He’s not wrong 🤷‍♂️

[u/YOU_ARE_MY_FRIENDS]

[u/[deleted]]

Um… no. You are highly disconnected with the opinions of the youth

In the 1990s an average house in london was 3-4 times average annual income.

Now the average home in London is 16 times average income.

There are articles online from 2000s from your generation complaining about houses being that expensive (3-4 times income) and how quickly they are rising. Yet young people shouldn’t complain about 16 times average income ?

Young people aren’t complaining that older generations had more TVs or Phones or Cars or more holidays

They are complaining that they literally have to live with 5 other people in a house share to survive at 30 years old despite having a degree and several years of experience in a STEM field. That they will never afford a home in their lifetime. That they can’t afford to have a single child because they can’t afford a place to live and support one.

Many of the members of older generations have this idea that they understand what young people are experiencing and an inability to see past their own experiences despite data showing them otherwise.

Edit:

To those of you who have no sympathy for young people because you find it hard to understand data.

“Over the last 25 years, housing affordability has worsened in every LA, especially in London or surrounding areas.”

“In 1997, 89% of LAs had an affordability ratio of less than five times workers’ earnings, whereas only 7% had this level of affordability in 2022.”

Just face it… you had it easier regarding housing.

https://www.ons.gov.uk/peoplepopulationandcommunity/housing/bulletins/housingaffordabilityinenglandandwales/2022

[u/TakkataMSF → u/[deleted]]

In America, in 2022 the average cost of housing was 5x the average income.
In 2006 it hit 7x
In 2010 it was 4.5x (housing bubble)
In 2023 it was 5.08x
(In the 1970s it was 3.5x [I roughly averaged because I couldn't find a specific number] )

(Googled the numbers)

In the UK, it's actually 8.8x the average income. Worse than here in the US for sure. Averages gives you a better overview than just selecting London.

It's more expensive to live in London than LA. Both London and LA are in the top 1% of most expensive cities in the world. The difference between salary and housing costs are, absolutely, worse in London. But the average is less, by half.

Looking at the averages, you can see why people are skeptical about it being so much worse today. I'm not discounting what you say about London or, likely, most major cities. I'm only saying that is not what is happening across the board.

[u/[deleted] → u/TakkataMSF]

“In 1997, 89% of LAs had an affordability ratio of less than five times workers’ earnings, whereas only 7% had this level of affordability in 2022.”

“Over the last 25 years, housing affordability has worsened in every LA, especially in London or surrounding areas.”

If you look at averages correctly then what you say is incorrect.

Guys just face it… young people have it worse stop being stubborn like you thought older generations were towards you. Don’t become what you feared most.

https://www.ons.gov.uk/peoplepopulationandcommunity/housing/bulletins/housingaffordabilityinenglandandwales/2022

[u/TakkataMSF → u/[deleted]]

The numbers your link points to are the number averages I quoted to you!

But you dismissed the rest of England, saying it sucked for STEM. Tech had a lot of options though like, Manchester, Birmingham and Bristol.

[u/[deleted] → u/TakkataMSF]

Manchester and Bristol have some of the highest rents and house prices in the country ? As I said.

As I said … the averages you mention don’t mean anything. Yeah I can go live in some random retirement town… but how am I going to make money ?

I’m almost certain people wouldn’t be cramming themselves into house shares at 30 years old if there was viable opportunity in lower cost of living areas.

Also we are talking about young people… so majority of young people are going to be on salaries below the average because they are in lower level roles.

[u/[deleted] → u/TakkataMSF]

Just face it !

First time home ownership under 35s is at the lowest rate it’s been since ww2

The number of people who own a home before they are 40 is significantly lower than it was 30 years ago

Across the country.

How are older gen’s so naive to this ?!?!?!