Banks, private equity, and hedgefunds are buying all the houses its not just the baby boomers.
Property is a great hedge against the us dollar!
Baby boomers got nothing on BlackRock
Outta curiosity… who do you think invests/runs black rock?
I dunno, but I’m guessing not a millennial.
Betsy Devos’s Brother is the founder of Blackrock.
Betsy Devos was secretary of education. And she was intentionally dismantling public education to further the interests of her brothers empire.
Edit: past tense. Former.
No, her brother is the founder of blackwater the private military company.
BlackRock was founded by Robert S Kapito and Larry Fink. Betsy DeVos’s brother Erik Prince founded Blackwater, the private military contractor.
Betsy DeVos is terrible, but was NOT colluding with BlackTock to dismantle American education. She was dismantling public education because she had her hands in the pockets of the charter schools
No she’s not. Miguel Cardona is Secretary of Education. https://en.m.wikipedia.org/wiki/Miguel_Cardona
Ope, fixed.
Checkmate okok you right
And overseas investors. A lot of U.S. real estate is owned by Chinese people and companies.
Hedgefundaganda from sfgate. Classic playbook from the rich, pitting people against each other to deflect blame.
Great catch!
And then go buy their cheap 55+ only housing to live in while they collect rent
That shit should be fucking illegal.
Remember in the US it is perfectly legal to discriminate to those under the age of 40.
Same as it ever was.
They already owned houses that cost approximately 1x their combined salary or less when they initially bought them back in the 70’s & 80’s and they’ve all been paid off for a while now. They can use them at leverage to buy more and rent them for extra revenue on top of their pension.
They held on to their jobs to the detriment of their children, and then required higher education degree to do the job they’ve been doing with basically a high-school or vocational college degree. And now they’re hoarding all the housing, again, to the detriment of their children. And they have the gall to call their kids lazy when they’ve been basically competing with them the whole time, preventing their children from reaching their life goals.
I can’t fathom a world where I could buy a house for a year’s salary. It’s nuts.
Why are they holding on to their jobs for so long? I don’t want to work any longer than I have to.
Because that’s all they’ve ever known. If I take my parents for example, they worked their whole adult lives and raised me and my sister. They have no past time, no hobbies. And besides, they were being paid big bucks for staying since they had all the knowledge about the job.
Maybe they have to? I’m not a boomer but getting close enough to that age to worry about - no end it sight to the debt, the expenses.
Eh if you enjoy it why not?
I don’t particularly see myself ever fully “retiring”. My job is pretty sick.
My current job I can basically come and go as I please. I bring my bike and go trail ride in the middle of the day. If I feel like working from home, I do so. If I feel like taking a day off, I just shift my days. My normal schedule is 4x10 so I get a 3 day weekend almost every week unless I’m doing overtime. And they pay out the ass.
I’ve gone up into the mountains for a week, logged in for a few hours in the morning, then gone out hiking/biking, then come back and finished up my last few hours while drinking a few beers. And not burned any PTO.
In debt can’t sit home alone/no friends or something. If I had a pretty chill job, I may not want to leave even if I need money. It’s also easier to wake up for your job when you know you have any stress at all that job because you don’t need it and don’t care if you get fired.
My boomer dad inherited his mom’s house, then sold it to a rich guy to rent out. His house will go to my bitch stepmom or her kids. Dgaf, I worked for my own. Gen X rules
vibrational thank you auto correct. I guess you could say Boomers made bets that paid off big in the Bay Area. They’ve been rewarded for the risk, but damn it sucks just trying to live here when you don’t make big money.
In the bay area they’ve also gone hard into NIMBY. Prices are the way they are because they’ve blocked a lot of new construction permits for decades.
Yeah. That happens a lot with my phone lol
This is how you get younger generations hoping an entire generation just dies already.
I’ve been that way for awhile.
Society doesn’t really change until older generations die. They’re incapable of admitting when they’re wrong, so it’s up to nature to take them out of the discussion.
I thank god death is built-in to life for this reason.
It’s even worse with boomers, too. The most entitled generation to plunder this planet. They’ll die out right as the consequences for their greed starts to affect us all.
It’s not the baby boomers. It’s the fascists and it will get a LOT worse as they are buying up areas least affected by climate change. As land value increases even baby boomers will lose their land because they can’t afford the real estate taxes and costs of living in prime areas. Ultimately, only the rich will enjoy owning property.
My mom is pre-boomer and we’re Gen-X. We have a house (bought in 2008 when you could still get a low rate fixed APR mortgage), but it’s a small house four three people in a town where we don’t want to live. We will have to wait until she dies and we inherit her money and sell her house before we can move. I hate that I have to wait for my mother to die to live a better life.
did this magazine get renamed “olds”?
