So I was listening yesterday and the reported says something like… Young people have a hard time getting a mortgage because the older generation has low mortgage rates…blah blah…but now they’re all loosing jobs, getting sick etc so “that will unlock housing or mortgages” something annoying like that.
Well yeah. It happens every generation. Until I suppose nobody can make enough money to rent either much less have a mortgage. I much rather hear about mortgage rates coming down after another happy CEO event. Yeah fucking unlock that shit please!
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Yes, each generation dies off and passes its wealth to the next. But the boomers are an unusual case because they hold a lot more wealth relative to their size. Boomers and millennials each account for about 20% of the US population. But boomers hold 50% of the wealth in America, while millennials only hold 8%. The wealth transfer as the boomer generation dies off is going to be massive. And most of that Boomer wealth is tied up in real estate, which will have a big impact on the housing market when it becomes available.
https://www.statista.com/statistics/296974/us-population-share-by-generation/
(Gen X is somewhere in the middle and I’m skipping over them, as is tradition. They wouldn’t want it any other way.)
Edit: meant Gen X, not Gen Z.
The wealth transfer isn’t going to happen. Its being eaten by elder care and medical industries, and any other predatory businesses that want a slice of the pie.
Don’t forget reverse mortgages for the real estate slice of the pie.
In reality nothing will meaningfully improve until the rich fear for their lives
I wouldn’t call NPR a reliable source
I was going to downvote you for not really backing up what you said. But maybe you could explain yourself? You could also provide a link to any sources of your data.
You should do your own research. NPR is like many other news outlets in the sense that they prioritize the clickbait style stuff. I don’t like how these media outlets are constantly acting like the world is ending. To be fair the industry has pushed them in that direction but that doesn’t make it right.
Why?
They make more money the harder and longer you are engaged. Better to do your own research.
