344
submitted 7 months ago by MicroWave@lemmy.world to c/news@lemmy.world

Buying a family-sized home with three or more bedrooms used to be manageable for young people with children. But with home prices climbing faster than wages, mortgage rates still close to 23-year highs and a shortage of homes nationwide, many Millennials with kids can’t afford it. And Gen Z adults with kids? Even harder.

Meanwhile, Baby Boomers are staying in their larger homes for longer, preferring to age in place and stay active in a neighborhood that’s familiar to them. And even if they sold, where would they go? There is a shortage of smaller homes in those neighborhoods.

As a result, empty-nest Baby Boomers own 28% of large homes — and Milliennials with kids own just 14%, according to a Redfin analysis released Tuesday. Gen Z families own just 0.3% of homes with three bedrooms or more.

you are viewing a single comment's thread
view the rest of the comments
[-] karashta@kbin.social 36 points 7 months ago

"Shortage of homes" created by a parasitic class of people and corporations who gobble up all the available homes

[-] cosmic_slate@dmv.social 14 points 7 months ago* (last edited 7 months ago)

Baby boomers aren't some evil monolith hiding in the closet waiting to steal your bag of Oreos.

Where do you propose they move to? Even if we wanted them to vacate homes, there's an assisted living shortage (heads up, article is kind ehhhhhhhh overall) so we can't just shove them somewhere.

[-] Zorque@kbin.social 17 points 7 months ago

Baby boomers aren't, but capitalists are.

They're the ones who gobble up all available real estate to manipulate everyone else with for their own benefit.

I assume that was Karashta's intent, not Baby boomers as you deflected to.

[-] cyborganism@lemmy.ca 1 points 7 months ago

The plan was that they sell their home and downsize into an easier to maintain condo.

[-] cosmic_slate@dmv.social 7 points 7 months ago

Sure, if this hyper-abundance of condos exists. Unfortunately it doesn't.

[-] cyborganism@lemmy.ca 1 points 7 months ago

It existed 15 years ago, when millennials were starting to move out of their parents' home.

[-] cosmic_slate@dmv.social 3 points 7 months ago

Sure, but that's 15 years ago and homebuilders drastically slowed down since then. Now the Boomers can't sell their house and move somewhere cheaper screwing up a source of money for their retirement.

We're all fucked in this mess, it doesn't matter which generation you're in.

[-] cyborganism@lemmy.ca 0 points 7 months ago

What everyone is saying is that boomers were greedy. They held on to everything. Jobs, homes, they voted away our social safety nets because they wanted to keep their tax money and voted for conservatives and neo liberals.

Now the younger generation had a late start in life because of this. They got an education but couldn't find jobs. They wanted to get a house to raise a family but they had to forfeit that whole idea because of the little savings they could make. And because raising a child in a one bedroom 500sqft apartment, or condo unit at best, isn't ideal.

[-] cosmic_slate@dmv.social 1 points 7 months ago

You’re directing the blame at the working class when the political system created these problems.

Who did you vote for in 2008? The neoliberal or the neocon?

2012? Neoliberal or neocon?

2020? The neoliberal or the alt-right lunatic?

2024? The neoliberal or the alt-right lunatic?

As a millennial I have a pretty bad track record by voting for all these neolibs

[-] cyborganism@lemmy.ca 1 points 7 months ago

I'm Canadian btw. I voted for the NDP at the federal level and for b Quebec Solidaire at the provincial level.

[-] betterdeadthanreddit@lemmy.world -2 points 7 months ago

Bunk beds in assisted living, pack them in tight so they briefly get to experience a taste of the consequences of their generation's gluttony before shuffling off this mortal coil. The rich won't be affected, of course, so significant opposition isn't likely. Through their votes and actions, they made their bed so now they get to climb up and lie in it.

[-] FMT99@lemmy.world 3 points 7 months ago

Yeah? And if a person from the third world whose island is half under water because of your 'luxurious' lifestyle comes to you for some of that sweet justice? The average American emits 15 times the CO2 compared to someone in Tuvalu. Would you like to be put in the bed you made?

Oh you're not the one that made the system the way it is? Well neither did the majority of "boomers".

[-] cosmic_slate@dmv.social -1 points 7 months ago

Whatever ailment you’re going through life right now, I hope you find a way to get through it.

This take is not from a healthy mind.

this post was submitted on 17 Jan 2024
344 points (80.8% liked)

News

22838 readers
3605 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS