What housing market? Oh yeah… you mean the one that’s available if you have a near perfect credit score and at least $50k for no other purpose? I inquired about 300k home, recently: 800+ credit score and 75k down-payment (25%).
Murashi on
And you don’t get your boomer parents’ house when they die, because Tom Selleck told them to get a reverse mortgage. 🫠
Antique-Echidna-1600 on
Born in 87 and have owned since 2018.
MrBlahg on
Hey now… I’m Gen X and about to buy my first house. Thanks for dying mom and dad!
Seriously, it sucks, but it’s the only way it was going to happen.
bad_apiarist on
Houses aren’t much more expensive than they were 50 years ago. What has changed is our demands for the features of a house we are willing to buy. Houses have exploded in size while expected occupancy has reduced. In the 50’s, an average house was 983 square feet and a household size of 3.37 people. In the 2010s, the average size of a new home was 2,392 square feet and a household size of 2.59 people.
Quietabandon on
When the boomers die or move to a nursing home.
There is a lot of housing stock that will turn over as unhealthy boomers, many without retirements move out of their homes either to move to nursing homes or downsize or tap into their equity to fund retirement.
10 Comments
What housing market? Oh yeah… you mean the one that’s available if you have a near perfect credit score and at least $50k for no other purpose? I inquired about 300k home, recently: 800+ credit score and 75k down-payment (25%).
And you don’t get your boomer parents’ house when they die, because Tom Selleck told them to get a reverse mortgage. 🫠
Born in 87 and have owned since 2018.
Hey now… I’m Gen X and about to buy my first house. Thanks for dying mom and dad!
Seriously, it sucks, but it’s the only way it was going to happen.
Houses aren’t much more expensive than they were 50 years ago. What has changed is our demands for the features of a house we are willing to buy. Houses have exploded in size while expected occupancy has reduced. In the 50’s, an average house was 983 square feet and a household size of 3.37 people. In the 2010s, the average size of a new home was 2,392 square feet and a household size of 2.59 people.
When the boomers die or move to a nursing home.
There is a lot of housing stock that will turn over as unhealthy boomers, many without retirements move out of their homes either to move to nursing homes or downsize or tap into their equity to fund retirement.
[“You will own nothing, and be happy.”](https://www.amazon.com/You-Will-Own-Nothing-Financial/dp/0063304937)
Total crock of shit. Tax the billionaires.
Boomers: “But yet WE get TWO!”
Boomers vote.
As a millennial, I can’t relate. I’ve owned a house for 13 years now…