In 2024, there were more home buyers over the age of 70 in the U.S. than under the age of 35
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So not only is social security going to collapse when the boomers die off, but so will the housing market. Everyone better buckle up. Shit's going to get wild in a decade or so.
Boomers essentially left 1 of 2 avenues, were either going to be a corporate socialist “economic zone” or the worst civil war ever seen in history.
Or the biggest number of foreclosures the world has ever seen. Every boomer that bought a house and died will have it passed down to their offspring who can’t sell it and afford the taxes/interest rate.
They can try but rent is on par to be with mortgage payments in some areas now, even with the massive house inflation. These rental firms are setting up for just a delayed failure.
Well yeah, economic collapse post boomer is basically guaranteed, the only outcomes I see happening as a result are corporate socialism or a civil war that probably expands into a global war.
I don’t think we’ll see a “hot” civil war. We will see a cold civil war where states start taking back the roads from the Federal Government and rejections of trade. A quiet quit on a state level.
Forget not being able to afford property taxes. They won't be able to afford the mortgage(s). I know boomers who bought their current California homes in the 90s for $200,000. 30 years later when you'd think the home was paid off, they have not one but TWO mortgages/heloc and total debt owed is double what they paid for it.
Boomers are leveraged out the ass.
Most of their kids aren't inheriting homes, they're inheriting debt. Mountains of debt.
what's going on is just regular tyrannical genocide. if it was supposed to be socialism we'd at least see some stuff getting back to people between all the cracks in the corruption.
My parents recently blew like $8-9000 on a riverboat cruise in Europe while I can barely keep my car running. I live with them due to me being white in this economy and they have the gall to ask me to start helping them with bills (they both drive Mercedes that they paid around $90k cash for). My mother says it is because I "don't work hard enough". I work in a warehouse lifting generators and refrigerators for several hours a night. In the last five years I have probably done more hard manual labor than my father has in his lifetime.
I'm only around 30, but my knees crackle when I squat. My parents think that I should have a $100k+ job by now. The irony being that I might actually have one by now if I didn't waste 4 years in college and another 5 trying to make it in that career as a straight white male in a very saturated heavy liberal field. They still think its 1983, because that's the last time they had to find a job.
And the worst part? My parents aren't even that bad by boomer standards.
Why the absolute fuck haven't they leveraged their own contacts to get you a job?
Seriously. I can't fathom this attitude some people have. If there's anything life has taught me, if you want any sort of reasonable job, you basically have to abuse family/friend connections.
Boomers... do good for *family?!?!?!?
They probably worked some sinecure jobs that no longer exist.
Boomers have the "i have a sandwich, why is everyone hungry?" outlook on life. They think because they rode the post-WW2 economic wave to the very end, that everyone at every stage in their life are in that same situation.
My dad will unironically suggest I buy a house down the street from him in his Beach side community. He couldn't even afford to buy his home today. He doesn't realize that someone would need to make 5x what he made when he bought it in the 90s to be able to afford the identical house. Boomers truly are clueless to the struggle of anyone else, even not so well off fellow boomers, but especially their own kids.
Start looking for nursing homes.
What are your skills?
Do you have any savings?
Do you own a vehicle? A work truck?
Look into getting a pull behind camper. If you have a tow hitch on your vehicle then you can have a small mobile home. It's a good backup plan.
In the meantime, maybe just stay on your parents good side if they have something to leave you in their will.
I think you should just start your own business. But i need to know more about your skillset, whether you have some basic business understanding from college, etc.
Also, if you come up with a good business idea then maybe your parents can provide some capital finance, help market your business, etc.
A big problem with vanlife is that most municipal areas don't allow overnight parking/camping, so you spend a lot of time hiding, getting harassed out of spots, looking for new spots, worried about getting kicked out of known spots.
I've seen videos of boondocking guys paying property owners simply for the right to park in their driveways unharassed.
And even then, this requires one to live quite rurally, because a lot of towns have strict restrictions regarding campers remaining in driveways or residential streets even on private property.
