Or zero cap gains if you sell to Blackrock.
Kick out the illegal immigrants and there will be less demand for the smaller homes.
People know that once you move, not only will it be expensive in the tune of 10,000 just to move your personal belongings, but your property taxes will be significantly higher even after a year when homestead kicks in. They think people are stupid.
Commie rubbish.
With Bidenomics forcing many of the Boomers kids and grandchildren to live with them I argue that their homes aren’t big enough. They should put their properties into an inherentable trust to insure their families futures.
if they sell them and have a mortgage they will have to finance something else at a much higher rate.
if they sell them and its paid off, they will have to pay a huge tax bill on the appreciation and then still have to pay outrageous amounts for something else to live in
If they instead hold onto it until they die, the basis resets and their heirs can sell it without paying taxes or needing to purchase something else to live in.
This is why.
I can hear these liberals now —
“It’s not right. Six Mexican families could live in some of these homes ...”
Here’s the problem. Us old folks own our homes. Regardless of what they sell for, we need to replace them. Whatever we’d buy would generally be a lot less desirable given the prices and how they’re building them now. Also, us old folks just hate change. It’s very disturbing, psychologically. And, what’s my motivation? I want to do something to the younger generation? (Let me check my giveashit meter...nope, nothing.)
Comrade, let’s start with that vapid new NPR CEO’s abode or abodes.
No, census record, property assessments.....plenty of room? Stand by for room mates. Who won’t contribute to maintaining the residence.......
Come on out a say what you really mean Karl! How can the Collective force the Boomers to vacate their homes for the Greater Good?
I live in a two bedroom house in which one bedroom isn't used. I keep the door closed. It's almost completely empty of everything that was in it. It's just being used now to store a couple of things and that's it. I got the rest of my belongings stored in nine boxes, except of course for items used to cook and eat with. I even got rid of some older PC equipment.
In my older age, and because I'm disable due to Long Covid, I've downsized greatly in the past 4-5 months and I'm ready to move into a smaller place once I can find one. I nice little one bedroom place would suit me just fine.
when my mom had to go to the loony bin my dad sold our family home the only one we ever knew and got a one bedroom apartment down the street from where mom was it was his decision not anyone eless
The problem seems to be with the supply of houses.
No sense in expecting Boomers to sell their house for less than it’s worth. That’s just silly. No one would do that regardless of what year they were born! Lol.
3D printed homes en mass are going to be a thing at some point.
In general, the leftists are the wealthy ones living in girnornmous houses and not having enough children.
Perhaps NPR is collaborating with Venezuela or Cuba.
This boomer never owned a home. I raised my two sons alone in apartments. That’s all I could afford at the time. By the time I could have afforded a house, I didn’t need or want one. At least neither of them will have to deal with getting rid of a house when I’m gone.
We finally worked our way up to the home of our dreams 10 years ago, and we have frequent houseguests, so I don’t give a rat’s patootie what some bureaucrat thinks what should do with it. Tough beans! We plan to live out our years here.