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Move over millennials—a surprising new demographic is taking over the rental market

By jvolstad following x   2017 Nov 6, 12:55pm 619 views   4 comments   watch   sfw   quote     share    


http://blog.sfgate.com/ontheblock/2017/11/06/move-over-millennials-a-surprising-new-demographic-is-taking-over-the-rental-market/
I am a boomer and have no desire to buy a house unless it is an exceptional value. The main reason for renting is that I don't want my estate to have to deal Real Estate after I am gone. I have around 80% of my estate going to charities that I support. The rest going to my brothers.

Realtor's think it is a great time to buy? Screw em!!!

#housing
1   anonymous   ignore (null)   2017 Nov 6, 2:08pm   ↑ like (0)   ↓ dislike (0)   quote        

If you are over 50 and likely to pay (a 30 year note or rent) until you die, I agree that cash flow should be the chief concern.
2   lostand confused   ignore (0)   2017 Nov 6, 5:29pm   ↑ like (0)   ↓ dislike (0)   quote        

I know some over 55 crowd who moved into those retirement communities, so their kids could not move in with them.
3   Quigley   ignore (0)   2017 Nov 6, 6:00pm   ↑ like (0)   ↓ dislike (0)   quote        

A guy at my work turned 55 and bought a condo at the retirement village Leisure World, which make sense as it’s generally much cheaper prices combined with close to work and convenient access to facilities. This is a hardworking blue collar guy who finds that to be a reasonable choice.

I’ve also seen a lot of townhomes and condos being bought by downsizing boomers. Tapping a large equity balance on a bigger house to buy a smaller maintenance free condo or townhome with an corresponding low monthly nut makes a lot of sense.
4   Sniper   ignore (11)   2017 Nov 6, 6:38pm   ↑ like (1)   ↓ dislike (0)   quote        

Quigley says
I’ve also seen a lot of townhomes and condos being bought by downsizing boomers. Tapping a large equity balance on a bigger house to buy a smaller maintenance free condo or townhome with an corresponding low monthly nut makes a lot of sense.


This is the new retirement house for the boomers. They are tapping what little equity they have left and buying one of these.



They'll spend their retirement years traveling from one Walmart parking lot to another.




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