Just join a KOA which has camps all over the USA. Then you get access to all their spots. Also truckers know lots of places to park and sleep with millions in cargo in the back. So get in with their networks. Find the industrial parts of urban areas and you can find places to park. near the ports or where trains are loaded with cargo. Lots of vans and trucks. Also any where construction is going on you can often get away with parking vans or trucks. Also don't make your camper look so campy. Make it look more like a work trailer from the outside or make it more discreet so you blend in.
Also, paying for a parking spot somewhere might be worth it. The idea is to CHASE the work. Wherever you can make the most money is where you should relocate your mobile camper to, park, and stack cash which you convert to gold and silver bullion and safely stash in safe locations.
You could just continue to live with your parents but get a job that requires you to travel a lot, which means then see less of you and you still have a room they let you come home to when you return from a week of traveling, driving truck cargo, working remote construction projects for a steel company or something, I know a guy who bought his own rig and just runs cargo for contract. He said there's bidding sites and he just bids and chooses which cargo to run, and then he says there's groups he joins but i guess it's 1099 work or he started his own business llc
There's one company my bud worked for that just repaired signs. They had repairmen traveling around different states installing large storefront signs and repairing others
I'm not OP btw.
I was just chiming in about the unseen negative aspects of living like a carnie/gypsy.
I just about another 15 ounces of silver coins today
Got some of the cowboy series, a few buffalo girls, 5 standard buffalo rounds, some other assorted ones for low premium.
So silver is up 19% in the last 6 months and gold is up 16% in just 6 months.
Why the fuck would you keep your money in a savings account when you can just buy REAL MONEY gold and silver and watch it double in value every 5 years?
If gold spot goes below $3300 again i'm going to buy another one ounce eagle
If you think the homes will end up with regular people you're dreaming.
Housing market won't collapse when they backfill the dying boomers with 150 million new third worlders.
My thoughts exactly. One of the strangest parts of the jeet invasion is that many of them seem to have endless amount of capital to drive up the local housing markets.
You realize nothing will happen and no one will do anything, right? Like, you do know this, correct? You’re just joking for the sake of the Qult crowd?
The average age of a first time home buyer is 38 years old.
The average age of a homebuyer is 52.
They have never been this high, and everyone knows price is the problem.
The problem is that everyone is focused on supply ONLY. They're not considering that people are buying houses to rent, rather than live in to respond to the perpetual loss of savings and income and they don't want to accept that 30 million people shouldn't be in the country.
that being said, the system is not sustainable and will continue to stumble and fail.
While the true crash I was worried about hasn't happened yet, there's no evidence of it being avoided, and delinquencies and fraud are massively up.
Given the amount of homes that are being used for Air B&B and rental properties, I think when this bubble starts to pop, people will try to dump their house on the market, and it will cause prices to fucking crash faster than anyone can react. We're going to have a literal "run" on the housing market. There's only about 400,000 homes on the market at any given time. If that number doubles in a month, you can't stop the crash.
They gotta stop letting foreign nationals buy up the houses. It's such a frenzy right now they are using middle men / bots. it's making a huge bubble, while fucking everyone who actually wants to... live in a house.
Guns are the only way that will ever stop, and no one will ever use guns. Just get used to this.
We should also probably stop letting foregin nationals in.
What will this mean for those of us sitting on a large pile of cash? Will this be a good time to buy homes or is it just going to kick the entire society into a tailspin and I should be concerned about something else entirely?
It would be the same as in 2008. Everyone with money would buy, centralizing real estate even more into fewer hands.
Your cash is utterly worthless and depreciating every single second.
It's not a good time to buy homes, but when housing prices crater, I can't tell you honestly that anyone's going to have a good time at that point either.
If you're sitting on a large pile of cash it might be worth it to consider buying a house you know is going to lose 10%-30% value in the next decade in the market crash, and treating it as an investment for such a purpose. Depending on your 'pile', it might be worth not taking out a mortgage, buying the house, and making permanent improvements on it that you know will make the house worth more over time (like adding a 80 year metal roof, installing granite counter tops, reworking the insulation to make it proper).
Alternatively, you can take out a small mortgage on a cheap home that you can do improvements on, and focusing on growing your 'pile' through other investments.
