The News at Nine by Phoebe Violet.
“We are sitting on a huge financial time bomb…” 27/05/25: a summary of today’s current affairs…
Listened to: BBC Radio One. — BBC Radio Four. — Frequency 93.2 from Whole Foods Clapham. — LBC Radio Station. — and general discussions between strangers, friends, and family…
LBC Radio (callers from the public): 9:45 am on Tuesday 27th May, 2025
Caller: John in Sunderland, trained via an apprenticeship in bricklaying, plastering and masonry - mentioned that he enjoyed having actual builders as teachers - taught from 13 years old onwards - all people training//working alongside him had a personalised stamp that they used to brand their tools with - meant that if cash was tight they were able to sell them at a pawn brokers for some extra cash, the stamps showed that they weren’t stolen goods so the slaes were accepted if the brokers knew the tools were being sold by their owner and hadnt been nicked. this was back in 1953. earining £2.10 a week. From this work John was able to retire at 51 years old after a very succesful career built on word of mouth recommendations.
Interviewer (Nick): ‘Would you be where you are without an apprenticeship?’
John: ‘…no’.
New Caller: Chef, began his apprenticeship in 1983 within the army. ‘Trained in culinary arts and military trade’. Learnt the ins and outs of nutrition and balance…served as a soldier for seven years…Lead to him developing his career in the kitchen, worked as a ‘Flavourist for Schwartz’…and was a Senior Manager within flavouring at Heinz as well I believe. Then was also about to go into the culinary side of professional sports, was a big part of the company BT10 before it unfortunately was disrupted by COVID-19. Chef states that ‘without an apprenticeship (he) would never be where (he) would be today’.
Frequency 93.2 from Whole Foods Clapham. — discussion about the housing market // rental crisis. Spare Room survey just recently published underpins // guides these conversations. (think it was Laura Kunesburg directing these conversations//interviews but can’t be certain…don’t even know what radio station it was from I just tuned in on a wireless while having some munch…
Tonya: Edinburgh, speaking on her daughter’s experiences moving to London to rent as a post-graduate worker.
daughter is flat sharing in a more affordable part of London on a postgraduate monthly take home (post tax) of £1,550. Her “affordable” flatshare was a base rate of £850 per month and then bills on top. As a mother Tonya realised she would need to help her daughter pay her rent for her to be healthy and to be able to advance in her career at all in The City. Tonya’s experience of working her first post-graduate role in The City in the late 80s was she could comfortably rent and save for a year and was able to buy a three-bed flat in a nice part of town to live in with friends one year after graduating uni and starting work. Tonya states she: ‘can’t ever see her (her daughter) buying ever!’
There is no return to comfortable finances if you are financially independent from your parents once you get caught in the rental cycle having moved out for university at 18. Stuck in a cycle of unaffordability. Unable to save to buy.
Should you pick a university where you can live at home while studying…? More and more people appear to be doing just that.
we are becoming more and more Americanised across different areas of life and culture than we even dare to acknowledge.
mortgages need to be made more accessible by using rental history when proving financial status to banks.
Spare Room recently published a survey using the data of over 650,000 people - this survey underpins the whole interview I’m publishing note taking of.
housing prices vs salaries
Graduate salaries must reflect the money invested in your degree
or people will (lots already have) stop going the typical university route in order to save more money, avoid debt, and get on the property ladder as soon as possible. The longer you wait the worse the situation will become.
Quotes from the Director of Spare Room:
“not just a London thing” — “26% of people spend more than half their take-home pay on rent” — “the desire for home ownership is unchanged” — it’s about “the financial assets of a home” — “the accumulation of assets” — “homeownership allows governments to take a step back from (providing) decent pensions” —
Security of Tenure.
the mainland European rental system is drastically different.
have a higher focus on long-term rental agreements - the responsibility then falls to the tenant to maintain the upkeep of the property -some believe this is why the British have not yet fallen into line with the same system.
How do you go from renting to being a pensioner…?
you take out a lifetime mortgage: in simple terms, you pay rent on a pension…
“We are sitting on a huge financial time bomb…the government will essential pay to house a generation…” (if this doesn’t get sorted out here and now) - Director of Spare Room…
…I’m assuming the interview was with Rupert Hunt…? Or potentially Matt Hutchinson (Director of Global Comms at Spare Room). I joined for the mid-section of the interview and the interviewee was being referred to as '“The Director of Spare Room” at that point.
Still to read: Instagram Stories — click here to view — discussing the impact of the above with friends and family.
Still to write: Testimony from: Nigel: 62, St. Alban’s. —
Still to Watch: American Manhunt: Osama Bin Laden.
Currently Reading: Seneca, On the Shortness of Life. The Myth of Sisyphus. The Snow Ghost, Classic Japanese Ghost Stories by Vintage Classics. Romeo and Juliet. GQ, Ben Affleck: A Visit With The Boss.
all done with a view to Learning.