Ok Boomer. Now You are Gonna Ruin the Housing Market

Except, that pesky moving to other parts of the country thing...see Rust Belt for example.



a reply to: Ash614

a reply to: lakenheath24

Oh that wasn't directed at you. I see a lot of Generation Y & Z get angry with Baby Boomers, to the point that they say they're ready to see them all die off because everything bad that happens is their fault. That's who I was referring to.

a reply to: lakenheath24

The housing market where I live is insane.

The final frontier for somewhat affordable housing before you need to move 2+ hour commute away is getting out of hand. Homes that are worth half their actually price are going for two times their worth, and then o tip of that bidding wars.

A house I went to go look at went for 120k over asking!

It's mostly due to yes, boomers, wanting to cash in their "investment". Its a tough situation to be in for first time home owners. And it only drives up rent as well.

"OK, Boomer" is just shorthand for 'Would you like fries with that?"

Lol....i got it. But yeah...its a blame game. They all need to listen to Mike Rowe for a bit. Thinks he is gen x...and we aint so bad!


a reply to: LSU2018

Eta...we are hot on your heels...hoping to see you guys in the title gsme. Took an Ohio kid to get you all into gear. 😅🤣😂

originally posted by: lakenheath24
Lol....i got it. But yeah...its a blame game. They all need to listen to Mike Rowe for a bit. Thinks he is gen x...and we aint so bad!


a reply to: LSU2018

Eta...we are hot on your heels...hoping to see you guys in the title gsme. Took an Ohio kid to get you all into gear. 😅🤣😂

Gen X is where it's at! The new generations still can't make their own movies and keep doing remakes from the 80's lol...

Both teams will win out in my opinion, it's gonna be a fanfriggintastic title game between LSU and Ohio State. Burrow is unreal, a less than average game this weekend and he'll break the record for most passing yards and most passing TDs in a single season by an SEC QB, and his 79% completion percentage is unheard of, never been seen before. I'm gonna miss him next year. Y'all still get your southern transfer for at least another year, lol.

MTV, Hair bands and the resurgance of the muscle car.....just saying. Tawny Kitaen on the hood of a Jag? Mmmmhmmm.


Bit worried about Clemson. I dont think we will take over you guys, but I dont want to play them. Still...im just hoping Bama doesnt sneak back in. Would love to see our D agsinst your Offense.



a reply to: LSU2018

As I've mentioned elsewhere, in Los Angeles / San Fernando Valley, small burned out crack houses with 2-3 bedrooms, 2 baths will easily sell for $850.000.00. Million dollar "fixer-uppers" are common.

I've sometimes wondered what will happen when all the baby boomers die and leave all of these properties. Prior to my parents passing away, they would have sold me their house for $1, but I didn't want to live in Iowa. Because there would be very few decent paying jobs available for me. Also, the weather tends to suck in the winter. I can deal with summer tornadoes.

Anyway, it'll be interesting when all the building stops, but it doesn't look like it's even slowing down in Southern California. This is where people are still moving to. I just did it decades ago.

So, what to do about this, Boomer problem?

Which is why I dont think it will be a huge deal. Unless a lot have second mortgages. I know a lot of randparents have taken out skool loans for their grandkids.
I wish i had numbers.

a reply to: Blue Shift

Boom...here ya go. Lots of boomers in debt funding grandkids. So this could add to thd equation.


www.ft.com...


a reply to: lakenheath24

You tell us? It sint a Boomer problem as much as an inter-genrationsl prob... much as its always been.a reply to: Lysergic

originally posted by: lakenheath24
MTV, Hair bands and the resurgance of the muscle car.....just saying. Tawny Kitaen on the hood of a Jag? Mmmmhmmm.


Bit worried about Clemson. I dont think we will take over you guys, but I dont want to play them. Still...im just hoping Bama doesnt sneak back in. Would love to see our D agsinst your Offense.



a reply to: LSU2018

Clemson still hasn't been tested. We won't know about them until one of us play them. The way to beat Alabama is to stop their WRs from squirting past you after a 1 yard pass. I would love to see their yards after catch. No way Mac Jones does any good with the pressure OSU would put on him. He doesn't have any big game experience.

originally posted by: neo96

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.

I hate to rain on your parade there, but it's almost impossible to get money right now from banks. Especially for millennials, myself included (33).

With high debt to income ratio, the false promise of good paying jobs and everybody's need to keep up with the jones' my generation is pretty strapped. I personally started a business, it did ok for awhile but now I'm pretty much stuck in a saturated market where everybody wants something for free. I'm now forced to get some sh# job or scrape by with my current business. Personally, I'm scrapping the entire business and plan to re-tool into a different industry and hopefully find an ok job in the interim.

I personally do not see the market in the same manner as other people. I've spent all my money into a business for the last 7 years that failed, a risk I knew would happen, I'm basically starting over. The point is, Old money has too much sway on the current economic climate.

a reply to: lakenheath24

the existing 21 million dwellings are gonna need to be remodeled and the single family house re-zoned as multi-family property

with a resourceful, future looking remodeler, those 3000 sq ft Boomer houses can be reconfigured into 3 separate Tiny Houses but under a single roof or footprint...

thus keeping the mass transit infrastructure in place and UpGraded for a larger community of Millennials & other generational groups into potential, desirable, Hub Locals

Alas the older houses lived-in by Boomers were only designed with a 50-70 year horizon of occupancy as the standard building life before extreme renovation costs exceeded the ROI (return on investment)


Maybe we are going to witness the electronic house mortgage /Titles (MERs System) implode on a great number of Boomer Houses which the Fed Reserve bought up from the 2007-08-09 housing collapses


the future is too fluid or dynamic to see things clearly, at least to myself

originally posted by: Lysergic
So, what to do about this, Boomer problem?

Just wait. Time will resolve all issues regarding Baby Boomers.

Oooh, thats new. Do you have any data on those MER'S? That could be super interesting. Be interesting to know the numbers cuz as peeps get older medical bankruptcies are bound to explode.

And the thing is...this could cause a housing glut instead if a shortage. Who knows.


a reply to: St Udio

Fact...and gen x, gen y, millenial, etc etc.a reply to: Blue Shift

Yes...this ties in explicitly to student debt.
Not to mention a lot of grandparents have gone into debt for their kids, kids skooling.


a reply to: eXia7

Check this out....bolmers have the second highest student debt despite the youngest cats being late 50's. Lookin like grandpops gonna die with student debt. Fook...that a lot of dough left on the table.


www.experian.com...

originally posted by: lakenheath24
Fact...and gen x, gen y, millenial, etc etc.a reply to: Blue Shift

Yeah, that's demographics for you. People don't generally change, but they do die. I consider myself to be Gen-X, even though I was born at the peak of the Baby Boomer wave. However, if you weren't there to catch the curl early and get in the pipe, you just get pounded in the foam, dudes.

So yeah, early Boomers wrecked a lot. But you gotta give them credit for inventing rock and roll, the Internet, space, and computers. All while fighting multiple wars. Whether that's a good thing or bad depends on your perspective.