▲ 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
[–] Bonskreeskreeskree@lemmy.world 20 points 2 years ago (1 child) And Wallstreet is buying every home they can get their hands on. You'll rent and be happy about it! permalink fedilink source parent hideshow 2 child comments replies: [–] Zipitydew@sh.itjust.works 8 points 2 years ago (1 child) Yes this. I also know of multiple boomers who have done the reverse mortgage garbage to maintain their lifestyle. Kids didn't even get the house when they died. The bank got it back. permalink fedilink source parent hideshow 2 child comments replies: [–] andrewta@lemmy.world 3 points 2 years ago (1 child) Never understood why anyone would agree to a reverse mortgage. Unless they really do not want their kids to have the house for some reason. permalink fedilink source parent hideshow 2 child comments replies: [–] Riven@lemmy.dbzer0.com 4 points 2 years ago I can see it working if you have nobody in your life. For example, I have no kids and zero interest in my POS extended family that I've cut off amyways. If I could afford a house now I would legit consider a reverse mortgage when I'm older for extra income. permalink fedilink source parent
[–] Zipitydew@sh.itjust.works 8 points 2 years ago (1 child) Yes this. I also know of multiple boomers who have done the reverse mortgage garbage to maintain their lifestyle. Kids didn't even get the house when they died. The bank got it back. permalink fedilink source parent hideshow 2 child comments replies: [–] andrewta@lemmy.world 3 points 2 years ago (1 child) Never understood why anyone would agree to a reverse mortgage. Unless they really do not want their kids to have the house for some reason. permalink fedilink source parent hideshow 2 child comments replies: [–] Riven@lemmy.dbzer0.com 4 points 2 years ago I can see it working if you have nobody in your life. For example, I have no kids and zero interest in my POS extended family that I've cut off amyways. If I could afford a house now I would legit consider a reverse mortgage when I'm older for extra income. permalink fedilink source parent
[–] andrewta@lemmy.world 3 points 2 years ago (1 child) Never understood why anyone would agree to a reverse mortgage. Unless they really do not want their kids to have the house for some reason. permalink fedilink source parent hideshow 2 child comments replies: [–] Riven@lemmy.dbzer0.com 4 points 2 years ago I can see it working if you have nobody in your life. For example, I have no kids and zero interest in my POS extended family that I've cut off amyways. If I could afford a house now I would legit consider a reverse mortgage when I'm older for extra income. permalink fedilink source parent
[–] Riven@lemmy.dbzer0.com 4 points 2 years ago I can see it working if you have nobody in your life. For example, I have no kids and zero interest in my POS extended family that I've cut off amyways. If I could afford a house now I would legit consider a reverse mortgage when I'm older for extra income. permalink fedilink source parent