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Most Americans (67% of adults) are already homeowners. https://policyadvice.net/insurance/insights/home-ownership-statistics/ https://policyadvice.net/insuranc

Most Americans (67% of adults) are already homeowners. https://policyadvice.net/insurance/insights/home-ownership-statistics/ https://policyadvice.net/insurance/insights/home-ownership-s... The title would be more accurate as “For most Americans who don’t yet own, owning a home is a distant dream”.

throw8383833jj 4y ago
in other words, the next generation is totally screwed.
- 8note 4y ago
  American are aging. When the boomers start dying, many of the younger generations will start inheriting houses
  - hammock 4y ago
    Not with reverse mortgages. Many of the baby boomers I know are looking to spend as much money as they can while they’re alive.
    - coward123 4y ago
      Reverse mortgages don't prevent death. In my market, we have a lot of people of advanced age, and when they are gone entire neighborhoods will suddenly be available. From what I can tell, this is true in a surprising number of areas around the country.
      - sombremesa 4y ago
        > Reverse mortgages don't prevent death Except in this case: https://www.chicagotribune.com/news/ct-xpm-1995-12-27-9512280029-story.html https://www.chicagotribune.com/news/ct-xpm-1995-12-27-951228...
      - hammock 4y ago
        They don't prevent death, they sell your house bit by bit back to the bank, until there is nothing left to inherit. And the trend these days is for financial institutions to hold housing stock as rental properties, not to put it on the market.
      - nly 4y ago
        A reverse or lifetime mortgage means there's a reduced inheritance for the next generation. It's also a steady process meaning there's no sudden surge in supply.
    - nly 4y ago
      "Equity release" here in the UK is how many people in my parents generation are funding their retirements.
  - np- 4y ago
    While true, there are far more young people than old people dying at least in the US: https://www.census.gov/newsroom/blogs/random-samplings/2016/06/americas-age-profile-told-through-population-pyramids.html https://www.census.gov/newsroom/blogs/random-samplings/2016/...), and in general there have never before been as many humans on earth.

throw8383833jj 4y ago

in other words, the next generation is totally screwed.

8note 4y ago
American are aging. When the boomers start dying, many of the younger generations will start inheriting houses
- hammock 4y ago
  Not with reverse mortgages. Many of the baby boomers I know are looking to spend as much money as they can while they’re alive.
  - coward123 4y ago
    Reverse mortgages don't prevent death. In my market, we have a lot of people of advanced age, and when they are gone entire neighborhoods will suddenly be available. From what I can tell, this is true in a surprising number of areas around the country.
    - sombremesa 4y ago
      > Reverse mortgages don't prevent death Except in this case: https://www.chicagotribune.com/news/ct-xpm-1995-12-27-9512280029-story.html https://www.chicagotribune.com/news/ct-xpm-1995-12-27-951228...
    - hammock 4y ago
      They don't prevent death, they sell your house bit by bit back to the bank, until there is nothing left to inherit. And the trend these days is for financial institutions to hold housing stock as rental properties, not to put it on the market.
    - nly 4y ago
      A reverse or lifetime mortgage means there's a reduced inheritance for the next generation. It's also a steady process meaning there's no sudden surge in supply.
  - nly 4y ago
    "Equity release" here in the UK is how many people in my parents generation are funding their retirements.
- np- 4y ago
  While true, there are far more young people than old people dying at least in the US: https://www.census.gov/newsroom/blogs/random-samplings/2016/06/americas-age-profile-told-through-population-pyramids.html https://www.census.gov/newsroom/blogs/random-samplings/2016/...), and in general there have never before been as many humans on earth.