Quote:
Originally Posted by Enoch Root
Blame boomers. Hell of a way to live your life.
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Quote:
Originally Posted by Enoch Root
We have had this conversation. There are a lot of factors, primarily lower interest rates. The lower the interest rate, the more home you can afford within your monthly budget. The long term drop in interest rates has allowed home prices to rise faster than incomes.
That is not boomers' faults. That is a function of a great number of variables.
There has always been a generational wealth divide. Young people don't have a lot of savings. Older people, who have been working and saving for decades, have more. Shocking, I know - details at 11
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But getting your foot in the door is considerably harder now than it was a generation ago, and things continue to get worse. Would you not agree?
It's always been tough for young families to start outm now it's considerably harder.
You speak of a number of factors being the cause. Yet dance around who put thev policies into place that resulted in those factors. The college graduate with piles of debt trying to find a job is to blame? The 30 year old couple trying to buy a house with enough room for the kids they probably can't afford? Or maybe the boomer who's property is worth ten times what they paid and who has just used a HELOC to buy yet another luxury vehicle?