Inflation and young people: 'The thought of things going up is scary'
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- Опубликовано: 9 мар 2022
- With inflation continuing to rise, young people in London are feeling the pinch now more than ever. In a national poll, conducted by SpareRoom at the beginning of 2022, involving more than 11,000 people, London came out at the bottom with just 37% of Londoners saying they felt their rent was affordable.
There is also a gender gap, with 1/3 women in London saying they spend more than 50% of their salary on rent, compared with 1/4 men.
This results in young professionals like Jenna and David trying to find alternatives to meet their daily costs.
Gem O'Reilly reports
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FINALLY some coverage on the cost of living crisis that isn't just about families and the elderly. Us childfree 20 - 30yo are really getting shafted and that's probably not going to change!
I’m fine I live at home pay no rent, all bills paid for life is pretty comfy no cost of living worries for me
May our Lord Jesus Christ cause good change..
@@ireneteare2365 I appreciate the sentiment but when god and politics come together, it’s normally very bad. Look at America! 🤣🤦🏻♂️
@@TalentedTom91 Hey Tom, how are you doing?
Lord Jesus Christ is the son of the Living GOD..God..Jehovah.
God and god are sooooo different.
Hope that answers your question.
It was soo good to hear from you!!
You seem kind.
We all have gone through different situations shaping our way of thinking...how ever that's how I view it with.
You see god..satan has bee politics indeed. However, I commit everything to our Lord God through our Lord Jesus Christ and the Holy Spirit in everything for a good change like I said.
If anything don't hesitate to contact/ communicate. 😀😀😀.
@Peter Hicks One great thing is he doesn't need to help to convince him not to.
Get behind me Satan. You are under my feet .Jesus Christ is Lord.
Pretty scary when you show somebody who’s a manager and another who’s an interior designer struggling. What about 70-80% of us who earn less than these people ??
It doesn't matter your job title or education in UK. A manager can be paid the lowest wage the government allows
They in London. It's crazy
@@wonderbug5610 very true, but still very scary for those who are earning a good chunk less than these people. Where I live the average salary is 24K and the average house is just over 330K so it’s not just London where Young people have little change. Pretty much the entire South of England is out of my price range, a lot of northern towns have gone crazy too.
@@MatthewChapmanYT Oh I can argue for hours about this situation. I dont think many educated Londoners make more than 24000 per year, even after gaining experience it s hard even to get to 30000 annually (maybe you can blame the recruiters or the businesses that hire desperate East Europeans instead of hiring educated people so they can keep everyone s salary low). I suggest you to watch a video called Capitalism by Kidology.
@@wonderbug5610 how about moving out of one of the most expensive cities in europe..the wilds await you
150 for food ?! Not in london that is a week in central london LOL
😳I spend about £80-£90 for the month 🤦♀️ and I’m already nervous to go shopping again in case it goes up
North east as .well
Who would want to live in London. Yikes!
@@polishlass5067 Highly adaptive 3rd world immigrants like me who are hardy. That's who. :)
Council tax should be abolished
So where is the money going to come from to fund services?
@@simonhool3073 National insurance deductions. This ensures those who earn millions pay towards society
@@BigDaddyD24 The top 1% account for over a quarter, at 27%, of all income tax collected. If they pay income tax they pay national insurance. Those who earn millions pay into the system and don’t use it as they often go private, health and education.
@@simonhool3073 what services 🤨
@@Saffie_Anderson schools, roads, libraries, support for vulnerable children and adults, and rubbish collections. Council Tax also pays for the police, the fire service and many other local services.
People under 40 right now have been getting shafted all our lives. Nothing but wage stagnation and endless price rises on EVERYTHING.
Save £159 a year by cancelling you TV licence. Just watch catch up and avoid the BBCs propaganda. Why help pay someone 1 million pounds just for playing records on the radio?
I am 47. I truly feel sorry for the younger generations. They will not have the same standard of living that their parents enjoyed.
That is already true for many. For my parents generation jobs were easily come by & there were full grants for education & free training available to acquire the qualifications & skills needed. Plus there were really good pensions & it was much easier to buy a house.
I'm 44 and I haven't experienced the same standard of living my parents had. This has been an issue for some time.
@@tytzup5397 true but old farts have been too busy shouting about bootstraps and avocados to notice how difficult things are getting, plus someone's got to pay their pension so they can sit at home and rant on Facebook 😂
Thanks to your generation and previous generations that the current younger generation is in the such situation. i.e. Who is currently in the parliament and runs the national bank of your country right now? It is those people who is in your generation.
