Reply to Boomers' Billion-Dollar Bonanza: The Unseen Hoarding Behind Millennial Struggles

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Not only were mortgage rates extremely low until recently, some of us boomers were at home buying age when mortgages were at 18%. I remember being ecstatic to refinance at 7%. [/quote]

Was going to post the same![/quote]

I think the article has so many flaws it’s maddening. 
How many homeowner Boomers actually have mortgages? Many paid off their homes in the late 90s and eat 2000s.

What about GenX? No one ever talks about us? We’re the ones who will inherit the Boomer $$$ - millennials and GenZ are the boomer’s grandchildren.

That wealth may have gone to Boomers for a few decades, but a lot of it will not be transferred to heirs. It will be consumed by healthcare and nursing homes.

Finally, Boomers may have a lot of equity in their homes, but as a generation they are more likely to have a pension than a 401k and many didn’t save much because they thought SS and Medicare would cover them. 
[/quote]

This whole stereotyping people by using slang like Gen X or boomer is kind of dumb.  (Not you pp).

A portion of Boomers were born in the early 1960s.   A portion of Gen X were born in the late 1960s. Siblings all born in the 1960s are not from different generations.

The older “boomers” grew up with turmoil.  Kennedy murdered, MLK murdered, civil rights fighting, riots were common, 50,000 of them dead in Vietnam. People don’t dictate what’s going on during their time growing up.

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