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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][quote=Anonymous]I think your generation math is off. I’m Gen X and we’re the ones with 2-3% mortgages in our late 40s - 50s. My parents are boomers and they paid the 8-14% mortgage rates of the late 70s and early 80s - they don’t have mortgages now because their houses are long paid off. [/quote] This. 49 year old Gen-Xer here who has a 2.5% rate. My boomer parents paid off their house years ago but guess who also has a 2% rate on their mortgage? All my millennial neighbors who bought their homes for $650K and up over the last 5 years. My millennial friend and her husband 2 yrs ago upgraded from a townhouse to a SFH, locked in a similar rate, while now making rental income on their townhouse.[/quote]
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