Generation gap

[Seany88]

As mentioned in this article

http://www.thisismoney.co.uk/money/pensions/articl...

I've been thinking this for some time, I hear a lot of people in the older generation saying that us, the younger generation, have never had it so good and of course the time old stories about 'when I was a kid we had to walk 5 miles to school, BAREFOOT! etc' but I believe it's the other way round.

In these times yes we've got cheap credit to load ourselves up on, endless amounts of materialism to spend our money (credit) on, but there's no value in these things - kids get so bored of things so quickly it truly is a throwaway society.

In the baby boomer generation they got massive house price increases which has, in my eyes, been the biggest source of their wealth. This always seems to be implied that they made 'astute' decisions, invested wisely in bricks and mortar, and saved hard. Yes they did save, and yes it was a good idea to buy a house to live in, but the huge profits made from house prices was merely from the unprecedented explosion in credit which the current generation are suffering the effects of - in terms of unaffordable housing, low interest rates on savings, no money! Am i wrong?

[jonny70]

article in Todays Times saying ;IMF say Britain has overpriced housing which will cause economic problems

http://www.thetimes.co.uk/tto/business/industries/...

[bogie]

nah, youre not wrong ...the last 30-40 years of debt fuelled craziness certainly led countries to believe they were richer than they were, let alone individuals

and now the next generation (or two) will have to get used to a more austere, sensible way of living and using finance

we couldnt live forever in the "buy now pay later" world, because sooner or later, someone has to actually pay

[raptor600]

You are right.