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Baby Boomers Are Buying Up All The Houses
(www.sfgate.com)
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this post was submitted on 14 Nov 2023
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They already owned houses that cost approximately 1x their combined salary or less when they initially bought them back in the 70's & 80's and they've all been paid off for a while now. They can use them at leverage to buy more and rent them for extra revenue on top of their pension.
They held on to their jobs to the detriment of their children, and then required higher education degree to do the job they've been doing with basically a high-school or vocational college degree. And now they're hoarding all the housing, again, to the detriment of their children. And they have the gall to call their kids lazy when they've been basically competing with them the whole time, preventing their children from reaching their life goals.
I can't fathom a world where I could buy a house for a year's salary. It's nuts.
Why are they holding on to their jobs for so long? I don't want to work any longer than I have to.
Because that's all they've ever known. If I take my parents for example, they worked their whole adult lives and raised me and my sister. They have no past time, no hobbies. And besides, they were being paid big bucks for staying since they had all the knowledge about the job.
Maybe they have to? I’m not a boomer but getting close enough to that age to worry about - no end it sight to the debt, the expenses.
Eh if you enjoy it why not?
I don’t particularly see myself ever fully “retiring”. My job is pretty sick.
My current job I can basically come and go as I please. I bring my bike and go trail ride in the middle of the day. If I feel like working from home, I do so. If I feel like taking a day off, I just shift my days. My normal schedule is 4x10 so I get a 3 day weekend almost every week unless I’m doing overtime. And they pay out the ass.
I’ve gone up into the mountains for a week, logged in for a few hours in the morning, then gone out hiking/biking, then come back and finished up my last few hours while drinking a few beers. And not burned any PTO.
https://moneyguy.com/wp-content/uploads/2021/03/debt-up-to-my-eyeballs.gif
In debt can't sit home alone/no friends or something. If I had a pretty chill job, I may not want to leave even if I need money. It's also easier to wake up for your job when you know you have any stress at all that job because you don't need it and don't care if you get fired.
My boomer dad inherited his mom's house, then sold it to a rich guy to rent out. His house will go to my bitch stepmom or her kids. Dgaf, I worked for my own. Gen X rules
vibrational thank you auto correct. I guess you could say Boomers made bets that paid off big in the Bay Area. They’ve been rewarded for the risk, but damn it sucks just trying to live here when you don’t make big money.
In the bay area they've also gone hard into NIMBY. Prices are the way they are because they've blocked a lot of new construction permits for decades.
Yeah. That happens a lot with my phone lol