Posted on 10/16/2021 6:10:13 AM PDT by where's_the_Outrage?
Boomers and millennials are competing for houses, per a new Zillow report. Boomers are winning.
Boomers have more cash to win bidding wars as they take advantage of an appreciating market.
Buying a home has been hard enough for millennials, who are struggling with skyhigh prices and a lack of starter homes.
Baby boomers and millennials are in a housing war.
It's boomers who are winning, according to a Zillow report released this week. It found that so many boomers are active in the housing market that it's become more difficult for millennials to buy a home.
As seen in the chart below, Americans 60 years old and older have been more active in the housing market in the past decade than people in the same age group 10 years earlier. The share of homebuyers in this cohort grew by 47% from 2009 to 2019. Meanwhile, the share of younger buyers ages 18 to 39 in the past decade has shrunk by 13% in the same time frame.
(Excerpt) Read more at msn.com ...
Seriously consider downsizing. I just put some rental property on the market because I don't want the hassle anymore and it's a seller's market.
It also fixes global warming.
I’d love to downside. I just can’t afford the divorce.
My house didn’t sell. Priced too high. I’ll try next spring.
With all the homelessness and border openings they are setting us up for a Bolshevik takeover. More than one house? Downsize. Can you hide your profits? I don’t think so. Safe deposit box of gold won’t even be safe.
Some boomers are going to get stuck upside down and some Millennials aren’t going to retire on their inheritances.
I’m crying for millenials after reading this article.
Shame on me for staying in my own house and not going to live with my kiddos.
Good Grief. Quit Bellyaching.
We bought a house in February of this year in Florida. It was against my better judgement because we already owned a large house and could not afford to own two houses. We put our old house on the market in April. It sold in two days with 8 separate offers. All bids were for at least 15% more then asking and waived inspections and appraisals. I almost felt bad for buyers, it was very competitive and overpriced. We even had liberals come in and try to game the system and offer bonuses if we accepted their offer before giving others the chance to bid. In the end, we sold to a young couple that was obviously conservative and was not even the highest bid.
When rates nudge up (and they will), prices will come down quickly.
When I bought my first house, it was during a real estate spike, and interest rates were over 10 percent. No picnic for this boomer.
I am in the process of downsizing. Same size house, but no basement. 20 years accumulation needs to go.
Makes complete sense that a productive generation is supposed to do better than a nonproductive generation...
The same “productive generation” which did nothing as millions of illegals crossed the border?
Can’t the millennials fust wait out the boomers? Time is on their side...
Just
BOOMERS have discovered the joy of fixing up their homes and flipping homes for maximum profit,
They’ll have to wait a long time in NYS.
Geezers get a big property tax break in NYS.
And our state’s property taxes are high, especially in parts of Upstate.
In my neck of the Upstate woods, an existing home of 2,000 Sq ft on a postage stamp size lawn can run up to 10 grand in prop taxes annually.
Families with kids, or a couple that would like to have kids or more kids, are getting shafted.
NYS is ensuring that it won’t be making lots of future taxpayers.
I am of the last year of the boomers and very few boomers I know endorse illegal immigration? Even the leftist boomers I know, it was the following generation that embraced that.
That was part of the plan...didn't you study Spanish in high school?
Go to Zillow.com, set your budget, pick a state, search. Be flexible and creative. There’s plenty out there. MOVE. You don’t get to pick a place just because you want it - when others want it too and are willing to pay more for it.
Our commercialism culture teaches youth they can have what they want - unfamiliar with competing for strictly limited supply vs high demand.
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