What Happens To The Real Estate Market When All The Boomers... Die?

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My first financial mistake was being a sixth grader instead of buying a house. It has been an uphill battle ever since.

It's like playing Monopoly. But everyone else has been playing for ten rounds already, all the properties are already sold and the the game board is on fire.

Back in 2007, during my time working in real estate, I witnessed people purchasing newly built homes from builders with the plan to sell them before the closing of escrow to another buyer for a profit. The crash hit hard and fast, and I vividly recall many of these units ending up foreclosed upon, with the builder's plastic still covering the carpets.

My biggest financial mistake was being born.

My dad and I had the same job in the same metro area. In 1969 he bought his first condo in the Los Angeles area for $16k and his annual income was about $12k. When I started the same Job in 2010, that same condo was worth $300k and my annual income was $65k. Today, it's worth over $420k and has similar mortgage interest rates as in 1969. I currently make around $110k a year and my father's income never went over $70k a year in his prime. To have the same purchasing power today, my income would need to be about $323k a year.

Law should be updated to make corporate home ownership illegal

For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.

I love how we went from growing people told me I could do whatever I wanted if I worked hard enough to being grown working harder than we ever have and still not being able to do the most basic things like owning a home.

The fact that housing is considered an investment is one of the biggest issues. Limiting how many homes a person can own and getting investors out of the housing market should help normalize things but at this point, I'm just hoping for a Thanos snap

I love getting financial advice from a generation whose job hunting experience consists of walking into a place where they wanted to work, asking if that place had an available job, and getting hired on the spot.

I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

"Permanently exiting above-ground real-estate market" is the coldest and most polite phrase I have heard this week.

adds salt to the wound that boomers don't realize how much more financially difficult we have it in modern times..

Can’t begin to tell you the amount of people that I’ve seen take care of their aging parents and sacrifice their own life, career and family, just to find out mom and dad had drained all of their money to fund their medical and living expenses. Leaving them with NOTHING. I work in banking so I see this almost on a weekly basis.

I lucked out. My aunt invested heavily in real estate during the 80s and 90s and owned several homes, she sold most and one of them she left to me after i was asked late past year how the place i was renting is and i told them that the new landlord was doubling the rent so id likely need to move back in with mom again at 30. I'm immeasurably grateful for this and live is finally improving after 12 years of constant struggling to stay out of poverty, but the fact the real estate market is so fucked that only the ultra wealthy can buy a home is horrific. We need to treat housing as a product again, not an investment.

My Grandpaw started working in the 50’s s on a few hundred bucks a month and went on to buy multiple pieces of property, build a house on one, retire by 62 with a pension and have a nest egg that has supported him into his 90’s with no bills. That dream is long since gone. I have to be happy with my job being just enough to pay the bills with a little bit squared away for a rainy day and a 401k that could get wiped out with the next bubble popping. It’s legit terrifying when I realized I make 30 times what he did.

My step-father died in "his" house having never paid it off with less than $10K in his account. When his daughter came to claim her inheritance, all she received were his unpaid bills.

As someone who has worked in the retirement housing community I find it hilarious to hear my fellow millennials talk about how they will have to wait to retire or get a house when their parents finally die. I cannot count the number of times I have watched boomers drain their savings to live 5 years long all the while leaving their kids nothing. I would bet most, if not all, of the boomer's wealth in any form is going to medical expenses, care and retirement housing. Boomers inherited the greatest wealth a generation has ever built and given that they are some of the most shellfish and spoiled people in our history, they would rather bury themselves in gold than give it to their kids.

When all the boomers die, equity firms will buy up all these properties, or as many as they can, and rent/lease/airbnb them out to whoever or just let them sit until they fall apart. Just my opinion.