Boomers Own Half of U S Wealth So Why Are We Seeing More Homeless Boomers

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[gioiapharo]

I am a younger boomer ….. we own our home …… We did not trade out houses every few years ……. we are looking for a retirement home …… we would literally have to buy a house smaller for almost as much as we would sell ……. My Generation - LIVED THROUGH 7 RECESSIONS - We Learned early on How To Navigate The Lows

I would not buy a newer home …… our house was built in 1907 ……. I want a 1970’s or older home …….These houses keep getting swept up by investors and turned into rentals

We figured out how we can stay in our house

[hollyyetman]

They don’t want most people to understand economics. Not understanding it keeps everyone in debt 💸

[lynne]

They don't teach finance in school for a reason. Or anything of value or importance. Then you would know how to play the game, and we can't have that.

[Kevin]

My grandparents got a house in 1971 and the mortgage was $92.

[davidpristupa]

My social security has 2.5 more buying power in Bogota Colombia. As a single person I can rent a tiny studio for $275. Health care is good priced food and transportation affordable.

[yvobalcer]

I am a boomer and homes in the 1970s were $10, 000 to $15, 000. We did not have to compete for housing even for apartments because the country took illegal immigration seriously. The border was secured then. Today, everyone is competing for housing against illegal and legal immigrants. Also, the US was still manufacturing much of their own goods, so low-income people could afford housing.

[Zahadume]

Investers are buying 1/5th or 19% of all available houses on the market and turning them into a Air Bnb or renting them out. They own 10, 000-100, 000 homes a piece!! It has to stop houses are not stocks or bonds corperations shouldnt be able to own single family homes!

[DocLampLighter]

According this vid, I'm a young Boomer. I've thought maybe Gen X. One older Boomer once told me, "Bud, you were born at the wrong time. You're screwed."

[Eli_The_Bard]

My old man bought his house for 3 bubblegums and a button.

[Crowski]

I’m a millennial. I’d love to own a small home but I can’t afford it.
700 sq ft house in my area is $300k…

[sanniepstein]

If you have a large house/mansion, you are probably in a neighborhood that forbids any sharing, such as making apartments or renting out rooms. To heck with the environment or people's needs.

People are forbidden to build. Think of the miles of single story houses in San Francisco that cannot be replaced. Just 2 more stories would make a difference. The tiny house movement, on the other hand, is deemed too eccentric to be allowed in many places.

Uncontrolled invasions certainly stress the housing stock as well.


A great deal of this is thanks to government/bureaucracy's actions. Now they'll come up with more tyranny to correct it.

[NuNugirl]

My oldest 39 & daughter in law 35 bought my house 3 years ago. I downsized into a small condo and moved to a less expensive area, far from my grandchild. Like everywhere, that area is rapidly getting more expensive, so I am strictly budgeting. I can easily pay off 3 cards, but use the zero % interest to build up my modest long term investments. My biggest worries are future medical bills and another major economic downturn. I can’t get wiped out……again! It took me over ten years to dig myself out of deep hole. At 65, I’m too old to do that again.

[em]

Explain how older homeowners exacerbate the housing market.

[freefuel]

There is a formula for calculating profit of new home construction, the builders realize they have to build bugger as the cost of the land increases. another factor is the lenders squeezing them.

[cathyburrows]

Because some of these rich boomers took from some poor boomers assets. Some of poor boomer are caregivers for their parents and kids.

[mkhudn]

America’s biggest domestic product is financial packages. It’s a big circle jerk of obfuscation. Money is supposed to be simple. Economy is wrecked.

[joeyellis]

How is a boomer deciding to hold on to a house they bought free and clear a problem? The real problem is that there is too many people not leaving the nests! By that I mean the towns they grew up in. It's over populating areas that don't have room for five up and coming generations to set up camp in. Move the hell away!

[cathybrown]

I am a boomer, i went to work at 16 years old. My dad drilled into my head save, save and save. I worked until I was 67 years old. I bought land. I think the difference is my parents were raised during the depression, dad was in WW2, we were taught to work hard. No participation awards.

[Crow-lk]

I'm 70 I was born in 1954 I'm 1 of those boomers. I've taken nothing from nobody, I've had no special privileges handed to me. Because of my marital status (single) Uncle Sam and the good governor of N.C. seen it proper for me to pay more then 1/3 of my wages every year in taxes. Me being a OTR driver, between the Feds and N.C. they loved me for sure between the 2 they'd hit me for 15 to 20 grand a year, then give me a couple grand back, pat me on the head and say (Good lil Citizen) thank you

[Kevin]

The boomers in my family definitely arent rich.