[Recon Dad]

How many people living in expense areas could sell homes that were purchased for $50K and lower in the 1970's that are now worth $300K and $400K. Move to smaller digs and bank the money. Lots of money in them thar homes.

Unfortunately I live in a smallish town in Ohio and won't benefit from this housing bump, but I plan on using my equity if interest rates stay low to both finance the new home and give me some additional bump in income. Have to maintain a mortgage, but if my planner is right we should be good to go.

[MineralMan]

"How many people living in expense areas could sell homes that were purchased for $50K and lower in the 1970's that are now worth $300K and $400K. Move to smaller digs and bank the money. Lots of money in them thar homes."

Among boomers? Lots and lots. I bought a California home in 1974 for $20,000, and paid it off in 6 years. I lived in it for 35 years.

Two years ago, I sold it for $337,000. I packed up and moved to Minnesota, where I bought a home twice as big for $175,000, and banked the rest. Why did I move to Minnesota. Well, my wife's parents, who are part of "The Greatest Generation," were getting older and needed some help from day to day. So we moved to be near them.

What I'm hearing from the Gen-Xers is that they plan on dumping the Boomers (their parents), rather than moving to take care of them. OK, then...there it is. Screw 'em.