Ok Boomer. Now You are Gonna Ruin the Housing Market

Well i am not agreeing or disagreeing with the article, but thats a lot of inheritence money just sitting there. And it would depress a lot of local communities. I personally think it will be localized, but i cant say for sure.


a reply to: DanDanDat

What you wrote has nothing to do with the article. One would assume all those homes are 90% paid.off. The problem would lie in trying to liquidate those assets for say....a retirement home, or moving in with relatives if one were to become unable to live on ones own anymore. And again, this asset could become a burden to the kids.



a reply to: Iamonlyhuman

The articles i posted that you didnt read suggest it.



a reply to: mikell

Best go ask your grandkids if you can join their safespace then. 😂🤣😅



a reply to: Hecate666

Ummm, the op is not about insults. Go ahead...read a link.


a reply to: Finspiracy

a reply to: lakenheath24

Well, it turns out all the drugs and heavy living has taken its toll. Many boomers are dying of cancer before making it to 70 anyway. I doubt the government official statistics are showing the true numbers on boomer death rates.

Take Social security as an example. For year's we've heard it would be a problem but according to the numbers below only $50 million from the general fund is peanuts! But I'm sure there are some Delusionicans here are who going to claim Social Security is a immoral on religious grounds.

If we want to kep this economy humming along we should double social security payouts. Social security dollars have to be right up there with bubble gum in terms of bang for the buck in getting the economy going again.

"How is Social Security financed?
Social Security is financed through a dedicated payroll tax. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $137,700 (in 2020), while the self-employed pay 12.4 percent.

In 2018, $885.1 billion (88.2 percent) of total Old-Age and Survivors Insurance and Disability Insurance income came from payroll taxes. The remainder was provided by interest earnings ($83.3 billion or 8.3 percent) and revenue from taxation of OASDI benefits ($35 billion or 3.4 percent), and less than $50 million in reimbursements from the General Fund of the Treasury."

The payroll tax rates are set by law, and for OASI and DI, apply to earnings up to a certain amount. This amount, called the earnings base, rises as average wages increase."

Except in this scenario...populations are decreasing so those business investments wont necessarily come. Ergo the second link that shows young peeps moving away from these affected areas. After all they gotta move.to where the jobs are, no?

So in effect, these large communities could become ghost towns with no liquidity for quite some time. Especially given the newer gens are about renting vs owning.

a reply to: Fallingdown

originally posted by: lakenheath24
Except in this scenario...populations are decreasing so those business investments wont necessarily come. Ergo the second link that shows young peeps moving away from these affected areas. After all they gotta move.to where the jobs are, no?

So in effect, these large communities could become ghost towns with no liquidity for quite some time. Especially given the newer gens are about renting vs owning.

a reply to: Fallingdown

The peeps will immigrate to China because that's where all the "good" jobs are located. And as immigrants the xenophobic Chinese will give the white foreigners derogatory labels like "gwai lo". Maybe there will be rise of Chinese right wing nationalism that will want to build a "wall" around China to keep the bad people out.

Interesting article on the potential housing situation over the next 2 decades. Boomers own 25% of for sale homes in the US and its predicted that some 21 million homes will be on the market over those coming years as boomers peg it....but mostly in areas that young peeps dont care about.

Which most are likely dated and in need of major remodeling.

Milennials could upgrade them and start flipping them.

A scenario that could benefit both sides.

Not in my neck of the woods, high-end homes have easily doubled and the low-end postage stamp used to be starter homes are now being sold as refurbished little bungalows at crazy prices. All the while 45 minutes' drive time you can find great value in great suburban neighborhoods like never before. I'm sure it's not this way everywhere, but it wasn't like this here 10-15 years ago either.

Interesting. Where are you? Is this inside city limits?


a reply to: putnam6

a reply to: lakenheath24

Y'all forget that the Baby Boomer generation is one of the last great generations. They believed in family values and traditions, had a spouse and kids, and were already 15 years into their career by the time they hit the age that a lot of Millennials finally leave home. They weren't forced to leave or move to another house every other year (outside of being in the military but those families eventually settled in one city and home). As the Baby Boomers get too old to take care of themselves, they will all sell their homes in the communities they've been in forever.

a reply to: lakenheath24

We were till recently about 15 minutes from downtown and an easy commute by car or rail. The downtown area has really exploded as well as the old neighborhoods within the city limits are seeing new development, for housing apartments and condos, but I do know its not like that everywhere else. Of course we have loads of commuters it's not rare to have people commute 2 hours one way to work either, and we have had an influx of new companies locate offices here after a little bit of having them leave for a few years.

All this worry about the housing market...
Why is it any different than the effect all those IRAs being cashed in around the same time span would have on stock prices?
Be wary young ones.. us boomers owe our existence to the big BOOM known as the atomic bomb and we've probably been one of the most destabilizing generations throughout our lifetime to be on the planet in a long time. You're asking too much from us if you think we will go out with a fizzle.

You gotta be Lucky with the economical climate too i geuss.

I got my mortgage at the age of 23 , a year before the housing market in the Netherlands crashed.

Almost 10 years ago.

I would not be able to get the same loan today as back then.

2 bedroom appartment downtown , it costs me only 460 EU in monthly mortgage costs.

Ofcourse it is no mansion , but for a single guy with a cat more then enough space.

This article is why Menials think they are smart but it really shows why they are not wise, maybe with age will come the wisdom they are missing. Like when your taste change. In 20 years, the young won't be young. Your tastes change. Instead of going out at 10, you want to be in bed by 10. If the writer didn't consider the change in demographics, it kind of shows cult like thinking. Then again, cult like thinking explains a lot in the current young demographic....

We might morph into European housing cycle. In Europe, a lot of housing is passed down to the next generation. It’s the banks and financial institutions dependent on us and if we saw housing as a true long term asset, we could help the millennials avoid a big ticket item in the future.

I didnt forget...lol

Having said that...bolmers had the post war boom in manufacturing thanks to Europe being devastated by the bombing, and China was not a player back then. Then automatikn started hitting and, well anyway....i get the new gen's gripes, it can look bleak. The early eighties sucked til the tech boom started.

a reply to: LSU2018

Ahh...kinds like hipsters have rebuilt downtown detroit....yet the burbs are getting bulldozed. Except some would call.that gentrification....others progress.

a reply to: putnam6

I bet the civil war gen thought you boomers were a bunch of spoiled brats who had it easy....they had a civil war, two world wars,a great depression.

See how that works.



a reply to: dawnstar