Blaming BOOMERS For The Home Affordability Crisis

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Many have been blaming Baby Boomers for the current housing market being in disarray, with national prices surging by 50% during the pandemic and mortgage rates spiking from under 3% to over 7.5% as the Federal Reserve raised interest rates. The housing supply is severely restricted due to affordability issues, with homeowners reluctant to give up their 3% mortgages. Housing affordability is now at its worst point in decades, and solutions are difficult. Economists at Barclays blame the baby boomer generation, citing their substantial numbers and the fact that they crowd out the affordable housing supply once their children leave home. Although baby boomers have substantial home equity and aren't as affected by high mortgage rates, other factors contribute to the housing crisis, such as the need for increased housing construction, the aftermath of the 2008 financial crisis, the pandemic's impact on housing prices, and the demographics of millennials entering the housing market. The housing market's woes are complex, and it may take time for the situation to improve for younger generations.
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14 июн 2024

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Комментарии : 317

@TheIxxplonxei 6 месяцев назад

There needs to be a restriction on companies like Black Rock. These companies are taking up inventory and making the housing crises worse because they won’t sell a house. Interest rates are horrible when you qualify. My husband and I qualified and turned it down because I mortgage was quoted to be 2900. No one can afford that while having student loans and kids.

@alexrunzel6532 6 месяцев назад

If "they" can turn us all against each other, then we are too busy blaming to realize we are ALL being ripped off. :(

@Barf-so3qy 5 месяцев назад

“They” are the boomers.

@cfoster6804 9 дней назад

Exactly

@acs5928 6 месяцев назад

Wages have not kept pace with inflation.....this one thing is a huge issue.

@JK-mp1mg 6 месяцев назад

And the boomers were the bulk of the voting block that kept wages from rising because they were already established in their careers. To say she's misrepresenting the argument is incredibly charitable.

@thistlemoon1 6 месяцев назад

@@JK-mp1mgshe's not misrepresenting anything. WHY would you think baby boomers kept wages from rising?

@brianbeecher3084 4 месяца назад

@@thistlemoon1ironic since during their youth they so loudly crusaded for more social Justice. Guess you can say they turned their back on themselves.

@rd24life Месяц назад

@@JK-mp1mgagreed, Boomers made out and they left the youth with a hellish reality. It is nasty and horrible

@TheGreekPytheus 6 месяцев назад

Institutional investors are definitely a huge part of the problem.

@desiv1170 6 месяцев назад

They are definitely part of the problem. And it could get MUCH worse, so something has to be done.... But the scary part is that they aren't a huge part of the problem yet... Now, I don't mean they aren't always a huge part of the problem. They can be in specific areas... But currently, institutional investors are a tiny percentage of home owners... They are targeting a few specific areas right now. But as successful as this is for them, unless something is done, it will be a huge problem for everyone before too long... She does mention it, but focuses on those specific areas being problematic... And they are... But they are still a small percentage... It's problematic now. But its going to be a huge problem as (not if) it continues...

@TheGreekPytheus 6 месяцев назад

@@desiv1170 How much do they need to purchase in any particular area to impact price? I'd bet they can remain a slowly growing percentage and still have an outsized impact.

@desiv1170 6 месяцев назад

@@TheGreekPytheusAgreed. And as I said, I am not saying it isn't a problem. What concerns me is that it is a small percentage now and will only get worse...

@cranberryeater7459 6 месяцев назад

60% of SFR homes that were bought in the last 3 years were by corporate investors who own 1-10 homes. Retirement chasers are the ones to blame.

@desiv1170 6 месяцев назад

@@cranberryeater7459 One could argue the buying less than 10 homes isn't corporate, but small business. Still can be an issue, but not really corporate.

@MaseRhea 6 месяцев назад

My granny paid $300 rent for 20 years and THEN inherited a house from her sister. No mortgage and the property taxes were paid for 2 years. Talk about lucky.

@deebrown7160 6 месяцев назад

Maybe you'll get it next. How old is Granny?

@MaseRhea 6 месяцев назад

@@deebrown7160 Nah my mom is next lol but she's 70.

@susanpage8315 6 месяцев назад

She is very lucky. Her situation is unusual.

@Barf-so3qy 5 месяцев назад

Not really lucky. That’s just normal for one generation because they ripped off the next.

@wildcard9724 4 месяца назад

Be careful what you wish for!

@thewishingthorn 6 месяцев назад

There are so many baby boomers that have only social security to live on. In Connecticut the taxes on homes are so high they equal another mortgage payment. So even if your home is paid off, it doesn't mean living is cheap! As medical and cost of living rise, many are forced out of their home. It is a shame, and then to see such headlines just makes me sick to my stomach.

