What's luck got to do with it.

[#1]

Watching a television programme on TF1 last night and listened to some wet behind the ears young journalist expound on "how lucky we are to own our own houses"  - but to paraphrase Tina Turner "What's luck got to do with it?"

Luck is when you win the lottery or the trifecta but those houses we paid for with our work every day and for many throughout their working lives so no, it's not luck, we deserved it.

Talk about the media trying to guilt trip home owners - it really does make me mad.

[#2]

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Minivanman wrote:

  - but as Tina Turner sang, 'What's luck got to do with it?'

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Sorry @Minivanman but should that not be to paraphrase Tina Turner, "What's luck got to do with it?" as the original lyrics are "What's love got to do with it?". Just saying.

[#3]

Edited 

[#4]

My Great Granddad had a chance to buy a mansion but preferred a drink instead. Pity as it's now a hotel and I would have made a good Basil Fawty.

I had a choice between a mortgage and giving up a few things like dinner down the pub. I went for the mortgage. There was absolutely no luck involved.

The only luck here is in the young journalist having a job.

[#5]

I suppose the luck part for some (I.E. not over-privileged types living off the bank of parentage who laud it over others) is being lucky to find a job that pays enough to "buy" (I.E. mortgage, so the bank owns it in reality) a liveable house in which to exist to just pay bill after bill 'til the day they pop their clogs, while the rest of us have to rent privately, paying about the same as those with a mortgage but with nothing left at the end of it...

[#6]

Well that is true up to point as these days it's next impossible even on an average wage to afford a mortgage - or rent come to that, but it does not negate the fact that those of us that worked and saved hard for that deposit, took out mortgages and brought up kids back in the days of wives at home and single wages packets were not "lucky". We worked and worried for years - at least I did.  What I will concede is that at least back then buying your own home was possible whereas now and as said, it's next to impossible.

Maybe youngster were 'unlucky' not to be born seventy years ago but there again they, or at least their children, will inherit as the number of outright owners of homes now outstrips mortgage holders.

https://www.theguardian.com/money/2015/feb/25/owners-outstrip-mortgage-holders

[#7]

Another problem for younger people who are in a job and on a average wage is that there is less job security now than there was 40 or 50 years ago, many people, myself included were in the same job for a life time,it was poorly paid with no bonus or overtime available but providing you did the job there was little fear of turning up to work one morning only to be told you were no longer required.

The point I am making is that taking on a mortgage these days is a greater gamble than it was for most people than many years ago, lose your job and with no source of income any money you invested in the house is gone, you might easily end up owing money and no where to live.

[#8]

I remember being lucky enough to pay 15% interest rate on my mortgage unlike the unlucky souls paying 3.5% today.

[#9]

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gleneagles wrote:

The point I am making is that taking on a mortgage these days is a greater gamble than it was for most people than many years ago, lose your job and with no source of income any money you invested in the house is gone, you might easily end up owing money and no where to live.

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Of course much the same applies to rented accommodation except the bit about having any money invested in the house.

Yes it's good to be reminded of the 15% mortgage interest I was paying. The good old days as so many are keen to point out.