Under 30s spending less that 2001 counterparts

C

Charmless Man

Striker
It seems like today’s under-30s are spending less on non-housing related items than those in the same age bracket were in 2001.

Under-30s 'spend less than same age group in 2001' Today's under-30s 'spending less'

I’ve not looked into the underlying figures but certainly runs counter to the oft repeated argument that millennials spend too much of their wage on frivolous items to afford to buy a home.

Edit: and if a mod could correct the typo in the title that would be grand :p
 
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Charmless Man said:
It seems like today’s under-30s are spending less on non-housing related items than those in the same age bracket were in 2001.

Under-30s 'spend less than same age group in 2001' Today's under-30s 'spending less'

I’ve not looked into the underlying figures but certainly runs counter to the oft repeated argument that millennials spend too much of their wage on frivolous items to afford to buy a home.

Edit: and if a mod could correct the typo in the title that would be grand :p
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I always smile when my neighbours 22 year old son says him and his girlfriend can't afford a house. Despite both paying £400 a month lease for a Mercedes C Class car.
 
I remember an old gentleman said to me don't waste my money on a house and stay with your parents. Now I have some married mate's who still live at home but they spend half of the time with wife and half with parents.
 
Dougy16 said:
They're married with kids but don't want to leave home. So they live at home and with the missus. One stays with his wife from Monday to Thursday then Thursday to Monday with his parents.
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Surely not? Who would marry someone not willing to leave their parents’ house? Unless they’re both having to live there temporarily to save.
 
Just read the article. Some very interesting conclusions. Seems as though the financial crisis, the subsequent austerity and QE were the main factors. Assets rose sharply in value (houses and shares) and these are mainly owned by the older generation. One pound in an instant access bank account made 8p interest in the 10 years subsequent to the financial crisis and allowing for inflation was actually only worth 87p. The FTSE 100 index doubled in that same time frame and house prices rose by almost 50%.
 
Dougy16 said:
They're married with kids but don't want to leave home. So they live at home and with the missus. One stays with his wife from Monday to Thursday then Thursday to Monday with his parents.
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Your mates are absolute wrong'uns by the sound of it.

Qwerty said:
I always smile when my neighbours 22 year old son says him and his girlfriend can't afford a house. Despite both paying £400 a month lease for a Mercedes C Class car.
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My estate is full of flash cars. I do wonder where all the highly paid jobs are for so many people to be driving round in them.
 
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Qwerty said:
I always smile when my neighbours 22 year old son says him and his girlfriend can't afford a house. Despite both paying £400 a month lease for a Mercedes C Class car.
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I know loads of people like that from back home. Giving it the big’un about their cars, nights out and holidays. Live in their ma’s spare room. They don’t realise how tragic they are.
 
MackneyHackem said:
I know loads of people like that from back home. Giving it the big’un about their cars, nights out and holidays. Live in their ma’s spare room. They don’t realise how tragic they are.
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Its strange like. I know people at home and from some of the more run down estates in my borough financing luxury cars. Priorities eh?
 

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