Mauve Monkey's raison d'être

[DimPrawn]

Why Generation Y Yuppies Are Unhappy - Wait But Why

He's looking for his unicorn.

[PurpleGorilla]

Mauve Monkey's raison d'être

Look young people, us silver foxes took all the money and all the lovely big spacious houses with land in the best areas. It's been great and we're fooking loaded. . We don't want to hear your whining thanks.

Pretty weak article, no data to support it. Typical boomer vomit. Facts are pensioner's benefits are triple locked but the working poor are getting shafted to support it. Cutting junior doctors pay is a great example of this, as is the tax credits cuts. But housing is the biggest joke. BTL and foreign investors have raped this country.





"The extent to which housing is driving inequality and disadvantage is laid bare by the UK Housing Review 2015, published today (Monday 9 March) by the Chartered Institute of Housing (CIH).

Levels of homeownership are collapsing among young people but increasing among older people. In England, 66.5% of 25-34 year olds were homeowners in 1991 – a figure that dropped to 36% in 2013-14. Over the same period, the percentage of 65-74 year olds that own their own home has risen from 62.3% to 77.1%.

There is also an extraordinary gap between homeownership rates for different groups of people. Across Great Britain, lone parents or single people under pension age are least likely to own a home, while more than 80% of couples with no dependent children or over pension age are homeowners.

Rising house prices mean that net housing wealth in the UK has grown by £1.22 trillion (58 per cent) since 2003 – and more than a third of property-based wealth is held by households where the household reference person is 65 or older. This increase in wealth for older people has fuelled the growth of the buy-to-let market – with older households looking to supplement their pension income by buying more property, aided by access to interest-only mortgages which are denied to most first-time buyers.

This is creating a perfect storm, with older and already privileged homeowners buying more homes to rent out to those who are unable to compete in the housing market. In 2013-14 almost half (48%) of all households aged 25-34 in England were living in private rented homes – a proportion that has more than doubled from 21% in 2003-4. The trend looks set to continue, with some 1.5 million extra people aged 30 or under ‘pushed into renting’ by 2020.

And the problem is not just about access to homeownership - after housing costs are taken into account, rates of absolute poverty are rising for working age people, both with and without children. As the Social Mobility and Child Poverty Commission has pointed out, during 2010 to 2015 rising rents and mortgage costs have pulled an extra 1.4 million children into relative poverty."

http://www.cih.org/news-article/disp...housing_market

[BlasterBates]

A good guide to the different generations here.

Gen Z, Gen Y, baby boomers – a guide to the generations - Telegraph

the phrase Generation Y was first used in a 1993 Ad Age article, while Millennials was coined by sociologists Neil Howe and William Strauss. As well as being comfortable sharing their entire life online, this is a selfish, self-regarding generation. "Let me take a Selfie," is their catchphrase.
Maybe it is not surprising -- this is a group who were brought up and pampered by their Gen X parents, who soothed them to sleep with Baby Einstein tapes.

We now have Generation Z

unlike the older Gen Y, they are smarter, safer, more mature and want to change the world.

...no doubt rebelling by trying to be opposite to their parents.

[AtW]

What's after Z - Generation AA?

[greenlake]

What's after Z - Generation AA?

Sounds about right....