What rubbish ,there are masses of young people who have inherited large sums of money from various relatives, most young have never had it so good .I know of plenty of young people who are miles better of than I ever was and some of it just handed to them ,great for them ,friend of mine of the same age 60, said to me ,have you noticed how many young people have got fancy new cars, when I was young we had just old bangers he said ..And better than there parents ,just as well they were not around In the seventies with three day working week or back in victorian times ,7 days a week 12 hours a day ..we are all better of today despite the clowns that lead us .And some amazing young are running businesses from there lap tops and travelling the world ,watched videos of some young brits who lived Lisbon, working and living there as cheaper rent cheaper food .it is not all doom and gloom for young people, I would say young never had it so good ,the choice of work the choice of places to be is something that did not exsist 40 ,50 years ago .And I am in construction and some companies found it hard to get commitment from some ,who thought 8 o,clock start was flexible and same with the days ..yes the pandemic did not help anyone but hopefully past with and things will move forward ..
So what’s the point in getting an education and doing these high skilled jobs if it doesn’t even buy you a decent life?
Because if you don't, then you'll be even worse off
@Peter Hicks i agree! Careers where you CAN GET AN APPRENTICESHIP are very well paid! But for everything else... no
I'm from the UK and I live in Japan. Fellow Brits, check this out..
All workplaces in Japan pay for your transportation to and from work, 100%.
Britain is an absolute rip-off
Must be a catch tho property there is shoebox sized
And it has some of the longest working hours in the world. It's population is declining. It has the most debt than any other country in the world. Some places in Britain is expensive some are not.
yeah you also have to do many hours unpaid overtime lol
@@ecnalms851 only reason our population isn't declining is because our borders
I am 33 and been on a full time engineering job since 2018. I have no hopes to buy a property in this country!
I bought a property in 2020 and have been on a less than average salary for years. It really isn't difficult.
@@jenjones90 less than London average, which could mean you earn £53,000 a year, or less than £26,000 UK average salary?
Oh dear - we have an entire generation who, through no fault of their own, have grown up in nothing but decreasing interest rates & near free credit. Big shock incoming. Started working in 1986 with interest rates at 15% I can assure you things are about to become unaffordable very fast. Gov't will soon find out crazy little rises will do nothing, then expect 2 basis point rises at a time, nothing less will work now.
Can't wait for interest rate rises we can have a working system again.
It would be electoral suicide so they will show as much restraint as possible on interest rate rises, regardless of what negative consequences flow from that. Governments always put the short-term first when there is an election never far away.
@@chrishart8548 Yeah and mass repossessions and homelessness. Older folk LOVE high interest rates so they can get more on their savings but younger folk suffer badly if committed to a mortgage etc.
@@maxthelab8457 I think that's the way its going. If you can't afford your mortgage that's on you. Should be 25% of income monthly mortgage payment should be around the same as weekly pay and affordable at 5% interest rates
@@chrishart8548 Well time will tell how they cope - but I hope younger people arn't on the sharp end of repossessions ( well anyone! )
Here in the States their are people who work full-time and are sleeping in their cars because they don't make enough money to eat and pay rent.
It's. Everywhere
Sick world
Be kind enough
In the states they would not let me sleep in my car.
And they tell us that capitalism is great because it creates wealth. Perhaps, but not for everyone.
@@456dave7 Even those who do not gain from it, gain from it mismo
It's crazy that people like this struggle with money, but then people like the girl Cash me ousside has 50 million dollars. Insane illogical world we live in.
🤣
Hahahahha
I think the government are disgraceful, greedy money grubbing leeches who don't give two hoots how the rest of us in the world do our best to keep afloat & get by. Stay strong everyone
Most people supported the inflation creating fiscal policies, blame the public.
The global market is "selfish". The West came up with this internationalised system of trading commodities globally. Which means there's global competition. Which means there is one global market where 8 billion people are competing to make the cheapest palm oil, oil, grain, wheat, copper, etcetera. Further, the US led the internationalisation of the US$ and then printed about 80% of all dollars created till 2020 in 1.5 years and then people are complaining about inflation. It was 100% expected.
Its happening all over the world even a very good government can not solve this one
@Mezzo yup sadly some of the public are too brainwashed by the government to think of the less financially secure.
Btw apologies for the late reply.
@Peter Hicks ditto! Heck if I saw an MP on fire while I was having a drink of water, I'd keep drinking the water. Sod the MP
I gave up using my heating several months ago. Whenever I feel too cold I get into bed with a hot water bottle for 20 minutes. I cannot afford to heat the house, so I heat myself.
Im sorry for u but the worst is yet to come
Stay strong Sarah
@@techstyle123 Having found out that the current government tried to take the vote away from people who do not have passports or driving licenses earlier this year & that they are right now trying to put through legislation that will mean people participating in peaceful protests will be electronicly tagged. So effectively treating people who want to publicly show their views like criminals. I am calling on everyone to please write to the leaders of opposition parties & ask them please to work together to ensure the electorate have a real & viable choice at the next election so that this country does not slip into an increasingly extreme right wing state. The current government seem to be in favour of attacking democracy by taking the vote away from some sectors of the population & removing our democratic right to protest so that we cannot even protest about their undemocratic measures.
