re: NPR: Your home is too big. How can we get you to downsize?

Downsizing isn’t feasible in the current RE environment.

It costs as much or more than your current property to get a smaller one if you either own the current one outright or have a low interest mortgage.



If the RE market were stable enough that prices quit ballooning and interest rates weren’t through the roof, people could actually downsize if they want to.

Makes sense it me. Jack my rate up and increase my debt so I can move into a tiny shithole to please a leftist nutcase.

Where do I sign?

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, I want to sell at the next hot housing market

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You're in one now, so put up that for sale sign this afternoon

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Downsizing isn’t feasible in the current RE environment.

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My wife and I want to downsize to something a little smaller and newer in the next few years with a smaller yard, but it makes zero sense to do it right now.

We have a decent sized older home that we bought over a decade ago at much lower prices and refinanced during Covid. Our mortgage is cheaper than an apartment. We could put 50%+ down on something else, but even then our mortgage would be higher than it is now.

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Here's a thought.... nothing?

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Exactly. Let the free market figure it out. We don't need a new government edict every time some pinhead Karen journalist finds an issue that they could write a story about. I think some people just get off on having an idea, then getting the heavy hand of government to implement it for them.

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You're in one now, so put up that for sale sign this afternoon

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Yeah trust me I know. A house around the corner just sold in 2 days about 30K over asking price. Anyways, wife said not yet, and I did not use my veto power.

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They'll property tax you out of it.

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You do know that boomers get locked in at one amount at 65.

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Many baby boomers own homes that are too big

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Too big according to whom?

You can see the brain rot at work. No one who believes in personal freedom and individual property rights would ever utter such a sentence.They will decide what's best for you. You will eat bugs and own nothing. You will love it.....or else.

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Many baby boomers own homes that are too big. Can they be enticed to sell them?

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I'm a boomer and will be glad to sell and downsize.

My price is $1B

For that I'll downsize from my current home to a compound comprised of multiple buildings, each smaller than my current home, on a sizeable acreage

I haven't read the whole article but I am in this boat with our home. Late into the mortgage at very low rate, but the house is too big for the two of us once our last kid is out this year.

It doesn't make sense for us to downsize into a smaller home with prices in the 400-500,000 range at 8%, and relocate to the state we want to end up in.

It's an interesting conundrum we now find ourselves because houses are not getting cheaper. Have no idea if or even when rates might drop again? Once houses are slow to move incentives and pricing drops happen, and refinance later, but will they drop later?