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The baby boomers forgot about their kids: Do we have any housing bulls...


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2014 Mar 19, 6:27am   2,670 views  12 comments

by jojo   ➕follow (2)   💰tip   ignore  

http://www.doctorhousingbubble.com/baby-boomer-home-ownership-rates-young-buyers-first-time-buyers/

Tuesdays. What about the kids? Many boomers in high priced California cities find themselves house rich but cash poor. The notion that somehow your home valued at $700,000 or $1 million is throwing off cash is counter to what most investors understand. You have taxes, insurance, and your regular upkeep on a property. And how many boomers sniffed the HGTV fumes and upgraded their homes with granite countertops, stainless steel appliances, and polished off hardwood floors? Home Depot isnt successful because people frugally maintain their homes.

#housing

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1   Tenpoundbass   2014 Mar 19, 8:55am  

Of course the younger population is in decline what do you expect Grandpa to do. Live in a Tiny house, drink Starbucks and tweet comments on your podcast?

2   zzyzzx   2014 Mar 19, 11:33am  

Call it Crazy says

We're letting them live rent-free in our basements at age 28

They are staying much later than that!

3   zzyzzx   2014 Mar 19, 12:01pm  

jojo says

Nah! They're all gonna move in with you.

What makes you think that they ever left?

4   New Renter   2014 Mar 19, 1:56pm  

Call it Crazy says

jojo says

No argument here. But when it comes time to cash out and sell the homestead...

Then what??

Move to Chile

5   New Renter   2014 Mar 19, 1:58pm  

jojo says

New Renter says

Move to Chile

Is that your plan?

You're thinking of another duck.

6   futuresmc   2014 Mar 19, 11:16pm  

zzyzzx says

jojo says

Nah! They're all gonna move in with you.

What makes you think that they ever left?

They won't be leaving but thankfully the boomers get along great with the millennials. They'll let their kids live with them until they can't work any longer and their kids will help care for them in their old age. It works out quite well as it permits them to transfer the house into their kids hands before they get seriously old. That way, should they develop a medical condition that will require more care than their kids can provide, they can go into the nursing home on medicaid and the house will have long been the property of their child that never left the nest, making it untouchable once they pass away.

7   Indiana Jones   2014 Mar 20, 1:54am  

From justaguy in the comments section of thread article:

"The older generation created the advantages. The Baby Boomers and Me Generation (think Yuppies) are in power at all levels of gov’t and have been for years. They can’t blame their parents anymore. Clinton (boomer), Bush #2 (boomer), Obama (Me Generation) and their cohorts have held the reigns since the early 90′s and have made deal after deal to short me (Gen X, born in Feb. 1970) and everyone else at every turn. Newt Gingrich (boomer), Hillary (boomer)….. all of the longterm media hacks and political pundits are Boomer or Me Generation. They have all, regardless of party, had one agenda: spend and don’t pay.

And now another entire generation of idiots has been raised buying into ‘diversity regardless of ability’, ‘perpetual dependency on gov’t and family’ and whatever other cause of the week they are told to support by the Huffington Post or Jon Stewart….. other than the 2 wars their parents got us into of course….. some other kid can fight those.

I’ve owned 3 homes since age 29. They are a succubus, but I do all of the work on them myself, like my grandparents did. My parent’s couldn’t swing a hammer but by God they ‘needed’ a new kitchen every 10 years and that convertible as a 3rd car because “I deserve it!” Go on Google Books and look at old issues of Popular Mechanics from the 40′s-60′s and you’ll see the spirit of real do-it-yourselfers. Of course now you can’t legally do stuff yourself because the nanny’s of the Boomer Generation have made it illegal. As the Doc said, they ARE the Man now, but in reality they are still children.,

8   Indiana Jones   2014 Mar 20, 1:57am  

And more from justaguy:

"In my view the Boomers=wanna be hippies, Me Gen=cocaine and disco. Both have done everything they can to steal from the next generations via tax policies, regulations, profit over all else labor/business practices, foreign policy based on desire not threat…… and as I said to Mike the cab driver guy on the last post: the chickens are coming home to roost. Every single person my age (mid-40′s) down to the mid-30′s I know is already telling mom and pop ‘tough shit’. Sell the house, the toys, move to Florida because I’m not spending my entire life making up for your lousy planning. You took, you gamed the system to always favor you and now you want more…… but you never saved one red cent…. and that is somehow everyone else’s fault. Um, nope."

I couldn't agree more.

9   Dan8267   2014 Mar 20, 2:39am  

sbh says

https://www.youtube.com/watch?v=dsx2vdn7gpY

Hudson is one of the greatest characters in all of movie history.

10   Dan8267   2014 Mar 20, 2:40am  

sbh says

They should just kill themselves because we Boomers are going to continue to extend the average life span.

No, the Boomers still need them for organ harvesting.

11   humanity   2014 Mar 20, 9:25am  

There's nothing more idiotic around here than all the generational generalizations.

That's just more divide and conquer bullshit that so many idiots are happy to buy in to. I'm not going to generalize though, that your entire generation is stupid, just because you are.

Let's not make it about the plutocrats and the corporations (i.e. the ones who really run the show), let's make it about the boomers versus the younger generations.

Yes, most of those in power are boomers. So ? That doesn't mean that it makes sense to turn it round and blame all boomers for those particular people in that age group.

Wtf ? Can't you see how stupid that is ?

Those in power will always be in the 45 - 70 age group. This is nothing new.
Hopefully when your generation gets power it will be different. But probably not. And guess what, it won't be your generation that gets power, it will be a select few that really have influence. Let's hope that the degree to which money controls things has decreased by then. Otherwise I would imagine it will be even worse.

I'm not so sure that this trend wasn't set in motion before the current boomers were running things.

What, are you going to somehow infer that say 63% of boomers are selfish idiots where as the millennials are only 54% selfish idiots ? I don't know how you could get this just from observing your parents.

Maybe you think all boomers are just like your parents (or the parents of the guy you quote).

It's so stupid.

12   Tenpoundbass   2014 Mar 20, 9:35am  

Man I only wish my Mom had a huge house I could tell her to sell.

I see some folks in this thread that age will not be kind to.

You guys don't respect old people as a whole, not just individuals, but old people. You'll hate your self for getting old mark my word, every one of you future old miserable bastards.

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