@brockreynolds870 6 месяцев назад

Anyone over 65 in CT that has income below 49,000 a year for a married couple, and 40,000 a year for a single persong get a property tax credit of up to 1,250$, depending on income level.

@thetapheonix 6 месяцев назад

Why does no one ask why they only have social security to live off of? It's poor planning, they wanted their money in the moment when they should have been savings and investing. Just like Boomers tell everyone else.

@JakoWako 6 месяцев назад

Perhaps they should pull themselves up by their bootstraps and stop buying TV Dinners

@shannondavis5728 6 месяцев назад

The home prices & apartments being overpriced is a understatement!!!!…corporate investors don’t care because their simply looking @ profit margins or returns!!!

@brewcrew5854 5 месяцев назад

Look up westfield NJ parents paid 20k for colonial 3 br in 1970 old basic house backyard not half a pickle ball court sold 16 years ago for 500k now probably worth 700k The valuations will never remotely reflect that appreciation in 20 years this was a one shot deal either u were a " member of the club" or u watched the gravy train pull out of station while u sat on the platform

@annstillwell730 6 месяцев назад

4 years ago I was renting an apartment at $745 a month. Two bedrooms. That same apartment is not $1700....in 4 years. That's crazy. Now you can't get a decent 1 bedroom or Studio or under $900. Then if you have pets they sucker punch you their too with pet rent. I have a 3 bedroom house which is 1k a month

@TheMortgageXpert 6 месяцев назад

I wanna live where you do. I 1 bedroom in my neighborhood is $1800 minimum.

@Royalewithcheesee 5 месяцев назад

The one bedroom I lived in 6 years ago was 1300 it’s is now 2400. The apartments are over 30 years old. The 4 bedroom house I rent now built in 2018 is 2900.

@wolfpacva 6 месяцев назад

When my parents built their house in central NJ (1960's) they spent around $15,000 and they wondered how they could afford their mortgage of $75 a month.

@eleonorabartoli2225 6 месяцев назад

Greed just seem to be the problem everywhere: I have worked as a CNA in nursing homes for thirty years and the pay has always been just a couple of dollars above the minimum wage. While CNAs do 90% or more of the work and take care of 10 to 20+ residents each, the home charges 10K+ a month, at least until you run out of money. And, I would never, ever, give anybody my property in exchange for the promise of care: such a conflict of interest! Sounds like the next big scam to me!

@deebrown7160 6 месяцев назад

Some people have no kids and have no choice but to give up the house. They have no one to bury them.

@eleonorabartoli2225 6 месяцев назад

@@deebrown7160 That is me. You always have a choice if you own your home: you can have home care or trade rent for help.

@sophieartmusic 6 месяцев назад

My dad had dementia, it cost 8,000 a month to have stay in those senior home with memory care. It’s NO JOKE!!!!!! U better put everything in a trust !!! And that cost 15-20k to set up!!!

@fern8580 6 месяцев назад

Like 80% of boomers I am in love with Kristina...She is so magnetic, everything she touches becomes interesting.

@livinginnorthernaz 6 месяцев назад

Home prices expensive because of short term rentals and investors like Blackrock

@brianbeecher3084 4 месяца назад

It’s all so barbaric to me.

@qb4428 3 месяца назад

No, it's because of zoning. Restricting the supply of housing means prices go up. Not complicated.

@rasyahdi 6 месяцев назад

One overlooked contributor which I thought would have been mentioned is the Zestimate. Zillow could not flip houses for itself and make a profit but kept showing inflated property values which people took as gospel accelerating the values and leading to FOMO.

@mdizzylizzy2u 6 месяцев назад

SHAMELESS GREED! Period. 🤬🤬🤬

@brs293 6 месяцев назад

Manipulated the market they did.

@brianbeecher3084 4 месяца назад

@@brs293how long till that creed of greed catches up with them, much like it now has for the likes of Trump.

@ciscoventura 4 месяца назад

People can’t admit corporations should not be allowed to buy and sell homes

@cpborrelli 6 месяцев назад

The 2008 housing crash caused by irresponsible lending caused the loss of half of our builders. Those that survived have been cautious of building too much. We have never caught up since then. Plus we have a labor shortage in construction

@brianbeecher3084 4 месяца назад

That’s because everyone was brainwashed into going into high finance and technology, aka the STEM sectors.

@southernsweettea3478 6 месяцев назад

Not Boomers but BLACKSTREET yes we just sit here and watch them do it.

@oleeshanorris5343 6 месяцев назад

Institutional investors are majority to blame....

@mwatercress 6 месяцев назад

In my area ( Northern California) developers are saying that even if the land was free, they can't build market-rate multi-family rentals with a rate of return that would qualify for financing. It isn't all about the real estate.

