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Baby boomers are making it harder for millennials to buy homes

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131–140 of 145 posts

Re: Baby boomers are making it harder for millennials to buy homes

#131

Earlier quoted context omitted.

Please check your comment about BART schedules. BART guarantees a ride to your destination from any point in the system if you get into a station by midnight. The last train from Embarcadero station to Pittsburg leaves Embarcadero at 12:26 AM.

I don't fancy getting home at 2am.

That's nice, but you were commenting on workers who would potentially need BART to get home after being released from work at a late hour. We are able to do so.

Re: Baby boomers are making it harder for millennials to buy homes

#132
post #32

Earlier quoted context omitted.

I hear you and apologies for the rant. Down votes are entirely understandable as I don't care for radical sounding rants either. I'm not saying in in the US, nor concretely, but philosophically I think when a person is born they inherit the right to inhabit a piece of earth. You shouldn't arrive in the earth and not be able to sleep on piece of it without paying someone. I guess I feel that land in general belongs to…

> Leave wealth building for bitcoin and Apple stock and companies that make mascara. The flip side of this - people then complain that we have 25 different high-tech varieties of boner pills while the developing world is dealing with antibiotic-resistant infections and malaria. Despite the SV Founder Changing The World rhetoric, most people are in business to get paid. People go where the money is. If you declare tha…

With the exception of the Dutch, the land making business is already pretty stagnant. I'm not very worried about it getting worse.

Re: Baby boomers are making it harder for millennials to buy homes

#133

Earlier quoted context omitted.

I don't fancy getting home at 2am.

That's nice, but you were commenting on workers who would potentially need BART to get home after being released from work at a late hour. We are able to do so.

Oh, I based my times assuming that people didn't live at the BART & needed to catch a bus connection… but I guess driving is relatively pleasant once you get away from the city & thus you can use a car instead.

Re: Baby boomers are making it harder for millennials to buy homes

#134
post #60
post #49

Earlier quoted context omitted.

In order to increase the housing supply "significantly", you need to increase zoning limits in >10% of the relevant population-weighted land area. However balkanization makes it impossible to do this through a single political entity. The solution IMO is a "trigger" law that will increase zoning heights in a suburb when the nearby suburbs pass similar laws. This prevents any one town from becoming gentrified if they…

Portland is unique among similar cities in that large tracts of undeveloped land became available for housing construction in the last several years. That means thousands of units will be available in the near future, in addition to the large number recently added to the inventory in the metro area. I'm guessing that would well exceed the 10% zoning limit increase you mention. I haven't checked housing costs recently…

Portland is the cheapest city of its size on the West Coast excepting possibly Sacramento (which exports its richest people to Tahoe/Napa/SF). If you ask me the reason people there complain about costs is that the wages aren't high and it used to be even cheaper.

I had a friend a few years ago who -- unemployed -- drove across the country to Portland, took a job fixing inventory at a music store, and got a room within walking distance of the train. Try pulling that off in the Bay Area!

Re: Baby boomers are making it harder for millennials to buy homes

#135
post #75

Earlier quoted context omitted.

Except they are not. Anyone is free to purchase any property that someone else is willing to sell. If you don't own the property you live in then you may not always be able to live there. Its pretty simple. If you want guarantees own the things you use.

I don't know if you're aware of this, but your statements are coming off awfully privileged. From the idea that people need to "earn" things, a strangely unique American perspective that you "earn" anything at all (completely pretending that you didn't start off ahead in a lot of ways anyway). To the idea that "its pretty simple" [sic] and that the blindingly obvious solution is to just "own the things you use" - a l…

I'm sure anyone who doesn't join into the circle jerk sounds privileged to you.

Re: Baby boomers are making it harder for millennials to buy homes

#136

Earlier quoted context omitted.

In eastern europe, we have Paneláky " rel="nofollow">https://www.google.cz/search?q=sidli%C5%A1t%C4%9B&source=lnm... and the housing prices are low in the panel houses and much higher everywhere else (though no-where nere US levels). You can even buy an apartment in a panel house an hour and a halfs drive outside of prague for $5000USD https://www.sreality.cz/hledani/prodej/byty/ustecky-kraj,lib...

> panel house an hour and a halfs drive outside of prague for $5000USD https://www.sreality.cz/hledani/prodej/byty/ustecky-kraj,lib... . From the photos alone I can smell the odor of alcohol and feel the depression and suicide looming in the air.

Oh don't be silly. US is 48th on list of countries by suicide rate. Czech Republic is 83rd.

https://en.wikipedia.org/wiki/List_of_countries_by_suicide_r...

Re: Baby boomers are making it harder for millennials to buy homes

#137
post #75

Earlier quoted context omitted.

Except they are not. Anyone is free to purchase any property that someone else is willing to sell. If you don't own the property you live in then you may not always be able to live there. Its pretty simple. If you want guarantees own the things you use.

I don't know if you're aware of this, but your statements are coming off awfully privileged. From the idea that people need to "earn" things, a strangely unique American perspective that you "earn" anything at all (completely pretending that you didn't start off ahead in a lot of ways anyway). To the idea that "its pretty simple" [sic] and that the blindingly obvious solution is to just "own the things you use" - a l…

but the point is that it cant be any other way. property owners aren't going to do sell or rent below market price. if you're poor, you get shoved around, which has been more or less the same since the dawn of humanity.

the modern day of today doesn't mean that changes. not until there's unlimited frer resources.

Re: Baby boomers are making it harder for millennials to buy homes

#138

Earlier quoted context omitted.

> panel house an hour and a halfs drive outside of prague for $5000USD https://www.sreality.cz/hledani/prodej/byty/ustecky-kraj,lib... . From the photos alone I can smell the odor of alcohol and feel the depression and suicide looming in the air.

Oh don't be silly. US is 48th on list of countries by suicide rate. Czech Republic is 83rd. https://en.wikipedia.org/wiki/List_of_countries_by_suicide_r...

Czechia is an exception in this part of Europe, Poles/Lithuanians are more likely to have this "problem".

Re: Baby boomers are making it harder for millennials to buy homes

#139
post #72

Earlier quoted context omitted.

The income advantage is due to concentrated wealth and income inequality. What you see is a few industries and the people that run them receive the bulk of the excess capital. That results in a firehose of money pointed at a couple of cities where the golden industries leaders all live.

But the fact remains that the income advantage only remains an advantage so long as the costs remain low. The expense side of the equation can only rise so high before income becomes zero, or even a negative value. NYC and SV are able to thrive because housing is still cheap, but the market is quickly correcting that fact. At some point, if the trend continues indefinitely, one's income in these cities will leave the…

Trouble is you need a critical mass of social, technical, and cultural infrastructure. It's not like it doesn't happen. But unless a company with deep pockets is behind it, whatever one tries to plant there will die. Point is there are a lot of frictions. And big inequality is a big one.

Re: Baby boomers are making it harder for millennials to buy homes

#140
Well, everyone is competing with everyone else, so singling out these two groups seems like clickbait.

Still, the article does note that baby boomers are downsizing, whereas millennials are foregoing starter homes. So one could argue that baby boomers are outbidding millennials. But I don't see that point explicitly made.

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