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Real Estate
Reply to "The median Boomer has a housing cost of $612. That includes taxes and insurance. "
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[quote=Anonymous][quote=Anonymous]The premise is dumb. Of course housing costs are lower because boomers are older and many have paid off their mortgages. When they were in their 30’s they had big mortgages (helped by much higher interest rates than today). [/quote] Boomers and elder Gen ZX had a much lower income-home price ratio throughout their child raising and home buying years than pretty much any other generation: https://www.longtermtrends.net/home-price-median-annual-income-ratio/ Mortgage payment to household income ratio is at historic highs: https://twitter.com/Barchart/status/1618079832730132482 Look, it was easier for Boomers - especially white Boomers - to get rich and acquire assets. There’s no shame in admitting that. Even during the Volcker years - the high interest rates still didn’t outweigh the low principal balances for homes back then relative to today. [/quote]
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