Over-60s own 55% of all property in the UK
Discussion
https://www.independent.co.uk/news/uk/home-news/ho...
article said:
Data from Savills shows that those aged 60 and over own 55 per cent of the UK s housing wealth, while those aged 40 and under own only 10 per cent demonstrating a widening generational gap.
The over-60s own a record £3.84 trillion without mortgages, including main and buy-to-let. On main homes alone, they own £2.925 trillion outright. This is up £35 billion on just the year prior, as the figure continues to hit new highs.
The over-60s own a record £3.84 trillion without mortgages, including main and buy-to-let. On main homes alone, they own £2.925 trillion outright. This is up £35 billion on just the year prior, as the figure continues to hit new highs.
Don’t worry. Plenty of people will be along to completely misunderstand the statistics and claim it has always been that way, because people nearing retirement have been building wealth longer, yet ignoring the fact that the issue is the gap being bigger than in the past. Then someone will talk about how their parents wonky owned a shed and had to use the ditch at the end of the street to wash and it’s all because people want too much now.
s1962a said:
https://www.independent.co.uk/news/uk/home-news/ho...
But they still need free money to help heat them in the winter. article said:
Data from Savills shows that those aged 60 and over own 55 per cent of the UK s housing wealth, while those aged 40 and under own only 10 per cent demonstrating a widening generational gap.
The over-60s own a record £3.84 trillion without mortgages, including main and buy-to-let. On main homes alone, they own £2.925 trillion outright. This is up £35 billion on just the year prior, as the figure continues to hit new highs.
The over-60s own a record £3.84 trillion without mortgages, including main and buy-to-let. On main homes alone, they own £2.925 trillion outright. This is up £35 billion on just the year prior, as the figure continues to hit new highs.
DeadShed said:
Don t worry. Plenty of people will be along to completely misunderstand the statistics and claim it has always been that way, because people nearing retirement have been building wealth longer, yet ignoring the fact that the issue is the gap being bigger than in the past. Then someone will talk about how their parents wonky owned a shed and had to use the ditch at the end of the street to wash and it s all because people want too much now.
Well that is precisely why over 65s hold most of the housing wealth and it is not a misuse of statistics. Go back to 2004 on the chart of those who own their homes outright and it is a bit lower, but the over 65s still own over half. Because that is the only group who usually have mortgage free homes. Far from it all being the young suffering the 55-64 age group has fallen back quite a bit since 2004 as well. Perhaps due to longer term mortgages and more households separating?.
I am not sure how you are supposed to have much housing wealth without spending 25-30 years paying off a mortgage?
Edited by JagLover on Monday 30th March 14:18
Is it in part down to people living longer ?
In the past the average life expectancy was much less, so many of my relatives I have been told about only made it to their fifties and sixties, but a lot more people seem to make it to 70, 80, 90 and sometimes even longer now.
People tend to live 13/14 years longer now on average vs just after WW2, so houses are occupied that much longer
Was watching a documentary from 1974 about slum clearances in Manchester, was amazing how old people looked vs how old a lot of folk these days look at the same age, life was tougher back then.
It is difficult for young people to get on the housing ladder when in a lot of places even a modest property is 200 grand plus, one of ours has their own house but they have a pretty high joint salary, one is renting a terrace and the youngest is back with us for a bit.
In the past the average life expectancy was much less, so many of my relatives I have been told about only made it to their fifties and sixties, but a lot more people seem to make it to 70, 80, 90 and sometimes even longer now.
People tend to live 13/14 years longer now on average vs just after WW2, so houses are occupied that much longer
Was watching a documentary from 1974 about slum clearances in Manchester, was amazing how old people looked vs how old a lot of folk these days look at the same age, life was tougher back then.
It is difficult for young people to get on the housing ladder when in a lot of places even a modest property is 200 grand plus, one of ours has their own house but they have a pretty high joint salary, one is renting a terrace and the youngest is back with us for a bit.
s1962a said:
https://www.independent.co.uk/news/uk/home-news/ho...
Bear in mind that 25% of the UK population is over 60article said:
Data from Savills shows that those aged 60 and over own 55 per cent of the UK s housing wealth, while those aged 40 and under own only 10 per cent demonstrating a widening generational gap.
The over-60s own a record £3.84 trillion without mortgages, including main and buy-to-let. On main homes alone, they own £2.925 trillion outright. This is up £35 billion on just the year prior, as the figure continues to hit new highs.
The over-60s own a record £3.84 trillion without mortgages, including main and buy-to-let. On main homes alone, they own £2.925 trillion outright. This is up £35 billion on just the year prior, as the figure continues to hit new highs.
55% of the population is between 18 - 60 and they own 45% of the housing.
100% of those over 120 own 0% of UK housing.
Have those stats changed significantly over the last 20 years?
RichB said:
Don't worry the Milennials will inherit it all soon and then the GenZ'ers will start bleating on about it, and so it goes on... 
Don't forget the "leaving my estate to the local cat sanctuary" in the will, as the ungrateful millennials didn't visit much as they were too busy with their own lives.
turbobloke said:
pheonix478 said:
Such a stupid article and ignorant use of the stats to show... the entirely obvious and expected result.
In keeping with the nature of the article, a follow-up will be about what proportion of toys the over 5s own.
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