Millennials own less than half the real estate wealth of boomers—can they catch up?
Millennials own less than half the real estate wealth of boomers—can they catch up?
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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.
Just enough time to ruin the retirements of millenials and screw up their children's generation too
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
I work in hospice and regularly visit independent and assisted living facilities. Some are set up like duplexes, some are condo/apartment style. The costs of these facilities can be insane. One of the cheaper independent facilities I was seeing a patient in was charging just over $6000 month for a one room studio. Yes, utilities were included with basic basic cable channels.
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.
I think part of the problem is that when those houses are opening up, investment groups are buying them for rentals.