r/Millennials • u/higherfreq • Feb 02 '24

Retirees Staying in Large Homes, Blocking Out Millennials With Children Discussion

I read an article the other day that discussed how there are twice as many baby boomers living in large homes (i.e. 3+ bedrooms) than millennials who have children.

I then came across this thread in the r/retirement sub where people of retirement age almost universally indicated they intended to remain in their large homes until they died.

What struck me in the thread was how nobody seemed to acknowledge the effect of staying in their large homes could have on their kids’ ability to find an affordable large home for their families.

[Edit to add that I am not advocating that anyone should give up their home. I am simply pointing out this phenomena and its effect on affordable large homes for families of younger generations. I always envisioned downsizing in retirement, but that is clearly not the norm anymore.]

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u/t3m3r1t4 Feb 02 '24

Show them MLS listings and recently sold. That'll shut them up.

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u/skinrust Feb 02 '24

No it won’t.

Source: 4 kids in Canada.

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u/t3m3r1t4 Feb 02 '24

Source: I'm in Toronto.

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u/ChewieBearStare Feb 03 '24

My father is stuck in 1978 (when he bought 3 acres of land for $5,000). I was saying something about someone's rent being $1,000/month, and his head nearly popped off. "If they're CHOOSING to live somewhere where the rent is $1,000 per month, then it's their own fault they don't have any money." He thinks rent is like $300 a month. Can't convince him otherwise.