Zaraki_Kenpachi
Member
In a shocking turn of events, millennials aren't to blame for something in the world. Enjoy your avocado toast my friends, it was the Baby Boomers fault we can't afford houses all along!
More at link:
https://www.cnbc.com/2017/08/21/housing-recovery-suffers-but-dont-blame-the-millennials.html
Competition for housing is soaring, affordability is weakening and the U.S. housing recovery is grinding to a crawl and, in large part, the baby boom generation is to blame.
No, they're not doing anything immoral or illegal; in fact, they're not doing anything at all, and that is precisely the problem. They're not moving.
Baby boomers, the enormous group born between 1946 and 1964, are staying in their big suburban homes far longer than previous generations did at this age, and that is having repercussions down the housing supply line. If baby boomers don't downsize out of big suburban homes, younger buyers eager to upsize, especially in this improving economy, can't find a home to buy.
More at link:
https://www.cnbc.com/2017/08/21/housing-recovery-suffers-but-dont-blame-the-millennials.html