@mwatercress 6 месяцев назад

Permits and impact fees can be $100K.

@mwatercress 6 месяцев назад

Some of our problems are related to land use and zoning rules that make it very difficult to add new inventory to the market.

@Summerdee223 6 месяцев назад

I am convinced that the state of CA wants to drive out all business owners, and companies. Every single new anti-buisness rule and regulation that is passed (multiple new ones coming to CA employers in 2024!!) just reinforce this misguided mindset to drive out business.

@brianbeecher3084 4 месяца назад

@@mwatercressI’ll drink to this one.

@brianbeecher3084 4 месяца назад

Don’t you then wonder why such businesses as restaurants and hotels are still thriving, albeit with a few pandemic related hiccups? Many actually refer to it as the PLAN-Demic.

@arc5040 3 месяца назад

F'm ... I struggled for 40+ years for my home. GET A JOB and stop giving corporations a free pass.

@vannshuttleworth4738 4 месяца назад

"...Let The Market Decide..." I have heard this for several decades. The market decided to make as much profit as they can get away with. And blame someone else. Follow the money; the manipulation of supply and demand is critical to maximize profit.

@allthingseducation 6 месяцев назад

Boomers are a large group -- I am 61 and am on the border of generation x. I graduated HS in 1980 in Fairfield County CT and could not afford it at that time!!! Oh and 57 is not baby boomer. I finally at 60 was able to buy a home in Tulsa, OK for cash. I had to move states to do it. Nothing special or privileged about that. Please don't use the word ELDERLY it is offensive. We are just all people. I don't call someone in their 30s soccer moms and dads!!!!

@billb5313 3 месяца назад

well said. My parents bought a home in WI in 1949 with a $8,000 mortgage. They felt they had mortgaged their soul to the devil for the rest of their lives. When my Mom died in 2007 I sold the house for $70,000. The 2008 crash happened soon after. The Wall St. Investors have to be driven out of the housing market. The City I live in recently passed ordinances to allow people to create small homes in their garages for relatives or to rent out, due to the horrible pricing on houses and astronomical rent these days.

@brockreynolds870 6 месяцев назад

One thing that first time home buyers can do to save a tremendous amount is to not even HIRE a builder. Get educated and do it yourself. The builder usually makes about a minimum 30% profit on the home. Cut him out of the equation, and you'll save a ton. You just have to hire all the subcontractors yourself. I even designed my own house, but you don't have to. You can pay an architect to do that, or just purchase a spec plan online. I built a beautiful, MCM style custom stick built home for 40,000$ in 1995. It's only 750 square feet. But it's very nice. At that time, a builder would have charged me 90-100K to build that house.

@TheRealTiff888 6 месяцев назад

Interesting… I never would have thought to do this. Did you have to get a license to act as your own builder?

@brockreynolds870 6 месяцев назад

@@TheRealTiff888 I didn't. AS far as I know, you don't. Just do some searches about being your own general contractor. Many sites walk you through it.

@maxxomega6599 5 месяцев назад

Great idea but people will have too many excuses why they can't do it. Too busy, no time, takes me away from Monday night football 6 days a week, etc...

@beckypetersen2680 Месяц назад

@@maxxomega6599 For sure. It's easier to sit back and type on the computer about how bad the boomers are.

@kdockrey 6 месяцев назад

Years ago i knew of privately owned SNFs that had people sign over their home/property to the facility in exchange for care. As I stated, this was years ago (50+ years) and the SNFs were privately owned.

@kdockrey 6 месяцев назад

The SNFs were in rural Texas.

@cherylsmith4826 6 месяцев назад

I also wonder why people pay a ridiculous amount of money for a nice little house but then get more money on the mortgage to double the size of a completely liveable home.

@AlexBrandon. 4 месяца назад

one of the few youtubers I watch all the way through ... you are a gem to the average person looking for a home or property. I bought a small piece of land in Interlachen Florida that I am hoping to develop into an RV park spot.

@KristinaSmallhorn 4 месяца назад

That sounds awesome 👏

@brianbeecher3084 4 месяца назад

but even renters are affected by this, as more has to be charged if expenses rise.

@patrickmckeegan5345 5 месяцев назад

I am really going to them mad. I bought my first home while in college on GI bill for $16K. Sold it 5 years later for $32K. My current home was purchased in 1985 for $52K. It is my nest egg to pay for assisted in home care when the time comes. When I bought the first one, my father told me I was a fool for buying anything over $10K.

