Seniors don't want to give up money for younger gen: poll

[petros]

Based on the huge increase in housing prices and seniors getting richer, it looks like adults will have to start living with their parents. What's worse is that the housing bubble is taking effect again and houses are actually 25% overvalued because of artificially low interest rates. Come five years from now, current house owners will have to downgrade if they can't afford the interest rate hike.

With the interest hike and high prices, no amount of 'money managing' will afford this..

Renovate.

 

[mentalfloss]

Renovate.

Petros, stop being selfish.

 

[petros]

Renovate and add a basement suite. Create revenue and housing. Better?

 

[mentalfloss]

Renovate and add a basement suite. Create revenue and housing. Better?

People have the money to renovate?

 

[petros]

No shortage of jobs and money in the west.

 

[mentalfloss]

No shortage of jobs and money in the west.

We're talking about the entire country here.

 

[petros]

Same train that ran 110+ years ago still runs today.

 

[mentalfloss]

Same train that ran 110+ years ago still runs today.

roflmao

 

[Tonington]

You think the young whipper snappers are to afraid to say that they want to steal our money?

This thread is about seniors not being keen on giving up publicly funded services, from the OP. It's not about anyone stealing anyone's money...you older folks keep referencing when you were young...it's not the same at all. It's apples and oranges in almost every conceivable metric. Demographics, what more needs to be said about that? You could get a good job with a high school education, we cannot. Manufacturing jobs that could raise a family were plentiful, now they are not. The cost of post-secondary education was much lower. Just since 1981 for instance, in your country the cost of a university degree has risen six fold, while the CPI increased only 2.5 times. Housing prices are astronomical. A twenty-five year old college graduate isn't living at home because they want to...my generation has the same goals, a house, a family, except it looks like years before we'll be able to afford any of that. I think I'm probably the exception in some cases, because I'm a cheap bastard who doesn't own a cell phone, or any iApple gadgets. Hell, I won't even pay the farmer down the road to remove snow from my driveway because I'm such a cheap bastard. I'd rather break my back for 45 minutes every morning than pay money which could be used to invest or pay down more debt.

I'd like to hear from any of those who seem to think my generation wants to steal from you, just exactly what you mean by that. I've paid my way through my degree, financed by loans which I am paying back, with interest. $500 a month, for the next ten years, actually nine years now, it was over ten years when I started making payments. That's half of what Cliffy lives on in one year! How is the job market or the composition of society in any way similar?

I don't want any sympathy from anyone, I'd just like to hear how it is they think that I want to steal their money, or how I'm a lazy bastard not willing to work or make sacrifices to get by. Hell I even advocate a split system in healthcare so that my taxes can finance a public system, and my premiums I pay through my employer can finance my own healthcare...

 

[petros]

Half of Baghdad found it's way here. What is wrong with Canadians?

 

[TenPenny]

You also have to remember us older folks have to
look after them more than once in some cases because they totally mismanage
their world and they would end up being homeless.
Many don't leave home until well into their twenties.

If your children don't know how to manage their world, and don't leave home until well into their twenties, the people to blame are the ones who raised the kids to be unable to live on their own, and the ones who let them live at home.

I find it hilarious when people complain about their kids doing exactly what they've been raised to do, as if someone else was supposed to raise the kids somehow.

If you don't teach your kids to be independent, guess what? They won't be.

 

[petros]

These days the parents have the paper routes.

 

[JLM]

This thread is about seniors not being keen on giving up publicly funded services, from the OP. It's not about anyone stealing anyone's money...you older folks keep referencing when you were young...it's not the same at all. It's apples and oranges in almost every conceivable metric. Demographics, what more needs to be said about that? You could get a good job with a high school education, we cannot. Manufacturing jobs that could raise a family were plentiful, now they are not. The cost of post-secondary education was much lower. Just since 1981 for instance, in your country the cost of a university degree has risen six fold, while the CPI increased only 2.5 times. Housing prices are astronomical. A twenty-five year old college graduate isn't living at home because they want to...my generation has the same goals, a house, a family, except it looks like years before we'll be able to afford any of that. I think I'm probably the exception in some cases, because I'm a cheap bastard who doesn't own a cell phone, or any iApple gadgets. Hell, I won't even pay the farmer down the road to remove snow from my driveway because I'm such a cheap bastard. I'd rather break my back for 45 minutes every morning than pay money which could be used to invest or pay down more debt.

I'd like to hear from any of those who seem to think my generation wants to steal from you, just exactly what you mean by that. I've paid my way through my degree, financed by loans which I am paying back, with interest. $500 a month, for the next ten years, actually nine years now, it was over ten years when I started making payments. That's half of what Cliffy lives on in one year! How is the job market or the composition of society in any way similar?

I don't want any sympathy from anyone, I'd just like to hear how it is they think that I want to steal their money, or how I'm a lazy bastard not willing to work or make sacrifices to get by. Hell I even advocate a split system in healthcare so that my taxes can finance a public system, and my premiums I pay through my employer can finance my own healthcare...

Your interpretation which you have every right to. :smile:

[/FONT]

If your children don't know how to manage their world, and don't leave home until well into their twenties, the people to blame are the ones who raised the kids to be unable to live on their own, and the ones who let them live at home.

I find it hilarious when people complain about their kids doing exactly what they've been raised to do, as if someone else was supposed to raise the kids somehow.

If you don't teach your kids to be independent, guess what? They won't be.

There are other influences on kids besides parents. :smile:

 

[Goober]

Based on the huge increase in housing prices and seniors getting richer, it looks like adults will have to start living with their parents. What's worse is that the housing bubble is taking effect again and houses are actually 25% overvalued because of artificially low interest rates. Come five years from now, current house owners will have to downgrade if they can't afford the interest rate hike.

