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Agreed! Baby boomers didn't buy the big homes that GenX did. My mom (a boomer) has been in her 900 sq ft condo for 20 years now with no plans on moving! This is also the generation that stays put for the most part. There will always be retirees that will move to warmer states, but I really don't think we will see a big shift in real estate by the boomers until they start to pass away and their families need to sell the properties.
My boomer parents live in 800sqft.
The McMansions were catered to GenX, but a few GenXers don't like them.
Right now it's definitely a seller's market because there isn't enough inventory. Is this because the boomers are staying put? Eventually they might downsize or e eventually pass away. Will this improve conditions for buyers?
Baby Boomers can't downsize because Millennials are still living there.
Public school enrollment declined during the 1970s
and early 1980s and rose in the latter part of the 1980s.
Enrollment continued to increase throughout the 1990s
and early 2000s. By school year 1997–98, public school
enrollment had reached 46.1 million students and had
surpassed its early 1970s peak. Between 2000–01 and
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school year 2006–07 where it remained until 2008–09.
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What I am pointing out is that the number of children are steadily increasing and have surpassed the boomers. Of course most of the babies born are non-white so our demographics will change.
Right now it's definitely a seller's market because there isn't enough inventory. Is this because the boomers are staying put? Eventually they might downsize or e eventually pass away. Will this improve conditions for buyers?
Haha - people were mad because the Boomers were selfish and bought everything up and now they'll get a bad name when they dump it. It's true that the prior generation is blamed for everything by the younger....and the older generation blames the younger - just depends on what side of the fence you're on.
Right now it's definitely a seller's market because there isn't enough inventory. Is this because the boomers are staying put? Eventually they might downsize or e eventually pass away. Will this improve conditions for buyers?
Many baby boomers stay put and retire at home. Many baby boomers move to a new place. They have been moving for years. The Baby Boomer generation doesn't cover a 5 year span of folks. It's about a 20 year span. Also not everyone retires when they hit 65. I know plenty of folks who keep working well into their 70's and 80's.
I don't see how baby boomers will really an impact on the market as a whole. Sure in some areas, they might...they might drive prices up! I wouldn't expect huge price decreases because a group of 70 year olds move to condos.
Ranges vary with every source, but Baby Boomers are early/mid 40s-early 60s. Some sources cut at 1960, some as late as 1964.
So, the majority of Baby Boomers were buying their first homes in the 60s and 70s.
Houses didn't start growing until the 80s, coincidentally about the same time the first of the GenXers began entering the market.
Quote:
Originally Posted by Sharpydove
Most BBs would not have been buying houses in the 60's or even most of the 70's. I didn't even graduate high school until the 80's as the youngest Boomer.
This, is the baby boomers I know and....love? It's x and y amongst themselves, but failing to find consensus, I'm to answer both as they believe.
There is one area of agreement however. No matter what, the Gen X is wrong. It was those late 60's babies that pushed up the housing prices in the early 80's...because that's what happens. People graduate from high school in smaller numbers and start pushing the demand curve around. Especially slackers that won't work and have no ambitions....they get the money.
Sorry, this whole post is GenX sarcasm. Just chill. But do know, we didn't start the fire. It was always burning, just the world's been turning.
This, is the baby boomers I know and....love? It's x and y amongst themselves, but failing to find consensus, I'm to answer both as they believe.
There is one area of agreement however. No matter what, the Gen X is wrong. It was those late 60's babies that pushed up the housing prices in the early 80's...because that's what happens. People graduate from high school in smaller numbers and start pushing the demand curve around. Especially slackers that won't work and have no ambitions....they get the money.
Sorry, this whole post is GenX sarcasm. Just chill. But do know, we didn't start the fire. It was always burning, just the world's been turning.
Your post has absolutely nothing to do with my reply. And how could 15-year olds be pushing up home prices? You did say late 60's babies pushed up housing prices in the early 80's.
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Especially slackers that won't work and have no ambitions....they get the money.
