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by antonymoose
173 days ago
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Not going to pick on Boomers specifically, but I entered the workforce in 2011. I watched my late Gen-X and Elder Millenial seniors swoop up cheap houses post recession for cheap rates then flip and sell them and go remote in cheap locations. I’m talking buy at 300k and sell at 800k-1M type of deals in 10 years. While you’re right, there is work involved on the part of the boomers, the amount of leaving scorched earth for future generations is infuriating to watch. |
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This may be true but many just a few years earlier lost everything. The people who bought houses cheap were the ones who saved diligently just like you may be doing, who had money to take advantage of an opportunity. I was not one of these lucky ones but I can't fault people for making good financial decisions. If you want to be pissed at anyone, be pissed at the ones who bought houses they obviously couldn't afford, and the people behind the exorbitant loan issuances for overpriced houses. THAT is what we will ultimately suffer for. Not someone buying a house that they can afford at a time when everyone is desperate to get money.