With the interest hike and high prices, no amount of 'money managing' will afford this..

You would have to add some other criteria

Size of a house in the 50's was approx 900 sq ft
Presently a higher density of population raises the cost of land
Services to that subdivision
Material costs and building codes
Percentage of income to service a mortgage
Percentage of income spent to provide food, gas, car etc
Newer homes, many want all the fixings as they say.
We now are a 2 car or more generation - needed as the souse often works.
But last and most importantly is that credit is cheap - people buy on the pay later plan. That can be good on occasion but also leaves you in the constant position of owing forwards.
Turnover in cars. Average time a car is held - Every time you trade and but it costs. That adds up after 2 or 3 upgrades.
Driving a car till it is 8-10 or years old. After it is paid it is an asset. Instead of using that payment as saving many use it to consume.

And last but not least - personal debt ratios are at approx 150 % - Cheap borrowing costs is one reason - But as we all now interest rates change. Low now - Higher later.

Wants and needs - Are different now than they were 50 years ago.
Going without is also not common.
Education costs have risen - But if you spend all that money on an education and their is no demand for it, then who has the problem.

Skilled trades - Shortage -
People. many do not have an emergency fund set aside. 3 months is the recommended amount.

We can all go into specifics on what we encountered and how we led our lives, but they really do not apply.

I agree that the claw back of pension should be lower than the 65 or 75 k mentioned.

Public service pensions are the best in the country - That also has to be addressed.

Same with salary for Govt jobs -higher than the private sector. Some estimates are 20 % or more than the private sector - Why??? Unions that are to strong - Govt that are to weak. That is Prov and federal.

Yet we have many that will never have such a pension.

The Govt will gradually raise the age from 65 over a defined period.

 

[JLM]

You would have to add some other criteria

Size of a house in the 50's was approx 900 sq ft
Presently a higher density of population raises the cost of land
Services to that subdivision
Material costs and building codes
Percentage of income to service a mortgage
Percentage of income spent to provide food, gas, car etc
Newer homes, many want all the fixings as they say.
We now are a 2 car or more generation - needed as the souse often works.
But last and most importantly is that credit is cheap - people buy on the pay later plan. That can be good on occasion but also leaves you in the constant position of owing forwards.
Turnover in cars. Average time a car is held - Every time you trade and but it costs. That adds up after 2 or 3 upgrades.
Driving a car till it is 8-10 or years old. After it is paid it is an asset. Instead of using that payment as saving many use it to consume.

And last but not least - personal debt ratios are at approx 150 % - Cheap borrowing costs is one reason - But as we all now interest rates change. Low now - Higher later.

Wants and needs - Are different now than they were 50 years ago.
Going without is also not common.
Education costs have risen - But if you spend all that money on an education and their is no demand for it, then who has the problem.

Skilled trades - Shortage -
People. many do not have an emergency fund set aside. 3 months is the recommended amount.

We can all go into specifics on what we encountered and how we led our lives, but they really do not apply.

I agree that the claw back of pension should be lower than the 65 or 75 k mentioned.

Public service pensions are the best in the country - That also has to be addressed.

Same with salary for Govt jobs -higher than the private sector. Some estimates are 20 % or more than the private sector - Why??? Unions that are to strong - Govt that are to weak. That is Prov and federal.

Yet we have many that will never have such a pension.

The Govt will gradually raise the age from 65 over a defined period.

You've said it well Goober and all mostly true, but I doubt if the young whipper snappers will buy it. Oh and one more thing, the time they spend yacking and texting on cell phones our generation spent WORKING. (do you think there's a message there)? :lol:

 

[TenPenny]

Oh and one more thing, the time they spend yacking and texting on cell phones our generation spent WORKING. (do you think there's a message there)? :lol:

I'm amazed. Nobody in your generation ever played cards, or watched hockey, or did any gardening, or went to parties, or read books, or any other activity other than work? Wow. Just wow. Amazing.

 

[JLM]

I'm amazed. Nobody in your generation ever played cards, or watched hockey, or did any gardening, or went to parties, or read books, or any other activity other than work? Wow. Just wow. Amazing.

Absolutely - we were even known to get drunk on Saturday afternoon! BUT the difference was when we WERE working we didn't f*ck around. :lol:

 

[Goober]

I'm amazed. Nobody in your generation ever played cards, or watched hockey, or did any gardening, or went to parties, or read books, or any other activity other than work? Wow. Just wow. Amazing.

My Father worked 2 jobs all year. My Mother ran a rooming house, raised 3 kids. Both for her were full time jobs.

 

[JLM]

My Father worked 2 jobs all year. My Mother ran a rooming house, raised 3 kids. Both for her were full time jobs.

My uncle worked for a Dairy in Victoria for about 36 years, his "weekend" started at 2 PM on Sunday. He was dead at age 61.

 

[Goober]

This thread is about seniors not being keen on giving up publicly funded services, from the OP.
I don't want any sympathy from anyone, I'd just like to hear how it is they think that I want to steal their money, or how I'm a lazy bastard not willing to work or make sacrifices to get by. Hell I even advocate a split system in healthcare so that my taxes can finance a public system, and my premiums I pay through my employer can finance my own healthcare...


[/FONT]

No one is accusing you of being lazy, I would say the opposite - personal drive, thrift, needs and wants clearly defined. It is true about manufacturing jobs, but skilled tradesmen are in short supply.
Why - Society ( parents) in general think that all should have a university education to succeed - Some are just not cut out for it. Trades can make 100 k a year or a lot more. Mill Right - 100 K easy -