Boomers won’t part with their homes, and that’s a problem for young families
Boomers won’t part with their homes, and that’s a problem for young families
Buying a family-sized home with three or more bedrooms used to be manageable for young people with children. But with home prices climbing faster than wages, mortgage rates still close to 23-year highs and a shortage of homes nationwide, many Millennials with kids can’t afford it. And Gen Z adults w...
Buying a family-sized home with three or more bedrooms used to be manageable for young people with children. But with home prices climbing faster than wages, mortgage rates still close to 23-year highs and a shortage of homes nationwide, many Millennials with kids can’t afford it. And Gen Z adults with kids? Even harder.
Meanwhile, Baby Boomers are staying in their larger homes for longer, preferring to age in place and stay active in a neighborhood that’s familiar to them. And even if they sold, where would they go? There is a shortage of smaller homes in those neighborhoods.
As a result, empty-nest Baby Boomers own 28% of large homes — and Milliennials with kids own just 14%, according to a Redfin analysis released Tuesday. Gen Z families own just 0.3% of homes with three bedrooms or more.
You're viewing a single thread.
Boomers are the largest private owners of homes, even more than actual corporations that are actively buying and raising housing prices in order to pad their books.
The only way out of this is a financial collapse and that will end up killing millions before the market actually reaches a reasonable price and rate. I don't want this but this seems to be the direction the current macroeconomic conditions are heading.
2024-2028 are going to be some of the most shitty years in human history
2024-2028 are going to be some of the most shitty years in human history
I doubt that. Compare your modern life of general comfort to the lives that human beings lived just 200 years ago. I'd much rather live in 2024 America than 1800s America.
Yes, I'm sure the complete breakdown of government and banking institutions is going to maintain a reality just as good or better than the 1800's.
Do you know how to hunt, fish, farm, and prepare all of your own food and shelter? If not, you'd better hope to stay in modern times.
Seriously, people literally do not realize how good life is because all they know is complaining about what's not perfect.
Having electricity, running water, toilets, access to just about any information in the world with the Internet... all that you take for granted. They did not have most of our modern amenities for the vast majority of human history before our modern times. Life was a fucking brutal struggle for survival for much more of humanity then than it is now.
Yea, and I'm making the case that we're heading back there or worse, given the macroeconomic outlook and the overall failing of the regulatory bodies responsible for the banking industries globally.
I have a freezer full of Hot Pockets so I’d say I’m as ready as anyone.