to feel seething resentment towards those who profited from the house price bubble and hot anger at the Governments who allowed it to happen?

[TartyMcFarty]

You'll have to forgive my naivety here - I'm ranting about something I don't really understand.

DH and I are stuck. In 2006 we bought a (modest) property on a 100% mortgage. Foolish in hindsight, I know, but based on the advice of our IFA, the unshakeable faith of our families and society that property ownership was the way to go, and the increasing pressure at the time to get on the ladder or miss out, that was the decision we made. We then found that the lender, bastard bastard Northern Rock were unwilling to remortgage based on our lack of equity, despite us having overpaid by several thousand pounds. We couldn't shift the place, and with the agreement of a different IFA, remortgaged against the equity in my DM's property (love her!). It gets more complicated than that, but that's all that's needed here. Now we still can't sell it , our tax credits have suddenly disappeared, my pension contribution has increased (DH doesn't even have a pension) and the tracker rate is slowly increasing. We're on interest only, and as I'm part time since the having DD, with another DC on the way, there's not much of a cushion.

What's really angered me over the last couple of days is the dawning realisation of how people just a few years older than us have profited from the massive increase in property 'values'. I'm still in touch with our ex-neighbour. She bought seven years earlier than us, sold at £120k profit after 10 years (this is not London!), her partner was in a similar situation so they have ended up comfortably in a property of twice the size, renovated to a really lovely standard. Obviously my resentment isn't directed at them personally - they're good people, have profited from a stupid market and good luck to them - but it's just an illustration.

How can we possibly hope to survive in a property market that boomed by more than 3.5x in this instance alone? We can't even afford to maintain our own home to a good standard. Pay isn't moving at all, and we're currently looking at less than .75 of a pension between us. I can't even bear to think about how we'll support our DCs through HE, and the risk to my DM's home if interest rates shoot up.

I just need a rant. Those of us stupid enough to be sucked in at high LTV rates towards the peak of the market are fucked all ways, whereas people just 5 years older than us are untouchable. I know I've only given one example for which I know the exact figures, but there are others I can think of in the same lucky situation. There just doesn't seem to be any point in trying when you compare our situation with those who profited so enormously in the 00s.

Planet redshield is a dark and gloomy and sinister place

Personally I think we should all be counting our blessings

And helping out the young 'uns if we can, because although we may not be as fortunate as the older generation, we're a whole lot luckier than the next generation.

In 1990 we bought a property in the home counties for 3 times the price we got for our property in the nE of scotland (and it had dropped by 10,000 in the previous month). Just a bog standard 3 bed semi. So had huge mortgage for small house and were hard up.

We moved to 4 bed property in 1995, so v hard up again. In 2001 we moved from home counties back to Scotland - hooray - moving in the right direction this time and bought huge country house for much less than price of 4 bed. A few years later paid off mortgage.

Swings and roundabouts.

Sorry, wasn't very sympathetic to Tarty.

But situations will change.

My DCs are in your position - buying property that may not rise in value.

Difficult to know how things will pan out in the end.

I agree with Redshield on that last point. We need to direct our anger and frustration towards those in power and able to legislate, not go round in circles with each other.

It's so deluded to think of 'market forces' and cycles of boom and bust' being like natural systems, tornados, droughts etc that we have no control over and just have to weather. . Markets are controlled and regulated. We've collectively voted in a govt who are exacerbating the housing situation in London with ill-conceived HB caps, for example. Housing needs to be right up there on the agenda at the next election.

YABU - is that how you put it? totally unreasonable to blame people who did exactly what you would have done in their position.

QUODLIBET.

You are correct, we need to direct our anger at those in power. The government need to be removed from power ASAP.

Its the system that is the problem and not the people.

The worlds economy relys upon fractional reserve banking and this is why the world is broken.

If people took the time to watch "Money as Debt" and "Money Matters" on youtube then they could see for themselves that they are living in a con that was created by a banking family.

There is a reason people are wearing guy fawkes masks, lots of people do not know their history.

