/biz/ - Business & Finance

[Anonymous No.9541389]

What's going to happen to the housing market (US) once all the baby boomers start retiring and/or dying off?

Since baby boomers are notoriously fucking retarded with money, shitloads of them are relying on reverse mortgages to float them through their old age. On top of that, there are signs that banks are offering no money down mortgages to keep the housing bubble inflated.

Will we see more reasonable priced houses in the coming years once baby boomers crash the market when they all try retiring at once, or is this shit going to continue getting worse and worse? We all know most millennials can't afford houses, and these retarded boomers are the ones who own most of them.

It would be fucking awesome to buy a house without using a mortgage, should I just keep building my nest egg and wait for this retarded bubble to collapse? I'm in a situation where I'm in no hurry.

[Anonymous No.9541413]

>>9541389
in germany the boomer generation has jobs with much better perks than people who get these jobs now
best example are teachers, theyre basically unfireable
the economy will change significantly, but has already done so for the younger generation. youre not aiming to be employed at the same job forever. boomers will retire, or die out, and the job market will change accordingly, simply replacing the retarded boomers (ever saw one type on a computer?) with younger people who earn half and change jobs every 6 months.

[Anonymous No.9541420]

>>9541389

Lol would they mortgage out their house to live the rest of their retirement? I bet you they would and leave the debt to their kids lol. Fucking selfish bastards. Banks will foreclosure so many homes.

[Anonymous No.9541425]

>boomers
>die
Nope
They will live just in time for prolonged aging then mind upload. They will forever rule over and vote evangelicals into govt. They're never gonna die.

[Anonymous No.9541429]

>>9541413
Man you didn't answer a single point I posted about

Are you saying that housing prices will adjust based on the shit wages that millennials receive?

[Anonymous No.9541432]

>>9541420
so wait for the incoming crash with pockets full of cash, or crypto?
i feel like i might want to buy property abroad

[Anonymous No.9541445]

>>9541420
>Lol would they mortgage out their house to live the rest of their retirement?

Yeah dipshit, the typical life cycle of a boomer is:

>Be born into prosperity
>Parents die, inherit their house
>Realize you didn't save shit for retirement
>Reverse mortgage your house
>Leave your out-of-wedlock children with no inheritance

[Anonymous No.9541453]

>>9541429
housing market in germany compared to usa is two different worlds
most people in germany rent

[Anonymous No.9541468]

>>9541389
Most of the houses will be reclaimed by the banks or the state.
In the future, no one but the privileged can own property.
Didn't you get the Memo?

[Anonymous No.9541491]

>>9541468
What value do they provide to the banks or the state if they can't sell them to anyone though?

I was only 20 in 2008 when the collapse happened so I didn't have enough money to buy a dirt cheap property, but I feel like that sort of thing is going to happen again in the next several years.

Would love to skip the banks entirely and just buy a house with cash

[Anonymous No.9541501]

>>9541468
yeah, unironically this

Imagine all banks and rich fucks owning all the gold supply, ( which mostly they do). Would they let it go down in price???

The only difference is you dont actually need gold to survive, whereas having a roof is a necessity. so it is actually worst.

[Anonymous No.9541512]

>>9541501
How do you explain 2008 then? Banks foreclosed on everyone and housing prices tanked hard as fuck.

Why the fuck would the banks want a bunch of vacant homes if no one can buy them? It's a liability. They'd reduce the prices until they could be sold.

[Anonymous No.9541546]

>>9541445
i wouldnt believe any of this without having experienced it first hand. here is the greentext. ill try to give a good impression but the whole family situation was so immensely torn that its difficult

>>be 15, spend a lot of time at house of 1st gf
>>mom is a 50 yo weed smoking hippie with 3 kids from 3 dads. my gf is the second, her dad died of "unknown reasons"
>>mom once told me she used to smuggle heroin with one of her men, so its pretty obvious they were junkies. mom mustve been hot when young, so the guys were using her as a mule. she obviously never looked at it that way
>>current man, dad of third daughter works his ass off in medical care
>>financial situation: mom inherited 7 (seven) rental properties in the area, each built to allow three or four flats. she eventually sold off all of them.
>>bought daughter a new BMW mini for 18th birthday
>>original quotes: "i hate my dad, he was such a capitalist pig" "man, i just cant work 8 full hours a day!"
>>for about 15 YEARS, all she did was get up in the morning, make some sandwhiches, flay the girls to school, and go back to bed, maybe smoke a joint before
>>current husband had retreated fully into his man cave
>>later find out he had ball cancer and left to live in berlin to be with a woman he met online. seems like he was unable to communicate any of this to his family. guy seemed constantly off his balls, and the whole family would gang up on him because he was so stressed all the time, like.
>>ive never met a woman like that mom in my life. so incredibly thick and so immensely resistant to reflection, it was insane
>>today, she lives in the home the ballcancer dude paid for his whole life, because he just doesnt have the balls to kick her out
>>STILL ONLY WORKS HALF TIME WHAT THE FUUCK

[Anonymous No.9541552]

>>9541389
There will be a very slow recession I expect, since all the Boomers will die off over the course of like 20 years progressively flooding the market with more and more cheap houses to pay off their debts you'll also see the construction industry getting smaller and smaller as there will be no more demand for new domiciles which will just further exacerbate the problem.

There is one intriguing possibility: children continuing to pay the debt and moving into their parent's homes.

>>9541453
Then why bring up Germany at all? OP specifically mentioned the States.

[Anonymous No.9541556]

>>9541491
youll be able to buy a whole house for 1 btc in 2030
its so obvious it hurts

[Anonymous No.9541562]

The central bank inflated this housing bubble.

It will pop like what happened in 2008

[Anonymous No.9541565]

>>9541552
germanys housing market suffered much less during the crash, so its an interesting perspective
i thought
mutt

[Anonymous No.9541581]

>>9541546
Yep that's basically a similar story to every fucking boomer I ever grew up around

[Anonymous No.9541595]

>>9541581
its pure insanity
being that dad is my own personal nightmare