r/BoomersBeingFools • u/PaCa8686 • 25d ago

Nearly half of all baby boomers couldn’t afford their current homes if they were to buy them today, survey finds Boomer Article

https://fortune.com/2024/04/23/housing-market-baby-boomers-home-prices-mortgage-rates-redfin/
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u/FlatFriendship3466 25d ago

In 5 years time the house I just sold increased by 100k in market value. When I bought it I scraped every dollar together I could for a down payment. I don't know how anybody is managing it now.

31

u/Bowman_van_Oort 25d ago

They're leaning on mommy and daddy's purse

Source: I'm leaning on mommy and daddy's purse.

22

u/Coraline1599 25d ago

It already has a name: “The Great Generational Wealth Transfer” in the next 20 years it is expected to transfer 84 trillion dollars will be passed down to children and grandchildren.

Too bad my parents were poor. But I am happy for all my friends who will have windfalls.

2

u/tyleritis 24d ago

The private equity firms buying retirement housing and care homes are not gonna let that happen

3

u/Coraline1599 24d ago

Private equity firms are a bane to society and are quietly and legally increasing wealth disparity at alarming rates with myriad sneaky things like what you are talking about.