Home Ownership Rate Drops Among 50 to 64 Year Olds (Podcast)

[OfTheCross]

Jennifer Molinsky, senior research associate at the Joint Center for Housing Studies at Harvard University, tells Bloomberg Radio’s Denise Pellegrini that this drop in home ownership could mean trouble ahead as the group starts to retire.

Running time 01 minute

https://www.bloomberg.com/news/audio/2019-10-17/home-ownership-rate-drops-among-50-to-64-year-olds-podcast


Says that those people never recovered form the financial crisis.

[DCPatriot]

Jennifer Molinsky, senior research associate at the Joint Center for Housing Studies at Harvard University, tells Bloomberg Radio’s Denise Pellegrini that this drop in home ownership could mean trouble ahead as the group starts to retire.

Running time 01 minute

https://www.bloomberg.com/news/audio/2019-10-17/home-ownership-rate-drops-among-50-to-64-year-olds-podcast


Says that those people never recovered form the financial crisis.

That may be true, but it's also because of the complete Twilight Zone...Bizarro World the American Media and Democrats have created.

I'd stay put...but fixed rates this low??  It's insane not to own real estate if at all possible.

But that has created "grid lock", where the move-up buyer we're talking about here, is just NOT MOVING.

[Cyber Liberty]

That may be true, but it's also because of the complete Twilight Zone...Bizarro World the American Media and Democrats have created.

I'd stay put...but fixed rates this low??  It's insane not to own real estate if at all possible.

But that has created "grid lock", where the move-up buyer we're talking about here, is just NOT MOVING.

The "Divorce Generation" is moving into this age bracket, where most have been divorced at least once.  Who the Hell wants to buy a house when there is a spouse willing to jump on you and take it at the first opportunity?

[truth_seeker]

The member, the source articles are mainly from the left.

Instead of worrying about older folks, they might instead by worrying about their younger generations. But they are busy planning

--gurantee incomes, even for those that will not work.

--free healthcare for all

--free education for all

Why not free food and housing?

--free busfares, or skateboards for all.

[OfTheCross]

The member, the source articles are mainly from the left.

Instead of worrying about older folks, they might instead by worrying about their younger generations. But they are busy planning

--gurantee incomes, even for those that will not work.

--free healthcare for all

--free education for all

Why not free food and housing?

--free busfares, or skateboards for all.

shoot the messenger

[InHeavenThereIsNoBeer]

Those people are crazy.  There's never been a better time to buy.  Housing can only go up from here.

[DB]

That may be true, but it's also because of the complete Twilight Zone...Bizarro World the American Media and Democrats have created.

I'd stay put...but fixed rates this low??  It's insane not to own real estate if at all possible.

But that has created "grid lock", where the move-up buyer we're talking about here, is just NOT MOVING.

Printing money with reckless abandon makes fixed assets more expensive in terms of dollars as the money becomes worth less.

[InHeavenThereIsNoBeer]

Printing money with reckless abandon makes fixed assets more expensive in terms of dollars as the money becomes worth less.

True, but it's a pretty sweet deal when you're the one printing the money.

[catfish1957]

Seeing a lot of TV ads luring seniors into reverse mortagages. 

Besides being a sign of the sign of the times,  are these "outfits" becoming owners of these homes, and is this option impacting the Sr. Ownership statistics.

[montanajoe]

Those people are crazy.  There's never been a better time to buy.  Housing can only go up from here.

@InHeavenThereIsNoBeer
 
Do you have a chart going back to 1970 or so, seems to me housing is very generational dependent, the baby boomers  wanted houses and drove the prices up in the 70's and 80's that were way above what was expected historically. Now that we are downsizing or dying off it would make sense that prices would decline.

I'd expect this trend will continue...

[DB]

@InHeavenThereIsNoBeer
 
Do you have a chart going back to 1970 or so, seems to me housing is very generational dependent, the baby boomers  wanted houses and drove the prices up in the 70's and 80's that were way above what was expected historically. Now that we are downsizing or dying off it would make sense that prices would decline.

I'd expect this trend will continue...

Isn't that trend showing houses are more expensive than ever?

[InHeavenThereIsNoBeer]

@InHeavenThereIsNoBeer
 
Do you have a chart going back to 1970 or so, seems to me housing is very generational dependent, the baby boomers  wanted houses and drove the prices up in the 70's and 80's that were way above what was expected historically. Now that we are downsizing or dying off it would make sense that prices would decline.

I'd expect this trend will continue...

I don't have a chart, but yes, prices went up sharply in the 70s and then slowly in the 80s, and have generally risen almost constantly (except after the last housing bust).

The point I was, sarcastically, going for by posting that chart is that housing prices are now above the absolute madness that we now refer to as the housing bubble.  So, maybe 50-64 year olds are owning less homes because they're really expensive and they learned their lesson the last time?  [Or maybe they didn't, and they're renting so they can put all their money in stocks?].

[Applewood]

Could it be that some people are retiring earlier than age 65 and when they do, they don't want to have to deal with the maintenance and taxes for a house; so they are dumping the one they have? 

[Snarknado]

50-64 is the age group where your home used to be the gathering hub for a gaggle of children and grandchildren. Today they have fewer and more scattered children plus the higher divorce rates - many probably figure that home ownership isn't worth the hassles.

Maybe also a deterrent to your adult children moving back in with you?

[Applewood]

50-64 is the age group where your home used to be the gathering hub for a gaggle of children and grandchildren. Today they have fewer and more scattered children plus the higher divorce rates - many probably figure that home ownership isn't worth the hassles.

Maybe also a deterrent to your adult children moving back in with you?

Now that alone would be a good reason to sell. 

In my neck of the woods, I'm seeing more and more of these 55+ communities springing up.  Pay a certain amount each month and you get a nice condo/apartment with everything done for you.  No maintenance, no taxes -- for some you don't have to cook, clean or do laundry.  And they have amenities -- golf courses, hiking trails, swimming pools, movie theaters and so on.  Don't even need a car unless you want one -- a community van will take you where you want to go.  Of course, the prices can be steep, but if you have the money, it might be the way to go.  Might be more cost-effective than keeping your own home.