@duanejahn2368 6 месяцев назад

less affordability, low inventory, high interest rates cause this problem. IMO

@HeatherSt.Therese 6 месяцев назад

Owner occupied manufactured home neighborhoods are the way to go if we ever want to get out of this mess. Too bad our law makers don't see it that way

@sumerlilangel 6 месяцев назад

What I am about to say is VERY controversial. I have a feeling the eldercare facility may have sped up the death process. They should have someone look into the care that was provided to see if they can find shady activity that will give them leverage in this situation.

@wplants9793 4 месяца назад

My mom works in elder care and she feels like they are prolonging life too far and that means they get more money

@anthony-L.A.6946 2 месяца назад

@@wplants9793trump and covid was going to speed the elder departure.

@SanJunipero7 6 месяцев назад

The pandemic happened, followed by trillions of dollars being injected into the economy. Mortgage rates then dropped to the lowest levels in history. A housing purchasing frenzy followed. Now people/investors aren't selling the houses purchased with those low rates unless they absolutely have to. Those are the main reasons that housing prices are as high as they currently are. I blame the government for injecting too much money into the economy in such a short amount of time.

@mcanning51 6 месяцев назад

The real blame is the FED and greedy Bankers.

@finderoftruthknowerofsecre3429 6 месяцев назад

I dont actively blame Boomers....but I also can't say they helped pave the way for affordability for the next gens.

@kellychuba 3 месяца назад

Blame the tax scheme and corporate owned housing...and the fed...and class wealth theft.....and student loans...

@ghostaliaz 5 месяцев назад

Here in California we found out that the chinese government was buying up a lot of homes and I mean a lot like thousands and then keeping them empty for some strange reason for years. Also Hedge funds and banks here in California were teaming up together and buying up most of the homes and again someone else keeping them empty then after years of owning them getting loans off of owning them some way.

@PeacefulBill 6 месяцев назад

Home Owership Is Out There For Anyone Thats Wants To Work Hard And Long Enough To Obtain A Home. That Rule Hasn't Changed. No Excuses:

@DebiBrady 6 месяцев назад

It almost always comes down to supply v. demand. If anyone, specifically, is to "blame" for the housing crisis, it's the lack of foresight by government at all levels for not supporting the builders who could provide housing to the average family looking to buy for the first time. When my father's generation came home from WWII, they built a TON of homes across the country. Where they to the standards that modern families have come to expect, obviously not. They were small, they were close together, and they are now the suburban homes that circle most major cities. They are also no longer affordable, because of demand. Plainly, we just need more new built homes that are in the affordability range of new buyers with average incomes.

@Hueyck 6 месяцев назад

Yes exactly. Here’s a partial list of things government does to restrict supply. Minimum parking requirements, single family only zoning almost everywhere, minimum setbacks (prevent multi family home building and apartments), character of neighborhood rules, maximum height requirements. Also poor land use from excessive road building and suburban design. And then of course NIMBYS complaining about any new development and lobbying the government which in turn makes anything but luxury apartments economically viable once you factor in costs of builders to hire lawyers and lobby politicians to get apartments built.

@roxycauldwell544 5 месяцев назад

You're right, but the issue is that builders will only sell to the biggest dollar. If you take corporations out of the equation entirely they have no choice but to sell to the working class if they want any business

@brianbeecher3084 4 месяца назад

@@Hueycknailed it big time.

@brianbeecher3084 4 месяца назад

@@roxycauldwell544we need to see the end of the days when large corporations rule the world.

@Enki1013 4 месяца назад

I blame mostly Wall Street, private equity firms, and Air BnB.

@melissas4874 6 месяцев назад

I blame Californians for the issue in some states. The people who owned homes in CA had much more equity to buy a home which created a bit more competition in certain housing markets, created higher demand for new homes, and set prices higher since they could afford to outbid most of the locals in TX, NC, and other markets they flocked to. When builders know there is an influx of people like this they know that the locals don't matter - they can make their money from the people selling their homes in states with higher home prices and that they can raise their prices accordingly.

@1babysun 4 месяца назад

This is certainly true especially in TX right now where some areas have houses appreciating more that 300,000 in 2yrs, and $12,000 tax increase.

@mdizzylizzy2u 6 месяцев назад

CORPORATE GREED! PERIOD. 🤬💙🇺🇸✊🏻✊🏼✊🏽✊🏾✊🏿⚖️🗽💙💙💙VOTE!💙💙💙

@sangdrako 6 месяцев назад

I think that you have nailed one of the big contributes to price; the other small factors are also affecting things. One more factor that I think has a really big impact is zoning and building style choices.

@robertknight9506 3 месяца назад

The government is to blame for overprinting money while keeping interest rates at near zero. It has nothing to do with citizens.

@alexanderpitman9433 6 месяцев назад

A possible regulation/law is something along the lines of if a corporation owns a residence, then an owner of at least 20% of the company needs to be living in that state as their primary residence. Getting "Foreign" ownership out of a State might loosen up the market a bit.

