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Old 10-01-2017, 09:04 PM
 
418 posts, read 366,253 times
Reputation: 187

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Quote:
Originally Posted by BoBromhal View Post
they had financial security. Their housing cost was fairly fixed, allowing them budget well and invest what they chose. If all the could afford was the mortgage (plus taxes and insurance), then they likely would have paid over time about the same amount in rent. And at the end they wouldn't have had a valuable asset to pass to their heirs.
So you're saying people should buy homes for their successors? That's fine, I just don't see people generally enjoying the "equity" it seems so important for most people to build.
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Old 10-01-2017, 09:13 PM
 
418 posts, read 366,253 times
Reputation: 187
Quote:
Originally Posted by Piney Creek View Post
LOL in the last month I've heard the same thing from a few different people. I never would have guessed, but maybe upsizing is more common than I would have guessed for retirees.
I get it, with grand kids, spouses, offspring, siblings coming to visit, etc. And in some cases (the European influence), extended families living together. I don't care, as long as there's some movement in the market! Go ahead "move on up" to 5000 SF, I'll gladly buy your 2000 SF "starter home". 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
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Old 10-01-2017, 10:54 PM
 
1,532 posts, read 1,055,806 times
Reputation: 5207
Quote:
Originally Posted by Abby Schmitters View Post
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. Without children, we've so far lived quite contently in 420-700 SF apartments. I don't expect you to leave on our account, but just thought I'd explain where the contempt between generations comes from. Carry on.
I don’t understand this. They are greedy for having a home they like and enjoy? That they have worked and paid for? And you have contempt for them because of it?
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Old 10-02-2017, 06:09 AM
 
8,228 posts, read 14,186,965 times
Reputation: 11233
Well I'm feeling like a grump boomer. Not quite ready for a condo and can't find a small house I like. So many houses today are so huge I can't imagine anyone wanting one. Well maybe if you didn't like your family.
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Old 10-02-2017, 06:41 AM
 
1,251 posts, read 1,074,482 times
Reputation: 2315
Quote:
Originally Posted by Abby Schmitters View Post
All I know is both my parents were BB and I believe MIL barely missed the cut off, and I consider them all pretty old people, retired empty nesters who could downsize. They all fit that profile. However, PP are right. They seem to not be. Still, while many--even most-- BB decline to ever downsize, because it's the generation of excess numbers, there should still be more that do than previous generations. Ex: if 30% of retired empty nesters downsize, that number will be greater than previous generations as there's more BB. Whether or not it'll be enough to impact the market in the northeast, I don't know. (Assuming down sizing implies moving to a condo in Fla or what ever.) That's what this discussion is meant to cover.
You consider them all pretty old people? Even those of us who barely made the cut-off as you say?? Honey, I'm 54 and if you think that's "old", just wait! You will turn around and be there yourself, if you are lucky!
Retired at 54?? Hahaha you are crazy! My husband is in his second career and I work full-time. Haye to burst your delusional bubble.
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Old 10-02-2017, 01:02 PM
 
801 posts, read 612,333 times
Reputation: 2537
Quote:
Originally Posted by Abby Schmitters View Post
Whose to blame for the fact that so many millennials have arrested development?

A) Baby boomers who raised their kids with clipped wings? Because they were divorcees who relied on their kids for emotional support or any other reason an unhealthy attachment developed?

B) Unlivable wages coupled with sky high cost of living?

C) Lack of inventory?

Or are you just going to pretend like millennials don't want a life of their own?
You forgot:

D) Unbridled entitlement, wherein the only thing holding a Millennial back is himself, despite the attempt at blameshifting.
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Old 10-02-2017, 07:51 PM
 
418 posts, read 366,253 times
Reputation: 187
Quote:
Originally Posted by Sharpydove View Post
You consider them all pretty old people? Even those of us who barely made the cut-off as you say?? Honey, I'm 54 and if you think that's "old", just wait! You will turn around and be there yourself, if you are lucky!
Retired at 54?? Hahaha you are crazy! My husband is in his second career and I work full-time. Haye to burst your delusional bubble.
You misunderstood me / jumped to a conclusion. I meant MIL is about a year too *old* to be a BB.
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Old 10-02-2017, 07:59 PM
 
418 posts, read 366,253 times
Reputation: 187
Quote:
Originally Posted by LieslMet View Post
You forgot:

D) Unbridled entitlement, wherein the only thing holding a Millennial back is himself, despite the attempt at blameshifting.
Ha. Yeah right. I just told you my husband and I lived in 420 SF for 3 years and just upgraded to 700 SF for the past year. Scroll up to see the definition of entitled -- a woman talking about her 3000 SF, no gym membership for her, she has a room devoted just to that and blah blah blah. Someone else, not millennials, busted up the housing market. My parents and inlaws all got gifted down payments on homes several decades ago from their parents, and while it's anecdotal, neither side are paying that kindness forward. Both my inlaws and parents are living in giant houses they don't need while husb and I scrimped and saved with stagnant wages and high cost of living to get a down payment together all on our own. Only trouble now is there's no inventory because you BBs can't fathom living in less than 3000 SF. Unbridled entitlement indeed.
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Old 10-02-2017, 08:51 PM
 
Location: Back in the Mitten. Formerly NC
3,830 posts, read 6,710,879 times
Reputation: 5367
Quote:
Originally Posted by Abby Schmitters View Post
Ha. Yeah right. I just told you my husband and I lived in 420 SF for 3 years and just upgraded to 700 SF for the past year. Scroll up to see the definition of entitled -- a woman talking about her 3000 SF, no gym membership for her, she has a room devoted just to that and blah blah blah. Someone else, not millennials, busted up the housing market. My parents and inlaws all got gifted down payments on homes several decades ago from their parents, and while it's anecdotal, neither side are paying that kindness forward. Both my inlaws and parents are living in giant houses they don't need while husb and I scrimped and saved with stagnant wages and high cost of living to get a down payment together all on our own. Only trouble now is there's no inventory because you BBs can't fathom living in less than 3000 SF. Unbridled entitlement indeed.
I think you need to look up the definition of entitled....

So because you've worked, sacrificed, and saved money, you deserve a house and someone who has worked and saved their whole life no longer deserves a house because it is too big for them and you deserve it more. Uh-huh.

Choices:
1. Move to a cheaper area with more inventory
2. Wait and quit whining
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Old 10-03-2017, 07:07 AM
 
418 posts, read 366,253 times
Reputation: 187
Quote:
Originally Posted by jaynarie View Post
I think you need to look up the definition of entitled....

So because you've worked, sacrificed, and saved money, you deserve a house and someone who has worked and saved their whole life no longer deserves a house because it is too big for them and you deserve it more. Uh-huh.

Choices:
1. Move to a cheaper area with more inventory
2. Wait and quit whining
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. It's all part of what has made it a challenging generation to be a part of. Not that you care... that's my point.

As for your laughable suggestions-- that just confirms you're not in the real world. Adults with jobs can't just "move to a cheaper area." That would make them adults without jobs. NYC area is particularly specialized. Most jobs here aren't elsewhere. As for waiting, I'm told housing prices will continue to soar. That's likely what I'll do, and then it'll just be all the more apparent that millennials accomplished way more goals with far greater adversity than BBs.
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