General Discussion

Chainfire

(17,757 posts)

63. I get letters several times a week from investment firms with lowball offers to buy my home and property.

Tue Nov 14, 2023, 02:46 PM

Nov 2023

Those folks are buying anything that they can rent out and it disappears,forever, from the market. That is where young people's problems are going to be coming from, not us old folk.

I promise that when I die, sometimes in the next few years, I won't burn my home on the way out.

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Baby boomers are buying up all the houses [View all] brooklynite Nov 2023 OP

Tick tock..... getagrip_already Nov 2023 #1

You missed a key element of the story. brooklynite Nov 2023 #2

In our area, there's nothing smaller that's affordable for retired boomers. I've got a house Vinca Nov 2023 #51

It has gotten insanely expensive. Our first was 44,000 with 2.5 acres. We got 9.9% Evolve Dammit Nov 2023 #76

That's hardly a new phenomenon. That's been going on for ages... brush Nov 2023 #77

I was curious if the trend was to downscale.... TheRealNorth Nov 2023 #4

Also where are they buying? viva la Nov 2023 #20

Selling the older, larger house first. marble falls Nov 2023 #3

Because they have all the wealth budkin Nov 2023 #5

Oh, come on. There are more poor Boomers than rich ones-- by far. viva la Nov 2023 #26

Thank you, Viva la Hekate Nov 2023 #62

Good points and examples. Evolve Dammit Nov 2023 #78

Except on aggregate, this: meadowlander Nov 2023 #79

That's how it's always gone. Boomers have workered for years and... brush Nov 2023 #85

Great post, and so true. The OP could start another generation war here on DU. brush Nov 2023 #83

You got it! As you are in the living reality of many people's lives while the media does not Stargazer99 Nov 2023 #100

Your post nails it, viva la. Diamond_Dog Nov 2023 #102

Most middle class Americans like me accumulated our 'wealth' calguy Nov 2023 #27

They can't take them with them when they die. The market should be loosening soon.... NCIndie Nov 2023 #6

I'm a Boomer and I'm good for another 20+years..... brooklynite Nov 2023 #7

It's all relative. NCIndie Nov 2023 #11

Thank you so much for your good wishes. I will bear them in mind in future interactions. Hekate Nov 2023 #12

Quiz time: How old am I? NCIndie Nov 2023 #13

I don't really care to play this game, given your previous responses. Hekate Nov 2023 #16

That's the spirit! Stick to your guns, whether or not you have the wrong impression. NCIndie Nov 2023 #17

I thought he/she/they were actually blindingly polite. viva la Nov 2023 #28

Okay. NCIndie Nov 2023 #30

In theory at least TheRealNorth Nov 2023 #61

Airbnb, Vrbo... (n/t) NCIndie Nov 2023 #65

Boomers are to blame, right? Aussie105 Nov 2023 #8

I Know, Right? RobinA Nov 2023 #39

Wonder if they factored in boomers buying for younger relatives flor-de-jasmim Nov 2023 #9

Probably not. The narrative of the selfishness of Boomers must be kept alive at all costs Hekate Nov 2023 #15

Those damn Boomers! Aussie105 Nov 2023 #18

I know... the "biggest transfer of wealth in history" wasn't boomer parents to boomers-- viva la Nov 2023 #29

Dont forget... getagrip_already Nov 2023 #25

Um...Gen X is in their 50's. I think you mean millennials and Gen Z. Wingus Dingus Nov 2023 #49

Yeah, typo.... apologies to the xers.... getagrip_already Nov 2023 #53

To be fair, Xers are used to being squashed between the two elephants.... viva la Nov 2023 #66

and the Boomers behind the 1970s environmental movement DBoon Nov 2023 #55

I'm glad the house I live in is paid for. Elessar Zappa Nov 2023 #10

Right - I'll be paying off my 30-year mortgage in the next few years FakeNoose Nov 2023 #22

They're not buying all the houses and hoarding them. Liberal In Texas Nov 2023 #14

Strange thing this attitude! Aussie105 Nov 2023 #21

Everything you say is true FakeNoose Nov 2023 #23

But... isn't the point of the complaint that boomers DID work and pay off the mortgage.... viva la Nov 2023 #32

Part of the problem with that scenario is: what will we find to buy affordably if we sell? Hekate Nov 2023 #60

I appreciate the great posts on this thread. I'm in somewhat similar.. brush Nov 2023 #88