@articcircleado 6 месяцев назад

It's 3 pronged in my view. Special interests lobbied to create ridiculous regulations. Boomers acted in self interest to limit building through zoning. Though your point is valid that many boomers are suffering from the housing crisis, democracy is based on majorities, and the majority of boomers vote to block building to their interest. The 3rd piece is probably the financial system. Thanks for your video, I didn't completely change my mind, but you're right, it's more than just the boomers.

@Atalanta571 2 месяца назад

Bet we could slow them down to a stop: ANY hedgefund or investment corporation that wants to buy manufactured home parks can be told this: You wanna play, you gotta PAY! You buy the land, you buy the homes from the owners so they can go out and find another place with cash!

@Tealeafsong 6 месяцев назад

Helpful! Thank you :)

@isaacvale918 6 месяцев назад

A huge portion of them voted for the policies we have😢😢

@justpde 6 месяцев назад

Worldwide as well?

@bdwon 6 месяцев назад

Baby Boom happened everywhere after WWII@@justpde

@rhodyreport8949 6 месяцев назад

Build more Tiny Homes!!

@susanpage8315 6 месяцев назад

I agree! The problem is that so many places have laws in place that discourage them. There are not nearly enough starter homes.

@MrVisionDPB 6 месяцев назад

Is no one’s fault, is Real State History we must keep learning from.

@RED-cy7ig 6 месяцев назад

I saw this on TV. They blame boomers because of who they voted for in the 1970's and 80's. Meanwhile I have seen house prices skyrocket from 2019 to 2020 alone.

@matthewronson5218 6 месяцев назад

Whom they voted for? How absurd.

@tmp88 4 месяца назад

@@matthewronson5218 how is that absurd if modern realities reflect past policy decisions?

@eh3477 3 месяца назад

@tmp88 For starters, there were millions of other people voting at the same time, from multiple generations. Boomers weren't the only voters.

@tmp88 3 месяца назад

@@eh3477 the boomers have been the largest voting block in America for decades before I was born. Politicians have catered a substantial portion of their rhetoric towards pleasing the boomers for years.

@rd24life Месяц назад

And Boomers still hold a super majority of governorships and the senate as well as a majority of the house. Boomers are still in charge of all of politics. Going on decades now with no end in sight

@clm3436 6 месяцев назад

Our state healthcare has a clause at the very end before you sign that they have a right to your assets😳

@nolaheart 6 месяцев назад

Which state? Most do try to get back what they paid. Maybe put assets in a trust.

@brockreynolds870 6 месяцев назад

I believe that is only for nursing care

@randiw5322 3 месяца назад

New or old I don’t care as long as it’s truly livable. I saw a home for sale for $275,000 with extensive fire damage missing most of the back of the house.

@KristinaSmallhorn 3 месяца назад

Yikes, That wouldn’t qualify for a mortgage. You’d have to either get specialized reconstruction loan or pay cash. Not many have $275k to then turn around and spend more to remodel.

@zmarko 6 месяцев назад

There's the manufactured home pitch!

@Palucu 6 месяцев назад

I never blame the previous generations. Its not their fault things have gone up insanely. It is, sadly, the reality that my generation would live. It is now our place to make decisions like, buying a home with sibblings or parents and live together (if you don't mind this).

@rictech. 6 месяцев назад

Happy holidays….. ric from nor cal

@thistlemoon1 6 месяцев назад

Oh heavens some of these RU-vid creators have bought into this hook, line and sinker. They've accepted it without question. Not the people they put themselves out there to be.

@Johnrl21 6 месяцев назад

For all of you that think institutional investors are the boogeyman, I challenge you to open up your 401k and IRA investments and check out what your funds are invested in. You might start looking within for the “problem”.

@petenrita 6 месяцев назад

THe NAR affordability Index in 2020 was the best in five years. EVERY bit of the decline inn affordability came as the result of higher rates and higher inflation from all that extra stimulus money (almost none going to boomers) and the low rates of mid-2020 to mid 2021 (which boomers took advantage of though less than Gen X). Payment as a % of income was at 14.7% in 2020. Q3 of 2023 it is at 26.8%. In the West, in Oct 2023, the affordability index is at 64.3 with payments at 38.9% of income!!! Most in West are not boomers.

@brockreynolds870 6 месяцев назад

You are not taking into account the MASSIVE increase in construction material that happened in 2020. Just a sheet of plywood was 60-70$.

