re: There are more homebuyers over 70 than under 35

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If you want to start on the home ownership path, lower your standard to be okay with the standard of previous generations and get to moving up. Then you will be the one in a good position 20-40 years from now.

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This! Also, need to eat rice and beans and quit any unnecessary spending. I see young people doing things all the time that I still can’t do in my early 50s. I bring my lunch into work just about everyday and most of my younger co-workers eat out. They also mostly drive newer and nicer cars than I have.

Hsven't read 6 pages so SIAP-

Radio guy on the road a few minutes ago in ATL said a good portion of that are boomers buying houses on behalf of their millennial kids who can't come up with the down payment or have credit/student loan issues.

Yeah oh no is right.

Old fricks are ruining everything.

I know it sucks, but you have to go now. It’s over.

Gen Z less likely to get married and have kids, plant roots.

You forgot their Netflix, Starbucks, and ubereats

You are a terrible written communicator.

Is that intentional so that you can continuously claim readers misinterpret your posts?

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It will inevitably swing back the other way. I mean eventually if people aren't buying houses, there will be a point where there is a huge boom in available hosues as people die. Now, does that fix the problem in any quick fashion? Absolutely not. I've already started to see homes here having some pretty big price decreases shortly after going on the market.

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So Blackrock can swoop in and bid 20% over asking price to gather up an even bigger piece of the market and continue controlling rent prices? What really needs to happen is hedge firms and global businesses be banned from buying single family homes. Get corporations out of the landlording business when it comes to single family homes. If they want to build apartment buildings or condos then whatever. But they should not be hoarding single family homes by overbidding thus artificially driving the market to increase which further keeps normal people out of home ownership.

And Boomers: yall are fricking retarded sitting there with your head in your arse refusing to acknowledge it’s much, much harder for young people to buy homes or property than it was for you. The average home was 2x your yearly salary coming up. For young people today it’s anywhere from 6-10x the average yearly salary, or even more in many places. And their rents are so sky high that they can’t even begin to save for a downpayment. Yes, they waste too much money when it comes to discretionary spending but it truly doesn’t matter. Many will never be able to save enough money for a down payment whether if they buy that coffee or cancel Netflix or not. Speaking about $10 payments when we’re talking hundreds of thousands of dollars just shows how out of touch you are with the current situation

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I dont belive you; cite it.

And that doesn't change the wealth transfer facts I cited.

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Neither I nor the numbers lie

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that more than 1 in 4 (27%) Americans age 59 or older have nothing saved for retirement. A similar 2024 study conducted by AARP found that 1 in 5 Americans age 50 and older have zero retirement savings.

Yet another 2024 study from the nonprofit Alliance for Lifetime Income (ALI) Retirement Income Institute shows that more than half (52.5%) of the “Peak 65” group of Baby Boomers who will turn 65 by 2030 have less than $250,000 in assets — including savings and real estate. Another 14.6% of this age demographic have $500,000 or less in assets, which is generally not considered enough to maintain most people’s standard of living.

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BTW, what facts did you cite?

So I ran the numbers on this a few years back accounting for time value of down payment+property taxes+insurance+repairs/maintenance/depreciation over 30 years, and as it turns out, renting actually does come out ahead in the long run

You don’t have the asset in the end, but the gains from the freed up capital in lieu of tax/insurance/down payment make up for it

And, we've both made the same point:

You're saying they're too poor to be greedy, and I"m saying the wealthy ones are giving away their wealth.