Younger people should be rewarded for lockdown via affordable housing

[Ordree]

As others have noted, young people (not just those in frontline roles) are making enormous sacrifices to protect others, mostly but not exclusively from much older age groups. They will be bequeathed a damaged planet, a ruined economy and they will have done further damage to their mental health by staying indoors for months on end. They are the ones paying older people's pensions when they won't have anything like the same financial security to look forward to themselves. Yes I know older people paid their elders pensions during their working lives, bit never has there been such an imbalance. As the economy is likely to be ruined short to medium term anyway, would it not be reasonable to start the biggest givernment-funded housebuilding programme ever, allow younger people who have just bought to write off negative equity losses against tax, and essentially redress some of the appalling imbalance between generations and classes?

And frankly, I think it's a pretty damning indicator of contemporary society that people think any kind of sacrifice (which, remember is for EVERYONE'S benefit) automatically deserves a reward. Sometimes you have to do the right thing because it's the right thing. And that is the only reward you get for it

This.

I don't see how that would work. And why the assumption of negative equity?
The government has already pledged so much money in this crisis where would further funding come from? Taxes.

I know by the replies very many people vehemently disagree, but I still think younger people now and those entering adulthood in years to come have got a poor overall inheritance as a generation. Yes I know the young from wealthy families will always be ok, but an average person born into a poor family in say 1995 in the UK is likely to face significantly worse life chances than one born in 1955. And please can we stop this constant constant use of the world wars as a reason to say nobody has any right to expect anything better out of life. It is as if there are a group of people, very often born well after the end of WW2, who look down on younger people because they weren't compelled to be blown to shreds aged 21 for the crime of having been born in the wrong year. Does this mean you should look down on those who fought in World war 2 because for some World war 1 was worse? Or those who died in ww1 because they didn't live through the Black Death?

Can you define “younger people”?

Plus I saw 14% interest rates when I first bought - I don't think the current first time buyers have it harder.

@Easilyanxious can you explain how people aren’t helping themselves?

allow younger people who have just bought to write off negative equity losses against tax
Define “younger”? House prices have been increasing for over 20 years. When I left university in 2002 the prices were already beyond my means. I saved for 17 years and finally managed to buy a house last year. Everyone under 40 has suffered due to high house prices, not just the “young”.

If there was some magic way of averaging house prices out across the country as a whole, a lot more young people would be able to afford one. The ridiculous imbalance in employment opportunities is the cause of that, and far more should be done to encourage employers to move jobs to more deprived areas and away from the overheated south-east.

If I could find a job in or near Peterlee, I could buy a house for £28k, but a similar house where I live in Sussex would cost the best part of £500k.

Exactly how are young people making a bigger sacrifice?

Everyone is making sacrifices, I’m more inclined to feel sorry for key workers risking their lives and the many nurses, doctors and HCPs who are sacrificing their homes, health and in some cases life’s.

Quite a lot of people in my wider social circles are young. They have nice cars, the latest phones, spend small fortunes on their appearance and on living an Instagram-able life. And that's absolutely fine, but you cannot have everything. So they have no place to then complain about not being able to save enough for a deposit for a house. Frankly, not everybody can own property. And if you're not prepared to go without all the things that make your life convenient, and that make for pretty pictures on social media, then tough shit.

Unfortunately we now live in a society where everybody expects to have everything immediately, having moved away from saving for things being the norm. That isn't a good thing, and should not be encouraged by way of providing people with artificially deflated property prices.

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Ridiculous twaddle
Everyone is making sacrifices some key worker are sacrificing their lives

Yes, clearly it is only young people and children that are sacrificing anything at the moment, everyone else is just having a jolly old time.

Mumsnet is so ridiculous sometimes, you do realise that young people are also dying of this thing right?

My grandparents (would be in their 90s now) fought in the wars and did not live extravagant lifestyles. They are irrelevant really as I don’t think that’s who the OP is talking about.

My parents (60s now) did not fight in the war. My Dad had a modest job, always 9-5, not massively stressful, he has no qualifications, my Mum chose not to work and they had 3 kids by the age of 30. We always had a lovely lifestyle, holidays, detached house, 2 cars. That would not be doable today.

They are now retired (before 65) with plenty of money coming in, through private and state pensions. No amazing scrimping or saving or excellent financial planning. It’s just the way it is. They are also now both in poor health due to unhealthy lifestyles mainly and are getting their money’s worth from the NHS.

I live in a small terraced house (in an area that my parents don’t approve of as they have no concept of house prices, they would also never consider a terraced house as it’s too noisy) My husband and I have professional jobs, much more money coming in than my parents would have had but our mortgage is big, bills are big. We waited until 30 to start a family as we couldn’t have brought in our 20s. We will be at least 70 when we retire, that is if we make it that long with what may well happen with healthcare.

I dread to think what lies ahead for my kids generation to be honest.

Yes, I do think younger generations deserve a bit of help with housing now. They will probably work until they die and not have any healthcare in their old age.

This is ridiculous.
Worryingly though. I'm actually beginning to think that the OP isn't actually meaning to be hilarious, but genuinely believes what she is writing !!!

The problem is, OP, that your opinions are all based on what you perceive to be fair. But life isn't fair.

Glib, but fundamentally true. Young people have challenges ahead of them (house prices etc) but also huge opportunities (especially wrt education and career choices) than previous generations. In any generation all you can do is try to take advantages of your opportunities and mitigate the challenges.

We really need to stop teaching children that everything always needs to be fair. It works in nursery, but really isn't a good foundation for adult life.

I just disagree with the 'anyone over the age of x has it easy'. We are 41 and only managed to buy with a 5% deposit 3 years ago, we are screwed if house prices drop, came into the workforce as final salary pensions ended, were the first group of people to get student loans and fees (no big grants for us).

We wouldn't be considered 'young' by any stretch but also haven't had all these massive benefits 'older' people have had

I agree op. Pensioners already had more disposable income than the working population before Corona (source Financial Times)

www.ftadviser.com/retirement-income/2019/04/26/pensioners-have-more-spare-cash-than-workers/

and this will only get more pronounced following Corona.

Enormous sacrifice?
We are been asked to stay at home. They have the same opportunities as everyone else.
This is why "young ones" think they are so entitled to things been handed to them on a plate because the poor babies had to stay at home for a few months to stop a deadly virus spreading any further and we will then reward them for that!
Batshit crazy idea if you ask me!

It seems to me it’s mainly the young ones flouting the social distancing rules..

For those of us who are on the front line and working all hours or wfh whilst looking after small children this is an enormous sacrifice.

Ok, we’re not in the trenches but the mental health fallout of this for grown ups and children is going to be big and ongoing.

Up until 20 years ago you could buy a house on one modest salary without a massive deposit. Now you can’t and this is the crux of the issue. And this is not going to improve. Opportunities are not the same.

For those of us who are on the front line and working all hours or wfh whilst looking after small children this is an enormous sacrifice.

It's not just young people doing that though is it? It's people of every age.

Wfh with young children will be younger people. I think young needs to be under 40s in this context tbh

Free University Education? Hardly anybody went back then!

Sorry where did I say people aren’t helping themselves mirror ? I didn’t think I had