4 ms·

It'll make housing even more expensive in 10 years as builders will be decimated like in 2008, we won't build housing for half a decade, and a new generation wi

It'll make housing even more expensive in 10 years as builders will be decimated like in 2008, we won't build housing for half a decade, and a new generation will look for housing while boomers sit on their 80% vacant 4bd houses they paid 1/5 of the current market price for.

lazide 4y ago
In another 10 years most of the boomers will be dead.
- kortilla 4y ago
  That’s not how life expectancy works.
  - killjoywashere 4y ago
    You're arguing that those who survived this long will survive more than 10 years. I mean, yes, but 1) food in this economy is still delicious so heart disease is still the cause of 50% of deaths, and 2) humans only have one copy of p53 from each parent, so everyone dies of cancer if Heart disease or <random> doesn't get them first. Given 1 and 2, the boomers are on their way out. My mom (born 1953) might make it another 20 years, but my dad (born 1945) is living on borrowed time (20 pk-yr history and cancer).
  - lazide 4y ago
    It is how actuarial tables work. Baby boomers in 2032 will be between 68 and 86 years old, and mortality increases rapidly up to and including those years. [https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1464018/ https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1464018/]
- robocat 4y ago
  Wrong. 71 million alive in 2019 of 76 million born[0]. If the oldest boomer is 76 now, their life expectancy is over 10 years[1]. Most boomers have more years life expectancy than that i.e. most boomers will live longer than 10 years. And in a couple one will live longer, perhaps not releasing a house. Aside: most people mentioning “boomers” normally are saying something offensive - similar to making inane stereotypical comments about disabled people as an example. The term is very American-centric, and in my country the word mostly is used offensively. We mostly don’t know what gen__ means either. Edit: 25% of boomers don’t own a home. Today, white millennials are almost three times as likely as Black millennials to own their homes. If you are white, then every time you make a comment about a group that has it better off than you, lookout behind you. Goes double for complaints about the wealthy if you live in the US: you are the wealthy from the point of view of most people in the world. Disclaimer: I am not a boomer. [0] https://en.wikipedia.org/wiki/Baby_boomers https://en.wikipedia.org/wiki/Baby_boomers [1] https://www.ssa.gov/oact/STATS/table4c6.html https://www.ssa.gov/oact/STATS/table4c6.html
at-fates-hands 4y ago
>> It'll make housing even more expensive in 10 years as builders will be decimated like in 2008, we won't build housing for half a decade This is already happening in the Midwest. Builders have stalled or trying to wait out this supply side shortage - the prices of all building materials have skyrocketed because of it and just in an adjacent neighborhood where they had torn down three houses, the lots are all vacant now and for sale. Builders who had planned to build huge mansions all pulled out and are now just selling the lots. This has also had a ripple effect on down the amount of houses up for sale. My wife and I decided not to move and have remodeled our entire main floor and are now working on the bathrooms. We're staying put. I heard on a weekend real estate show they were saying two months ago, that out of the 15,000 houses/condo's/townhomes available, when you start to filter out townhomes and condos, then take out all the million dollar and above houses? You're left with less than 200 single and multi-family homes on the market. An absolute staggering number. A lot of people on both sides are trying to wait this out. But like you said, its going to have some serious long-term consequences for everybody.

lazide 4y ago

In another 10 years most of the boomers will be dead.

kortilla 4y ago
That’s not how life expectancy works.
- killjoywashere 4y ago
  You're arguing that those who survived this long will survive more than 10 years. I mean, yes, but 1) food in this economy is still delicious so heart disease is still the cause of 50% of deaths, and 2) humans only have one copy of p53 from each parent, so everyone dies of cancer if Heart disease or <random> doesn't get them first. Given 1 and 2, the boomers are on their way out. My mom (born 1953) might make it another 20 years, but my dad (born 1945) is living on borrowed time (20 pk-yr history and cancer).
- lazide 4y ago
  It is how actuarial tables work. Baby boomers in 2032 will be between 68 and 86 years old, and mortality increases rapidly up to and including those years. [https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1464018/ https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1464018/]
robocat 4y ago
Wrong. 71 million alive in 2019 of 76 million born[0]. If the oldest boomer is 76 now, their life expectancy is over 10 years[1]. Most boomers have more years life expectancy than that i.e. most boomers will live longer than 10 years. And in a couple one will live longer, perhaps not releasing a house. Aside: most people mentioning “boomers” normally are saying something offensive - similar to making inane stereotypical comments about disabled people as an example. The term is very American-centric, and in my country the word mostly is used offensively. We mostly don’t know what gen__ means either. Edit: 25% of boomers don’t own a home. Today, white millennials are almost three times as likely as Black millennials to own their homes. If you are white, then every time you make a comment about a group that has it better off than you, lookout behind you. Goes double for complaints about the wealthy if you live in the US: you are the wealthy from the point of view of most people in the world. Disclaimer: I am not a boomer. [0] https://en.wikipedia.org/wiki/Baby_boomers https://en.wikipedia.org/wiki/Baby_boomers [1] https://www.ssa.gov/oact/STATS/table4c6.html https://www.ssa.gov/oact/STATS/table4c6.html

at-fates-hands 4y ago

>> It'll make housing even more expensive in 10 years as builders will be decimated like in 2008, we won't build housing for half a decade This is already happening in the Midwest. Builders have stalled or trying to wait out this supply side shortage - the prices of all building materials have skyrocketed because of it and just in an adjacent neighborhood where they had torn down three houses, the lots are all vacant now and for sale. Builders who had planned to build huge mansions all pulled out and are now just selling the lots. This has also had a ripple effect on down the amount of houses up for sale. My wife and I decided not to move and have remodeled our entire main floor and are now working on the bathrooms. We're staying put. I heard on a weekend real estate show they were saying two months ago, that out of the 15,000 houses/condo's/townhomes available, when you start to filter out townhomes and condos, then take out all the million dollar and above houses? You're left with less than 200 single and multi-family homes on the market. An absolute staggering number. A lot of people on both sides are trying to wait this out. But like you said, its going to have some serious long-term consequences for everybody.