Yeah, but my boomer parents (and their friends and relatives) didn’t object to any of that because anything that drives up *their* property values is good. 🙄
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Well think for a moment. My niece and her husband bought a home 3 years ago. She’s 36. What would happen to this non-Boomer if the value of their house dropped? If they couldn’t sell because the sale wouldn’t cover the mortgage they owe? Their investment just became a debt.
aug 25, 2025, 8:03 pm • 0 0 • view
They can’t borrow against equity to replace the roof, or fix a drainage problem. Who wants their investment to lose money? Do you? Are you in favour of having your savings depleted?
aug 25, 2025, 8:03 pm • 0 0 • view
On the other hand, if housing prices are stable or grow, they spend the money on upkeep and improvements. That creates jobs and increases GDP. And, at the end of their lives, they downsize and spend the money on their own care and helping their kids.
aug 25, 2025, 8:03 pm • 0 0 • view
That’s the same argument that’s used to prevent minorities from moving into ‘white’ neighborhoods. It may be accurate, but it only helps those who already live there while making things worse for everybody else.
aug 25, 2025, 8:05 pm • 1 0 • view
It was. Still is sadly. But that doesn’t change the reality. No one makes an investment hoping it won’t pay off. But it’s why we can’t ignore racism, ageism, income inequality, rental prices, etc. It all matters if we want a world where everyone has a shot at a decent life.
aug 25, 2025, 9:33 pm • 0 0 • view