the young ppls today saved more than elderly in order to repay the elderly the monies for buying their first houses...well done
gd outcome for property buuble burst is that the leftover supply can be picked up cheaply
i beg to differ. young pple tend to spend more nowadays as compared to the older ones. they mainly spend on luxury goods..
George - curious. Where did you get that fact from? Or is it just an impression?
It doesn't matter who saves more. At today cost and standard of living and almost 0 bank interest rate, how much you save is never enough for an ordinary wage earner. For that matter even a U graduate worker. Especially for those who have a family. You must learn how to invest or else you will retire with nothing much to depend on. i think most working classes are in this situation. It happened to me 25 years ago. Now i think the economic/political situation is even worst for most people who don't learn to invest except learn how to save.
(13-02-2013, 10:20 AM)godjira1 Wrote: [ -> ]George - curious. Where did you get that fact from? Or is it just an impression?
My impression is younger ones spend more on luxury consumer goods, while older ones spend more on luxury property and car
The end result, younger ones spend less in absolute amount, and manage to save a bit more.
P/S: purely impression, not supported by data