Well, eventually they’ll all be dead…
It’s insane the largest group of home buyers is boomers already, but obviously they can’t keep it up for more than a decade or two max.
Trying to get into a small 2 bedroom was so hard in my area. If the house was in good shape and didn’t have stairs, downsizing boomers were throwing giant all cash offers at the home with 30% over asking.
We need to normalize retirement communities.
The last thing I want to fuck with in old age is maintaining a house. We need “condo subdivisions” close to supermarkets and other amenities.
I have no idea why a 70 year old wants to deal with home ownership
Isn’t that supposed to help to some degree? I thought part of the housing trouble was boomers staying in large homes too long meant less homes for younger families with kids to use.
It will make it easier to get into homes with 3 or more bedrooms, but it makes it harder to get into smaller 1 and 2 bedroom “starter” homes.
In my area I’m seeing that that the barrier between renting and owning a small home is bigger than the barrier between owning a small home and upgrading to a larger home.
How could they not? Do boomers not die anymore?
Just waiting for the boomers to die out and the market collapses to follow
Maybe my grandchildren will have financial stability
Yes.
There are multiple ways to buy homes.
Also people do not live forever. Baby boomers die. They go to assisted living and home get sold.
On top of that, we really should be focusing on corporate ownership of housing artificially inflating prices of homes, but instead we get propagandized into dividing generations
I think the reason younger people are upset at boomers about this isn’t that their generation caused it directly as a generation of people, it is that (at least in the US) the general complete lack of awareness about how austerity, deregulation of everything and trickle down economics is utter nonsense coupled with a deep distrust of any kind of unions that in general defines the (US at least) boomer generation created a huge space for corporations to eat away at the foundations of the society that made boomers able to live relatively high quality lives.
Yes it is the rich that are ruining everything, but boomers still bought the bullshit the rich were selling hook line and sinker and most refuse to interface with that at all even as they watch their kids clearly growing up into adults with much less quality of life than they had.
So yes, let’s keep this focused on the rich but that doesn’t mean boomers don’t deserve shit, especially middle class and wealthier boomers in the US.
And Wallstreet is buying every home they can get their hands on. You’ll rent and be happy about it!
Yes this. I also know of multiple boomers who have done the reverse mortgage garbage to maintain their lifestyle.
Kids didn’t even get the house when they died. The bank got it back.
Never understood why anyone would agree to a reverse mortgage. Unless they really do not want their kids to have the house for some reason.
I can see it working if you have nobody in your life. For example, I have no kids and zero interest in my POS extended family that I’ve cut off amyways. If I could afford a house now I would legit consider a reverse mortgage when I’m older for extra income.
Sold to a Chinese corporation that outbids every prospective individual or family purchaser to tie down the area housing market and rent the houses to people at high rates.
God bless America.
Wallstreet outbuys China in every US market
Are you under the impression that there aren’t Chinese companies on the American stock market?
When you are looking for the root cause of something, do you focus on piece of the whole problem, or the whole problem itself?