They should learn it because it is about to repeat itself.

Shout as much as you want if it makes you feel better OP.

But us middle agers didn't go into it with the idea of buggering up the people coming through below us. We couldn't see the future back in the 1990s and a lot of us (me included) were paying the 15% interest rates in the early 90s. And we lost 10K on our first house, because like you we were stuck there.

I was lucky that I bought at the bottom of the market in 1996, but that wasn't planned, just pure luck.
I'm also concerned about HE for the kids BTW. But I'm not living with nothing now just so they can get a pot of money later. Either we will equity release, they will possibly get a bit from GPs house or failing this they can take out a loan and pay it back themselves.

My dad has said that he wouldn't like to be my generation. But I say the same to my own DDs. Every generation has different challenges. And us 40 something old farts have had our share as well.

A lot of us went through all this in teh late 1980's/early 90's. Hose crash, negative equity etc etc - and we had 15% interessst rates to deal with. The whole thing is cyclical I'm afraid.

CAMBRIDGE FERRET.

Where does it stop ?

Why do you have to release equity from your home just so your children can house themselves.

It is a basic human right to have shelter (The right to housing).

A credit bubble has been created to get the majority of the population into debt, the younger generation can now no longer afford to house themselves and in some cases are living in sheds, garages or summerhouses in their parents back gardens.

There are no empty council houses anymore, they are not building any new council housing but are in fact knocking lots of perfectly good houses down (This is achieved by letting a council estate get so bad it seems acceptable to knock it down).

The landowners of this country WILL NOT be giving up any of their land for people to live on.

The landowners do not actually own any land, they just say they do and people nod their heads and say ok its all your land.

Youtube, "George carlins the american dream" a short video that will explain everything you need to know about how the system works.

It works exactly the same way in britain and also greece any you are now seeing it actually play out in greece.

Its a big club and you aint in it.

The longest con in history.

WHATMEWORRY

People thing the boom and bust we see is cyclical.........its not, its been one long boom since world war 2 ended.

We have had a couple of blips along the way but overall its just been one big boom.

We are about to see the real crash and it will affect every aspect of our lives.

Redshield so the government that was in power from 1997 -2010 didn't contribute to the housing situation at all then. Did you want to remove that government.

Bows to whatmeworry and CambridgeFerrett Remembers paying about £700pcm on a £54,000 mortgage at one stage (something like that anway). In about 1990.

Recollects family stories - when grandparents nearly lost their farm/home because of death duties. When mother and father fled home town for Brighton because mother was 4 months pg and it wasn't respectable. They lived in a rented flat there for 3 years - might have been the seaside but it wasn't warm or comfortable. DH's grandparents always lived in tied accommodation and were beholden to the boss for their entire lives.

Swings and roundabouts, swings and roundabouts, swings and roundabouts and it wasn't necessarily all easy for previous generations. Remembers recession in early 80s when graduate unemployment was the worst on record - may still have been worse than now.

Something I do agree with Redshield about:

people often have the idea that though house prices have their ups and downs, there is always a general trend upwards. But that only works if you look at the last 50 years or so.

Redshield that is one view, but even the 1920's/30's had cycles.

The real problem is the rental market offers no reasonable alternative to buying.

I'm 40 this year. Was born to a 16 year old mother, single parent. We lived in council houses with no heating, no carpet and no furniture.

DH is also 40. Was born to married parents who worked in factory and cake shop respectively.

We worked fucking hard at school, went to university and bought a flat in 1996 because we couldn't afford to rent (yes, the mortgage was cheaper). We had no deposit so we borrowed some money from the bank on one of those cash back mortgages and paid it right back. We never had a penny from anyone. Left university with student debts. Husband has paid his, I've deferred.

In 1999 we sold our flat for 28k profit and bought a house. From the profit, we bought our first cars. We saved for 2 years and paid for our own wedding. Parents didn't pay for so much as a round of drinks. We extended our house in 2004, taking on a bigger mortgage. Sold it in 2011 and bought another house which we have remortgaged to renovate. We now have two kids, we have worked our arses off, we are knackered but we have a lovely 5 bed detached with large garden. Our kids wouldn't recognise the childhoods we had.

