Housing Bubble 2: Return of the Ugly

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A community for discussing and documenting the second great housing bubble.

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SeattleRain

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

submitted 2 months ago by SeattleRain to c/housing_bubble_2

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[–] SeattleRain -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.

[–] kitnaht 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.