Reply to Why is everything so expensive (general rant)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I believe the impact of the Baby Boomers retiring en mass has not been properly accounted for in the inflation narrative, particularly when it comes to the price of services.

Back when we bought our house in 2017, we got a few handyman recommendations and some of these were men were pushing 60. They actually took time to do a decent job and their rates were very affordable. Now? They've left the labor force - many left the area completely. Their replacements are younger subcontractors who don't speak much English and their bosses charge high rates.

Boomers who already had some assets they bought cheaply - a paid off truck, an older modest home out in PG or HoCo or Up-County MoCo - didn't demand a ton of money for their wages. They didn't have high overhead.

The same thing was prevalent when we were renting in DC - I would usually rent from someone who had owned the property for 20-30 years. They were not price sensitive because the home was either paid off or bought for a song with a stupid-low mortgage. As soon as that Boomer sold the RE for huge appreciation, the next owner would need to jack up the rent to cover the big mortgage.

I think the narrative of the "missing" Baby Boomers has received short shrift in our discussion about prices. When we see this generational turnover in the workplace AND with long-held asset sales, it spurs inflationary pressures.[/quote]

Very interesting presentation on this issue: "Revenge Of The Baby Boomers"

https://www.financialplanningassociation.org/sites/default/files/2023-09/2.%20Federated%20Hermes-%20Revenge%20of%20the%20Baby%20Boomers-August%202023-Linda%20Duessel.pdf

[/quote]

"Revenge"????

What the heck are they getting revenge for? And on whom? Who hurt them? Baby boomers had it GOOD, and still do. [/quote]

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