Buying a family-sized home with three or more bedrooms used to be manageable for young people with children. But with home prices climbing faster than wages, mortgage rates still close to 23-year highs and a shortage of homes nationwide, many Millennials with kids can’t afford it. And Gen Z adults with kids? Even harder.
Meanwhile, Baby Boomers are staying in their larger homes for longer, preferring to age in place and stay active in a neighborhood that’s familiar to them. And even if they sold, where would they go? There is a shortage of smaller homes in those neighborhoods.
As a result, empty-nest Baby Boomers own 28% of large homes — and Milliennials with kids own just 14%, according to a Redfin analysis released Tuesday. Gen Z families own just 0.3% of homes with three bedrooms or more.
Idgaf about the boomers who want to grow old in the homes they bought. Thats their right as a homeowner. I care about the airbnbs, unskilled flippers, and the corps trying to turn America into a “renters market”
yeah kinda feels like the corporations trying to push a bogeyman to distract us.
No, just a writer with nothing to write about. This article is seriously summed up as “omg people are choosing to live in the homes they bought, wtf??!”
There are so many “boomer bad”, “genx vs millenniall”, “zoomers are lazy” stories lately. Seems like they got tired of just pitting races against each other and moved onto fake generational conflict. This way we don’t notice what the billionaires are doing to all of us. Meanwhile the 5 richest billionaires doubled their net worth.
These fuckers too - price hiking people out of rentals is a policy. The encourage evictions instead of negotiation. it’s fucked.
https://www.businessinsider.com/real-estate-apartment-rent-price-setting-landlords-realpage-lawsuit-illegal-2023-11