Buying a family-sized home with three or more bedrooms used to be manageable for young people with children. But with home prices climbing faster than wages, mortgage rates still close to 23-year highs and a shortage of homes nationwide, many Millennials with kids can’t afford it. And Gen Z adults with kids? Even harder.
Meanwhile, Baby Boomers are staying in their larger homes for longer, preferring to age in place and stay active in a neighborhood that’s familiar to them. And even if they sold, where would they go? There is a shortage of smaller homes in those neighborhoods.
As a result, empty-nest Baby Boomers own 28% of large homes — and Milliennials with kids own just 14%, according to a Redfin analysis released Tuesday. Gen Z families own just 0.3% of homes with three bedrooms or more.
“Shortage of homes” created by a parasitic class of people and corporations who gobble up all the available homes
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Baby boomers aren’t, but capitalists are.
They’re the ones who gobble up all available real estate to manipulate everyone else with for their own benefit.
I assume that was Karashta’s intent, not Baby boomers as you deflected to.
The plan was that they sell their home and downsize into an easier to maintain condo.
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It existed 15 years ago, when millennials were starting to move out of their parents’ home.
They can go rent the places everyone else is currently forced to because of their generational bullshit.
It ain’t the boomers doing that. It’s the corporations.
And who runs those corporations?
Rich out of touch assholes ranging from Boomers, Gen X and millennials?