The Next Baby Boomer "Me me me" move? A decade of escalating interest rates

[Anonymous]

It's really interesting to see how policy makers have reacted to the Financial Crisis. They've done NOTHING to reform the housing sector or the housing finance system. It's still a mess of poor incentives, securitizations that mask risk, and people borrowing more than they can afford.

Essentially, they've re-inflated the bubble so Boomers in major metro areas could recover equity and sell their single family homes at top dollar to young families, funding their retirement.

What's next? How about 10-15 years of increasing interest rates. Boomers are going to take that cash and now demand risk-free return to fund their retirements. You'll see AARP campaigns (funded by the financial sector) to ratchet up rates, thus ensuring that borrowing is expensive for the next generation of students. This will also plateau housing prices. The equity gains of the last 3 years will take 20 years for Millennial home owners to accrue the same.

Additionally, my guess is that once Boomers sell the big house and retire, the USG will dismantle Fannie/Freddie or institute huge reforms. This will dramatically raise the cost of getting mortgage and lower the amount creditworthy young people will be able to afford.

Thank ya'll,
Generation Fucked.

[Anonymous]

You do realize that not all Boomers have big houses and lots of money laying around, right? Being fucked has more to do with your own effort than anything else and many boomers did not have big houses and lots of money.

[Anonymous]

OP still hates his/her boomer mommy and daddy

[Anonymous]

Higher interest rates will be good for the Millenials and beyond. As will flat housing prices.

[Anonymous]

Boomers such ass. Seriously.

Such a selfish/entitled generation, that did basically shit all to help our country but has ruined it in a myriad of ways.

[Anonymous]

^suck ass.

Damn autocorrect...

[Anonymous]

They've done NOTHING to reform the housing sector or the housing finance system. It's still a mess of poor incentives, securitizations that mask risk, and people borrowing more than they can afford.

What? Talk to any lender and they will tell you a different story.

[Anonymous]

Anonymous wrote:OP still hates his/her boomer mommy and daddy

Yeah, hate to cast those kinds of aspersions but the hatred is so bizarre.

[Anonymous]

Anonymous wrote:Boomers such ass. Seriously.

Such a selfish/entitled generation, that did basically shit all to help our country but has ruined it in a myriad of ways.

Correlation does not entail causation. I'm sorry that some boomer in your life has hurt you but blaming an entire generation for things that happened while they were alive -- well, that's not particularly useful, let alone accurate.

Tired of all the people hating on different generations whether it's boomers, Gen Xers, or millennials. C'mon people, we can do better than that.

[Anonymous]

Wow, OP, stop sounding so jealous.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Boomers such ass. Seriously.

Such a selfish/entitled generation, that did basically shit all to help our country but has ruined it in a myriad of ways.

Correlation does not entail causation. I'm sorry that some boomer in your life has hurt you but blaming an entire generation for things that happened while they were alive -- well, that's not particularly useful, let alone accurate.

Tired of all the people hating on different generations whether it's boomers, Gen Xers, or millennials. C'mon people, we can do better than that.

If boomers can hate on millenials, millenials can hate back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Boomers such ass. Seriously.

Such a selfish/entitled generation, that did basically shit all to help our country but has ruined it in a myriad of ways.

Correlation does not entail causation. I'm sorry that some boomer in your life has hurt you but blaming an entire generation for things that happened while they were alive -- well, that's not particularly useful, let alone accurate.

Tired of all the people hating on different generations whether it's boomers, Gen Xers, or millennials. C'mon people, we can do better than that.

If boomers can hate on millenials, millenials can hate back.

No one should hate on other generations. And in fact most people I know do not hate other generations. They're able to see others as human beings and not define them solely by their demographic categories. It's sad that there are a few posters on DCUM who are not able to do that.

[Anonymous]

Millenial here who bought a condo and has a good job. I'll turn this into a rental when I'm ready to upgrade with the cash I've been saving. My boomer parents taught me to work and plan for my future.

Apparantly the OP wasn't instilled in him a strong work ethic and was raised in a culture of trophies for everyone and playing victim.

[Anonymous]

Boomers such ass. Seriously.

Such a selfish/entitled generation, that did basically shit all to help our country but has ruined it in a myriad of ways.

Yes, they so selfishly fought in Vietnam by the hundreds of thousands. Fifty thousand of them were killed and many maimed there. There was this thing called the draft. The millennials complain that their lives are so hard. They have no idea. Don't judge, OP, until you are 65 years old. You will probably have a big house and your children will be complaining about how you need to sell it and stop working so they can get the big bucks. Nobody starts out having it all. They work for it. Apparently you are too good to do that.

You think this country is "ruined". Try working to make it better. You apparently are unselfish and willing to do that.

[Anonymous]

Anonymous wrote:
You do realize that not all Boomers have big houses and lots of money laying around, right? Being fucked has more to do with your own effort than anything else and many boomers did not have big houses and lots of money.

Shhhh! Ignore this asshole boomer hater. They show up with something similar to this quite often.

And this boomer is likely to be working full time until age 70 and part time beyond while I continue to provide jobs and training so that the generations that follow can make a good living for years to come. Not to mention paying mid to high 5 figures in taxes.