to agree It is pensioners, rather than the rich, who are growing richer.

[marryj]

From someone at institute of fiscal studies -www.ifs.org.uk/publications/7276

www.ft.com/cms/s/0/53a4b2fa-0b69-11e4-9e55-00144feabdc0.html#axzz3LFCf5Gay

From what I see, each year there is a widening generation inequality. Many studies have shown since the coalition came in the young are far worse of but pensioners have never been richer.

The generation with the highest income is now pensioners, despite them having significantly less outgoings as no young children to raise and for most they have paid off their mortgage. Things are very bleak in the job market with graduates with 30k+ of debt taking nmw jobs and only 20% are likely to get out of nmw after 10 years.

Ethel I am reading your posts - several times actually - and trying to work out what you are actually saying.

What exactly is the problem that you think it has caused? Because it pretty much looks like you are annoyed that you can't afford a house - which is a legitimate annoyance, but not a reason to vilify an entire generation.

I really do wish that people would become more politically pro-active in matters of social justice instead of begrudging people who are only slightly better off than they are.

In the early part of the last century when the conditions of ordinary people were dire and poverty was rife people banded together through political activism and the trade unions.
Now some people just wish poverty on other people.
Why are there zero hours contracts etc-because the unions have been weakened or because older people have been able to buy houses.
Working people of the world unite-not scrap between yourselves .

Many of those same people who now own property that has turned into an investment, even if they only ever did want to have their own home.

What does this even mean?!

BlackandGold the issue is the housing market. Its incredibly narrow you seem to find the notion of renting from a kind of housing association publically or privately owned so amusing. A lot of the western world rent through housing associations or variations on that theme.

Can you really not think outside of your property ownership obsessed little box? If so that is part of the problem.

Why should people not aspire to own property? At least then you are investing the money rather than handing it to a landlord. £1500 a month for a one bed flat... it grieves me greatly!

Well then, why not start a new thread about the housing market, instead of one about pensioners?

BIWI - exactly. I give up.

ethel serious question - would you not prefer to own your home and know that it was yours forever, rather than rent always and have that level of uncertainty?

Someone always owns the property even in whatever socialist utopia you are thinking about - they are the ones in the top 3% that you need to focus your anger on, not the 70 year old couple up the road with the mortgage paid off and a few thousand in the bank in case the boiler needs repairing.

Many of those same people now own property that has turned into an investment, even if they only ever did want to have their own home.

Sentence corrected. I mean I appreciate they didn't set out to own something that can't be bought on an average wage. But they then set the asking prices.....

Drudgetrudy that is a good point. The issue is low wages as well as unaffordable living costs. The difference is that housing prices can partly be pinned to individuals asking for unaffordable prices without consideration to how they will be paid, rather than big bad corporations.

I do appreciate it isn't just retirees setting massive asking prices on their houses though.

Before "Right to buy" there was affordable social housing-now people are paying a fortune to private landlords. Whose fault is that?

Fucking hell. You must have a good editor.

BlackandGold I didn't start the thread. My initial answer to the OP was about both changes in both the housing and job markets. People kicked off over what they perceived to be an attack on their precious property ownership.

Alibaba I would prefer affordable, secure rent and living costs for all. Secure rental markets exist in places that are not socialist utopias. Those places even have private property ownership. We have unusually low levels of property tax and rent regulation in this country. To suggest an alternative is not some silly little idea.

People have got more and more grabby since the "No such thing as Society" crap. No-one else will look after them so they only look out for themselves and their families.
It isn't confined to one generation-we have been turned into crabs crawling over each other to get out of a bucket.

It will be becoming clear who I hold responsible.

Actually it can almost certainly be pinned on big bad corporations. The value of land in London for its commercial potential has been one of the huge drivers of house price inflation in this country. Again, look to your top 3, or even 1% for that, not individual pensioners.

I wish my pensioner parents were well off! My Df planned to work until he was 70, but was unfairly dismissed from his job and hasn't managed to find anything else. He won his tribunal recently, but the money he was seeded nowhere near covered what he had lost. He doesn't have a final salary pension, and what he has saved is worth buttons.

So OP YABVVVU.

My dad is definitely not one of these rich and growing richer pensioners! He has had to spend out so much in inheritance tax, first, on his PIL's property; and now, because it was actually my Mum's inheritance but she died before the inheritance tax was paid off AND before the house was sold, he now has to pay capital gains tax on it as well. It's hardly been a windfall, that house. By the time all the tax is paid off on it, Dad might have some more money - but for now, he's living on Sainsbury's basics food as that's about all he can afford (and he's still doing better than many).

To be fair the OP posted a link to a study. A fairly reputable one.

I disagree with the thread title though.

So I don't know if the OP IBU or not

The only consolation when I see people pensioner bashing is that one day they will be one.

Pity we can't look ahead to see how they like it.

Yes 1944girl-that is typical of the pensioners I know.
I am moderately comfortable now and own an average priced house (average for North not South East). I know many people in your sister's position.
I always worked--part-time for five years, otherwise full-time. I worked for the NHS and paid into their pension scheme. I get £8,000pa from that + state pension.
I consider myself comfortably off but not rolling in it. I am aware many young people are really struggling but I don't think the solution is to render me skint. People in your sister's position without a private pension are actually not well off at all.

I think pensioners with a reasoable private pension who own their own homes manage fairly well. The trouble with some of the older pensioners was they had either a tiny or no private pension at all and were relying on savings to supplement their state penion. But with inflation and low inteerest rates their income from savings was massively reduced but they but they didn't qualify for pension credit if their savings were over the limit.

Not sure, I will fly this by my 86 year old neighbour, who works 6 mornings a week at Asda, taxi at 7:20 back home by 13:00 husband used to take her but his dementia necessitated him giving up driving 2 years ago, they do own their house, but I suspect She needs to work .., don't ask me why... But she is 86, and not all that spritely.

missingmum what doesnt help there is that Carers Allowance stops when you reach pension age. The caring doesnt stop though.

Im one saying I damn well hope they are! thats a huge comfort to know. what a stupid thread. You will be old one day.

Some are, some aren't. It's the same with pensioners as with all other generations. Those who were well off 10 years ago are getting even better off. Those who weren't well off 10 years ago are holding steady at best, and many are worse off. I read the Telegraph's report of the IFS's findings and have strong reservations about their findings. In my more cynical moments, I suspect it's the Govt. trying to soften the public up for a major cut in pensioners' benefits.