Baby Boomers Are Causing the Housing Crisis? Why Boomers are STILL Buying Houses.

Baby Boomers are still buying houses in greater numbers than their age cohort historically. GenX are also buying houses in large numbers, making it harder for Millennials and GexZ to buy homes since prices have been driven up.

Boomers are still creating new households through divorce and are also buying second homes and vacation homes in large numbers.

[rwdchannel]

I live in Ventura, California. I found out 2 Baby Boomers in my neighborhood who own $1.2 million dollar houses each, also own a condo about 3 miles away from their house. They're living in the condo while they do repairs to their house. Meanwhile, Millennials can't find a room to rent in the city because of all the Airbnb and expensive condos. What's annoying is the Boomers back in the 1990's had a "Save The Hills" campaign where they protested more housing being built in the hills because they wanted to keep things looking natural.

[PAULROBERTS]

Being in banking we are seeing in Las Vegas a record number of baby boomers cashing in equity to pay bills or being used as income . Inflation starting to show in 2023 here .

[amandasan]

If my boomer parent bought their house in 1970, at an average price of about $50k, that house is now selling at about $500k. It did not take 1970 boomers 30 years to pay $55k. This generation is priced out. That simple. I bought my home for $300k in 30 years, at the same rate as the 1970 home purchase, my home would be $2.5M. Nothing majorly differed about the house tho.

I say this bc I’m tired of boomers calling the millennials and generation XYZ lazy. We are not lazy. We are price out and have had stagnant wages, war, pandemic, catastrophes upon catastrophes.

Never mind the burden is higher. Tech not available to boomers are now standard and EXPENSIVE! I think u get where I’m going and long comments are annoying 😊

[davidw]

Todd is complex, he's a formal Marine Officer :)

[jelm]

I am a boomer and you have more gray hair than me 🤣

[capitalismisdivisionofevil]

1. We need livable wages of $33/Hour AND up as the foundation of dignity. This must rise by 3% faster than inflation!
2. We need affordable housing of $450/Month for single apartments of no less than 800 SQ FT to live in dignity ( fixed rate for life)
3. We need affordable raw land of $500 to $3, 000/Acre ( 1 to 20 acre lots with no HOAs or restrictions ) accessible to the poor to buy! We need affordable tiny structurally durable homes that can be built under $50, 000 without bank loans and thier debt traps! NO property taxes 🍞🍞🍞

[brianyoung]

baby boomers are not causing rhe housind crisis. I purchased a home for 1.5M December 2021 and I paid 100K over asking because a corporation wanted it because it was on a gulf course. It is 2100 sq ft, Question why are we still buying houses, When i started working I was paid $1.25 per hour. I was working 3 jobs to pay the mortage and put food on the table. Are you saying I don't deserve to buy a house that i worked so hard for.

[anniealexander]

The oldest boomers are 77. Isn't the average death age 78?

Most people don't want to be a landlord. Most don't want to move into Grandma's house. Boomers kids are old too. It's grandkids that might want a free house but how are all 5 grandkids moving in?

[falsificationism]

😂😂 the comments section on this one 🫠

Genuinely novel takes from Todd and Oana too! Fascinating trend.