@maxxomega6599 5 месяцев назад

Paid $275K...Sold it 17 years later for $900K. Bought a brand new house in a Gated Community for CASH for $300K. So we ARE selling because there are places to go, unlike what she said. Oh and when we were selling, we had 17 offers. So....LOTS of people can afford it. But so many are crying about unaffordable. The are not unaffordable for the people who can afford them...lol...and yes I am a boomer...and just don't care....

@analarson2920 5 месяцев назад

Great share.

@Joce123 6 месяцев назад

I bought a darling 1 bedroom..1 bath in Mason City Ia..less then $18,000...just painted the garage..2 others in the same college town..$8,000 and $14,000 respectively...Same thing in Missouri..and in Oklahoma

@Dancing_Foxes 6 месяцев назад

Them taking the house after she only lived for 90 days in there is normal. Basically how it works is this: you are betting that you are going to live longer than you think your house is worth in profit. Say you house is worth $500,000. To stay in that place is $6,000 a month. That $500,000 for the sale of your house would last you 6 years and 9 month. If you live longer than that you end up saving a lot of money because have have agreed to take care of you until you die. So if you live 10-15 years they will lose money and you will benefit. If every person did that and lived 10-15 year that place would go out of business. So if you pass away the business keeps the money and that helps cover the expenses.

@rpvitiello 6 месяцев назад

Housing can be affordable, or it can be an investment. It can not be both. Housing only goes up in value because homeowners voted to restrict new construction for decades. Every time a new building wants to be built, NIMBY people vote against it because it will “reduce their property value.” Yes that’s exactly what making housing more affordable means. It means your existing house will be worse less money when supply matches demand.

@charlesminckler2978 6 месяцев назад

If anyone is waiting for high interest rates to lower housing prices, the Fed just announced they are done raising rates and may lower rates.

@Summerdee223 6 месяцев назад

LOL, like all boomers are wealthly and living the dream!

@pickpac1 4 месяца назад

Short term rentals, AirBnB Verbo sit empty

@user-et5wg1fu4u Месяц назад

You are right!

@philmarsh7723 5 месяцев назад

"reduced number of nursing homes" If it makes no sense, that's what we do.

@CalebBlock 6 месяцев назад

Great content as always, Kristina :)

@scottandrews947 6 месяцев назад

This is mostly untrue. Institutional investors are a big problem, but mom and pops investors are even worse. The video creator doesn't want to say that because she, herself, is a mom and pops investor.

@pickpac1 4 месяца назад

NO ONE learned the lesson of 2008 crash

@brandonfoster8163 2 месяца назад

Private equity works for boomers by investing their 401k funds in homes as they stay in their cheap homes.

@totalpkgproductions2797 5 месяцев назад

Just when I thought 2023 was cruising to an end, you come with the [Thumbnail] of the [Year]...LoL😁...You've always provided [Great] content, and I honestly don't see any signs of you slowing down...Keep it rocking and Thank you! May you have peace, wellness, prosperity and continual blessings into the new year and beyond. 🙏💜🙏

@danshealthylifestyle8443 6 месяцев назад

People just blame other people for their problems, lame excuses

@mindfullymellow2323 6 месяцев назад

Seems like resentment that boomers are holding on to homes. But so are other younger homeowners who can’t or won’t give up 2% or 3% mortgages. Unless you’re an all-cash buyer or have a significant down payment, the math for a 7% mortgage is unlivable for the average household at these prices.

@urbanbakked3501 6 месяцев назад

Boomers are getting ready to retire in about 10 years and will be on set incomes and are not going to move so the younger generations are going to have to wait until they pass on but the property will probably go to a family member and if times are still tough they will not sale the property the smart ones will keep it😕

@mindfullymellow2323 6 месяцев назад

@@urbanbakked3501- 💯 leaving my house to my Gen Z son.

@MortgageHowDoI 6 месяцев назад

I just got called a Boomer on one of my videos this morning haha

@PatamaGomutbutra 6 месяцев назад

....Even I disagree with the aging-in-place idea, who should be blamed and banned from the housing market is big corporate. It is time to build a tiny space and energy efficient that is suitable for tiny families. I am not interested in the resale home built 40-50 years ago since it will become a burden in energy-efficient renovation and hard to find material to repair. We also do not want a big backyard that needs to cut grass, cut trees, and noisy leaf blowing anymore. We need only a roof ,one garage, two bedrooms, two bathrooms, one kitchen and one quiet room for a home office - that is .We prefer spend time and money enjoying outside activities and traveling the world. I see some elder people with an attachment to the home memory living with a low quality of life due to a lack of budget to repair broken amenities or renovate to be suitable for their deteriorated physical health - in addition to paying higher property taxes along with higher health care costs. It is their choice but I will not choose to be like that - definitely plan to move to assisted living facilities after 65 years old.

@Joce123 6 месяцев назад

That cost $12000 is per month.

