneurship on the other and things might reverse

[@The2wanderers]

That "historically house prices have always appreciated" and housing is now unaffordably are inextricably linked. In order for housing to become affordable again, prices have to drop by roughly half. Or wages need to double.

[@joshthecrusher2878]

I should be a permanent right to have a roof over there head, a right to have fresh clean water, the right to have heating too not frozen to death, to have a right to have electric to light the home and the right to have free education. But it comes increasingly evident that we are being exploited now only for our Labour and creative process but also being squeezed to the bone for any ounce of money. For evidence of this just look at the water companies shareholders that get paid thousands of money tax payer money, yet they're still in disrepair and polluting our waterways. not to mention the electric companies exploiting their position making us pay more than any other EU country. This has to stop before a country crumbles and the only way to stop this is a stand up, and that's why the saying eat the rich is not hyperbole anymore we literally want to eat the rich for their greed and blatant disregard for humanity

[@TheRealE.B.]

Historically, Bitcoin has gone up in price. The sooner you get on the pyramid... I mean, ladder... the better off you are. Of course, houses actually have intrinsic value, unlike Bitcoin. However, their "historical tendency" to appreciate faster than inflation has a pretty short track record on a civilizational scale, and many of the underlying factors behind that appreciation were one-time things. The paths to "profitable" home ownership have narrowed substantially and could easily disappear. That's not to say that older generations didn't make a ton of money from it. Just because the mine is empty now doesn't mean someone didn't get rich from it. And I ultimately agree that the resulting wealth gap represents a return to a more traditional class system, even if I disagree on what's a cause and what's an effect.

[@LordGreavous]

i can only imagine how many "finance guys" are raging at you calling a house an asset

[@equin9309]

The UK population, which was estimated to be 67.0 million in mid-2021, is projected to rise by 6.6 million to 73.7 million over the next 15 years to mid-2036. This may have an effect on housing. 🤔

[@stephanguitar9778]

The neoliberal financialised economy started this process, the process that is leading us back to sefdom. Thatcher started this in the UK and to accelerate the process sold off the council housing stock.

[@Bushflare]

Combine that with the consistent importation of a foreign serf class to displace low-skilled workers by Blair and subsequent governments and now Starmer's even going after the Farmers. It's so nice to see the parties can at least agree on who to screw.

[@Osindileyo]

​@Bushflare the numbers disagree with you. Paying people poorly is a choice, as is refusing to have wealth taxes. This issue would exist with and or without immigration. This is just what capitalism is all about, you are pushed and incentivesed to have as much as possible, especially when it comes at the cost of others not having said thing. Let's not use racism to explain a capitalism problem

[@Bushflare]

@@Osindileyo Citing numbers is meaningless in an argument without a source. I can say the numbers do not contradict me and it will have the same value because doubtless you expect the same low-information, ideologically-driven perspective from me that I see in you. Paying people poorly is only a choice in a market where employees have no other options. The issue would be dramatically easier to fix without mass immigration. This is not capitalism, this is corporatism whereby the government colludes with corporations to provide them the benefits and freedoms of capitalism and withhold said benefits and freedoms from the people. Whoever is teaching you about economic systems is misleading you intentionally or otherwise. Equating anti-immigration stances with racism is a thought-terminating cliche indicative of a lack of depth in your own perspective based on wilful ignorance of your opposition.

[@stephanguitar9778]

@@Bushflare Not going after the farmers. Going after the speculative land owners who bought farms to avoid tax, eg Dyson, Clarkson and of course the landed gentry who own most of the country. Also if these people stop speculating on farm land the prices will drop and the real farmers, or should I say their offspring wont get lumbered with inheritance tax. UK farming land is some of the best in the world but is poorly farmed because they dont have to. As for farmers protesting, why are they not targeting the perpetrator of low prices, ie the supermarkets.?

[@Bushflare]

@@stephanguitar9778 1) No, the boundaries for the inheritance tax are so low that they will affect a stunning amount of farmers, even the upper brackets, because the people who decided the numbers either do not know how much the assets on the average farm are worth or they are intentionally attacking farmers. If you want to hit landlords then you wouldn't have the boundaries so low that they would hit that many farmers. 2) Inheritance tax itself does more work to prevent the growth of generational wealth amongst the middle classes than it does the upper classes and it's already pretty immoral to tax assets which have already been taxed (often multiple times) because the owner died instead of using the many loopholes. 3) If you wanna have an argument about the disproportionate power that corporations like supermarkets have in the produce market let alone the local retail market I'm here for it but that's a separate issue.

[@FredrickMoss5374]

You didn’t factor in rural vs urban. Could be a lot of people in rural areas are able to buy homes earlier because houses are cheaper in the country

[@Im-LP]

It’s a work ethic thing imo. I’ve bought a house at 25, no money from parents, both me and my partner managed to save 75k of a 300k house. Never had any pocket money or such and been working since 16. Savings is so underrated by today’s generation

[@alexappsapp1332]

Right so the low wages, lack of housing and record unemployment totally has nothing to do with it... Modern generation just all collectively decided to be lazy millenials and gen Z'ers duh

[@Wind-oh-Wishp]

"both me and my partner managed to save 75k of a 300k house", that for a starter is not possible for most people because of high rent, hospital bills, living costs and taxes.

[@Im-LP]

@ I had rented for 2 years prior to buying, also when I was living at home I was paying my parents £400 a month had to buy my own food, car, petrol etc. never had any helping hands

[@zachweyrauch2988]

Im canadian, but for reference, my dad didn't finish high school and got a factory job. His wage was higher for moving boxes than my spouse, who was working as a nurse. I got a job temporarily at that same factory and was put onto a lower teir wage scale. I had to move across our entire country and buy a house with severe issues that won't be a functioning home for another 2 years. My dad bought a house in his hometown that tripled in value by the time he sold it and bought another house. Maybe its an anecdote... but how many people have similar stories?