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Real Estate
Reply to "Boomers can’t downsize "
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[quote=Anonymous][quote=Anonymous]The Boomers paid like $1500 for tuition, $50k for their first home and then when their parents died at normal ages, got inheritances in their 40s. Now they’re super charged with modern medicine, loaded, and aren’t going anywhere. They’re also not maintaining their houses. Just check the market and see all the “as is” $1.2Ms that have fallen into disrepair. These folks need to start riding off into the sunset.[/quote] Say what? I'm a boomer, went to college in the 80's and is was definitely more than $1500. My first home was around $200k for a small townhouse in a dodgy area and our interest rate was over 10%. We lost money when we sold it because the area had gone downhill and the market was soft. My parents are alive and well in their 80s and I probably won't get an inheritance until I am 75 and it won't be much. And my current house is fully renovated and well maintained. Now my silent gen mother's house is another story - crumbling before our very eyes.[/quote]
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