My opinion. I disagree. Boomers do want to leave an inheritance. But many have been milked dry by their kids, after trying to provide well for them in an inflationary era. Also by trying to provide them education and opoortunities And the cost of elder care takes the rest.
Boomers - the first generation in humankind who didn’t care if they left an inheritance for their children - maybe be forced to give their homes up via market forces.https://twitter.com/Cernovich/status/1162438455772585985 …
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They don't have to sell them. They will rent to those that can't buy and draw income.
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Here in Vancouver it's at the point where many can't even afford rent
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Yes depends on the market been hearing about Vancouver for the last few years.
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I don't know what has changed but my first wife had large student loan debt and she majored in fine art with a bachelors so could not find work in her field so worked as a file clerk and worked up to supervisor. We paid off her debt and bought a house.
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Tuition prices have grown anywhere from 2-7x faster than inflation depending on your state.
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it's an evil generation. They willingly voted every bad idea into law all over the West.
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Ummm I’m all about ragging on the boomers but this is a bad take. Plenty of boomers have been thinking of their children and leaving them what they can. It’s been tough out there to save anything.
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I still have student loan debt. The CREDIT BUREAUS could restructure how they “weight “ student loan debt
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Most are on income-based repayment plans for their student loans. ex. 100,000 debt with a $200 month payment is common. Mortgage qualification guidelines are not so generous. Fannie requires 1% or $1000 and Freddie: 1/2% or $500. Common deal killer for mortgage pre quals.
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I’ll take a 20-40 acre farm to grow cannabis on.
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Going to sell to me cheap!!
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True story. My Grandpa spent everything. Both sets of my wife’s grandparents said they will be leaving nothing.
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"Turn on, tune in, drop out". Not only didn't care about their progeny, but don't have enough appreciation of their inheritance to at least preserve it. We're seeing on grand scale what happens to rich daddy's company when dad dies and spoiled rich kid takes over & milks it dry.
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Reverse mortgages.
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Always amused by the notion that you gotta leave $$$ to kids. I gave them life, education, guidance, and they are self sufficient. If there is anything left, it is theirs. I also expect nothing from my 90+ yo parents, tho getting them to spend the money is futile.
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There are thousands of them making a living in Big Cities and making three figure salaries
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Sadly this is true, both my parents are like that, even though am Cuban, this is beyond nationality, boomers are a very selfish generation, getting everything and given everything
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Reverse mortgages followed by another housing crash. 10-15 years
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