What changed

[Matthew Storrs]

I don't see where there was room to scrimp and save. They raised three boys, had holidays, went to the local club on a weekend, all on one wage.

 

Something don't add up in my mind. Either wages were good back in the day or dad was a part time crack dealer. Or have wages stagnated that much?

 

Another thing is that food is cheap now, I'm pretty sure I read somewhere that the average family spends 15% of income on food now whereas in the sixties it was nearer 40%. This is a topic that interests me at the mo because having recently had our first child and with my wife also doing a degree we are tending to rely on 1 wage. I can't say it's too bad because we live within our means and arnt fussed about expensive holidays or going out all the time. Everyone seems to have everything now regardless of whether they can afford it and then they go out for meals regularly, several holidays a year and they have to do 'exciting' stuff else what are they going to post on facebook!

[matelot]

Just because women now work it doesn't mean that household income shoots up. It's likely that by the time the household has to pay for childcare that household disposable income hasn't really went up.

 

It also seems like people fritter more money away nowadays. If you ever go to a council tip it's amazing how much new looking furniture is thrown out.... As another example weddings seem to cost more as people want more things. My mate got married and spent £200 on matching ties for him and his ushers. That's over a days wages for most folks ffs!

[spudulike]

Basically, house prices have rocketed, mortgage borrowing levels have increased to meet the house price level screwing down the borrower, the bankers buggered the economy and the influx of foreign labour has stagnated wages to the point they haven't increased significantly since 2008 and probably earlier.

 

In 1980, I could walk in to a job tomorrow, now you need a degree to flip a burger and wages are in stagnation unless you are some whizzzz kid! The reason for this, free movement of labour and that is about it.

 

The real worry is what the 20-35 year olds will do in regards to savings and pensions if they are struggling to afford a house! Chances are that they won't get a chance to retire!

 

Comes to something when parents are expected to be guarantors on loans and mortgages...... what happens when they have gone?

[NFG]

Eggs,

 

You'll probably recall that a mortgage was once only available for 3 times your annual salary, then it was 3 +1 the one being the lower wage. This effectively controlled house prices.

 

Interest rates took off in the '80s, the factors affecting it were: waiting, risk & inflation. This wasnt limited to the UK, it was a global thing & everyone suffered.

 

The banks got de-regulated & before you all pile in and blame the government of the day, the opposition are equally to blame because they diddnt change it back when it was their turn.

 

This was followed by the availability of cheap money and 5x sallery not uncommon with that, prices increased creating the spiral of borrow & spend pushing house prices to where they are now - with that came the need to work, work, work to service ever increasing debt.

 

Its obviously a little more complicated than that, but we're not sorry to have escaped the treadmill & grateful for what we have.

 

N

Edited November 24, 2016 by NFG

[easy-lift guy]

I get the bit about us all wanting things and wanting them now.

 

This is what got me thinking. Mum and dad had an extension built in the early Seventies, then in the early Eighties they had central heating and double glazing fitted. Where did the money come from?

 

The one and only time they had finance (apart from a mortgage) was when dad got himself a new car in 1984 (A reg).

 

Money must have gone a lot further in those days, or am I missing something?

 

Money went further because it had to. Inflation and wages have never been on par with one another. Also the devaluation of currencies to continue to maintain social welfare states and increasing taxes ie. the VAT tax in the U.K.

As the population continues to increase more people will be required to work to pay more into the systems to continue to have their stuff provided by respective governments. Anything left will be very little if anything.

easy-lift guy

[fastrac]

good answers guys think you all got it right cant really add anything else

[jomoco]

According to my pal Mick, GWB n Blair ain't got nothin to do with our modern 21st century woes.,

 

PNAC?

 

Who dat?

 

Jomoco

[Mesterh]

Apparently it was a mutation in the female brain that made them smarter, hence they were then able to do the jobs only men could do before.

Dont believe me, watch this informative video.

 

[GreenGui]

This is an interesting read and does not go down the blind alley of politics, right blaming left and vise versa. As he explains, the issue is far bigger than that. The decline has been occurring for years it is just now that it is reaching the final stages and the deterioration is speeding up.

 

The Cancer Stage of Capitalism: From Crisis to Cure by John McMurtry

 

It's on Amazon but for some reason I can't link to it from here

Edited November 25, 2016 by GreenGui

[Mark Bolam]

Apparently it was a mutation in the female brain that made them smarter, hence they were then able to do the jobs only men could do before.

 

Dont believe me, watch this informative video.

 

 

 

 

 

That is actually what happened.

I remember watching the same documentary.

 

 

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