That's just what they did in Victorian times...you know 150 years ago. Shocking in 2022!
They increase wages In pennies but they increase taxes and energy bills £500 a year regardless your are rich or poor
Things will only get worse until people educate themselves on the perils of artificially low interest rates that have destroyed the productivity of many countries and permitted governments to fund themselves via credit expansion, eventually it will cause supply shortages and after they rise to high levels - as they will have to it will take many years for countries to recover. this is all because the public are uneducated and fall for the illusions keynesian economics create and every single person who will run for political positions will always be a keynesian. REad ludwig von mises, read hayek, read turgot, richard cantillon and bastiat and educate each other by talking about these things. most of what happens in the world is simply to perpetuate these problems and the suppression of interest rates.
40% of income on rent is really tough.
They should have given the actual rent value for context lol what if they are earning £200k
@@samsara3694 Not really, how about rent is only about 10% of the income. However there is always a chance that the property is purchased but turned into Negative Assets. You haven't experienced that anxious feelings of negative assets house owners.
@@samsara3694 I have checked the UK House Price Index and it was 100 at 80s/early 90s and the current HPI is 493 reflecting house prices increased four-fold. Assuming rentals return are the same during this period then the rental burden can only be lessened now if salaries incomes have grown more than 4 times of early 90s income level.
Lol try 60% and I'm ok
@@-AAH- if rental is 60% of your income then maybe it's worth considering to contribute it towards an asset as @samsara suggests.
I'm in my 50's now and wouldn't want to be 20 for all the tea in China. I never rented, I bought my first flat in 1982 when I was 18 in FULHAM for £29K off a salary of £8K ( you could get 3.5x salary then quite easily ) - a similar flat there would now cost about £700K.............. The mortgage was about £200 a month as I recall, interest rates were double digit too, but it was affordable. What's gone wrong? It's beyond me.
Fascinating.
But is Chinese tea really that good??
These young people are our future and it’s about time we saw how we are not serving them, they will be the future workers and tax payers - maybe the current Gov should think about prioritising our young ⭐️
money is illusion no ones taxes are paying for me like you matrix people think
@Peter Hicks “good luck with that” yet your generation is the one who ruined it for us,
It's about time the people stopped voting for self serving millionares
@Peter Hicks what are you on about
@Peter Hicks were you born 1930 down?
why are people not revolting against it
it will be a waste of time sadly
It's not even living anymore, it's actually surviving at this point! Everyone's money hungry and it's so concerning! Let people live their lives without stress, we only have ONE!!!
If you import 300 000+ new people into a small island to resettle every year to compete over the existing housing stock, what do you expect other than hight rents & property prices will escalate.(100000+ BNO immigrants from Hong Kong came to UK last year).
London is insane. I live in Leeds and am now sharing with my partner. It's so much more affordable than even Birmingham where I grew up, let alone London.
So that means away from london right?
@May August people say the UK is getting worse. But is it still worth immigrating from really messed up countries like sri lanka,kenya,Venezuela?
@May August but its better than here. I cant even get a taxi or a bus anymore. There is a severe fuek shortage and there are long lines for then.
"You will own nothing and you will be happy"
Klaus Slob WEF dictator
I fully understand decluttering and living somewhat minimalist, but there seems to be this whole schtick about making us a society of subscribers and leasers.
People are talking very seriously about renting basic clothing such as t-shirts and underwear. I can understand renting a nice suit for a wedding, but going any further than that is ridiculous.
@@halfbakedproductions7887Imagine a world where the few own everything and the majority nothing?
These people in the video are mildly concerned. They are not struggling. This really downplays the situation.
I've never not sat with a blanket wrapped round me in the evening.
We're heading in to a perfect storm consisting of, climate change, energy depletion (we're running out of cheap oil), ecological disintegration and multiple, escalating, across the board debt crises. Increasing scarcity and erratic pricing will become the new normal and it is the middle class as well as the least well off who will be affected. Inflationary pressures might ease in the short term following governmental action but the longer term prognosis is very, very bleak. Young people today will not enjoy the same levels of affluence, nor even comfort, that the baby boomers and their children have enjoyed. And if we reach the point where climate change accelerates to the point we can not stop it our collective future will be far far more dire. The BBC, whose journalists and senior executives largely come from one particular tribe will, as it always does, seek to maintain the status quo and ensure that its well-healed people keep on riding the tax/licence fee supported gravy train.
oh dear oh dear,,climate has ALWAYS changed,oil prices are high because of usa not using their own oil,buying it instead,they have enough oil in alalaska for the next two hundred years,..in the 1980's mortgage rates reached 22% , and we're still alive,,,young people today have MORE affluence than those ''baby boomers'' who had to work bloody hard to get what they got because a world war had wiped alot of things out,,things are notas dire as you make out.....things change all the time ,go with the flow
those who say rates only reached 13% were obviously not there..
