Boomers don't need to be buying their 3rd or 4th homes while young families are trying to get in to real estate. They need to be in a nursing home.
Discussion
Nursing homes are kind of cruel overall to be honest. I work in some and a lot of times the staff treat the people poorly and the owners cut costs every which way they can screwing over patients. Now if they're buying 3-4th homes they can probably afford a better one
You're right. I'm just grumpy because I'm getting priced out by people who don't need a home. Old people don't need a yard like my kids do.
We've been looking for a new home since 2013 lol. Speculators and fiat have killed it
Dang Bro, 2013??
We're at 3.1% interest and the area we're at is great. To rent is almost 3xs our mortgage now lol
Oh okay so you have a house already right?
Yep a small one that we outgrew years ago with my kids which is why we've been looking. Running into same problems though for years was my point.
We are looking to possibly use geographic arbitrage to offset though. I did see a chart that the amount of buyers has plummeted and supply is increasing as well as bankruptcy. Just keep your head up and there should be an opportunity in your near future
Nursing homes are horrible, but also maybe they should treat their kids better.
master plan to steal the intergenerational wealth.
maybe the most disgusting and shameful industry in america...
recently they have all been flooded with non-english equatorials of all types - none white. none christian.
what a terrible fate - to be surrounded by complete aliens with zero biological, cultural or religious connection...
all so their boomer eternal children can fuck off amd go about continuing to destroy their childrens inheritence.
#judged
Government should get out of the way so that more homes can be built and everyone can have 4 homes (and boomer homes won't be $1m anymore).
In your opinion how is government in the way in this situation?
nostr:nprofile1qqs2j6345gjyq2uqwhzd5g8sgaufdt7vxw2md7kk8cc2vj9gyg4x56gprdmhxue69uhhg6r9vehhyetnwshxummnw3erztnrdakj7q2ywaen5te0dehhxarjd3skuepjvaj8wdm8xdunwdmrw3n8gmmkwe5kcdekwech26ts09kk7dm5wd3hgmrcwp5hw6mwv4m85enfvshx7mnfdahz7zgll9s pretty much covered it. Too many regulations making it expensive and difficult to build homes. I would add property taxes also make it too expensive to own a home.
My problem with boomers isn't with them buying homes. It's when they vote for bigger government so that they can have their taxpayer-funded pensions / social security and inflated house prices.
Social security is some bitch shit
Zoning, planning, permitting.
Add some economic friction for the inefficiencies in lobbying and bribing, and it adds up to a 30% "Developer's Margin" that serves no useful purpose.
And that's just the supply side.
On the demand side, you have rampant printing of shares in the public commons, aka citizenship.