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I don't know how old you are. I can give you a realistic picture of people whose kids are grown and graduated from college. One's savings have been dented. It's not the time to buy a new house, particularly in this housing market.
Everyone is in a different position, both in terms of Real estate, and in terms of college financing. I wouldnt generalize.
Again, do you really think there are no empty nesters living in central cities -cause thats what you seem to be implying.
er, I didnt know this was a discussion of you. Some folks buy and sell houses relatively frequently, some are interested in selling then renting, whatever.
Are you really denying that there are (working) empty nesters living in center cities?
No. I am saying I don't think this is going to be a huge demographic. Most of the empty-nesters I know are staying put. So it's not just about me.
Quote:
Originally Posted by brooklynborndad
My sense is that empty nesters usually move into condos or rental apartments, or smaller houses than they lived in in the suburbs. When the kids are gone, not as much space is needed. Obviously folks who strongly value the space, tend to stay in the suburbs.
I am over 50 years old, and definitely recall that. I am not sure of your point?
Got a link for that, other than your "sense"? Do you actually know an empty-nester who sold their house in the burbs and moved into the city?
My point about young people wanting to live in the city being nothing new is exactly that. We boomers talked about moving out of the burbs into the city, too. Some of us (me, for one) did, but not for all time. The beatniks did it, too, but somehow I think most of them also married, had kids and moved to the burbs.
Quote:
Originally Posted by brooklynborndad
Everyone is in a different position, both in terms of Real estate, and in terms of college financing. I wouldnt generalize.
Again, do you really think there are no empty nesters living in central cities -cause thats what you seem to be implying.
Yes, most people were much worse off than us in terms of college financing. Our kids graduated with no student loans to pay off. One graduated from a small private liberal arts college; the other started at a private college and graduated from the University of Colorado.
No, why are you asking again literally five minutes after you asked the first time?
Quote:
Originally Posted by brooklynborndad
I intend to keep active, Id much rather live near a metro station than rely on a van.
Not everyone moves to assisted living by any means.
My father-in-law had a bone disease that made it impossible for him to even walk around the grocery store, as I posted earlier.
I never said everyone moves into assisted living, but a lot do, especially if they get old enough.
"Do you actually know an empty-nester who sold their house in the burbs and moved into the city?"
We are just a tad young, our DD just graduated from HS - most of our friends either arent there yet, or already lived pretty close in with their kids. Or never had kids.
"My point about young people wanting to live in the city being nothing new is exactly that. We boomers talked about moving out of the burbs into the city, too. Some of us (me, for one) did, but not for all time. The beatniks did it, too, but somehow I think most of them also married, had kids and moved to the burbs. "
Like I said, the time when one is married AND have kids between 5 and 18 is the prime time for suburban living. I do know boomers who raised their kids in cities (including Baltimore, MD, Brookline Mass (technically a suburb, but this was an urban nabe, NYC, etc)
I also know lots of boomers who never had kids.
"Yes, most people were much worse off than us in terms of college financing. Our kids graduated with no student loans to pay off. One graduated from a small private liberal arts college; the other started at a private college and graduated from the University of Colorado."
Some kids go to state schools or haveother situations making college relatively cheap.
"No, why are you asking again literally five minutes after you asked the first time?"
responding to multiple posts of yours that seem to imply the same thing.
"My father-in-law had a bone disease that made it impossible for him to even walk around the grocery store, as I posted earlier.
I never said everyone moves into assisted living, but a lot do, especially if they get old enough."
But again, I am talking about working empty nesters, not retirees.
"In recent years, several apartments and condominiums have opened in the district that cater to upscale residents, particularly empty nesters. These include Avalon at Gallery Place, a luxury apartment building near the MCI Center, and Market Square, a posh building near the Naval Memorial downtown.
“Most of (empty-nester boomers) are affluent, so they can afford to buy in the better communities in town,” said Dale Mattison, a real estate broker who said the number of homes in the city he has sold to older suburbanites has steadily increased in recent years."
You could have waited to see if I responded to your first post, instead of asking the same question five minutes later. Not all of us spend all day on CD.
A cheap shot (no pun intended) about the "cheapness" of the University of Colorado.
People who never had kids and have always lived in the city are a different group from people moving to the city after their kids have left home.
36 percent of Boomers will move or plan to move when they become Empty Nesters. When they retire, 55 percent say they will move.
Want a smaller home when they retire – 23 percent
BTW: All of your links are predictions, not what has actually happened. Remember when we boomers were all going to live in communes and give up the pursuit of money? Didn't happen. I also notice a prediliction for the word "flock" as regards empty-nesters. Makes you wonder what they're teaching in J-school these days.
Last edited by Katarina Witt; 02-15-2011 at 04:06 PM..
Last night you accused me of getting personal; now I'm going to, and say, "nice way to tell me I didn't save enough money". Just as I have no idea of your parents' finances, something we also discussed last night, you have no idea of mine. We actually are better savers than a lot of people I know, going by casual conversation anyway. We were also fortunate to inherit some money when our oldest was in high school. Paying for their college educations was also something we wanted to do.
I don't know why are bringing up your own fiances. My point was that the dented finances was a bit of an assumption. I didn't mention your finances before, and neither did you in your previous post, you gave a broad generalization. You said "one's saving have been dented". I know some families whose families where that is true others where that is not true.
Quote:
No matter how well you've saved, college is an expense that cuts into one's "discretionary" spending, particularly large expenses like buying houses. I do not kinow one person who bought a new house while their kids were in college. I've heard of some doing so afterward, but frankly, most of the people I know in similar circumstances are staying put.
What about moving to a slightly cheaper house? Or if their house is totally paid for?
Anyway, I knew a few people whose parents did move while in college. They weren't very happy with it. Coming home to your parents wasn't home anymore. I knew someone whose parents moved from Long Island to Missouri and another whose parents moved from Manhattan to a small city in PA and I can't remember others. Neither was very happy with their parent's choice. Granted, those places are cheaper than where they left.
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