3 ms·
Millennials Have the Children, but Boomers Have the Houses
- Ginger-Pickles 3y agohttps://archive.ph/qTMty https://archive.ph/qTMty
- deleted 3y ago[deleted]
- postalrat 3y agoBuild houses not clouds
- zhengiszen 3y agoThe game is rigged
- mindslight 3y agoAnd Facebook has the answer: "It's just like the flu"
- FooBarBizBazz 3y agohttps://en.m.wikipedia.org/wiki/Saturn_Devouring_His_Son https://en.m.wikipedia.org/wiki/Saturn_Devouring_His_Son
- mensetmanusman 3y agoin ten years there will be so many extra houses...
- devwastaken 3y agoThe costs of treating diseases prevalent in old age often results in the loss of the home after they pass. This is because after a certain age if you get down to socialized healthcare, your home and assets are used to pay it back. State takes it. Even if it's private, either the insurance or the clinic will take it eventually.
- raincom 3y agoSpecial trusts like this [1] can save ones' assets. [1] https://www.sjslawpc.com/practice-areas/what-is-a-medicaid-asset-protection-trust-mapt/ https://www.sjslawpc.com/practice-areas/what-is-a-medicaid-a...
- mindslight 3y agoWidespread Medicaid estate planning would require boomers to confront their own mortality, so that's unlikely. Really it's going to be more like a lottery of those who are "lucky" enough to have their parents die without using long term care, reverse mortgages, squabbling siblings, etc. Most of those lifetimes of accumulation are just headed to the bankers' grindstone, as per the Faustian bargain that created all that on-paper "wealth" in the 80's and 90's. The houses themselves will for the most part exist - flippers have become adept at putting new builder-grade beige lipstick on the pigs. But they will most likely be corporate rentals, and businesses have become quite proficient at deniable price fixing through the use of software. So even if there is an ultimate lack of demand, I don't expect that the move the needle much.
- simojo 3y agoNot a surprise that it's most prevalent in the rust belt.
- rayrey 3y agoSighs in Gen X
- seanmcdirmid 3y agoWe will be known as the invisible generation soon enough.
- deleted 3y ago[deleted]