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Why should empty nesters downsize? If their home is paid for, that makes very little sense. Moving is VERY expensive. All of their belongings have a home and fit right where they are.
Many people pick up hobbies as their children grow up and move out. Once grandchild come along, they tend to have even more hobbies. Hobbies that take up space such as scrapbooking, knitting, rug hooking, model building, woodworking, gardening, music, piano playing, rving, etc.
If they downsize, what do they do when their children want to visit? Many parents don't want their kids in hotels. They want them at the house. Same with grandchildren. Growing up, I spent almost every weekend at a grandparent or great grandparent's house. I had a great time spending all that time with my grandparents. They're all gone and I miss them dearly. I have cousins who have never met them because they're so much younger. I feel bad for them because they missed out.
My great grandmother has been gone for 25 years and I still tear up whenever I'm home and I drive by her house. She was an amazing woman.....amazing doesn't even begin to describe her. She LOVED having her nieces, nephews, grandchildren, great grandchildren, etc spend a few days. Most of us are scattered all over the country.
My grandfather converted the basement into a village. He built an entire town. He built tables with streets, lights, trees, parks, houses, the whole 9 yards. He loved those village houses you can buy at Christmas time. He had a lot of free time when he was forced into early retirement due to health reasons. His village was absolutely amazing! Each child, grandchild, sibling, and parent had a house with their name on the house or mailbox. His town literally took up the basement. It was a sight to see! Sadly, after he passed away my grandmother gave it to a church.
Why is it assumed that all baby boomers want to move to a condo or move to Florida? I live in the Northeast and I can count on one hand the number of people I know who have moved to Florida. None of them live in a condo! All but one wants to move back home to their family, but now they're out of money.
One thing Abby is missing out on is that these aren't just houses. They're homes. Homes families were raised in. Home where memories - good and bad were made. Many people will never give all of that up. And why should they?
I didn't say they should. I said the fact that they're not is a major hurdle for millennials trying to buy a home to raise a family in. That's all. Just venting frustration. Also, I agree with you that most people don't downsize ever, rendering the myth of "equity" mostly useless.
You youngens could all move to areas that have larger apartments or houses for rent. Nah, instead blame others. Keep your contempt. Older generations - including mine and I'm not a boomer - don't give a flying fig about your contempt.
I'm told that only fools rent.
I know you don't care, that's sorta my point.
Who ever said a young couple starting a family need a 3,000 square foot house? Sounds like what you want/demand. Join us all back here on earth and work for what you want. No one owes you a single thing.
And who said a 70 year old woman living by herself needs 3000 SF?
I am not asking for a house to be handed to me. I have the money to buy it.
My mother is 72 and has lived in the same home for 40 years. She said that she wants her dead body to be carried out of her home and I hope she gets her wish.
This is why millennials think boomers are greedy. It's very hard to buy our first home to raise a family in because of low inventory.
Quote:
Originally Posted by Abby Schmitters
I just can't stand squatters that lead to a stagnant market that leads to no inventory and a bidding war on the 1 good listing that comes along every 6 weeks
Speaking of greedy ...
Quote:
Originally Posted by Abby Schmitters
How is it entitled to expect a house when we've worked, sacrificed and saved? I think you need to look up the definition of "entitled". We don't necessarily"deserve" a house more, but we would like to have a family and that's hard in 700 SF. These selfish BBs don't need that space, when they were our age they got what they needed, we as millennials made due with less when we needed less, so it's not as though our expectations are out of line or unreasonable.
What the hell are you going on about? If you've worked, sacrificed and saved, then go buy yourself a freakin' house and quit blaming your problems on everyone else.
I'll gladly sell you my 1200 square foot, 100-year-old brick twin, but I have a feeling it wouldn't be good enough for you.
You're the one that needs to look up "entitled", btw ...
Quote:
Originally Posted by jaynarie
Do you know what the interest rates were in the 80s?
I bought my first house in 1992 - at the age of 33 - and paid 8.75% interest. I thought I was getting a great deal - and I was!
Millenials are the scape goats for the true problems -- BBs.
Millennials didn't cause a recession. It happened around the time the oldest were graduating college.
Millennials didn't cause the housing market crash.
We just had to deal with it, and all the while being berated and belittled by holier than thou BBs who keep shirking blame onto our shoulders.
I'm not a baby Boomer.
Neither is Simon Sinek.
I don't think any of what you typed is said in the video clip, nor have I said it.
What the hell are you going on about? If you've worked, sacrificed and saved, then go buy yourself a freakin' house and quit blaming your problems on everyone else.
I'll gladly sell you my 1200 square foot, 100-year-old brick twin, but I have a feeling it wouldn't be good enough for you.
You're the one that needs to look up "entitled", btw ...
I bought my first house in 1992 - at the age of 33 - and paid 8.75% interest. I thought I was getting a great deal - and I was!
There's very low inventory right now. That's what this whole thread is about. Try to keep up with the conversation before jumping in.
The thing is... it is no one else's place to question whether she needs 3000 sq. ft. or not. She paid for it so she gets it.
You get to do that for yourself as well, just not in the way you most prefer right now. Work around it, like others have had to do.
You're the one that said I should be able to raise a child in 700 SF. So I guess it's your place to say how many SF I need but I can't assess the same thing for others? Ok.
You're the one that said I should be able to raise a child in 700 SF. So I guess it's your place to say how many SF I need but I can't assess the same thing for others? Ok.
Yes, one can raise a child - several, in fact - in 700 sq.ft.
And I never said how many square feet you need. That is a straw man, Abby.
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Nah, instead blame others. 
Keep your contempt. Older generations - including mine and I'm not a boomer - don't give a flying fig about your contempt.
