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Baby boomers are snatching houses out of the hands of millennials
Business Insider ^ | Oct 16, 2021 | Hillary Hoffower,Andy Kiersz

Posted on 10/16/2021 6:10:13 AM PDT by where's_the_Outrage?

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To: where's_the_Outrage?

There are plenty of starter homes available. But millennials expect to buy a house right out of the box like the one their parents had after years of work and saving.


21 posted on 10/16/2021 7:03:55 AM PDT by hinckley buzzard ( Resist the narrative.)
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To: Fido969

“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.”

Same here. I got 10% no points and felt fortunate. I pointed that out to some younger person who was complaining about how tough they had it with 3% mortgage rates. They didn’t want to listen to facts (and probably were not capable of doing the math).


22 posted on 10/16/2021 7:05:09 AM PDT by utax
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To: Fido969

Bought a house in 1978. Interest rate was 10.25%. 30 year mortgage.


23 posted on 10/16/2021 7:05:11 AM PDT by hinckley buzzard ( Resist the narrative.)
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To: where's_the_Outrage?

“Boomers snatching homes out of millennials hands”

Wow can these “journalists” be any more direct in creating artificial groups of Americans and then pit them against each other?

And we wonder why why there is so much divisiveness , the journalism industry manufactures most of just like in this article.


24 posted on 10/16/2021 7:08:44 AM PDT by HereInTheHeartland (Leave me alone, I have no incriminating evidence on the Clinton's )
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To: JoSixChip

I bet at least one of those bids was from Back Rock, perhaps through a designated buyer.


25 posted on 10/16/2021 7:10:33 AM PDT by arthurus (covfefe foo)
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To: phoneman08

I’d downsize but we moved my 95 yo father in law in to care for him I still have an 8 year old at home and 27 year old daughter moved in during her residency to save $ to lay down student loans. House is as full as ever! Hopefully when 27 yo moves out in the next year two we will be blessed with son in law and grandchildren. When my out of town family including son and his 2 kids visit we currently have to put them up in a hotel! You only think life gets less complicated when you retire…


26 posted on 10/16/2021 7:11:18 AM PDT by Mom MD ( )
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To: dynachrome
- 20 years accumulation needs to go. -

Exactly. The trouble with not downsizing when becoming an empty nester is that it gives you more room to store things you never use. ;-)

27 posted on 10/16/2021 7:14:38 AM PDT by ken in texas
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To: where's_the_Outrage?

We are selling both of our properties and buying a homestead in the mountains. The market is just too good to pass up.


28 posted on 10/16/2021 7:15:53 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped)
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To: Drew68

For your interest.


29 posted on 10/16/2021 7:19:33 AM PDT by KC_Lion
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To: Mom MD

This is true. One of the arguments my wife emphasizes against selling is she’s convinced my oldest daughter and grandson will leave her husband. She could be right. He’s an er, weenie.

I recently retired and am now really only able to fully enjoy my home since I’m finished busting my tail off.

I’ve swum more in my pool this summer than in all of the past twenty years combined. I’ve watched more movies in my home theater this year than ever, and I’m sitting on the back deck watching the leaves change as I type this over a nice cup of coffee. Perhaps she’s right.


30 posted on 10/16/2021 7:22:25 AM PDT by phoneman08 (qwiyrqweopigradfdz oncmccRthym,.dadfjl,dz )
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To: ctdonath2

not defending millenials, but I think general outrage and concern over a 25%+ rise in home prices YOY (even higher for the cheapest homes) is quite warranted. Interest rates only came down marginally from 2019.


31 posted on 10/16/2021 7:22:34 AM PDT by millenial4freedom (The Left: We hate the white male, but we need his money)
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To: ken in texas; dynachrome

” The trouble with not downsizing when becoming an empty nester is that it gives you more room to store things you never use. ;-)”

One of my personal laws is that “The stuff you accumulate will grow to exceed your storage space.”

In 2011 I put all my crap in the garage and had an auction company sell it. I really didn’t care about the money, just wanted it all gone.


32 posted on 10/16/2021 7:23:01 AM PDT by where's_the_Outrage? (Drain the Swamp. Build the Wall.)
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To: where's_the_Outrage?

That’s hysterical. Every Boomer I know has HELPED their kids buy or rent a house. A lot of us write them checks on a semi-regular basis to keep them afloat.

Another article trying to start trouble.


33 posted on 10/16/2021 7:27:01 AM PDT by SaxxonWoods (Let's Go Brandon!!!)
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To: where's_the_Outrage?

“I really didn’t care about the money”

I just had someone offer more than the tag. “that’s too cheap”

I said ‘nope’ and ‘take another $2 item’. (moving sale ongoing)


34 posted on 10/16/2021 7:34:11 AM PDT by dynachrome ("I will not be reconstructed, and I do not give a damn.")
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To: where's_the_Outrage?

Moving is an outstanding opportunity to throw garbage out. If you haven’t touched it in 3 years and there isn’t lots of sentimental value, get rid of it.


35 posted on 10/16/2021 7:37:09 AM PDT by glorgau
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To: Openurmind
Makes complete sense that a productive generation is supposed to do better than a nonproductive generation...


36 posted on 10/16/2021 7:41:32 AM PDT by Drew68
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To: dynachrome

I joined my town’s annual garage sale and put up a sign that said FREE. Why mess with cash trying to make a few bucks just to catch COVID?

Then I filled a 16 yard dumpster. Best $1,200 I’ve spent in a while. Now we are in the new place and things are good.


37 posted on 10/16/2021 7:43:05 AM PDT by SaxxonWoods (Let's Go Brandon!!!)
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To: Drew68

Garbage. My kid has had it better than I did so far. Better housing, nicer cars, you name it.


38 posted on 10/16/2021 7:45:26 AM PDT by SaxxonWoods (Let's Go Brandon!!!)
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To: dynachrome

“I am in the process of downsizing. Same size house, but no basement. 20 years accumulation needs to go.”

We just had our second retro fit in the same home. We will be carried out feet first when our time is due. No basement but a high quality shed in the car port and the lockable storage areas in the car port were emptied. Also, our home has a lot of large closets through out the home.

Kayaks were given away to the work crew, one was sold with its trailer. The shed was dismantled and hauled away and most of the stuff in the carport storage areas was given away or thrown away.

Our city has great curb side new ownership for good but no longer wanted items. Just put them by the curb and a free sign.

Anything that isn’t picked up via the curbside free method goes to Good Will or the garbage people will haul it away for free.

Our future heirs have put their names on the backs of paintings and furniture. Anything of value left over will go into an estate sale. A younger friend will handle that. She and her daughter are furniture stagers for selling homes.


39 posted on 10/16/2021 7:50:08 AM PDT by Grampa Dave (Lockdowns will go down as one of the greatest peacetime policy failures in modern history! Cui bono?)
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To: where's_the_Outrage?

i live in a starter home, it was built in 1885...


40 posted on 10/16/2021 7:50:46 AM PDT by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
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