@jimbowling8528 3 месяца назад

Thanks. I'm a boomer and, at age 26, my wife and I bought our first house (a 30 year old, 800 sq. ft. rancher with a 7% 30 year mortgage). 7 years later we bought our current home (a 20 year old, 1,600 sq. ft. rancher with a 12% 30 year mortgage). Several years later we refinanced at 9%, and thought we were very lucky. We kept the same house payment and paid off the mortgage in 23 years. During the time we lived in our first house, we completed our educations on a pay as you go basis at local state and community colleges, working full time. It took me 7 years to complete a four year degree and my wife 5 years to complete a 2 year degree. Throughout all those years we raised one daughter, vacationed out of the country only once (Bahama weekend), rarely took vacations that lasted more than a few days (most of which were within driving distance of home), drove used cars into the ground, and worked long hours. We kept our parents in thier homes as long as we could, taking turns with our siblings to take care of them until the last few months of their lives with the help of home health care services. Now we're retired, and still living in the house we bought in 1985, with enough retirement income to meet our needs. I don't understand the boomer bashing.

@allthingseducation 6 месяцев назад

I can't listen to these ageist terms anymore. I lasted until the ten minute mark.

@WillMoon 6 месяцев назад

It’s not that we’re bitter about their home ownership; we’re bitter about them holding ALL of the cards. They’re a top heavy, big generation that has basically been able to dictate the power dynamic their entire lives, and a lot of the policies they have enacted directly negatively affect people in other age brackets.

@deebrown7160 6 месяцев назад

What would like Boomers to do? Sell their homes for what they paid in 1970

@susanpage8315 6 месяцев назад

We had no say in government policies. While we fight among ourselves the government - local and national - continues to create laws that hurt us all. Meanwhile, they have all the perks.

@susanpage8315 6 месяцев назад

@@deebrown7160I bought my house in 2018. It was a mid-200s. 5 years later my neighborhood is going for almost $500k! I couldn’t afford anything now.

@thanosianthemadtitanic 6 месяцев назад

only first people remeber hillary clinton and jake tapper thumbnail

@Dallen9 6 месяцев назад

laws on Mobile homes and renters: There's laws that protect them, the problem is the laws that protect them have to be brought up in Civil courts, even though it's a criminal offense and you have to win the civil trail outright before a DA or AG can do anything.

@inertiaforce7846 3 месяца назад

You say it's institutional investors but what about the high inflation?

@allthingseducation 6 месяцев назад

Stop stop with the world elderly -- it is so cringe!!!!!!!!!!!!!!!!!!!!

@kellyfanello6716 6 месяцев назад

Kristina hi I watch you all the time ,I'm a first time everything with my home , can you please help me when or what how we should refinance ,if rates fall next year please and thankyou

@SS-cc8wr 6 месяцев назад

It was not this bad until after the Covid pandemic! Everything changed!

@KristinaSmallhorn 6 месяцев назад

Inflation and low wages have people pointing fingers. Corporate greed is the issue.

@edaskew1321 6 месяцев назад

Audio went out after 2min

@davisholman8149 6 месяцев назад

It has nothing to do with the big, bad, Boomers, LOL (of which I am a part of😜). The problem is that the institutional investors have made selling our family home to down size to an apartment impossible! An apartment in a decent area is so expensive. - it makes no financial sense to sell our paid off house! Even having to pay utilities & taxes on our larger home does not make up for the high cost of renting. Easier for those to park in the garage with three steps into the house than in apartment parking where making trips to parking stalls with groceries to carry is tough for older people with mobility issues. Can you tell I have friends with this problem? No rational reason to sell a comfortable home unless it makes sense to do so - financial & otherwise.

@beckypetersen2680 Месяц назад

Exactly. Many have worked hard NOT to have monthly payments. Why add that stress back to your life?

@marksandoval5361 6 месяцев назад

Boomer here. Bought my first home 35 years ago for $50K. It was a 900 square feet steaming pile of "junk" in a bad neighborhood but that's all I could afford. I was making $10 per hour and the interest rate was 10%. I could barely make the mortgage payment. I spent months of sweat equity and thousands of dollars fixing it up to make it habitable. Since then, I've owned 7 houses, to all of which I've provided lots of sweat equity. Each time I bought another house, it was better than the last one. Now, I live in a very nice house in a very nice neighborhood. I didn't get there overnight and I didn't get there without a lot of work. I've even taken on roommates so that I could make my mortgage payments in the early years when money got tight. Don't assume that a Boomer just had their house handed to them because many of us didn't. Most of us spent a lifetime to build themselves up to have the house they now own.

