Glad they survived until they got old

17 Feb 2016

In 1965 when the Who sang about their generation and hoped to die before they got old, the future seemed bright for the young generation: it was the era of the teenager. Today, the Who are of the generation which has benefited most from economic growth since the Global Financial crisis, while the young, Generation Rent, face an increasing challenge ever to own their own homes: their incomes have risen slowly, many must repay student loans and homes are increasingly unaffordable.  According to the Office for National Statistics, houses prices rose 6.7% in the year to December,  well above the incomes of consumers as a whole and the young in particular. Forecasts from PwC suggest home ownership in London will fall to just 40% in 2025, compared with 60% in 2000. So in the past 50 years, the UK has gone from the age of the teenager to the age of the pensioner: Roger Daltry is glad he survived for so long.

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IRN Team