@@cyrilsquirrel2874 Utter nonsense. Alaskan oil is much harder to pump due to the severity of the elements, thawing permafrost and its distance from refinery infrastructure. So the net energy of this oil production in common with that of shale/tar sands and fracked oil is far lower. And that is why energy is becoming more costly. The CHEAP oil is is mostly gone, fracked oil has a return of no more than 5 to 1. That's 1 barrel in to every 5 out. In the 1950s the good cheap oil discovered in Pennsylvania, Texas and then many other states had returns of around 100 to 1. Most of that "sweet crude" has been pumped and what remains is harder to access and therefore costs more in energy and money. No renewable energy sources will ever rival cheap sweet crude. We are in fact on a global energy depletion trajectory. By definition finite resources eventually run out. Do your research properly before trying to patronise people who understand the science and the economics far better than you evidently do.
@@cyrilsquirrel2874 And as to climate changing, yes climate has always changed and always will. There are natural cycles. BUT the science (which you either refuse to accept or don't understand) overwhelmingly demonstrates that our current climate changes have NO historical precedent. They are happening far, far faster than all previous climactic changes that were not provoked by cataclysms such as massive volcanic explosions, meteor strikes etc. Human caused climate change is real and it is changing exponentially. Good science, corroborated by historical records proves this beyond doubt. That you choose not to believe this won't alter the empirical record nor save us from the coming crises of energy depletion and chaotic weather patterns. You are, no doubt, putting your faith in God. I prefer not to debate with irrational humans who put their faith in non existent supernatural beings. Your type of stupidity and ignorance could, and probably will, result in catastrophe for our children.
@@Lyra0966 climate change...yawn! avoid the BBC and give some critical thinking a go instead of listening to hysterical children thinking the sky is on fire.
The things I will change, two cover the cost. No sky sports Netflix, no nights out, pub, dining out, takeaways. Shopping for basics brands only, turn gas boiler down
Great reset playing out here.. hunger games society approaching..
The problem with London is firstly everything being more expensive, but secondly, it's so exciting for a young person and there's so much to do - which means you can very well spend more money on leisure on top of the heightened basic living costs.
When I quit London *all* of my costs went down, because I just wasn't going out as much.
The unjistice government should reduce the amount of council tax , taxes from salary and national insurance.
Because they taking half of your salary and leaving you struggling
And scrap the TV licence
Totally agree. It's soul destroying
20s and 30s! I’m so sick of hearing how hard it is for people in their 20s! I’m in my early 30s which means I was in work too during the last financial crisis and I’m only just recovered debt wise from that one and I’m also no where near able to afford to buy my own home!
People could save £156 a year by canceling the TV licence like i did yeeeah
@Isabella 🔥 err no isabella I cancelled my tv license so i no longer watch TV I watch Netflix and amazon prime an yt all of which no license required hope this helps
@Isabella 🔥 I still have a normal TV 📺 I just don't watch live TV anymore I only watch prerecorded programs and films all of which don't require a licence saving me money you only need a licence for live broadcasting tv in the uk
University is such a waste of money
Especially when arts/humanities degree holders can walk into any job they like, including the STEM ones. STEM graduates are pigeonholed and stuck.
Not to mention modern apprenticeships, 'bootcamps' in bandwagon career areas such as cybersecurity, and a plethora of online learning opportunities meaning that degree holders in specific disciplines are now worthless and basically anyone can upskill for any job they fancy...
You're right. I have an MSc and it got my toe in the door, but that's all. It has absolutely _not_ done a V8 twin turbo for my career at all.
I'm taking advantage of everything I just talked about. My degrees are in CompSci but I am now retraining in digital marketing. The CS job market is flooded with bootcamp grads and hobbyists meaning brutal competition.
I agree. They're more often a con than not. I read somewhere that 95% of Americans with uni degrees end up in work that has nothing to do with those qualifications. That sounds very high, and I sincerely hope it's not true. I wouldn't be surprised though. The ones using them are likely doctors, dentists, and some (but not all) lawyers.
I feel sorry for young people. I don't have any sympathy with old age pensioners who've really had it good. Most of whom in my experience are racist, rude, obnoxious and quite frankly not very pleasant. Having had a lot of experience from my work dealing with older people I speak from butter experience. Young people are vibrant, ambitious and full if vitality and we've just shafted them.
Really stupid shallow minded comment !
Amen
You do realize those old people as you call them used to be vibrant ambitious and full of vitality they have earned those pensions
Yeah course they were, lol :) i suggest you go and wTch some 1970s programmes like rising damp and love thy neighbour, that'll show you their vitality and ambitiouness. Vitality and ambitious to put other people of a different skin tone down all while living in their semi detached house that they bought for £4,000 and retired on a final salary pension with lump sum, oh my heart bleeds for you. Yes, that's your problem you're so entitled, I work with older people and oh my god the level of entitlement is unreal so don't start playing the Bamber Gasgoine with me whilst living in your £2,000 house that now costs £300,000. Next you'll be blaming young people for being lazy, something you oldies just love doing.
