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No. For the top 80 percenters, maybe? I hate to be the one to break this to you, but if your housing market is not back, then you are the anomaly, not me. I invest in real estate, and I know the NYC metro market very well. Here, lower income housing is doing even better than upper income housing. But this is not restricted to my area, as you can see in this article...
I'm aware that lower income housing is more profitable for investors than higher-income housing. Is that what you mean by saying lower income housing is doing even better than upper income housing?
Lower income renters are doing worse than higher income renters; 11 million renters pay at least half their income on shelter.
Every income property is someone else's outgo property.
Baby Boomers will own 45% of the nation's wealth when they reach their 80s (generation, cost).
and who owned 45-50% of the wealth before that.... the silent generation....and before that...the greatest generation
who WILL own 45-50% of the wealth by them reaching their 80's.....EVERY GENERATION
boomers didn't even enter the workforce until the mid 1960's, sorry but you need to quit blaming boomers or gen x for the problems from the two generations before them.....and it looks to be even worse for the next generations as the millennial's are the laziest most wimpiest generation in the last 100 years
why so many threads bashing one generation over another???
Well, the good news for Gen X'ers and millenials is that the boomers can't take it with them, so there are some sizeable inheritances on the way. I know in my case, if the market performs at least decently and the government doesn't steal my money, it will easily sustain both my wife and I and our kids will inherit most of it towards their retirement. So be careful what you wish for.
I would LOVE to see the complainers in this thread work a days work, I mean real work. It would be entertaining.
I would love to see the baby boomers start all over and try and make it with todays wages and cost of living. In 1965 what you made had way more purchasing power than it does now, raises at companies were better, and the cost of living in relation to what the median wages were was way better.
I would love to see the baby boomers start all over and try and make it with todays wages and cost of living. In 1965 what you made had way more purchasing power than it does now.
Wages have stagnated. They have not gone down. Plus technology has made life much easier.
I still remember the mixed look of hope and fear in a woman's eyes when I offered help after her car broke down on a lonely road.
Speaking as a millennial, have you ever heard of compounded interest?
The boomers worked their entire lives and saved. Of course they got all that wealth.
Actually much of boomer wealth was inherited from ww2 generation parents. The ww2 generation was a group of workers and savers. The boomers will spend every penny. Gen x has financed themselves to the max and the millenials are demanding everything for free from the government. The three current generations could learn a thing or to from the ww2 generation, the one who built modern America for all of us to enjoy.
Actually much of boomer wealth was inherited from ww2 generation parents. The ww2 generation was a group of workers and savers. The boomers will spend every penny. Gen x has financed themselves to the max and the millenials are demanding everything for free from the government. The three current generations could learn a thing or to from the ww2 generation, the one who built modern America for all of us to enjoy.
Tell you what, I'll buy you and I a coffee with my inheritance if you promise to pick up the tip. That's been the case for much of the Boomer generation. Assisted living and advanced nursing care eats up that "inheritance" pretty quickly.
Also, when you guys ***** and moan about Boomers and Social Security, keep in mind we were the first generation who paid into it from our very first dollar and are on track to receive less than we put in.
My wife and I are doing better than our parents. We didn't inherit huge sums. My kids, GenX are college educated and are making six figures. Much better than I did. Their kids will inherit whatever's left of my estate.
Wages have stagnated. They have not gone down. Plus technology has made life much easier.
I still remember the mixed look of hope and fear in a woman's eyes when I offered help after her car broke down on a lonely road.
Right, wages stagnated, and the cost of living went up.
Minimum wage was $1.60 in 1968 but a loaf of bread was only .22 cents. MW jumped .20 cents in one year, 1967 to 1968, which is the equivalent of it jumping at least $2.00/hr an hour In 2017. Funny how they had no problem with it back then.
1968 minimum wage bought more bread than it does now even in 2017 when making bread is automated. So not only is the bread cheaper to make now, they eliminated the lower paying bread making jobs, that STILL paid MORE back in 1968.
wtf? Anyone care to explain that one?
Now the Boomers are against the MW going up at all. Wonder why that is? Selfish much?
Boomers had it easier across the board, they didn't have GPS and Google Maps that was the extent of their struggles.
Last edited by wanderlust76; 06-01-2017 at 11:17 AM..
Reason: extra thought
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