3 ms·

But those millennials don't have bags of money. So you would just sell to some foreign investor or domestic wealthy person who probably already owns dozens of p

But those millennials don't have bags of money. So you would just sell to some foreign investor or domestic wealthy person who probably already owns dozens of properties. "If you gave me a bag of money, I wouldn't sell" shouldn't be taken literally. If you offered 10 million dollars for 1 million dollar property I'm sure many of those baby boomers would sell.

lmm 9y ago
> "If you gave me a bag of money, I wouldn't sell" shouldn't be taken literally. If you offered 10 million dollars for 1 million dollar property I'm sure many of those baby boomers would sell. The context seems to imply something deeper than that, a complete non-interest in selling: > “Give me $2 million,” the homeowner replies. “I don’t want no low number.” > It turns out the price is for the whole block. Even then, the potential seller has second thoughts. > “I wouldn’t sell even if you gave me $2 million — this is my retirement,” he says. “If you gave me a bag of money, I wouldn’t sell.”
- richardknop 9y ago
  What if he values his property at more than $2 million? So he said "I wouldn’t sell even if you gave me $2 million" because he was insulted by low ball offer of 200k.
  - lmm 9y ago
    > What if he values his property at more than $2 million? Then surely he'd've said so - he could've said "no, 3 million". Instead he says his price is 2 million, then decides he wouldn't sell even for that. There's something else going on there.
    - richardknop 9y ago
      Maybe. But what if the something else is he just likes his house and doesn't want to sell. He has enough money to cover his retired lifestyle cost and he enjoys living in his house. There's nothing wrong with that. In free market you are free not to sell your property even if somebody offers you 100x it's market value. Nobody can force you to sell if you want to keep it. And besides the millennial guy from the article couldn't afford $2 million anyways (he wants to spend 200k) so that question was pointless anyways because even if the old person said yes he doesn't have the cash.

lmm 9y ago

> "If you gave me a bag of money, I wouldn't sell" shouldn't be taken literally. If you offered 10 million dollars for 1 million dollar property I'm sure many of those baby boomers would sell. The context seems to imply something deeper than that, a complete non-interest in selling: > “Give me $2 million,” the homeowner replies. “I don’t want no low number.” > It turns out the price is for the whole block. Even then, the potential seller has second thoughts. > “I wouldn’t sell even if you gave me $2 million — this is my retirement,” he says. “If you gave me a bag of money, I wouldn’t sell.”

richardknop 9y ago
What if he values his property at more than $2 million? So he said "I wouldn’t sell even if you gave me $2 million" because he was insulted by low ball offer of 200k.
- lmm 9y ago
  > What if he values his property at more than $2 million? Then surely he'd've said so - he could've said "no, 3 million". Instead he says his price is 2 million, then decides he wouldn't sell even for that. There's something else going on there.
  - richardknop 9y ago
    Maybe. But what if the something else is he just likes his house and doesn't want to sell. He has enough money to cover his retired lifestyle cost and he enjoys living in his house. There's nothing wrong with that. In free market you are free not to sell your property even if somebody offers you 100x it's market value. Nobody can force you to sell if you want to keep it. And besides the millennial guy from the article couldn't afford $2 million anyways (he wants to spend 200k) so that question was pointless anyways because even if the old person said yes he doesn't have the cash.