@@debbieframpton3857 you forgot they’re racist let them die they’re no use to the world anyway
And the older generations say we millenials are lazy for not wanting to leave our parents house, have these people seen the cost of basically every single thing in the world, rn? We need savings, we need way better wages, specially in 3rd world countries. Some d-bags will say: "Well then, you should have studied to get a better job!", my friend, there's not enough good jobs for everyone that wants them, and not everyone that tries succeed in life, so, are we going to sentence these like 90% of the population to a terrible life? Even if they are trying their best but life happens? WTF!?
What about cost of housing! No ones mentioned that. If that wasn't such a problem the increase in inflation wouldn't be so potent.
Is Brexit having no impact or so little that it's not mentioned by media in general. Seems odd.
Inflation is due to all the money printing for covid not brexit. Inflation is an issue everywhere not just UK.
Brexit is not the issue. Inflation is caused by the central banks increasing money supply to monetize government debt. Inflation is happening in in all countries that have MMT (Modern Monetary Theory) central banks (e.g. England, EU, US, etc)
Yea I feel for this couple we are in a similar circumstances
If these two young people shared a flat their money would go further, living alone today is too expensive.
I promise you none of these people are living alone.
Why should they? UK population increased by only 20% over the last 50 years. Don't tell me construction of new houses couldn't have kept up with population growth to make it possible for everyone to afford a private flat.
Will be leaving the uk
It's not just young people. Some of us oldies are worried sick too. Extortionate household maintenance charges /counciltax/ground rent and nothing for repairs. Just to name a few. All ages are struggling and in all ways
All the focus is on how older people have been struggling. It's nice to be able to watch a video of younger child-free graduates in their 20s struggling, and to know that I'm not alone in feeling that way.
At least kids in their 20s can move in with parents. When you are retired and cannot work and are on a fixed income that does not alter with rampant rising inflation it comes down to starving or not taking medication. Poverty is a huge issue for everyone yes, but our very oldest and youngest will suffer the most. Having working age people (18-65) unable to make ends meet ultimately has a knock on effect of generations with no savings and no homeownership. Unless people get together and start demanding for universal housing to level the playing field, housing costs will continue to rise. Utilities need to be public and affordable. Food can be subsidized. There is a lot a country can do and should do for its people. There’s no excuse except greed for how economies have unfolded in modern western countries.
This isn't a competition. Young people still have so many years of their life left and are struggling horribly in their youth, so this video was about them. Nobody said your age-group isn't struggling.
@Peter Hicks The boomers are the one's in power as huge politicians who are running the world so...The younger generation came only around 2 or 3 decades back, and have only just started out doing big things, important events and decisions have always been in the hands of boomers and baby boomers.
I just hope I die young so I don’t have to deal with climate change and what’s to come. I wish it wasn’t like this but this world is bleak unless you’re rich.
Worked hard my entire life to get where I am today. 40k a year and it doesn't doesn't touch the sides. Sick of it.
You gotta strip it down to shoe string budget
It is really sad that instead of going forward, we are going back and this is heartbreaking for parents of my generation (or any for that matter) whose hope and dream was that their children could live an even better life than theirs, and yet they see them struggling and the road ahead is a steep uphill climb and barred, in many cases. It's not right that our generation should have a stranglehold on wellbeing.
Is it only 'young people in London' who feel this pinch? I think not. London is not the be and end all of the UK!
The Tory Government don't see this problem, never have and never will yet voted in again and again. Rip off Britain.
Have you not heard of the great reset? This is orchestrated madness to grind us all down to accepting UBI and own nothing.
It's a small club and we ain't in it .
How could inflation rate be 7%?? I think it would be more than 12%, considering my overall spending
All of your concerns, are the exact concerns and problems in the US now. We are really sinking financially as well.
Ms. B. Churchill (USA)
come to Ireland where 70% of your wages will go just for rent nothing else
Yep ! That’s I pay ! Live off €200 a week and less and now rent going up extra €50 so won’t be able survive on €150 a week . Ireland is a disaster !
@@sarahmc8309 correct my partner and I already left Ireland moved to Europe and never return to Ireland probably the most expensive place in Europe lol..
Is this even a inflation
Go to countries like sri lanka, Lebanon, to see what is really a inflation
I don’t really understand why they’re paying council tax and bills at all. Just rent a small room in a shared flat or house share. HMO don’t attract council taxes and the electricity is split up between all the tenants. This is very different from when I was in my 20s. I think the idea of getting a flat to yourself until in thirties even just renting was kinda out of the question.
