GenX not even mentioned. 🏆
this post was submitted on 05 Feb 2024
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Hey man, I'm Gen X and I have a house.
It's in a shitty town I hate living in and if I sold it, I couldn't afford to buy a house anywhere else, but I have a house!
I'm GenX and I just bought my first house. Just shows you what working hard for 29 years can get you! Just got to work for another 29 and I can start thinking about retirement and then work another 29 cause millennials killed retiring. Damn millennials.
I keep telling my wife that every time she talks about moving. My house has almost doubled in price. There are no houses within 60 miles for the price we paid that aren't ghetto or half the size.
Gen X as well here - I've come to the conclusion that while I'm not expecting to be able to afford to retire at a reasonable age and have no life insurance beyond what my employer offers, the one thing I'm hoping to be able to leave my children is my house. For so many years raising them we were broke and housing was definitely questionable at times, but now I'm about 6.5 years into a 30 year mortgage. If it can be maintained, at least they won't have to worry (as much) about losing the roof over their heads. And if need be they'll be able to sell it when I'm gone, and hopefully it'll still be worth something.
But of course. Did you think you were only going to be ignored as a kid?
/golfclap
Amazing.
All we were good for was being silent consumers and producers.
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.
I think the implied premise of this article that the young will "catch up" with retirees is quite flawed. Not saying there aren't issues here but anyone in their 20s and 30s will not be as well off as most are in their 60s and 70s.
How could they not? Do boomers not die anymore?
sure, just in time for their great-grandchildren to enter their 20s
Just waiting for the boomers to die out and the market collapses to follow
Maybe my grandchildren will have financial stability