Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Give it a few years. There should be plenty to choose from. Climate change will make everywhere warmer. Raised ocean levels will make new coastal areas where now there's none
You are correct, in about 10 - 15 years older boomers will start dying off in large numbers and there will be more homes and apartments than people to fill them and as a result housing prices will plumet and demographs will shift as working class families can afford to move into middleclass neighborhoods and the middleclass families will move into what is now upper middleclass areas. though there will be a glut of homes being converted into duplexes, triplexes and quadplexes from so many people being upside down on their homes when the prices drop, which means even more available housing for the masses.
A huge chunk of the GenX and older millennial population will end up being landlords lol
Older boomers now in their mid to late 70s have been dying off already for a while. In 15 years they will almost be extinct.
The boomer generation is spread out over almost 20 years, so whatever happens it will happen gradually. They all aren't going to die suddenly in the span of 2-5 years flooding the market with homes. There isn't going to be a large glut of homes on the market all at once, although that seems to be wishful thinking on some people's part.
Last edited by marino760; 03-10-2024 at 10:23 AM..
I like the cold, too. Some of the happiest days of my life were on that frozen lake in rural Ontario. Few people around. Unrelenting beauty in a white world.
I enjoy a vacation with a beach and warm water, but not to stay permanently.
Me too. And even the idea of owning a second home on a beach leaves me uninspired. I prefer exploring new places, so visiting a new beach every year for a few weeks to months would be ideal. Places change over time, and not for the better most of the time. The costs and risks of owning coastal property are too high.
Give it a few years. There should be plenty to choose from. Climate change will make everywhere warmer. Raised ocean levels will make new coastal areas where now there's none
And current coastal properties will be victims of repeated flooding in many places. The reclamation of a pristine coast after sea level rise occurs will be very costly and ugly for a while. Just think about those south Florida high-rises when their lower floors are flooded and undermined by tides and storms.
Why anyone else would want to live in the coastal regions is beyond me. There are hurricanes every year. Plus in Florida there are too many lunatic citizens and in government. I think the heat gets to them.
Please continue stating your opinion, no one seems to be listening.
Me too. And even the idea of owning a second home on a beach leaves me uninspired. I prefer exploring new places, so visiting a new beach every year for a few weeks to months would be ideal. Places change over time, and not for the better most of the time. The costs and risks of owning coastal property are too high.
Definitely. When I moved from north Jersey to the shore area in 2010, I rented in a beach town and wanted to buy a condo there. However, the only ones in my price range were converted apartments with shared laundry, etc. I settled for a condo in a townhouse complex about six miles inland.
As you can imagine, a little more than two years later, October 29, 2012, to be precise, I was SO glad I was not in one of the shore towns when Sandy came calling. I am good with the 15-minute drive to the beach and zero worry about flooding.
Once upon a time, before Neil Armstrong walked on the moon, the family built a beach house on developing Hilton Head Island, bought the lot of $5K and built the house for 25K. It was a family house of many generations and was constructed for those arriving for a week or a month would have to do very little maintenance so they could enjoy their time at the beach.
At first, there was hardly a single luxury. Oh there was light and motorcar but no telephone. If someone wanted to get a hold of us, they called the land office and a messenger was sent out. At first, being at the far end of the island, it took us an hour to get there once on the island, driving through old Hilton Head. Grocery shopping was basic, we made grand expeditions to the commissary or maybe Savannah, and the tourist stores were at the Hilton Head Inn.
Over time, there were various improvements such as a telephone, and limited cable TV. Aircraft from the Beaufort Air Stations would fly low over the beaches to see the women topless. Development continued with places for tourists to go such as Harbor Town and shopping centers next to the Inn. Wally World found its way in, movie theatres, even an Outlet Mall. In the 80s or so, a bypass was installed, cutting the arrival time from an hour to merely minutes.
McMansions moved in, houses with island kitchens and their own swimming pools. Eventually, it had to happen.....and it did. We returned to the house in the early 90s and at the end of the walkway, there was NO.....a sign listing all the things one could no longer do on the beach. My Mother when she saw that felt like someone had taken her beach away from her.
As people and money rolled in, taxes went up....A LOT! The tax collector saw every house as a McMansion and taxed it as such. We were paying $18K, as I recall when I took over those matters, for a very simple house.
When the house became that of us children, in inheritance, we sold it. We sold it for many reasons. It was no longer the place that we had spent vacations at, where we caught crabs in lagoons and prepped them up for dinner as a family. We sold it because the taxes and rules were outrageous and getting worse. We sold it for we needed the money, it did produce a lot of money, from the sale for our own lives. I sold it because unlike my Brothers, getting to the east coast was very hard for me to do so and if kept, I would hardly ever see it and yet be paying costly taxes on it.
Moral of the story is, if you are going to go coastal, get in while it is cheap and undeveloped, even unknown, and..........................................die before it changes.
EDIT: By the way, getting beach property without FEMA flood insurance is INCREDIBLY STUPID! ....... and I paid around $900 this year for my flood insurance on the ranch. It's a massive yearly bill.....but necessary.
Last edited by TamaraSavannah; 03-10-2024 at 07:00 PM..
Older boomers now in their mid to late 70s have been dying off already for a while. In 15 years they will almost be extinct.
The boomer generation is spread out over almost 20 years, so whatever happens it will happen gradually. They all aren't going to die suddenly in the span of 2-5 years flooding the market with homes. There isn't going to be a large glut of homes on the market all at once, although that seems to be wishful thinking on some people's part.
I never said it would be overnight lol I said within 10 - 15 years, right now they are still the 2nd largest demograph even almost with a little over a third of their numbers on the other side of the river Styx in the last 20 years and like you just said "In 15 years they will almost be extinct". so in the time it takes to go from diapers to puberty there will be a huge drop in the population and all the homes and apartments left behind will still be here and for every 100 boomers that head off to undiscovered country there are only 15 or so genX'rs to take their place so there will be at least a decade and some change of good times which will cause another babyboom then back to the same old same old.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
