Posted on 12/21/2019 5:58:54 PM PST by GuavaCheesePuff
As baby boomers look to downsize out of their suburban McMansions, a generational showdown is looming: Millennials might be coming into their own as the nation's biggest group of first-time home buyers, but they aren't exactly lining up with bids in hand for those large, expensive homes in the sleepier suburbs. Instead, they're looking for a different kind of home—the same ones, in fact, that the empty nesters are looking to buy.
It's a battle of the millennials vs. baby boomers playing out in the nation's suburban housing markets.
(Excerpt) Read more at realtor.com ...
Not seeing this at all, see young people buying big homes and filling them with children. All the young families at our church have between one and four children, and the parents are all about 30 I expect they will have at least another one or two each.
Pshaw.
Th McMansions were built for immigrants.
Agreed. It’s an article written by Realtors (R) to alert you to available McMansions in your area! Contact a Realtor (R) in your area today!!
That’s not happening around here. All the foreigners from California being imported by the big companies to try to turn Texas democrat buy the biggest, most expensive, houses they can to try to soak up all the cash they got from selling their tiny hovels out there.
The only reason not to want a McMansion is because the McGovernment imposed high McProperty Taxes are too damn high.
You’re also paying for air. I don’t see the need for myself to own a home bigger than 3,000sqft
Here in the Boise area, property taxes went up 20% this year due to an overheated real estate market.
Around here there are some large but to me blah looking houses on little lots. Windows facing the big house on the neighboring little lot. I sure don’t find that appealing.
I want a YUGE McPoleBarn.
With a plush mancave so I can play George Burns and monitor “Gracie” rambling around over in the house...
I agree with the posts so far. These millennials around us grew up in spacious homes and don’t want to go back to tract three bedrooms. Next door 30 somethings bought a good sized foreclosure ( 3,500 ft2), did it over, sold it in a day to other millennials and bought a bigger place.
We on the other hand don’t like what they offer as downsizing opportunities. Thinking of building one myself as a retirement project... or put an elevator in the one we have.
A total garbage article. We just sold our house to move up. Millennials are desperate to leave the city for the suburbs when they grow up and see the retchid filth the live in. Very few of them can afford a house because they drown in debt. They have poor money management skills.
I’m in a 2,800 sqft condo, and Me, Myself & I are very comfortable.
History repeats itself. The millionaires who built massive mansions a century ago had children who preferred apartment living. Less taxes, lower maintenance costs, no need for armies of servants — and all the family money went into building those palaces.
The article points to why both the cities and suburbs are getting more conservative and trending Republican.
A McTruth.
Got about the same size trailer/shack in the boonies.
Very comfortable.
Though it was more comfortable before my ladyfriend neighbor passed away. And this year I had to hire help with the yardwork.
So there’s been a flood of homes on the market over the last 1-2 years as more and more middle-aged homeowners have found themselves in that position. The thing is, the typical couple is not desperate to sell and they’re dead-set on getting a certain price for the home. So they put the home on the market for $800,000 (for example), and it sits there for months or even a year or two without any buyers and without any reduction in the price. The end result is that we have a bunch of these homes on the market right now, and the imbalance between sellers and buyers is pushing down the sale price of any home that actually does get sold.
Yeah, those Wealth Taxes are tough to take in the long run.
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