Ok Boomer. Now You are Gonna Ruin the Housing Market

originally posted by: DanDanDat

originally posted by: Nyiah

originally posted by: Sillyolme
a reply to: strongfp

Everybody wants to sell their house for more than they paid for it.
That's why they say invest in land.

That's exactly what my dad did to recover from medical costs for my youngest brother -- invested his savings remains in undeveloped property again.

He's sitting on a nice nest egg now.

Just a word of caution to some reading this. While it is a worth while investing tool; its not fool proof. You need to do your homework.

My grandfather did the same, made some money on some of the properties. But three properties in Florida are still sitting long long after they have been brought and my grandfather passed away. The area in which he purchased them never developed like it was supposed too and so the properties where never worth what he paid for them. Taxes are cheap so we just hold them now.

Definitely not foolproof, know your area's desirability for residental or commercial building down the road.

Offhand, where are those properties in FL that you mentioned? My dad held numerous ones, both residential and commercial zoned, in FL when we lived there, in Tampa, Venice, Englewood, Cape Coral and Marathon (how he managed to find undeveloped commercial land on Marathon Key is beyond me, but he owned it for years before selling)

I think he had a few acres near Deltona and St Augustine, too.

originally posted by: Gothmog
a reply to: Nyiah
Yeah , refinancing a home is a trap , set by finance companies

Can't agree. If done correctly, it can be great. A friend of mine bought her home ten years earlier than she would have if she simply stuck with her original financing agreement. The rates were so low, it was crazy not to refinance, even with the processing fees. And now she's a homeowner.

Millennial here. I've already owned my own home which I unfortunately lost during a flooding incident. I've been staying in apartments ever since, but if/when house prices do come down I'll definitely be buying another one or maybe more.

originally posted by: lakenheath24
Best go ask your grandkids if you can join their safespace then. 😂🤣😅



a reply to: Hecate666

I wish I knew what you are responding to as it was taken off and I can't remember what I said. I also do not have children nor grand children. This is probably off target as well. I wouldn't know, neither can I learn from this as I have no access to my post. I am glad they left your response to an off target post of mine though as being told off is a good thing.

It was a rather pathetic choice to delete my post as it was written sarcastically. You basically wouldnt read my OP because you thought the title was offensive. Ergo the suggestion to find a safespace. Quite the tame insult i thought.



a reply to: Hecate666

Meh? Who cares? My Millennial children will inherit the house and thus gain a valuable asset once again without doing a single thing to earn it. They have accomplished little not because they could not, but because they didn't bother. I even paid for their college education. They chose Underwater Basket Weaving and can't figure out why they can't get a good job.

"OK, Boomer!" A shorthand version of "Would you like fries with that?"

a reply to: lakenheath24

Didn't we just get done hearing about how Boomer's kids and grandkids never moved out and are living at home with them? So it seems like even if the homes don't sell, somebody will get them.

Aaaah,, thats why peeps dislike you lot...you got yours and screw what happens. Nice.



a reply to: schuyler

a reply to: lakenheath24

Being that over 50% of 26-35 year olds (millennial's) live with their parents (boomers), I don't think this will present a housing crisis of any kind. We don't live in the age of population decline (yet) so the demand will be there for the homes.

a reply to: lakenheath24

as in suburban areas ard losing population

No, they're growing. At least according to your second article:

Suburbs growing more rapidly than rural or urban areas

The kid that farms my property is 26 and owns 200 acres and rents another 600. He's smart and hard working and plans on retiring at 40-50. The kid that mows my lawn started at 14 with a push mower behind an old rider, he is now 22 11-12 rigs, 4x4 with trailers for mowing and plowing snow. A large shop and every piece of his equipment looks brand new.

Some will survive better than most.

a reply to: lakenheath24
Grow up op

TandC's prevent me from calling people retards....so i wont call you a retard in this post.....i will just think it.





a reply to: ziplock9000

Maybe the disinterest in boomer’s property and associated price drops is just the millennials getting back at the boomers for all the smack they talked about them.

In all seriousness though this particular housing concern/fear is largely just click bait.

Housing market will be fine.

originally posted by: St Udio
a reply to: lakenheath24

the existing 21 million dwellings are gonna need to be remodeled and the single family house re-zoned as multi-family property

with a resourceful, future looking remodeler, those 3000 sq ft Boomer houses can be reconfigured into 3 separate Tiny Houses but under a single roof or footprint...

thus keeping the mass transit infrastructure in place and UpGraded for a larger community of Millennials & other generational groups into potential, desirable, Hub Locals

Alas the older houses lived-in by Boomers were only designed with a 50-70 year horizon of occupancy as the standard building life before extreme renovation costs exceeded the ROI (return on investment)


Maybe we are going to witness the electronic house mortgage /Titles (MERs System) implode on a great number of Boomer Houses which the Fed Reserve bought up from the 2007-08-09 housing collapses


the future is too fluid or dynamic to see things clearly, at least to myself

Definitely seeing a lot of that too homes built in the 70's being sold to bulldoze and start over. In the high-end neighborhoods as well as the little former starter home neighborhoods. Property that has been vacant for 15 years is suddenly selling at astronomical prices. All of it started her about 10 tears ago a huge developer bought the run down huge low-end apartment complex tore it down fought with city councils etc then finally got the okay for retail/apartment community which has anchored growth in new homes, more apartments, shopping centers and basically incorporated a new town from the larger city.

originally posted by: lakenheath24
Interesting article on the potential housing situation over the next 2 decades. Boomers own 25% of for sale homes in the US and its predicted that some 21 million homes will be on the market over those coming years as boomers peg it....but mostly in areas that young peeps dont care about.

www.wsj.com...

Thats a lot of wealth erased. These areas could go the way of the old boom towns of the gold rush. Or not...who knows...but it does make a lot.of sense.

And not only that, but the demographics are changing rapidly...as in suburban areas ard losing population. We saw this in the last election, where big city populations nearly trumped the burbs, so it will be an interesting next 20 years.

www.pewsocialtrends.org...

Good. No home is worth over 125k. If built over, its because of extravagance and not because of practicality.

Why should anyone feel sorry for any developer or engineer that designs dwellings no one can initially afford?

Sorry you greedy morons. Enjoy the burst to your bubble.

originally posted by: Blue Shift

originally posted by: Lysergic
So, what to do about this, Boomer problem?

Just wait. Time will resolve all issues regarding Baby Boomers.

Isn't that the truth, but unlike previous generations doubt us boomers can count on the previous generations taking care of us as we get old. LOL and getting old is expensive as hell, watched grandmothers have to have special care for years that gobbled up whatever funds they were able to save or use property/home sales for. Same for my now passed father an now my mother it's taking every cent we can muster. We are living with one of my sisters just to save money and regroup cause we have had about 12 years of medical emergencies, surgeries, long term chemotherapy, and palliative care for both grandmothers and our father and now my Mom is having problems too.

LOL I've got good daughters and I love them and they love me but I don't see either one of them being able to financially, physically or mentally being able to help to the degree we have had to. That's not a knock on them it's just likely to be even more difficult than it has been for us. We had more kids and grandkids to help. I told my brother if everything goes south save me a room in his basement.

a reply to: Nyiah

They are up in the Tallahassee area; the idea was that they where supposed to build some military instillation near by and my grandfather's properties would have been prime residential.... they never built the installation.