If you can get a 20% downpayment, you can also eliminate mortgage insurance in a lot of mortgages, which can seriously help reduce payments, or even buy down the rate, and doing the above.
It mostly depends on the size of your pile. If it's 100k, all of the above options are available to you. If it's 10k. then a home might not be a great investment without you and your family doing a lot of work.
I was convinced said crash was going to happen in 2020/2021 and then COVID happened and rather than crashing, rates went down and prices went up. But then rates went up and prices stayed the same because sellers don't want to give up a 2.5% mortgage with a 7% mortgage. What would cause the housing market to collapse? Honestly curious/asking.
If rates go down will that incentivize sellers to finally sell? But historically rates down/prices up because borrowing gets cheaper. So what's to stop boomer sellers from asking for outrageous prices like they are now?
Depopulation and inability to pay for higher prices.
Immigration is one of the leading purposes of decreasing housing supply, so that will help to some degree. However, there's another problem of just a decreasing population which can't really be contained. Gen X had less kids than GG'ers did, and Millennials had less kids than everyone before them. Gen Z and Gen Alpha are barren. The demand is technically high for housing, but as Boomers die, no one can replace them. Either institutions will have to expand massively their ownership of property, or they will simply enter onto the market, and be too expensive for their family or bank to profit off of. Hence, prices will have to come down because these younger generations simply don't have the savings to afford these houses.
"Okay, but couldn't they just rent the property?"
Not if they need the cash right now. Renting comes with managing the property, and that's expensive. If it's not worth it to keep, they'll sell it. And there's such a glut of rentals at this point that there's barely a point to keep renting even now.
Doesn't help that the US is a paper economy. People used to build shit and were spread out across the country. Now everyone wants to live in the same five bughive cities because that's where all the jobs are (supposedly).
Can't blame them. The size of the corporations and the cronyism chokes out smaller competitors
Boomers are also asking top dollar for their dated shitholes and then run to a new build in those terrible communities that are springing up everywhere
Why is every new house that is built an ugly monstrosity with no yard? Architecture that drains the soul rather than uplifts it...
Architect schools got infested with Bauhaus and it's been downhill ever since.
No, I'm not joking.
No yard means more indoor space, right? I'd rather have that. Grass requires maintenance, and feels like a waste of a fine personal office or private gym.
I enjoy walking in my yard, grabbing a fresh ripe peach off a tree in the summer, looking at the flowers and vegetables grow, getting fresh air. I couldn't live without having my own land.
To each their own, I guess.
Personally, I prefer my indoors. If I want nature, I'll go somewhere to experience it.
I’m not mad about smaller yards per se, it’s that they rip down every mature tree - in turn destroying animal habitats in order to fit as many houses as they can with absolutely no privacy. I remember seeing communities out west that were placed so close together, you could legitimately high five your neighbors through your windows!
Taking down old trees does feel like a crime of some kind.
This guy is the redditor meme going around where he says he is scared and cries when he sees any nature. Truly a bugman
Fair point.
yep, i cannot stand those flat roof-ed plain, window-ed, neutral/brown colored, "industrial" designed homes i see how, especially prevalent in Colorado for whatever reason. Who the hell wants to live in a house looks like a dentist office on the inside and a high end strip mall on the outside? cold and sterile.
Why would the owners give a shit? They're not the ones living there. The hab-block is the ideal form of property for rent-seeking. If you wanted to live somewhere fit for a human, you should have been born 70 years ago and just bought the rights to leech off of people who actually work for a living.
The biggest problem in the market is that boomers are holding on to their houses and not downsizing or moving into elderly communities.
yep, it was a strange time that total square footage was at any time, considered oneupmanship rather than a useable home of high quality.
A lot of private retirement communities are a scam as well. They are designed to charge 3-4x market rent to eat up any inheritance left within a few years while warehousing the elderly to be abused by illegals.
I can't believe "Boomers ruined everything" might be the true bipartisan stance.
It's an unavoidable truth, even to those who are deluded about everything else.
Can’t say I’m surprised
Yeah we’re toast.
Wealth transfer at work.
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