I keep subtly encouraging my mom to consider moving soon. After my dad passed, she is pretty stuck in her ways to not leave her house. I think in a few years, she'll be more open to the idea. The house is more than she'll ever need now. 4 bedrooms, huge yard, big basement....doesnt need all that. But I dont want to push her to any drastic changes just yet. Shes still extremely mobile and enjoys that freedom.
Millennials Aren't Having Kids.-Why That's A Problem For Baby Boomer Real Estate
- Thread starter Yaj Yak
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I keep subtly encouraging my mom to consider moving soon. After my dad passed, she is pretty stuck in her ways to not leave her house. I think in a few years, she'll be more open to the idea. The house is more than she'll ever need now. 4 bedrooms, huge yard, big basement....doesnt need all that. But I dont want to push her to any drastic changes just yet. Shes still extremely mobile and enjoys that freedom.
This is a scary thought, and frankly I think the article is missing the bigger picture. There are huge macroeconomic consequences to the slowing birth rate, housing prices would be the least of my concerns. If you're banking on $250k equity in your house for your retirement, and find out it's only worth $200k, that better not be a deal breaker. The PV of social security, 401k, and/or your pension better be MUCH higher than that if you're retiring.
First the article says that baby boomer's homes aren't worth what they expected, then it says that "most boomers bought their homes in the 80's and 90's". Yet housing prices have outpaced inflation since the mid-late 90's. Even in 2011, at the bottom of the market, average home values were still higher than they were in 1995 after adjusting for inflation.
Needless to say I don't feel bad for baby boomers...maybe they should have recognized the risks behind pensions 40 years ago, or taught their kids that student loan debt is not a good thing.
They had kids young because the dad could work 40 hr workweek with no degree, and still live a middle class lifestyle with a stay-at-home wife and child.
I don't think the decision is between kids or money.
Just going by what the article said...did not intend that to be pointed directly at any specific millennial without kids. I have family (millennials) that simply can't seem to get pregnant, regardless of spending 10's of thousands on pregnancy treatments and wanting children.
This is a scary thought, and frankly I think the article is missing the bigger picture. There are huge macroeconomic consequences to the slowing birth rate, housing prices would be the least of my concerns. If you're banking on $250k equity in your house for your retirement, and find out it's only worth $200k, that better not be a deal breaker. The PV of social security, 401k, and/or your pension better be MUCH higher than that if you're retiring.
First the article says that baby boomer's homes aren't worth what they expected, then it says that "most boomers bought their homes in the 80's and 90's". Yet housing prices have outpaced inflation since the mid-late 90's. Even in 2011, at the bottom of the market, average home values were still higher than they were in 1995 after adjusting for inflation.
Needless to say I don't feel bad for baby boomers...maybe they should have recognized the risks behind pensions 40 years ago, or taught their kids that student loan debt is not a good thing.
They had kids young because the dad could work 40 hr workweek with no degree, and still live a middle class lifestyle with a stay-at-home wife and child.
can you find something along the lines of baby boomers median housing values?
I'm not googling the right shit apparently.
Supporting increased SS dependents with a smaller workforce
- Same concern for pensioned baby boomers
Supporting increase medicare enrollment/costs with a smaller workforce, and frequently lower inflation-adjusted wages
Slowing consumer spending which is correlated to the decreased birth rate, which has an impact on the economy
Those are just a few. Japan has been wrestling with this for 20 years
DINK crew checking in. I'm fixed so no kids unless we inherit someone else's.
2 bed 1 bath, 1176 sq ft and no basement so we knew it from the beginning.... Not moving either.
I don't get into kids, I usually just step on or run them over because they are below my field of vision.
PS, not a millenial... I identify with the Oregon Trail Generation
https://socialmediaweek.org/blog/2015/04/oregon-trail-generation/
2 bed 1 bath, 1176 sq ft and no basement so we knew it from the beginning.... Not moving either.
I don't get into kids, I usually just step on or run them over because they are below my field of vision.
PS, not a millenial... I identify with the Oregon Trail Generation
https://socialmediaweek.org/blog/2015/04/oregon-trail-generation/
my parents are both committed to moving they are just taking their time.... i dont think time is on their side. Their house has been outdated since the 90s, its going to take time to sell to the right buyer as-is. I just want them to be able to get as much as possible while they can.
Needless to say I don't feel bad for baby boomers...maybe they should have recognized the risks behind pensions 40 years ago, or taught their kids that student loan debt is not a good thing.
They had kids young because the dad could work 40 hr workweek with no degree, and still live a middle class lifestyle with a stay-at-home wife and child.
I disagree with a few things here, boomers didn't realize the risks of pensions 40 years ago because it was working for their elders.
Past that, I don't think boomers knew to teach kids that student loan debt was bad, because the boomers grew up in a time where most of them did not have college degrees, and their children having a degree, was essential at all costs... they didn't realize colleges would be butt fucking their children into oblivion out of nowhere.
Finally, I do think you're right about the dad 40 hours, mom stay at home thing, but definitely not the whole picture. I think it was also societal/moral pressure.... only up until very recently, was having children outside of being married, socially acceptable.
In the same situation. Fiance and I are 33, and no plans for kids. We are definitely looking at upgrading to a larger house with a larger yard. It's a 3 bedroom, but only 1.5 bath, and the living room is tiny and really unusable. Dog needs more room to run too, the yard isn't large. It's all going to depend on my fiance though...I know she's not super happy at the firm she's at, but she's also making good money and they are allowing her to work from home, which is really rare in her field of law. The firm is in the loop, and her commute, when she does have to go in, is really long. So we're thinking Elmhurst area...closer to the city, but not IN the city, and still have the ability to get a sizeable yard. But we're realistically a couple years from that because of the wedding...Hoping the market doesn't tank between now and then
I follow.
Slower consumer spending can also be tossed on millenials shoulders I'd say, as they/we, are playing the financial game of life, with much less risk than our/their parents.
I plan on buying a tanker truck of grey and white paint
Yes!!
Fuckin snowflake. I identify that you're a retard
I plan on buying a tanker truck of grey and white paint
Yes!!
Fuckin snowflake. I identify that you're a retard
Typical Millenial
Thats the respect I expect.
Thanks KJ
Elmhurst is solid, look in the Oakbrook area too. I personally just like being near a major highway, but far enough away from the city to work/play there.
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