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Baby Boomers not Millennials are to blame for poor housing recovery

Koren

Member
The idea is that, as you get older, you don't need more space and don't want to take care of a large house. Honestly, when I'm older, I'd want to sell my two story for a smaller one story.
Well, that's perfectly fine, but that's their call... If they prefer staying in a larger house, why shouldn't they?

It seems that the issue is rather that there's not enough larger house for everyone, so maybe... adapt the offer and build a couple more? Granted, if you want to stay close to large cities, that's an issue, but the whole system where a handful of large cities gather most of the jobs is per se a big issue.
 
VINDICATED!

How the hell do you blame a generation for not having the same opportunities as the previous and thus being poor?

Hand me my avocado toast!
 
Not angry just saying lol. This your first boomer thread? Cause mofos here shit on them voraciously. Not specific people. An entire generation.
I mean it's the same as Millennials thread but you just took it to a crazy notch from the previous tone of the thread lol


Well, that's perfectly fine, but that's their call... If they prefer staying in a larger house, why shouldn't they?

It seems that the issue is rather that there's not enough larger house for everyone, so maybe... adapt the offer and build a couple more? Granted, if you want to stay close to large cities, that's an issue, but the whole system where a handful of large cities gather most of the jobs is per se a big issue.
But if you read the article they don't want to stay in their big houses so it's not shitting on someone's preference.
 

Timeaisis

Member
I'm all for busting the myth that millennials are killing markets and crap like, but boomers aren't really to blame in this situation, as they haven't really done anything at all in this situation. That's exactly the problem, of course, but it's hardly any generations fault here.

But by all means, let's continue to paint with broad strokes.
 

g11

Member
Forget the poor housing recovery, the fucking housing market crash was caused by Baby Boomers from top to bottom. Passing Gramm-Leach-Bliiley, fudging mortgage ratings, NINJA loans, ARMs without making it clear to the customer, credit default swaps, down to your average upper-middle class Boomer buying up multiple homes to flip them.
 

Koren

Member
But if you read the article they don't want to stay in their big houses so it's not shitting on someone's preference.
Well, unless I've missed something, that's not always what they would like to have, but they haven't found something they like more. So I still think it's an offer problem, not linked to the behaviour of anyone.
 
As a millennial, I only want one child, and a 2 bedroom house tops. It's not about the cost, it's about the excessive space that I don't want to fill with crap. All of my enjoyments don't require holding onto huge swaths of clutter. ,
 

TwoDurans

"Never said I wasn't a hypocrite."
I read somewhere that rich seniors who don't want to move are also hurting areas like Chicago, LA, and SF because they are voting down plans to build apartments which would bring competition and actually drive rent prices down. They're supposedly doing this because they don't want their houses to be near apartments, and don't want apartments blocking their views or something like that.
 

Famassu

Member
Baby Boomers & Gen X are the true worst (still living) generations. Millenials are just trying to live in the world they created & they were raised up to be a part of. BBs & GX are the ones who have fucked up everything that is currently fucked up.
 

EGM1966

Member
Pretty obvious this would start happening given combination of health, lifestyle and cultural trends.

I get it sucks and the impact but it's an obvious situation.
 

Oppo

Member
Baby Boomers & Gen X are the true worst (still living) generations. Millenials are just trying to live in the world they created & they were raised up to be a part of. BBs & GX are the ones who have fucked up everything that is currently fucked up.

Yeah but Gen X pioneered the method of blaming everything on Baby Boomers.

”Do you think we enjoy hearing about your brand-new million-dollar home when we can barely afford to eat Kraft Dinner sandwiches in our own grimy little shoe boxes and we're pushing thirty? A home you won in a genetic lottery, I might add, sheerly by dint of your having been born at the right time in history? You'd last about ten minutes if you were my age these days."
Source: ― Douglas Coupland, Generation X: Tales for an Accelerated Culture
 

ZOONAMI

Junior Member
young buyers eager to upsize?


mother fucker condos are $500k in Toronto on average


most young people can't afford to buy period, let alone upsize.

Exactly this. Article has it wrong about the up size deal. It's that typical starter homes in general are not affordable because demand is far exceeding supply. And good luck buying a lot and building your own as contractors are also pricing their building along with the market and making a fucking killing.
 
We can also thank Baby Boomer bankers and politicians who brought us an economic "recovery" (aka prices going back up through the roof) in everything but incomes and quality jobs.
 

