OK Boomer, Who’s Going to Buy Your 21 Million Homes?

[murray t turtle]

Actually at today's price (in SoCal, NYC SF...), ownership doesn't make financial sense, rental return on capital also doesn't make financial sense.

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Thats why some buy out + commute......................................................................

 

[Specterx]

So half of you say rental property is immoral and we're creating a generation of serfs with no prospect of ever buying property, the other half says U.S. housing prices are going to crash by half.

I guess it's encouraging that you can't both be right.

 

[murray t turtle]

Yes and if the can afford to hold till a sufficiently interested buyer shows up... That's what I saw happening in my search. For one they don't actually list all the houses for sale to keep supply low. I saw so many places that had been on the market for more than six months.

This to me seems more like what will happen with boomer homes.

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IN west + mid TN; RE priced to sell,sells in 3-6 months, more or less, Nooby.
i sold some property in 30 day,[MLS multiple list property] most likely had it accidently priced to cheap, but i gave my word LOL. FSBO[ for sale by owner ]almost always priced to hi , seldom looked at that junk.

Volkswagon put in a TN plant and REALTY sellers went berserk to upside ; not many buyers went berserk some did.LOL,

 

[murray t turtle]

So half of you say rental property is immoral and we're creating a generation of serfs with no prospect of ever buying property, the other half says U.S. housing prices are going to crash by half.

I guess it's encouraging that you can't both be right.

%% Ok;
dont forget the 3rd + 4th choice. Good idea to rent until you find a right distance from mother in law.LOL [4th]Rental can be wise while building.Most home owners dont care about trends; they simply like building equity/ Re gains + hate rent reciepts.,

 

[ironchef]

Boomers selling. Declining demographic. The only population growth is in low-middle income Hispanics.

Plus those crazy rich Asians.

 

[ironchef]

%% Ok;
dont forget the 3rd + 4th choice. Good idea to rent until you find a right distance from mother in law.LOL

I am not sure there is a right distance from her.

 

[ironchef]

%%
Thats why some buy out + commute......................................................................

You are telling me. Once upon a time in my younger days I was crazy enough to commute to NYC to work, every week. I lasted only 6 months.

 

[Cuddles]

So half of you say rental property is immoral and we're creating a generation of serfs with no prospect of ever buying property, the other half says U.S. housing prices are going to crash by half.

I guess it's encouraging that you can't both be right.

Or both could be right? It wouldn't be the first time an industry prices themselves out of existence by asking more than the market is willing to pay, hoping to make up for diminishing demand.

 

[murray t turtle]

I am not sure there is a right distance from her.

%%
I NEVER did like the REALTY ad with a ''mother in law home'' on same property LOL...……………………..…………………………………………………………………………………………..

 

[Windlesham1]

Saw this article elsewhere, the answer is they don't need to sell. They will either reverse mortgage and the bank will take possession at the end, or they will rent out and downsize. They are generally sitting on 100-200% gains, there is no overwhelming need to sell.

Couple of well-to-do fucks passed away in my neighborhood recently, the children decided rather than selling, they'd rent it out. Some poor schmuck now has to pay $5K/month in rent to some children who didn't do anything to earn the home.

Which reminds me, my area is becoming primarily renters now. Time to get out. Good thing I bought my house 20 years ago eh.

I think inheritance is a crock -and maybe 50% should go back to the state-in the UK we have so many subsidies, like health it'd be good for people to pay something back, and the kids can go have a tantrum