Housing Bubble 2: Return of the Ugly

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Baby boomers aren't downsizing, and it's straining the housing market (www.kjzz.org)

submitted 2 months ago by [email protected] to c/[email protected]

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[–] [email protected] 57 points 2 months ago* (last edited 2 months ago) (7 children)

The only group we should be blaming is Wall Street predators who have made billions "investing"(1) in private housing, and that group of people is made up of people of all age groups.

Stop falling for the divisionist propaganda these people put design to keep the fighting within the lower class. If you understood just how much of this country a very small group of entities owned, you'd realize that the problem isn't Cathy and William Hareman, both aged 75, who have decided they don't want to navigate the real estate market at this point in their lives. It's Wall Street, always has been, always will be.

Investment implies risk; there is no risk involved in holding human needs for ransom. A small pool of sociopaths have gamed the system to do something no person with a conscience would consider acceptable to add zeros to a number on a computer screen.

[–] [email protected] -4 points 2 months ago (2 children)

Nah, we can blame the Boomers too. Their greed fuels this housing crisis.

[–] [email protected] 23 points 2 months ago* (last edited 2 months ago) (1 children)

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

[–] [email protected] -5 points 2 months ago* (last edited 2 months ago) (1 children)

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.

[–] [email protected] 12 points 2 months ago* (last edited 2 months ago)

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.

[–] [email protected] 9 points 2 months ago

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.

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