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Scare mongering or accurate prediction of the future? Who even knows. The fact is, house prices are only high if there are people willing to buy them. Rents are
by Thorentis 7y ago
Scare mongering or accurate prediction of the future? Who even knows. The fact is, house prices are only high if there are people willing to buy them. Rents are only high if there are people able to pay them. Retirement funds are only valuable if the shares behind them are valuable.
If a Recession hits and Millennials are as screwed as this article says they are will be, then that flow on effect will also mean the assets Boomers hold will drop in value drastically. And the Boomers in power right now don't want that to happen.
- pontifier 7y agoNot true. Home prices can stay high even without many people buying because it's fairly easy to just let a place you owe no money on stay vacant until someone comes along and pays what you think it's worth. If you have an extra house you can take your time. If you have no house, you don't have that luxury. You have to take what you can get, right now, or be homeless. You're at the mercy of the sellers of housing. I say this as a seller of housing: It's totally messed up.