2 ms·
The article is generalizing a bit, and focusing on just one aspect of boomer housing matters. For example, it's also quite common for baby boomers to hold onto
by spamizbad 7y ago
The article is generalizing a bit, and focusing on just one aspect of boomer housing matters.
For example, it's also quite common for baby boomers to hold onto their existing 3-bedroom homes, and in the process restrict housing supply of what should be affordable, reasonably-sized homes for millennials seeking to put down roots and start a family. I don't think there's anything wrong with this BTW, as it can be quite prudent to do so.
I think people were gambling on baby-boomers moving back to the cities and "downsizing" to a decent 2 or 3 bedroom condominiums. Instead, those units ended up selling to cosmopolitan millennials and Gen-Xers.
- thousandautumns 7y agoI'm not sure millenials or Gen-Xers are any less materially obsessed, I think we just generally have less money to spend on the things Boomers did. It isn't like we aren't spending thousands on tech, clothing, etc. I hesitate to condemn Boomers too harshly for their lifestyle choices given the benefit of hindsight when I'm sure my generation will also be pilloried for the aspects of lifestyle we are living that will later be seen as moronic.