The Boomers own 25% of the real estate in America. And they believe that they are rich, because the current value of their homes is very high. However, the market has already dropped over 50%. And no one realizes that their retirement plans have just collapsed.
To get an idea of the scale i am talking about, imagine in the near future, that there are entire suburban housing tracts devoid of humans living there.
There are MANY reasons that this future will come to pass. And several of them were caused by the Boomers. You cannot pull out pillars that support society without consequences. Well, the unCivil War between the Wokeians and the MAGA is just one of the downstream effects caused by getting rid of those stuffy old societal laws.
Remember that people used to get married before sex? Well, the "Summer of Love" disposed of that. And, what it was downstream from that? Single parent households. Which means two houses needed where only one was needed before. Thus creating double the demand, and increasing the price of houses.
But, that leads to something even worse. The birthrate is dropping, and the suburban single family home is just not suitable for the growing cohort of single men without prospects of a good wife. (over 50% of young men). The aging inventory of suburban homes are just not desirable anymore.
So, less people to buy the Boomer's houses, less people who can afford to buy them, and less people who even desire to buy them.
Boomer, with houses, think that their retirement is set
This is the whole of the problem. The Boomers bought the line "You house is your biggest asset", and since they are the largest beneficiary of price inflation of assets, they believe that their information is correct.
However, your house is not an asset. And the Boomers are about to realize this in the harshest way possible.
Until you sell your house, the price is just a number in your head. And, as time goes forward, it is separating further from reality.
So, Boomers will run into reality telling them that their houses are not worth what they thought. And then, things collapse. And Boomers end up realizing that they have nothing for retirement.
No one to buy the Boomer's houses
People can't afford the houses
People don't want single family homes
People, to buy all the Boomer's houses don't exist.
The economy is going into the Greatest Depression. Everyone, except the govern-cement, agrees that we are in a recession. Many say that we are in a depression.
Job numbers are shrinking. Store chains are closing. Sales are DOWN, says Amazonium. There is just not the income to afford the current home prices.
After the Boomers, all the generations are smaller, and getting smaller still. After all the Boomer's houses are dumped on the market, we will see many empty houses. Houses that will never be filled.
People aren't getting married. And those that do, aren't staying married. Marriage means kids. And kids means a big single family house. No marriage means no big house. People no longer want the suburban single family house. It does not fit their life.
No one can afford the high house prices, and even worse, they do not want those houses. And, even worse, the population shrinking means that there will nobody to live in the houses.
The most horrifying statistics
There aren't enough youngsters making lots of money to pay for Social inSecurity.
There aren't enough care facilities to deal with the coming Boomers.
Medicare wants your assets before they will put you into a nursing home. Well, the Boomers were going to use the house to pay for their "retirement", unfortunately, they will never see that money.
The younger generations feel that they will never get Social inSecurity. It won't be there for them when they are old. So, why pay for it now?
People are leaving the cities. The cities are falling apart. The stores are closing. Crime is on the rise. At some point there will just be empty houses, and that means the sale price of those houses have dropped to zero.
Instead of solving the problem with housing being too expensive, and there not being enough housing, Boomers have pushed for regulations to keep new houses from being built. And, they are about to reap the whirlwind that was planted.
Yes, Boomers were propagandized into this, believing it was just good policy. Keeping their home values high by not letting their cities become overcrowded also means that there are no houses for their children.
When sex was untied from marriage, all the ills of overindulgence have come back to bite them
We are about to see the housing market crash get destroyed. And after this, even the term "Real Estate" will be no more.