That works if there’s 1 kid. What about multiple kids and 1 home? Also, people are living longer than ever. They could be in their 50’s before they inherit their parents home. Do they really want to rent into their 50’s?
More than 1 kid: probate sale of home to split fortune. Kids will use proceeds to invest or splurge.
I think so people will have no choice but to rent into their 50s.
$100 trillion in wealth will be transferred from boomers to millenials in the next 50 years…$2trillion average per year. Even more in 20 years. .Probably $4 trillion a tear at the peak…That is a shit load of money in a $20 trillion dolllar economy. .Will drive up the price of everything. Especially homes in coastal zoning restricted cities…Millenials are all ready getting down payments from rich boomer parents…This is much more common than 40 years ago and is already inflating prices…
How come my dad wasn’t rich???
Well, he could have been and you could have turned out way different. I have a feeling you ain’t complaining too hard…
Yeah $100 trillion may be a high estimate. .That means every boomer is worth a million. .well at least homeowners in the BA are…
Boomers may live to 90s and even 100s. Millienias won’t wait. Also most boomers don’t have long term care insurance. Will kids move back to take care of parents in exchange for the house? If kids don’t help, all the inheritance may be spent on long term care at $10k per month
The transfer won’t be wide spread though. The average boomer has <$50k saved and the median home is worth under $300k. The transfer will be very concentrated and may not be as great as we think with Buffet, Gates, Zuckerberg, etc leaving it to charity. .
Big deal. Why am I just a poor soul roaming around the bay when my ancestors used to kings in China? This is life. Stop complaining
Exactly. Hardships make people stronger.
When they get inheritance, they normally sell as they do not have capital gain tax as they get the home on step up basis. This will happen most of the cases.
So what? I like to complain. This is what this forum is for! You don’t like to hear people complaining go to the woods and become a hermit.
I was complaining too
How are the home prices there???
You can buy acres and acres with abandonment
Interesting and impressive…
This is crazy. I fail to understand the mentality behind this mania. These currencies add no value whatsoever to society. At least you can use tulips to decorate your room…
It’s anti government and anti American. Yellen will be mad
This is exactly why I think the stock game is fixed… (yes, they should be prosecuted to the full extent and have to pay fines and penalties)