It’s not just hard for young people I worked in my job for 22 years and left after losing my mother in 2020 I started a new job last year due to having problems with my spin and having a son with asd and mental health I had to give up my husband is now the Iy one working so we only have one wage coming in now I’m 42 you come to realise a job is not for life and a boss will replace you
Growing up in England during the war years, I well remember rationing and other restrictions. Well, like thousands of others, I/we survived but never forgot. You can take a person out of poverty, but the memories of poverty will never be removed influencing your monetary decisions forever. Brits need to be penny and pound wise from here on out. God Bless from a Brit residing in the USA.
Newsflash-everyone is struggling!
Since I am from Venezuela, I know pretty well what is inflation, just as an example: in 2021, Venezuela had 686%, and in 2020 it was 2900%. So, in my case in 2015 I decided to move to Canada and then in 2019 moved to Spain, and what I can tell you to protect your money is:
1) Request a personal loan in the bank if the interest rate is less than inflation (for example in Spain, banks are giving loans with 3-4%, while the inflation so far is 9%)
2) Buy with your money goods and services that you truly need and think in the short/medium term.
3) Think to buy a property as an investment and rent it to pay your mortgage.
4) Invest in your education or buy gold or any other thing that doesn´t fluctuate so much.
5) Think in other ways to generate money.
Very well said , I can I just add, invest in things that are real, not fraudulent cryptocurrencies and stop giving power away to lying politicians and dictators that rob, lie steal and cheat and are in the pockets of corrupt business and organised crime, just look at Russia and mafia Putin government. Rethink what is wealth and quality of life, fairness, honesty, justice, clean streets , beaches and rivers, well educated happy citizens with freedom of expression and freedom of speech. I have told many of my friends to stop bullshitting on about crypto currency when 3 million people in Venezuela have been displaced due to a collapsed currency caused by corruption and meddling governments. Currencies don't really even need to be backed by gold to be good , they just need to be honoured. America has caused mayhem because it never settles its debts, lives the high life / La dolce vita, whilst vast swathes of the planet exist as Les miserables. Hope you are ok.
Buy to let properties are why we’re in this mess
@@Jazzfunkmaster not wrong, aspiration has usurped/trumped inspiration!
I don't need to worry because soon as possible world war 3 at anytime
Government should offer cheap rentals and housing options increasingly.
The only way to do this is for others to subsidise this through increased rents.
Social housing just inflates prices for everyone else.
Err I think you will find that the Gov't SOLD off most of the social housing and forgot to replace it.
When you say the "government" should offer cheap rentals, you must mean taxpayers. So, you and everyone else will be doing the subsidizing.
@@simonmorgan225 How do you come to that conclusion?
@@maxthelab8457 supply and demand. If house prices rise too high first time buyers can't afford to buy. Without first time buyers prices drop as people cant sell to buy.
Any programs that allow people to buy property they otherwise couldn't afford ie. the right to buy or 5% deposits etc. Effectively just prevent prices dropping to levels they naturally would. This has been exacerbated by not building enough houses for decades.
2:03 You have to save on butter.
$150 dollars in groceries in the US gets you 3 little shopping bags. Everything is so expensive right now.
Wtf you buying?
Feel for them 🥺
Seriously at this rate of inflation...get yourself a rv/caravan...40% of salary on rent...
Yes, it doesn’t make people feel very hopeful. It makes the future seem scary.
Life is a reaction there Jen
@@-AAH- Ok. Blocked.
lol
I'm about to buy a place with some equity down and feel slightly nervous, but the payments will be 30% of my monthly income and these poor people are having to rent!
high inflation has been around only it was contained in the housing market. too much liquidity and not enough goods. it cant be saved.
Left London and the UK for good! It’s gone down the toilet. I’m in my mid 30s, I left London 7 years ago. Best decision I made! If you can, leave!
Where did you go if you don't mind sharing
What about the people who have family and support networks in London? What they're supposed to just completely uproot their lives completely yeah?
@@preparetoholdyourcolour7080 I also totally resent this bollocks about "just move mate" as if it's that easy.
That 'advice' comes from people who always lived in a cheap shithole and never left. We should not be normalising young people being priced out of their hometowns, forced to walk away from their roots, their family life, their friends, their old haunts, their heritage, their memories, a probably alright local job market. Just so they can quit London and move hundreds of miles to a shithole they have no connection to, all for the sake of "getting on the property ladder". Chances are they now need a car for the first time in their life because the public transport is arse, their new job is probably in the nearest major city which is 9 miles away.
People are now being priced out of Leeds and Manchester just like they were in London. Even Newcastle is becoming traumatically pricey in the nicer parts.
Inflation isn't 5% as everything increased in price a third and continues to increase
The queen got it made a golden carriage 💬
Live kingston with a partner as its a 30 mins journey-an hour for both of our jobs with partner
Bills have one up too £50 a month (each)
Despite both of us getting pay rises, with the Council Tax going up my partner is down £25 a month. I am about break even.
