No it's not. Hedge funds and banks and corporations are buying the starter homes. The homes boomers are in are not the starter homes.
This entire line of thinking is a red herring to distract from hedge funds destroying our housing economy.
My 90 year old grandmother refuses to go to a nursing home (and honestly I can’t blame her) and actually just blew a ton of money getting her home remodeled. She has no plans to leave until she passes away, at which point the house will go to my father who has plans to sell it.
Meanwhile, my wife and I barely make the median income amount and, at 36, we’re never going to be able to afford a home.
And your dad will spend that money like it will never end, leaving you with nothing.
Mhm. He and my mother plan on moving to Alaska with my uncle.
Amazing. They got their shot and are still hoarding it. So sad.
If my parents invested a FRACTION of the money they have just thrown out into the world in their children, our lives would be so much better. They really have always just done whatever made them happy, hey, we're adults, right, they aren't responsible for us anymore or something.
I bought my first house in 2010, during the last dip in the housing market. Sold every asset I could for the down payment and end up with a mortgage payment I could afford. The value of the home has since increased 3x from when I bought it; I couldn't afford to buy the place today, let alone move someplace else. My major source of frustration has been property taxes, which now cost 1.5x more than my mortgage payment. I'm not entirely certain I'll be able to STAY in this place if they keep going up 20%/year like they have been.
I feel like most of the thumbnails I see for news articles are AI generated now.
They trying to distract us. I aint looking at the single home owning boomers, its landlords and corporate real estate companies hoarding homes.
Baby Boomers, Millenials, amd Gen Z account for.. 42% of homes.
Classic Gen X erasure aside... I have doubt Gen X owns the remaining 58% today. The article does mention 18% of gen X owned 10 years ago. And I am doubtful the Silent Generation is still clinging to their numbers.
And so under the most charitable interpretation: that is still a 20% gap of ownership by what I can only assume is a business enterprise.
~3000 baby boomers die every day.
Some of them will part with their homes.
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