I often read comments on Mumsnet, saying that housing was affordable in a way that it isn't now.
If we take todays mortgage of £200,000 at 3% interest, a repayment mortgage would cost £11,376 per year. This equates to 42% of the average UK wage of £27,000.
In 1990, having left my husband whilst pregnant with my second child, and buying him out of the marital home, my mortgage was £40,000 and the interest rate 15%. Repayments were £6144 per year and the average wage was £13,760. This equated to 44.65% in mortgage costs.
And whilst I am having a rant, I am also fed-up of young people complaining that they will have to work until they are 67 before they can claim their pension.
With the majority of young people going to university, they don't enter the work force until they're 21, giving them a working life of 46 years.
My generation left school at 16/18, and we too shall work until we are 67. A work life of 49 years.
Earlier generations started work at 14/15 and retired at 65, a working life of 50 years, many of them worked in manual labour.
Each generation has their own difficulties and hardships. I shouldn't like to be starting out now; nor should I have liked to belong to an older generation.
Whilst being a single-parent, working full-time, was not easy, I coped; just as countless women before and after me have.
Can we please have a little more understanding of generations other than our own, instead of the resentment so often found on these pages?
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- to be fed-up of people thinking that my generation had it easy regarding housing?
198 replies
PUER125 · 08/02/2018 22:50
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