To think we simply can’t compete?

[Molehillminnie]

Mid 50s colleague selling house. On the market for close to £1M. Bought for 1/5 of that 30 years ago. Always going on about how the younger generation should save and be like her.

We’re 15 years younger, have pretty decent jobs etc but there is no way we’ll be able to benefit from property price increases in the same way. The huge jumps between 2000-2008 will never be replicated. Nothing more to say really, just having a rant!

@Noodles1234 thirty years ago £200k
Was a lot of money.
We paid £52k for a three bed cottage in 1992. It recently sold for £250k.

Our son is paying £550k for a similar sized house. He has saved his own deposit since he was 16 as we lived in rentals for 14 years. He doesn't want that life. He is an economist and very driven.

The one that got away was a cottage we paid £575k for in 2000 which recently sold for £2.2m as they got planning permission to build in the lovely big family garden. We moved back home to care for my DM and gave it up(I loved that house). I inheritated nothing.
I have now bought the ex local 'cannibis factory'. We bought it about 10% under market value. Hopefully if we stay long enough it will go up in value but for once it's our home. Not my taste but cheap for what it is as it was empty (we have fire doors though which suits the ex fireman husband!).
We're not boomers and had to take pensions early to see us through lean times. We then put nearly everything in to our new house.
FWIW I think it's about time really rich people started building like Cadbury and Peabody. No body needs second homes or millions in the bank. Loads of central London is empty and that is shameful.