1. Notice that "large homes" and not defined.
2. It was the boomer dream to own a home and then retire with a paid off mortgage.
That said, seniors moving out of 2 story homes makes sense, and they don't have to downsize, just get a large ranch.
However, I believe when people look at all the crap they've accumulated over the years they don't know how to get rid of it so it's easier just to stay in the current home and let the heirs deal with it.
By the way, I WANT GRANDKIDS!!! Daggarnit!
The big question when deciding what a society needs is, “Who decides?”
All the Milly’s have to do is make it worth the Boomer’s time.
Looks like the authors think that 3 bedrooms defines what a large home looks like. Like the little ranch my wife and I live in, where all 4 grandchildren are over almost every day. Of course, we have a basement as well, so maybe this is larger than large.
It’s always the “Baby Boomers’ fault”.
Millennials couldn’t afford my baby boomer house.
Oh boy, here we go.
My elderly parents live in a 5 bedroom split level single family home. They raised 5 kids there. They’d put it up for sale but it needs at least $100,000 in work which they don’t have just laying around.
Then there’s the issue of almost no one having that many kids these days, everyone wants smaller homes as “starters”. 2 identical models went on the market about a year ago and they haven’t sold.
Add to that the fact that they’re in Illinois which has lost population so there just aren’t any buyers.
So I’m sure the next step will be for these idiot “experts” to demand a government program to “help” which will, of course, only make things worse.
L
And where am I supposed to go? A $350k 3 room ranch? Nope.
“...They’re consuming a lot more house than they really need...”
So damn what! It’s called private property. No business of yours if I want a big house all to myself. I paid for it and pay the property taxes.
Next thing they will complain about old boomers driving big cars. /spit
My home is paid for. I’m not moving to live in a Crackerjacks Box.
Misallocation of the housing supply? Whaha
Maybe if the traitors of both parties didn’t let in 150 million “immigrants” and “refugees” there would be plenty of housing, our roads wouldn’t be overcrowded, and our cities wouldn’t be cesspools. But “diversity” and “open borders” is the national religion despite the religion being founded by 2 truly sick, evil individuals in 1965 - Ted Kennedy and LBJ. Sick, sick stuff. Their goal to destroy 1950s America has been achieved in very short order. Leftists have an irrational hatred of peak 1950s America and the last 75 years have been spent trying to destroy it.
Well, I bet the government really wants to "fix" that problem! There are millions of illegal immigrants who would love to live in a big 3-bedroom house in the suburbs. Joe will make it happen.
I sold my house to a millennial with kids and bought an even bigger house
Did Marx author this? Some millennial that hasn’t worked hard for a down payment, paid decades of installments, property taxes, and house repairs?
“They’re consuming a lot more house than they really need...”
“Staying in a large home as an aging empty nester isn’t just a misallocation of the housing supply,.”
Millennials can earn a house just luck everyone else has. No one owes you anything. Work for it.
Because they're paid for, and they can't afford a new 'smaller' home that costs more than they can get for their 30 year old paid off home.
The number one cause for larger homes is not the builders or owners. They are the result of local building codes. Long ago many years ago local codes were adopted that forced the building and occupancy to adhere to a standard of minimum square feet. Why? Because this is how they tax homes and they had to slip in a minimum to make sure they were getting more in taxes. It began as a local tax scam that went viral and it still holds true today in most municipalities. Local codes just will not allow homes to be built or occupied unless they are of a minimal size in square feet.
So if they want to blame someone, they need to blame their own local building and occupancy codes. And to this day these codes are still in place even in almost all blue democrat areas.
How can it be hurting them since they still live with mommy in her McMansion??
My first thought, even before reading it!
Why should someone give up their home? It belongs to them. Milennials aren’t owed someone else’s home.
Perhaps if the commies got out of the way, milennials could prosper instead of wanting what belongs to someone else.
We began with a starter house, far from perfect, and moved up as we could afford it.
We didn’t get the big house with all the good stuff early on.
The baby boomers will give them up, as the homes become too much. I think the smart baby boomers are giving them up early, to get the best price. Once they are forced to sell their homes because of age, they are going to take a hair cut because of a surplus of homes on the market.