ZOONAMI

Junior Member
I read somewhere that rich seniors who don't want to move are also hurting areas like Chicago, LA, and SF because they are voting down plans to build apartments which would bring competition and actually drive rent prices down. They're supposedly doing this because they don't want their houses to be near apartments, and don't want apartments blocking their views or something like that.

Yes, this is even happening in Minneapolis. Buildings that would typically be apartments are being built as expensive ass condos because residential neighborhoods won't approve building apartments. There is a serious apartment stigma problem in every residential neighborhood in the US.
 

pompidu

Member
It's a combination of millennials having less money and new homes being built and are being sold way over the market. Houses being built now are double the median of current home prices.
 

AP90

Member
The big issue we ran into was trying to find a 3 bedroom 2 to 2.5 bath home that was less than 2000sq ft that would be great family home.

There was plenty of availability for 4+ bedroom homes with 3 or more baths that were far too expensive and not within our ideal budget especially with the principle+taxes/escrow (bought our first home in December 2016).. which would have also meant not being able to put 20% down, so therefore having to pay pmi and getting a worse interest rate. The other homes were too small 2-3 bedroom with 1 to 1.5 bath.

And if you were looking for a ranch1600-2000sq ft with 3 bedrooms, those prices were even more inflated, with bidding back and forth and people making cash offers.

WNY reporting.
 
When will they figure out why their industries are dying. If said people don't have the money, they can't buy what is in their economic structure. Then they bitch when they lose out because they past ways don't pan out.

If your going to short us money in our jobs, then I give no shit.
 
Exactly this. Article has it wrong about the up size deal. It's that typical starter homes in general are not affordable because demand is far exceeding supply. And good luck buying a lot and building your own as contractors are also pricing their building along with the market and making a fucking killing.

That's why I plan on buying a tiny home/trailer to live in while I build my own home. I'll just hire contractors to do the things like roofing that I can't do. Screw paying a premium for things I can do myself.
 

prophetvx

Member
who wants a big fucking house in the suburbs anyway

takes way too long to keep clean
Having the filth surround your property is a much better alternative.

In my 20's I couldn't fathom the thought of not living downtown. Now that I have kids, I wouldn't be able to stand living downtown.
 

Oppo

Member
There was plenty of availability for 4+ bedroom homes with 3 or more baths that were far too expensive and not within our ideal budget especially with the principle+taxes/escrow (bought our first home in December 2016).. which would have also meant not being able to put 20% down, so therefore having to pay pmi and getting a worse interest rate. The other homes were too small 2-3 bedroom with 1 to 1.5 bath.
.

I hear you - but I would point out, young boomers would have taken the smaller house in many cases. I mean have you seen post-WW II (or even Vietnam) bungalows? they're pretty tiny. not that this absolves anything market-wise.

I don't have kids, but we're in a 3 bedroom / 2 bath house now, that's pretty small by exurb standards, and it feels actually a bit too big for me. and yeah too much to clean! I grew up in a 3 bed / 1.5 bath place with my sister and it was totally ok.
 

Erevador

Member
The greatest generation = the greatest.

The baby boomers = the worst.

Generation X = meh.

Millennials = we'll see. Could go either way.
 
I'm having a big house in the suburbs built because I want the room for my family and the best schools are out in the burbs. Lots of people in the same boat.

Having the filth surround your property is a much better alternative.

In my 20's I couldn't fathom the thought of not living downtown. Now that I have kids, I wouldn't be able to stand living downtown.

do kids suck any desire for fun out of people
 

prophetvx

Member
do kids suck any desire for fun out of people

They must. It's tough going hiking, mountain biking, snowboarding and living at a lake where we go kayaking, paddle boarding and ice skating in the winter. The good old days of getting wasted at bars was much better.

Nah, life is just different. I'd rather spend $200-300 on a good night out with my wife, than have 6 shitty nights for the same money.
 
Having the filth surround your property is a much better alternative.

In my 20's I couldn't fathom the thought of not living downtown. Now that I have kids, I wouldn't be able to stand living downtown.

I feel this way, the way GAF is about suburbs makes me feel like a bad person for wanting to live in the suburbs. College was fun while it lasted.

People I know living close to the city center have house issues (just with the age of the house and maybe a little you get what you pay for) and also needs some work on it. But I do like the older house quality you get such as nice details.

It's a tradeoff.

I really dont' spend much time cleaning, just takes longer to vacuum which is pretty easy...
 
Usually if something is horrible, it's the boomers fault. If it's something trivial and something that hanged with technology and time, it's our faults.
 
They must. It's tough going hiking, mountain biking, snowboarding and living at a lake where we go kayaking, paddle boarding and ice skating in the winter. The good old days of getting wasted at bars was much better.