@deebrown7160 6 месяцев назад

What state had houses for 50k 35 years ago? They didn't seem possible

@marksandoval5361 6 месяцев назад

@@deebrown7160 Lafayette CO (Denver Metro area near Boulder). That same house probably sells for ~$400K now. Back then it was just a dusty little rundown town on the plains. But, a few years later it was swallowed by developments like most places that were near a big city. Suburban sprawl!

@JakoWako 6 месяцев назад

The fact that you bought a 900 sq ft home while making $22/hour in today’s dollars and act like it takes discipline to pay the mortgage shows how easy you got it. I bought an 800 sq ft condo two years ago while making $36/hour and had to put a 20% down payment to qualify. That down payment took me six years of savings to accumulate. Most people my age are jealous that I pay a mortgage on what you would describe as a “steaming pile of junk.”

@_KrystalAlexis 6 месяцев назад

I don’t like the idea of people having to live in manufactured homes because corporate investors and people who buy property to just rent it. I think government needs to step in and you can only own a home you are living in.

@redlikewineagain697 6 месяцев назад

Kristina....I really related to the title of this video 😂😂😂I'm Gen X and a longtime hater of Boomers🤣🤣🤣 Not every single Boomer, of course, but just of them collectively. Their smugness when I was growing up and when I was new in the workplace was palpable. But I get what you're saying....and I don't wish anyone to become homeless. I think this touches on another problem in the U.S. and that is the way the elderly are viewed and treated. That needs to change. But I digress. Inflation is very concerning and it makes me anxious to think about the future.

@JNoMooreNumbers 6 месяцев назад

Well bless your heart 😂.

@Chew5219 6 месяцев назад

Thumbnail is the stuff of nightmares

@dinkyshopYT 6 месяцев назад

What no one is discussing is the New Deal and the Post WW2 USA Federal investment in GIs and Federally subsidizing the building of homes (like Levittown w/ its racial covenants). That surge of FEDERAL housing money and grants to buy a home, is what kick started the USA middle class and housing supply. Fast fwd to the 80s, Reagan SLASHED the funding of low income housing (from $32bil to $7.5 bil ) that removed low income renters from public housing to then competing for market rate units w/ middle income working people. The latter dried up the supply, forcing upward pressure on housing costs across all markets. Also, tenant based vouchers don’t rehab nor add housing supply, further worsening supply as old units age out. NLIHC has data showing when supply slowed, prices went up (during Reagan years), and it’s never come back down to pre 1980 levels. The fastest way out this supply problem, is for the feds to subsidize more housing for low and middle income people, like they did after WW2. These are the facts, not opinion.

@susanpage8315 6 месяцев назад

I totally agree! Reagan did so much damage to our country. “Trickle down” is a joke.

@rd24life 2 месяца назад

Boomers are to blame. The facts absolutely prove it

@joshuakaeble7810 4 месяца назад

I know it's not true hon, but it's so much fun :)

@ToonCrate 6 месяцев назад

Public perception of housing as an investment, nimbyism, overreaching HOAs, and strict zoning were all kicked into high gear by the boomer generation, but we're all reluctantly complicit in their mess now. Even the smallest grocery purchase goes into the back pocket of an investment firm, so we're all to blame moving forward. The only generational difference is how wealthier boomers are still unaware of how the market has changed and they punch down at every opportunity.

@seanm3226 6 месяцев назад

No comment here. As it would only be punching down.

@eh3477 3 месяца назад

Jeez. Hopefully you'll broaden your horizons, and meet kinder people. Or is that punching down too?

@mcgowee 6 месяцев назад

Crony Capitalism at its worst. Also, I would stay away from mobile homes in parks. We just left one after 20 years. The parks are being bought up by institutional inverters as well.

@susanpage8315 6 месяцев назад

True. And they are raising rents, hurting people already living on the edge.

@mcgowee 6 месяцев назад

@@susanpage8315 It's horrible. They don't care, and it's all about squeezing every dime they can out of the community. The park we were at was bought in 2011 from a family that said they would never sell. The out of state institutional investors weren't as bas as most in Colorado. I called them the least worst, but it was enough for us to get out. Between 2011 and 2020, they increased the rent from $325 to $990. They do nothing about infrastructure or crime. They allow homes to become overcrowded so they can collect more rent. And of course, the water usage went way up because they allowing 5+ adults to a home. lol Then the forced the tenants to have the underside of the homes checked for leaks. It's a nightmare. And, they are one of the better ones. I would never recommend anyone live in a mobile home park that isn't tenant owned, EVER.

@susanpage8315 6 месяцев назад

@@mcgowee that’s horrible! My parents moved into a trailer park in the 90s and I tried to convince them not to. They were pretty naive and did it anyway. Fortunately, they were gone before it could get really bad.