4 ms·
Millenials are probably waiting for their parents to pass away, and then inherit their property. It's the path with least resistance.
by drefanzor 9y ago
Millenials are probably waiting for their parents to pass away, and then inherit their property. It's the path with least resistance.
- remarkEon 9y agoI qualify as a Millenial and I don’t know a single person who’s planning on doing this. I rent right now in a major city but am looking to buy, maybe, in the next few years. For my peer group anyway that’s the norm. What I do find as one of the major drivers of increased housing costs are actually Boomers (aka my parents generation) engaging in a nasty kind of NIMBYism - a sort of “I got mine” mentality. My fear is that we’re building in a lot of tail risk into our cities by behaving this way and not building. There’s all sorts of absurd zoning rules all over the country. Things won’t change until there’s another collapse.
- phil21 9y agoThey would collectively be in really bad shape if that is the case. I don't think the average boomer is leaving much in terms of an estate behind. I expect a whole lot of HELOC and reverse mortgaging going on in the next 10-20 years as the severe lack of retirement savings of that generation comes into focus.