I sometimes wonder why we bothered. Aside form the fact we have ever had a penny from anyone (and never will), we paid for our own education and our own wedding and look set to pay for those of our children. We also look set to sell our family home in order to get them a foot on the property ladder or to pay for care in our old age. We ended up taking home similar 'pay' each month to friends who claimed tax credits we weren't entitled to. We pay £600 per month in childcare, which is crippling. We both work for the NHS and have had pay freezes for years. The pensions we signed up for are being torn to shreds.

I feel lucky despite all of this. I also feel awful for people even ten years younger - but I don't know how it could have been prevented. It's not fair. I live on an estate of large family houses populated by older people who have more money than they know what to do with. I think we've worked hard and deserve what we have - but if we'd been 10 years younger, we wouldn't have it.

No wonder people are angry.

MARRIED IN WHITE.

Youtube gordon brown new world order speech and you will see that its not a labour tory thing, they both work for the same people, its supposed to be us but it isnt anymore.

Labour supporters shout at conservative supporters and all the while nobody is shouting at the government.

The warlord we had in power didnt help either.

Well op, couldn't you just have NOT bought?? I don't want to seem harsh, but you went into this willingly, noone made you do it. Fwiw we DIDN'T buy, and now approaching 40 have no house of our won AND no pension as we pay a lot of rent and I chose to stay at home with the Dc's instead of going ut and getting a job which would have enabled us to buy. All of our friends have houses, some of them lovely ones...am I jealous, well yes, but resentful???? No way. We are all the authors of our own story, some of us just get lucky and others not so. No point in feeling angry about it, it won't change a thing.

Also op, reading the writing on the wall, things are going to get a whole lot worse, for all of us but the very richest, so soon all those people you are angry at will probably be in the same boat as you.

What me worry.

The 1920s/30s cycle was created by fractional reserve banking.

Every major event in modern history has been engineered to create debt.

Are we still paying war loans off ?

The wars are based on lies as well, pretty much all of them.

The revolutionary war of the USA is also down to money.

The people who got all the sweeties are the ones who could retire early at 55 - 60 on full defined benefit pensions, that ended about (give or take) 10 years ago. Everyone else is suffering as these retirees have all the wealth and - because they are living longer than expected - aren't letting go of it, and those behind them are continuing to fund their generous deals while watching their own being continually reduced.

That is what needs to be corrected, but as these people have the time and the votes, no government wilingly will take them on..

Every major event in modern history has been engineered to create debt.

Oh absolutely, ther is a new Feudaliism emerging - but there are some other structural issues that could help prevent it - if people would wake up.

It's rubbish isn't it. I bought on a 100% mortgage in 2003, so before the boom, but as I bought in a relatively rubbish area my equity only paid a 10% mortgage when I bought a much more expensive property in 2009. The price I paid for our current home - a terrace without a garden - would have bought a large detached house 8 years earlier. I'm just grateful that we aren't in negative equity.

• 10% deposit

Oh and Redshield, you are spot on...it's shocking how few people are aware of it too, DH and I have been talking about this for years, and everyone thinks we are freaks. Bloody prepared freaks though!

What me worry.

People will probably see the phrase "wake up" pop up everywhere on the internet, the question is will they sit there and think what does wake up actually mean.

I know what it means because i have had my wake up moment, i got my wake up moment by informing myself on how the system was started, who started it and what they have been involved in throughout modern history.

Once you wake up, you see it everywhere.

Everywhere.

cobwebthegrey.

Its pretty obvious isnt it.

People have been trying to warn us for years about what is going on but sadly the majority dont listen, seems i am finding more and more people who have woken up lately though so hopefully this time its different.

Youtube a message for all of humanity and check out some of the comments.

Sentiment is definitely changing in the world.