Nah, life is just different. I'd rather $200-300 on a good night out with my wife, than have 6 shitty nights for the same money.

how is having two or three beers while listening to some great fuck fucking live music a shitty night
 
I read somewhere that rich seniors who don't want to move are also hurting areas like Chicago, LA, and SF because they are voting down plans to build apartments which would bring competition and actually drive rent prices down. They're supposedly doing this because they don't want their houses to be near apartments, and don't want apartments blocking their views or something like that.

This is a whole other issue, but yes NIMBYism is awful in SF where housing is incredibly in short supply
 
Coulda seen this coming.

I grew up in a development that started in the 60s/70s. Every year the amount of "old people" houses grew and it seemed less and less neighborhood houses had kids in them.

I always felt like the town would end up a huge retirement community once the boomers retired and so far it seems to be the case. They're having to redistrict a lot of kids to different high schools because they're running out of kids in areas where smaller houses/apartments are rare. And meanwhile the amount of houses with wild unkempt yards likely inhabited by the elderly continues to expand.

This. Same thing with my parents and their neighborhood. They are definitely part of the problem.

It's their fault and they know it.
 

Gitaroo

Member
No incentive to move anywhere, places that were once under develop is now fully developed, probably. Why move out to rural area and suffer the same process of inconvenience again and condo pricing is also shit in most major cities. I can't say I blame any boomers.
 

ElNino

Member
who wants a big fucking house in the suburbs anyway

takes way too long to keep clean
I do. It gives my kids plenty of space, although I wish I had a bigger property. Cleaning is a chore, but that's where a house keeper comes in.

Seriously, in this day and age with so much to keep us occupied, why would we even want all that space? There's too much maintenance required to be worth it.
Well, my wife and I were able to host a party for about 20 people on the weekend (including children) and we were able to do so relatively easily. Our dining table was maxed out around 14, but we have room for 6 more on our peninsula which is across the room so still within talking distance (although we put the kids over there).
 

Neo C.

Member
Some baby boomers are stubborn and ignorant with their houses. A huge house for only two people (or just one person) doesn't make sense economically, it's a waste of space, time and energy.
Downsizing can be an actual upgrade, modern small condos filled with modern (elder friendly) tech could suit elder people better.
 
I saw Metallica last Wednesday... I think I had 4 beers though. Does that count?

i mean being able to go out any night of the week and being able to find some small venue with a great lesser-known band in town just for the week, with 20+ options on weekend nights

just can't do that in the burbs
 

prophetvx

Member
I feel this way, the way GAF is about suburbs makes me feel like a bad person for wanting to live in the suburbs. College was fun while it lasted.

People I know living close to the city center have house issues (just with the age of the house and maybe a little you get what you pay for) and also needs some work on it. But I do like the older house quality you get such as nice details.

It's a tradeoff.

I really dont' spend much time cleaning, just takes longer to vacuum which is pretty easy...
I live in Calgary so our definition of the burbs is probably a little different. My area is about 15 mins to downtown, but no houses look the same, we have a lake and I'm closer to the mountains.

I couldn't care less about living downtown, I still go out once or twice a month and live in an area where I get along great with my neighbours, have block parties all the time and my kids can play in the street, get a good education and enjoy the outdoors. Compared to when I lived downtown for 4 years and didn't even know my next door neighbours name, I know what I prefer.
 
do kids suck any desire for fun out of people

Caring about your kids going to good schools is more important than "fun".

But back to the topic at hand, the problem is a lot more complicated than boomers just t staying in place. Back during the recession a lot of builders went belly up and the small time builders that survived often did so by the skin of their teeth. I saw plenty of neighborhoods that were left as shells because the homes were worth less than what a builder could sell them for. So now the builders that are left are gouging customers to try and make up for that lost revenue and since builders usually make about 20% on a home it makes more sense to only build high end homes with huge profit margins than small affordable homes. So there is almost no inventory for new families and people looking to downsize.
 

prophetvx

Member
i mean being able to go out any night of the week and being able to find some small venue with a great lesser-known band in town just for the week, with 20+ options on weekend nights

just can't do that in the burbs

Yeah, you tend not to give a shit about that once you hit your mid 30's. I've seen probably 500+ bands in my lifetime. I'd rather go to a nice restaurant or cocktail bar every now and again, and spend my weekends hiking, mountain biking or snowboarding.

I'd rather take 15-20 minutes to get somewhere I want to go than live in a cesspool 24/7.
 
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