this post was submitted on 26 Aug 2024
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Housing Bubble 2: Return of the Ugly
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Nah, we can blame the Boomers too. Their greed fuels this housing crisis.
Where's the greed in not wanting to deal with a stressful move and stay in the home you've been in for (probably) decades and have either paid off or have a great interest rate on? That's just logic. You'd do the exact same.
The "housing crisis" is fueled entirely Wall Street. Stop blaming single-home owners who have the exact same thing you want too
They own the majority of the homes even though we have 3 generation that are of age that precede them. They voted in policies that subsidized landlords and kept young families renting. Even now they're doing nothing to mitigate this new issue they're causing other than using their tremendous economic power to protect themselves at the expense of everyone else.
I know this is just anecdotal, but I know dozens of my generation that have had to move back in with their parents -- If their parents had downsized, they wouldn't have that opportunity. Stop painting them as evil for wanting to stay in their home. It's misguided at best. Their houses are just as much a security for them, as well as their descendants. That's what "generational wealth" is.
I dont think we can blame boomers for not wanting to move in a terrible market while old as fuck.
I mean, you can blame them for being a part of why the market is so shitty, but that blame doesn’t land evenly or entirely.