▲ 99 ▼ Millennials own less than half the real estate wealth of boomers—can they catch up? (creditnews.com) submitted 2 years ago by RealWarrenBuffett@lemm.ee to c/news@lemmy.world 40 comments fedilink hide all child comments
[–] givesomefucks@lemmy.world 31 points 2 years ago (3 children) Well, eventually they'll all be dead... It's insane the largest group of home buyers is boomers already, but obviously they can't keep it up for more than a decade or two max. permalink fedilink source hideshow 6 child comments replies: [–] Szymon@lemmy.ca 28 points 2 years ago* Just enough time to ruin the retirements of millenials and screw up their children's generation too permalink fedilink source parent [–] Ghostalmedia@lemmy.world 11 points 2 years ago (2 children) Trying to get into a small 2 bedroom was so hard in my area. If the house was in good shape and didn’t have stairs, downsizing boomers were throwing giant all cash offers at the home with 30% over asking. permalink fedilink source parent hideshow 4 child comments replies: [–] givesomefucks@lemmy.world 3 points 2 years ago (1 child) We need to normalize retirement communities. The last thing I want to fuck with in old age is maintaining a house. We need "condo subdivisions" close to supermarkets and other amenities. I have no idea why a 70 year old wants to deal with home ownership permalink fedilink source parent hideshow 2 child comments replies: [–] Duranie@literature.cafe 4 points 2 years ago I work in hospice and regularly visit independent and assisted living facilities. Some are set up like duplexes, some are condo/apartment style. The costs of these facilities can be insane. One of the cheaper independent facilities I was seeing a patient in was charging just over $6000 month for a one room studio. Yes, utilities were included with basic basic cable channels. permalink fedilink source parent [–] Copernican@lemmy.world 2 points 2 years ago (2 children) Isn't that supposed to help to some degree? I thought part of the housing trouble was boomers staying in large homes too long meant less homes for younger families with kids to use. permalink fedilink source parent hideshow 4 child comments replies: [–] Ghostalmedia@lemmy.world 6 points 2 years ago It will make it easier to get into homes with 3 or more bedrooms, but it makes it harder to get into smaller 1 and 2 bedroom “starter” homes. In my area I’m seeing that that the barrier between renting and owning a small home is bigger than the barrier between owning a small home and upgrading to a larger home. permalink fedilink source parent [–] Duranie@literature.cafe 1 point 2 years ago I think part of the problem is that when those houses are opening up, investment groups are buying them for rentals. permalink fedilink source parent [–] tygerprints@kbin.social -1 points 2 years ago Well so will you and everyone else. In a few decades, you and me and everyone we know will have turned to worm food underground. Nobody will say our names or remember what we did, and nobody will remember the financial struggles, or who donald trump was, or why Israel went on a rampage against Palestinians. (although that will probably still be going on forever). permalink fedilink source parent
[–] Szymon@lemmy.ca 28 points 2 years ago* Just enough time to ruin the retirements of millenials and screw up their children's generation too permalink fedilink source parent
[–] Ghostalmedia@lemmy.world 11 points 2 years ago (2 children) Trying to get into a small 2 bedroom was so hard in my area. If the house was in good shape and didn’t have stairs, downsizing boomers were throwing giant all cash offers at the home with 30% over asking. permalink fedilink source parent hideshow 4 child comments replies: [–] givesomefucks@lemmy.world 3 points 2 years ago (1 child) We need to normalize retirement communities. The last thing I want to fuck with in old age is maintaining a house. We need "condo subdivisions" close to supermarkets and other amenities. I have no idea why a 70 year old wants to deal with home ownership permalink fedilink source parent hideshow 2 child comments replies: [–] Duranie@literature.cafe 4 points 2 years ago I work in hospice and regularly visit independent and assisted living facilities. Some are set up like duplexes, some are condo/apartment style. The costs of these facilities can be insane. One of the cheaper independent facilities I was seeing a patient in was charging just over $6000 month for a one room studio. Yes, utilities were included with basic basic cable channels. permalink fedilink source parent [–] Copernican@lemmy.world 2 points 2 years ago (2 children) Isn't that supposed to help to some degree? I thought part of the housing trouble was boomers staying in large homes too long meant less homes for younger families with kids to use. permalink fedilink source parent hideshow 4 child comments replies: [–] Ghostalmedia@lemmy.world 6 points 2 years ago It will make it easier to get into homes with 3 or more bedrooms, but it makes it harder to get into smaller 1 and 2 bedroom “starter” homes. In my area I’m seeing that that the barrier between renting and owning a small home is bigger than the barrier between owning a small home and upgrading to a larger home. permalink fedilink source parent [–] Duranie@literature.cafe 1 point 2 years ago I think part of the problem is that when those houses are opening up, investment groups are buying them for rentals. permalink fedilink source parent
[–] givesomefucks@lemmy.world 3 points 2 years ago (1 child) We need to normalize retirement communities. The last thing I want to fuck with in old age is maintaining a house. We need "condo subdivisions" close to supermarkets and other amenities. I have no idea why a 70 year old wants to deal with home ownership permalink fedilink source parent hideshow 2 child comments replies: [–] Duranie@literature.cafe 4 points 2 years ago I work in hospice and regularly visit independent and assisted living facilities. Some are set up like duplexes, some are condo/apartment style. The costs of these facilities can be insane. One of the cheaper independent facilities I was seeing a patient in was charging just over $6000 month for a one room studio. Yes, utilities were included with basic basic cable channels. permalink fedilink source parent
[–] Duranie@literature.cafe 4 points 2 years ago I work in hospice and regularly visit independent and assisted living facilities. Some are set up like duplexes, some are condo/apartment style. The costs of these facilities can be insane. One of the cheaper independent facilities I was seeing a patient in was charging just over $6000 month for a one room studio. Yes, utilities were included with basic basic cable channels. permalink fedilink source parent
[–] Copernican@lemmy.world 2 points 2 years ago (2 children) Isn't that supposed to help to some degree? I thought part of the housing trouble was boomers staying in large homes too long meant less homes for younger families with kids to use. permalink fedilink source parent hideshow 4 child comments replies: [–] Ghostalmedia@lemmy.world 6 points 2 years ago It will make it easier to get into homes with 3 or more bedrooms, but it makes it harder to get into smaller 1 and 2 bedroom “starter” homes. In my area I’m seeing that that the barrier between renting and owning a small home is bigger than the barrier between owning a small home and upgrading to a larger home. permalink fedilink source parent [–] Duranie@literature.cafe 1 point 2 years ago I think part of the problem is that when those houses are opening up, investment groups are buying them for rentals. permalink fedilink source parent
[–] Ghostalmedia@lemmy.world 6 points 2 years ago It will make it easier to get into homes with 3 or more bedrooms, but it makes it harder to get into smaller 1 and 2 bedroom “starter” homes. In my area I’m seeing that that the barrier between renting and owning a small home is bigger than the barrier between owning a small home and upgrading to a larger home. permalink fedilink source parent
[–] Duranie@literature.cafe 1 point 2 years ago I think part of the problem is that when those houses are opening up, investment groups are buying them for rentals. permalink fedilink source parent
[–] tygerprints@kbin.social -1 points 2 years ago Well so will you and everyone else. In a few decades, you and me and everyone we know will have turned to worm food underground. Nobody will say our names or remember what we did, and nobody will remember the financial struggles, or who donald trump was, or why Israel went on a rampage against Palestinians. (although that will probably still be going on forever). permalink fedilink source parent