Now our landlord wants to increase rent, despite still no painting or renoventing work since we moved in that was promised, our windows are not correctly finished, we can damage the window sills easily.
Our weekly shop has gone up from 50-60 quid to now in the 80s and I am eating less, smaller portions and more veg.
Sometimes we go to do our shop to find the fruit and veg section pretty much empty. (We checked Lidl, Sainsburys and Tescos all near us).
Also I spend 15-20 on the bus per week to work and catch lifts with co-workers/friends.
Like? Despite get another job thats WFH with a better salary what are we to do?
I remember being a student in 2010. Compared to my housemates I was eating like a Russian Tsar - and it cost me £30 a week. £35 if I splurged. Nowadays as a working adult on nearly £40k, my weekly grocery bill is more like £70-80.
Moved to my current area in 2012 and tried out a local Indian takeaway. I felt absolutely beached after my meal and it was £13. Fast-forward to 2022 and the same takeaway, same meal, is £24 and the portions are smaller.
Very good 😱😱😱😱😱
The problem is most people under 35 years old haven`t experienced hard times in this country. By the time they were actually working, as opposed to fannying about at university on crap subjects, they enjoyed the good times: low interest rates, cheap holidays, low inflation, easy mortgages and credit, PCP car finance etc. Now it`s wake up time: time to remember all good things come to an end. I started work in the early seventies when we had endless strikes, power cuts and the three day week, Interest rates at 15%. My mortgage took a very large amount of my take home pay and to keep the family going my wife had two night jobs: i`d come in and out she`d go to work in a hospital nightshift. But I had it easy compared to my dad who was blitzed out of his home in the East end and moved to a prefab in Essex where I was born. Stop feeling hard done by and just get on with it. the good times WILL return.
Good for you
Good boy
Sounds like you failed your wife, why weren't you doing nightshifts? What kind of man are you?
Welcome to reality!
Travel 60£??? Im in london, travel costs me 200£ hello!
Big thank you to clowns running the country they couldn't be less interested in your circumstances there very happy taking your money
Fix fkn audio.. I only get in left earphone... horrible quality sound
Traduire en francais
40% of salary on rent? What is the birthrate like in the UK?
This is London everything is way over priced,
Mortgage Rates Chart | Historical and Current Rate Trends
For the week of Oct. 9, 1981, mortgage rates averaged 18.63%, the highest weekly rate on record, and almost five times the 2019 annual rate.
Average mortgage interest rate UK 2021 | Statista
20 Apr 2022 - In February 2022, the 10-year fixed mortgage rate was at its lowest at 2.2 percent. Since 2009, mortgage rates in the United Kingdom
I remember those times...
150 pounds on food per month? I spend 1k on basic food per month.
young Londoners live hand to mouth, having spent my 20s in smaller cities, I never had to feel the pinch like these professionals do
They really don't. I bought a flat in London in 2020, I'm on an average salary and bought alone, on the open market, albeit in zone 4. The people in this video just live extravagant lifestyles. They're also being deceitful re the figures. There's no way a single person is paying 165 in council tax. They are giving the figures for their joint household and passing it off as their own to make it sound worse. The only time i lived "hand to mouth" was when I first moved here and was on minimum wage. But within 5 years I bought a flat.
@@jenjones90 what do you mean by average salary? Average UK, so £26,000 which makes it extremely hard not to house share in London, or London average salary, which is £54,000 and an extremely good salary, almost twice over UK
Gotta pay the council!
You get picked on for being on benefits, yet go to work you can't manage
My left ear enjoyed this
Move to a Northern area or abroad maybe? I mean London has always been expensive.
It is the same for many people in their 30s.
Don't be afraid young people! Stick to your budgets tightly and don't spent more than 25-33% of your income on rent. Yes, in London it's nearly impossible for a young person to do this, but as long as you can put aside a 30-50% of your income, you are on the right track. Remember, time is on your side and the sooner you start saving, the better. Oh, also pray not to be hit by some Greek-style recession down the road (that's out of your control anyway). Tip: if you see it coming, pack up your stuff and get out. Once again, the sooner the better.
It is coming very soon and it's not going to be pretty.
It seems most rent is 40% of people’s wages whether like it or not. Sometimes it is the cheapest accommodation close to their work and moving isn’t ideal either. It seems like a trap. 😔
inflation makes saving depreciate in value while the increasing cost of absolutely everything means that saving short term to buy ssets is also out of the question. The issue is our government and the absolute cronyism with corporations and oligarchs able to use the system to steal wealth.
150 for food? I pay 300 for food and I don't even live in London!
I paid over £320 for 1 trolly of average shopping in tesco . Shocking. I remember when £52 was an Insane amount. And that was with loads of alcohol for a party. Probably around 2002
True
What are you buying. I spend 40 a week on food
@@BLACKCELEB all the wrong things probably it's for the family. I don't eat most of it. I try and be healthy but it's a working progress converting them.
