Alan Dugdales Moustache
Well-Known Member
People rented TV etc because they couldn't afford to buy them. Its not rocket science.Again assuming that all older people made the calculations on affordability and no younger people do. It's lazy assumptions. Why did those people rent a TV/wireless/white goods in the 50's/60's? They were unnecessary luxuries. What about those people in the 50's/60's that were the 'Carnaby St' set spending huge amounts on fashionable clothes? Others that would spend a fortune in places like record shops? There are people on here who talk about loads of gigs they went to when they were younger - how is that not a luxury expenditure? Trips to the cinema to see films were frequent. If everyone was so poor and scraping by paying their mortgage how were such industries able to survive, let alone be thriving as they were? There were people then who were profligate with money just as there are now. Just as there are plenty of people now who are careful with money as there were then. Difference is that those that want new things and to show off now can do so for everyone to see on SM. The ones who are quietly going about trying to earn an honest living to have that 'normal' life and raise a family aren't courting attention so you don't hear about them. But they exist and there's LOADS of them.
So let's take the ones where the mortgage came first. Do you assume the same is not true today? Except for most people it's rent, because they can't get a mortgage. They try and save to get a deposit together so they can get one but wages are going down in real terms while house prices rise above inflation. So by the time they've raised the amount they needed when they first started saving the amount they actually need to save has doubled so it feels like they're chasing an uncatchable target. Whereas back then the amounts required for a deposit were much lower, if any was needed at all because with secure jobs lenders were much happier to hand out 100% mortgages than they are today.
Then you take into account the fact the older generation either had free higher education along with a grant and the ability to sign on while a student, or it wasn't necessary for them to earn a decent living, could leave school get a well-paid secure job in a factory and that was them sorted. Nowadays it's almost standard to require a university education just to be considered for a low-paid entry level job which will hopefully lead at some point to a more well paid one unless you want to spend your entire life in minimum wage dead-end roles. And that isn't free anymore so they've got that to pay for along with all the associated costs. And if you're doing that you're reducing the time available to work to get the money to pay for it. So many have to resort to student loans which need paying back, and the level of debt they incur doing so affects their credit rating making it harder for them to obtain a mortgage. Not to mention the profligation of the buy-to-letters who can afford to gazump them on anything they can afford because as a business they can raise more capital. So then those youngsters then have to rent these houses off them for a bigger monthly outlay than a mortgage repayment would be so they've got somewhere to live, giving them less ability to save to get a deposit for a house. It's a vicious circle.
What's Carnaby Street got to do with the real world ? Do you think people in fashionable Carnaby Street were financially at the same level as those working in shops, offices and factories around the UK ?
Yes , they went to the cinema and the theatre, shock horror. It was a treat.
Are mobile phones and netflix a treat, or a necessity?
Lenders were happy to give 100% mortgages back in the 50s and 60s were they ? That's news to me .
I suppose they didn't even have to go into their local bank and sit down and discuss it with the bank manager. No. That never happened. Its all a myth.
You write a lot but where do you get all of this nonsense from.
You ought to interview someone in their 80s and establish the facts.
Last edited: