
Originally Posted by
SinceSept1959
Too right pensioners certainly had it easier than many other people, leaving school on Friday and starting a 40 hour working week on the following Monday morning aged 14/15/16.
No gap years or 4 year boozing jollies at "Uni " or actually starting work at 22/25 years of age !
In 1967 the average starting wage was £5 per week , which by my humble calculations equated to 30 new pence per hour. Only 3% went to "Uni" of whish only 1% were females. Anyone wishing to progress attended day release if they were lucky or evening classes.
Mortgages were only awarded on a 40 hr flat wage and no overtime earnings or spouses earnings were included. In the late 70's Mortgage Internest rates peaked at 17.8 % ? Not all bad news as meagre savings totals accrued enough interest to take the kids on a week's holiday in an East Coast caravan !
It's not the pensioners' fault that house values are currently ridiculously high.
Paying a mortgage those days was difficult too , although overtime was usually available, that generation would only buy what they could afford not get into credit debts.
The house price spiral is entirely due to Bankers, Estate and Lettings agencies and over population.
I certainly don't envy future generations under these challenging agendas , but the pensioners have also had to live through hard times too !
Many working families would be considerably worse off without the help and support of grandparents, both financially and supporting working parents !
Interestingly , according to Think Tanks , a well off pensioner will have £64k in the bank with an average house value of £328 k.