I was about to say. A £20 grocery shop can barely stretch me to 3 days.
Raise interest rates, simple prevention overdue a decade ago.
Only if supply and demand are roughly equal, which they aren’t now.
Raise the interest rates then the people that stretched themselves to far learn a valuable lesson.
Welcome to the world of Consocialism. We're seriously screwed. And voting Labour won't help - it'll just exacerbate the problem.
Labour don't even oppose anything the cons do.
Don't vote for any of them. Same party, different colours. Same in the US. It's a game of chess.
@@misst.e.a.187 What does voting change if politicians are paid legal bribes by lobbyist?
i dont get why is it only the uk that's worried? I live in Copenhagen inflation here is crazy too, price of food has gone up, electricity bill gone up, petrol is up too but yet we seem lot more chill than u guys why is that? just wonder.
Cos we're poor mate
@@shoaibahmed57 come on ur not that poor u guys make more than lots of other countries if u compare it to like Asia. I live in Jakarta for 10 years before moving here and their lot more poor than u guys.
@@danielpedersen1688 technically you're right but in reality it's not that simple. Yes we make more money than those countries but the cost of living is also higher here than in poorer countries. Half of our wages just go on rent and then you've got prices of food, petrol/diesel, energy and other goods & services only increasing. My uncle owns an Indian takeaway and the price of chicken has trippled recently and that's just one example of the current high inflation
@@shoaibahmed57 that’s true same here with the price of petrol it went up like crazy used to be 1,49 pounds now it’s up to 2,29 pounds so yea quite a lot. Supermarkets prices went up double here as well, but then again my disposable income is probably higher than u guys even though we pay more rent about double than in the uk then it’s still bad but not crazy bad as u guys have it. Probably cuz our hourly / monthly wages are higher as well compared to u guys
@@danielpedersen1688 yh you probably have more disposable income. I work at tesco on £9.55/hr and the only reason I'm somewhat comfortable is because I live with my parents who are on benefits themselves
maybe switch the heater off completely and wear more cloth? when we were poor back in the 80s that how we coped
Use your own brain to research online how much debt was generated “money digitally printed and loaned” since the start of the pandemic and you will understand what life has been all about for the past 2 years
The great reset
Agenda 2030
Food is £200 a month for one?!! Come to Devon, you'll pay less than HALF! I pay £20 for a week's worth of food shopping for one, in Aldi.
Well I live in Devon - what on earth do you subsist on for £20 a week...plain pasta with boiled cabbage? The prices here are the same as everywhere else.
Here's an idea, end the foreign wars and intervention, reinvest that money into your own society to improve lives of ppl
Paying the propaganda licence is also scary
I really hope it doesn't get as bad as the seventies and eighties. When I had my first job I couldn't afford new clothes other than bits of underwear. At least some stuff is cheaper now, but if things go to high, the economy will collapse, because only the extreme rich will be able to afford anything.
how about as bad as the 1930s ....then we'll see who's made of sterner stuff
It is likely to get much, much worse over the coming decade and beyond. We passed peak oil around 2006. Oil use and GDP have been in lockstep since the early 20th Century. When oil is in short supply economies suffer. As did our economies in 1970 and 1973 during the OPEC created 'oil shocks'. So as oil and other fossil fuels decline - and fracking will make very limited difference in the long term- so will our economies. Increasing shortages of everyday goods plus price hikes will almost certainly become more frequent in the near to mid term.
@@cyrilsquirrel2874 The quality of life was too different from today, for a comparison.
@@Lyra0966 I've often thought for a long time, that we have been over producing goods, using too much of everything in the developed world. We need to change.
@@Lyra0966 It's actually a good thing if oil goes down and the high price will force people to walk or bike more, not only would that be healthier for everyone but better for the environment. People wont change until they are forced to change, i think the high prices are a good thing
I hope erope and American inflation will make their country collaps if they don't want to try to stop the war. I hope they realize their mistakes that trigger the war go long.
Honestly it's a joke now a days I earn about 700 a month 400 straight to rent 350 straight to cms for kids that aren't actually mine worked throughout lockdown received no help or furlough etc now all the key workers are paying back everyone else's furlough period and getting stung like wtf...
How is local law enforcement living? Your homes are their cash flow. Get a tent and leave the indebt properties immediately. Or they own you. Its corporate welfare. Walmart, cvs,mc Donald's haven't made payroll in years. Their workers need assistance because of low wages. Yet,walton family is the richest. They made more this past year than ever.
Says someone who buys Anchor spreadable butter 😅
When we bring this up, people always say "why dont you move out of london?" its a fair point but some of us really like it here for different reasons. I been here all my life and i have all my friends and family here, i also really like the diversity and amount of activities you can do here. Its not gonna be the same if i go to some quiet place up north :(
Well tough. That's the reality.
I’m so glad I’m in my 30’s
We're am from inflation has risen by 25%