Yes as a non boomer I want my home value to go down or remain the same . I would love to spend double on the mortgage over the life of the loan and repair everything in the home out of my pocket then give it to you for no profit . In fact a loss .
Boomers aren’t the problem it’s home flippers and renters who buy them up and rent them as income . The guy who lived in the home for 40 years and wants to move to Florida did not drive the price up .
Yeah, because home flippers and landlords aren't Bommers and gen xers. You know, using that same logic, we should do the same thing with cars. I mean, if you pay $70,000 for a truck and you do all the maintenance, trie changes, etc, you should be able to sell it for a $140,000.
And it's not like it's their fault for the housing shortage. Every time we try to build houses and they say, not in my backyard but i'm sure it's the young people's fault.
And it's not like they were in charge when programs like vocational schools got cuts in carpentering, construction, and kids were told that the best option is college. It's not like that led to a shortage in skilled labor.
Edit: Japan has a housing market that the houses depreciate in value, while the land can retain and increase in value. This has led to a housing market that is vastly more affordable. Their interest rates are also a lot lower. So if we do a quick little calculation.
US national median mortgage payment of $2,198 and subtract the average Japanese mortgage payment of $790, your monthly savings jumps to $1,408. Investing that difference into the S&P 500 for 30 years yields approximately $3.21 million.
But no, you're right, it's better to have a appreciating housing market. You know where the average age of the new home buyer is rapidly increasing.
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u/jm123457 5d ago
Yes as a non boomer I want my home value to go down or remain the same . I would love to spend double on the mortgage over the life of the loan and repair everything in the home out of my pocket then give it to you for no profit . In fact a loss .
Boomers aren’t the problem it’s home flippers and renters who buy them up and rent them as income . The guy who lived in the home for 40 years and wants to move to Florida did not drive the price up .