Gen Xer has median age of 43, has the highest median income of $106k. They are the one who is really buying the expensive homes.
Gen Xer is a lot smaller than Millenials. Imagine how crazy the market will be when the millennial’s median age reaches 43, that’s 16 years later
Considering the large millennial population and its long span of 20 years, we should be able to buy houses blindly today and sell in 16 years later for a good profit. Assuming boomers and gen Xers can successfully persuade Millenials to continue our nimby attitude
If Fearless Leaders had his way, millennials will spend all their hard earn dollars renting self-storage space that unfortunately will leave nothing for a useless thing like a home. Oh well, they have that nice, shiny key to that nice storage locker. Talk about insulting the intelligence of some pretty darn smart young people…
Otoh, I think gen Xers are lucky and they can command a higher income due to less labor supply in their age group. Also they can buy houses for cheap due to their smaller population. I’m wondering whether the 2008-2012 housing bust was also partly due to the transition from large boomer population to smaller Xer population.
When the transition from Xer to Millenials happens, we could have a reverse of 2008-2012 bust, instead we may get a super boom in 2025-2029.
That is an interesting observation and surely people have debated as to what will happen when the huge Baby Boomer population finally goes away. Would there be technically a surplus of housing? Would there be any money left in Social Security after the BBers take their share?
Xers will get a high income due to less workers competing with them. Early Millenials also will reap the benefit since they will be promoted really fast.
Xers may suffer politically due to its small size. It needs to find allies either with Millenials or boomers
A real problem could evolve if people do not add to the gene pool. Yes, I am guilty. I married later in life to a woman who was also older so we didn’t want to risk having a child with issues. Japan has long had this problem. Let’s be honest, it was common for our generation or older to see families with 3-4+ kids. Now, you would be lucky to see someone with more than 2 kids. Too expensive, plain and simple.
Millenials and Gen Z have twice the population of Boomers…Plus they will receive up to $100trillion in inheritance from Boomers and Gen X in the next 50 years…When youth start buying it will be a huge boom…Probably peaking 10 years from now and then plateauing for another 20 years.
Smart Millenials are buying now…their piers will never catch up…
Good point about the inheritance money. Of course, my pennies (my share of it anyway) will go to UCLA. Next time someone goes to the Men’s bathroom in Pauley Pavilion and you see a golden urinal dedicated by sfdragonboy, well, that’s where my money went. Have a tinkle, on me…
Your inheritance will go to your wife…I already told my wife she can get a boy toy when I am gone…My grandfather gave all his money to his eldest son…The rest of us got nothing…The son was married to an ex stripper…she ended up getting it all…
Ah, that is why I purposely mentioned my share of it. Wifey knows my love for UCLA and I told her that she is to donate some of my money to UCLA when I kick it. She better not fork over only a $20 bill, or as I told her, I would haunt her for the rest of her life…
Wow, you are the man! Already told her she can have a boy toy, what a guy…I guess I am ok with it too…as long as she screams out my name, not his…
I feel like Gen X is the generation where the high skill vs. low skill pay gap is biggest. I think Gen X is increasing the income and wealth gap in the US in a major way.
If you are a gen-xer and you still don’t own a home right now, you’re very likely to be a renter for the rest of your life… and there’s nothing wrong with that; it’s just a matter of lifestyle choices
