On an unrelated note, suddenly, boomers care about affordable housing for no apparent reason.
I still everyone thinks that boomer`s houses magically built themself and cost nothing. No interest was payed for the loan and the time there where built money rained from the sky.
If you think that, I know you’re unfamiliar with the economy and real estate.
They bought them, yes. In fact, they had higher interest rates! My dad’s first mortgage in the 80s was at 17%…but the loan was less than 2 years of his salary which made his payments pretty easy. Now I’m expecting to have to pay 5-6x my salary for a similar home.
And to get ahead of some rebuttals: adjusted for inflation, I am making more than he did at the time so it’s not that. And the homes I’m looking at are in less desirable neighborhoods than I grew up in so it’s not that either.
Furthermore, his parents’ generation wasn’t hoarding real estate for Airbnb rentals.
Also, there has been a drop in new housing construction since 2008.
There was a massive multigenerational push to build new housing, with government agencies either facilitating new construction with infrastructure or helping to fund its construction.
if he bought his first home in the 80’s then your dad is a really young boomer to. or waited awhile for some reason. anyway there is a different with each generation over the 20 year span. not that it makes much of a difference when things are great. just older boomers had it a bit better even. The basic pattern is the younger the worse you have it if you where born in the 70’s or later. I really can’t fanthom why people are still having kids.
People also fail to factor in the difference in ameneties between boomers’ 2 bedroom, single floor, no-garage house vs what people demand today
I’m actively searching for a house to buy - smaller than the one that what I grew up in - and while you’re right about people wanting more space, it does not matter. Homes are disproportionally more expensive than they were in the 80s
Is it demand or is it a question of builders wanting to maximize profits by building larger homes vs small starter homes?
https://realestate.usnews.com/real-estate/articles/what-is-a-starter-home
Data from the Census Bureau shows that 40% of homes constructed in 1980 were considered entry-level homes. In 2019, only 7% of homes were entry-level, according to a 2021 report from Freddie Mac, and almost every state is building fewer starter homes.
“Because of the cost of labor and supplies, builders are mainly focused on building more expensive homes, since it no longer makes sense for them to build more affordable homes,” Carlton says.
Nobody with a brain believes that straw man.
The topic is complex and nuanced but it isn’t hard to see that, say, single family homes are harder to afford now versus in the past by several measures.
Here are some examples articles…
https://anytimeestimate.com/research/housing-prices-vs-inflation/
Though the title of the following sounds like it disproves me until you get to the part about wages not keeping up.
https://www.supermoney.com/inflation-adjusted-home-prices/
Now compare the rise in the median price of a home to the median income of Americans.
if you adjust for inflation, the median income of Americans has only increased by 33%. The median housing prices, however, have increased by 60%. It’s even worse when you look at the income of younger adults. For instance, the median income of people between 25 and 34 only increased by $30 in 44 years (1974 to 2017). It’s no wonder homeownership rates among Millennials are lower than for previous generations.
Particularly in the last few years things have gotten worse.
https://cnn.com/cnn/2023/08/24/homes/home-affordability-worst-since-1984/index.html
Suddenly boomers believe in a massive increase to social security taxes to pay for them.
I look forward to watching them die off.
I’m not saying dude’s right (not saying he’s wrong, either, mind), but Boomers have been trying to choke out everyone outside of their cohort (and a significant chunk of those in their cohort, for that matter) for decades. The sooner they’re out of the way, the sooner the rest of us can start picking up the pieces they’ve left us.
Ageist comments are weirdly popular on lemmy. Why is ageism encouraged when sexism and racism are not?
Disclaimer: These are obviously over generalizations and don’t match all individuals.
Because it’s not the age people are against, it’s the generation. The boomer generation had some of the most prosperous years in American history and wasted them. The general idea is you’re supposed to make the world a better place for the people that come next, and they did the opposite. They cut social systems, defunded education, let public transportation die, outsourced everything, and lined their pockets with investments in oil that are killing the planet.
I won’t blame someone for being old, but I will judge them by what they did and supported during their life. And as a whole, the boomers have a lot to answer for.
There is a huge subset of boomers that fought and voted for the betterment of society that were completely fucked by the system. Maybe a LITTLE bit of consolation and empathy for them?
Too bad so sad git gud
They should cut back on avocado toast and get rid of cable.
Don’t worry, as the saying goes “pull yourself up by the dick”, and maybe they will gain enough wealth to become expats and gain more in foreign wealth and sex on Southeast and East Asia…, /s (Edited for clarification)
Instructions unclear, tried unsuccessfully multiple times and now I just feel like God hates me.
Have they tried trickle down economics or maybe pulling themselves up by their bootstraps??
