Baby boomers are making it harder for millennials to buy homes
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Re: Baby boomers are making it harder for millennials to buy homes
#2The flip side of this is that as the baby boomers pass, there's going to be a glut of retirement home communities available - and with my generation probably never being able to retire, that's going to be an interesting market.
Re: Baby boomers are making it harder for millennials to buy homes
#3The flip side of this is that as the baby boomers pass, there's going to be a glut of retirement home communities available - and with my generation probably never being able to retire, that's going to be an interesting market.
I foresee either a huge market value adjustment (for a long long time) or prices buoyed through immigration.
Re: Baby boomers are making it harder for millennials to buy homes
#4"Many homeowners are holding off on listing their homes for sale because they want to avoid entering a competitive buyer's market, further tightening inventory."
I don't understand this. What's the advantage of holding off when you have multiple people willing to bid on your house, including above asking?
Re: Baby boomers are making it harder for millennials to buy homes
#5"Many homeowners are holding off on listing their homes for sale because they want to avoid entering a competitive buyer's market, further tightening inventory." I don't understand this. What's the advantage of holding off when you have multiple people willing to bid on your house, including above asking?
Because you're subsequently buying into the same inflated market.
Re: Baby boomers are making it harder for millennials to buy homes
#6The flip side of this is that as the baby boomers pass, there's going to be a glut of retirement home communities available - and with my generation probably never being able to retire, that's going to be an interesting market.
Govt subsidies?
Re: Baby boomers are making it harder for millennials to buy homes
#7"Many homeowners are holding off on listing their homes for sale because they want to avoid entering a competitive buyer's market, further tightening inventory." I don't understand this. What's the advantage of holding off when you have multiple people willing to bid on your house, including above asking?
Because you're subsequently buying into the same inflated market.
It's also much easier to stay where you are than to move. Real estate is a very illiquid asset and it is supposed to be. If you perceive your house being worth more 12 months down the road it makes sense to stay until that point.
This is where you get people taking out second mortgages. It be a great idea today but horrible 5-10 years out. Once valuations correct many people will be under water and looking at defaults.
Real estate is not where you want overvaluations and (huge) inefficiencies.
Re: Baby boomers are making it harder for millennials to buy homes
#8Blaming someone else. Typical millennial behavior.
Re: Baby boomers are making it harder for millennials to buy homes
#9The flip side of this is that as the baby boomers pass, there's going to be a glut of retirement home communities available - and with my generation probably never being able to retire, that's going to be an interesting market.
The nice thing about retirement homes is they convert into decent apartments.
Re: Baby boomers are making it harder for millennials to buy homes
#10"Many homeowners are holding off on listing their homes for sale because they want to avoid entering a competitive buyer's market, further tightening inventory." I don't understand this. What's the advantage of holding off when you have multiple people willing to bid on your house, including above asking?
Easy to say when the main demographic here has no qualms with picking up and moving.