the way they used to, and that the average duration of staying in a home has risen from six years before the 2008 crisis, to nearly 10 years today. Moreover, if survey responses of older homeowners prove accurate, this trend will continue, limiting the supply of resale listings, and potentially pushing up home prices in markets with limited new construction and strong demand.
And before you panic and abandon plans to buy a retirement home in Sun City or Delray Beach, consider a different perspective about the predictions of massive deflation in such communities. Numerous academic studies have found that differences in house prices across cities are more closely related to variability in employment rates, to growth in real incomes and to construction costs than to demographic shifts.
How seriously should we take predictions of boomer-induced home price concerns? When it comes to predictions of future real estate prices, caution is warranted. Consider two famous examples.published by two well-respected Harvard economists predicted that the aging of the baby-boomer generation would reduce the demand for housing and cause a significant decline in real home prices.
opinion Well, based on the ever changing definition of what a baby boomer is, that could be just about anybody.
opinion Some of the blame belongs with boomers. Some does not:
opinion It’s simple supply and demand. If you can’t afford a house where you want to live, get a job! 🤬
opinion No it started with the neanderthal. ... .
opinion My first home came with a 19 3/4% mortgage. So cry me a river.
opinion Why is everything the baby boomers fault 🤷🏼♀️🤣😂
opinion Zoning laws and the people who support them are responsible.
opinion I am waiting to see the demand for more disabled accessible housing and more affordable housing go up as boomers get older and have more health problems and a fixed income.
opinion Totally did!
opinion California ruins itself just fine.
opinion Definitely
opinion No. That’s why it’s a market, it adjusts itself to supply and demand.
opinion yes. all old straight white male boomers. every one of them.
opinion The free market is supposed to respond to the demand of humans, not the other way around.
opinion GOP BLOCKED RAISING THE STARVATION MINIMUM WAGE for 10 years, Rent/Groceries go up. Teen, Young Adult and Elderly Homelessness is skyrocketing, as is there suicide rate, which hit an all time low under BillClinton, now is at GOP Great Depression levels.
opinion Not necessarily.
opinion I hope so
opinion No, the Millenniuns are
opinion Maybe...?
opinion They already did back in '08.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: latimes - 🏆 11. / 82 Read more »
Source: latimes - 🏆 11. / 82 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »