shortage of affordable homes on the market
Seniors' mobility could be impeded if they try to relocate to more expensive markets to be closer to family than where they currently live, especially given higher rates and rising prices, Goodman points out. The AARP survey found that adults age 50 and older are open to housing alternatives, such as home sharing , building an accessory dwelling unit and villages that provide services that enable aging in place .
It’s not difficult to downsize.
Too bad younger generation cant afford to buy their houses
But, you gotta live somewhere.
Problem is in many locations it’s the carry costs that are very unattractive. Property taxes in particular have increased must faster than home appreciation, plus tax law changes at the margin, are big negatives.
Of course it will - there are not enough people to buy all their big houses
Have to sell the homes for a lot less money, the next generation has more debt from student loans and also less opportunity to gain success without a degree.
Boo hoo I can’t even find a fucking apartment to RENT for less than hAlf my income! Forget about home purchase!! cnn getreal
Tell me about it. We’re long retired in a 3300 sf house with hundreds of boxes of “stuff” in storerooms. No idea what to do with it all, but I’m real tired of mowing and shoveling.
We have inverted the housing market! Used to start out small and end up big, now we start off big and downsize. Started about the time we chose to store old people rather then care for them like family.
Baby boomers worked hard for what we have enough of the hating on us the millennials are the ones with big heads who don’t work they want free free free
This, I believe is true.
Dam boomers
Global central banks joint efforts of flooding the whole world with excess liquidity is creating a global property bubble, or housing crisis for normal people
The Fed already created an asset inflation to the point an entire generation has been priced out of housing. Now they want to take rates down to 0 to keep it going.
BUT THERE IS NO PLACE TO RENT...AND THE AFFORDABLE HOUSING IS GONE...GENTRIFICATION IS KILLING US SENIORS...RENTS ARE SKYROCKETING BECAUSE GREEDY REAL ESTATE AGENST HAVE MANIPULATED THE MARKET. SUICIDE IS THE ONLY RETIREMENT PLAN FOR MOST OF US...THE ONLY WAY OUT.
So wait a minute, are you telling me that it’s possible that the asset price inflation from the loose monetary policy that has priced millennials out of home ownership is going to have demographic consequences? 🤔
I thought this article was satire boomers: inflate the housing market boomers: shocked that they cant 'downsize' to an affordable home after making every home unaffordable hey boomers pls hurry up & perish so that I can afford to live, thanks
From our little off the beaten path neighborhood, Mostly retired or late in their careers people, Senior pass;s away, Someone approx. 20 yrs or younger moves in
What a crop of crap. This is a lie Your disgraceful
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Same problem with my relatives, Said down size 8 yrs ago but no, they didn't - ( Housing prices low back then ) Thought that trend might happen after 2012, Looking back on it - That was an stupid notion that I had
They should have had the advocado toast instead.
This article is a year old! Why are you posting this?
Just so you “journalists” can get trained in... We’ve ONLY had one housing crisis in my lifetime (nearly 60 years) It was largely caused by the government who is in charge of pretty much all lending
Rising mortgage rates And, using a California example is ludicrous. CNBC has been doing too much reporting on fringe examples lately, like that idiot woman with $400K in student loan debt and 3 degrees that pay less than a bachelors degree. Spare us the shock and awe.
I’m sure they’ll find some way to blame millennials. 🤷🏻♂️
All those McMansions dumped on the market will wreak havoc .......................I have been saying this for years. They are ageing and expensive to heat, cool and maintain , plus they have high property taxes.
Inventory is low actually, & becoming worst. Prices will go up again.