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Money and Finances
Reply to "Boomers' Billion-Dollar Bonanza: The Unseen Hoarding Behind Millennial Struggles"
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[quote=Anonymous]I guess I am a member of the Boomer generation, although I hate that term. When we were starting out, we bought a tiny house in a close-in suburb, and financed it with a 30-year 12% mortgage. There are many similar houses in our neighborhood. When they come on the market they are snapped up, torn down, and replaced by mega-mansions with three-car garages, Great Rooms, etc. No young couple starting out can afford them, even at low interest rates. Not only is the house over-priced, but the taxes and utility costs are higher too. And the houses are so big that there is no back yard for kids to play in. This is not the fault of my generation.[/quote]
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