I'm a boomer born in 1949. llmart Nov 2023 #35

You tell 'em. Finances were pretty tight in our house too... Hekate Nov 2023 #59

Your mother was ahead of her time. llmart Nov 2023 #71

My brother moved to CA during Vietnam. Got two degrees with free tuition Evolve Dammit Nov 2023 #80

That was a smart move by him. llmart Nov 2023 #97

I wonder if some confuse the boomer as a child... with the boomer as a parent. viva la Nov 2023 #68

I agree with your last sentence. llmart Nov 2023 #70

Thank you for telling it like it was for many of us. raccoon Nov 2023 #74

1948 here Mossfern Nov 2023 #75

You go, girl. I like your attitude. brush Nov 2023 #89

OMG you are so right! NT Tickle Nov 2023 #86

Yep, and there were the tumultous '60s/Vietnam, and the recessions of the Nixon '70s... brush Nov 2023 #87

I remember John McCain and his wife had 9 houses when he was running for president. viva la Nov 2023 #31

He actually thought an income of 4 million should be the cutoff for low Evolve Dammit Nov 2023 #82

All the commercials I see for the "I'll buy your house, in any condition, for CASH" are guys way younger than boomers Attilatheblond Nov 2023 #33

Who is buying all the houses are private equity and raising the price for home Stargazer99 Nov 2023 #101

How dare they! ripcord Nov 2023 #19

So... Mossfern Nov 2023 #24

What's an 1890's vernacular house, a recreation of a Victorian? brush Nov 2023 #90

It's a victorian cottage Mossfern Nov 2023 #91

Oh, it's a real Victorian. brush Nov 2023 #92

Yes Mossfern Nov 2023 #93

Oh that's marvelous. You have quite a treasure there. brush Nov 2023 #94

Thank you! Mossfern Nov 2023 #95

Repeat buyers? Duh, of course they'll be older. tinrobot Nov 2023 #34

A lot of this depends on the geography of where you're moving to Jersey Devil Nov 2023 #36

My brother is a real estate agent here in Arkansas... Mark.b2 Nov 2023 #99

Blackstone bought 90,000 houses in the Tampa Bay area onethatcares Nov 2023 #37

I wonder how many are like me - a younger buyer disguised as a boomer. Ms. Toad Nov 2023 #38

Here in Germany, it was, and is a different situation DFW Nov 2023 #40

Interesting, DFW! Thank you for telling your tale. Diamond_Dog Nov 2023 #103

I probably left out 90% of the details DFW Nov 2023 #105

Nah! Diamond_Dog Nov 2023 #106

"Blaming" them is misguided. In many places, there simply aren't enough homes (supply) themaguffin Nov 2023 #41

Or Not. MineralMan Nov 2023 #42

Don't blame the corporations mass-buying houses and driving the prices up. It's really the Boomers' fault! Oneironaut Nov 2023 #43

I'm not aware that "blame" is the intent... brooklynite Nov 2023 #44

We never upsized so no need to downsize. Raftergirl Nov 2023 #45

58 is the first year of GenX...1965. Last year for babyboomers was 1964. Demsrule86 Nov 2023 #46

"58" isn't a Boomer. It's a GenXer. Yavin4 Nov 2023 #47

I'm 64 and I was born in 1959. brooklynite Nov 2023 #48

You are Generation Jones leftstreet Nov 2023 #50

Very interesting. Thanks for the post. Yavin4 Nov 2023 #56

That's Me and my Husband Deep State Witch Nov 2023 #107

Or just a greater percentage of sales of houses that are actually selling? Freethinker65 Nov 2023 #52

I blame it on HGTV. Raftergirl Nov 2023 #57

How many people do you think watch HGTV? onenote Nov 2023 #67

I still think it has had an effect. Raftergirl Nov 2023 #73

No, they aren't. ismnotwasm Nov 2023 #54

We love our little 1,500 sq ft log cabin in the woods on 10 acres Bayard Nov 2023 #58

I get letters several times a week from investment firms with lowball offers to buy my home and property. Chainfire Nov 2023 #63

Bookmarking this for the cogent responses 💡💡💡 Hekate Nov 2023 #64

Investment Properties Deep State Witch Nov 2023 #69

I'd say it's private equity groups that are squeezing people out. sakabatou Nov 2023 #72

I will say this about the boomers.... Hope22 Nov 2023 #81

Around here, the few "starter" type houses that come up for sale happybird Nov 2023 #84

1965 is GenX DenaliDemocrat Nov 2023 #96

I'm a Boomer and I only own one house. PoindexterOglethorpe Nov 2023 #98

Banks buying homes Metaphorical Nov 2023 #104