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Captain Marvel Punch - BOOMERS: When I was your age, I made $32k a year and owned a home, a car, and had no debt. Stop being such whiny brats. MILLENNIALS:

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BOOMERS: When I was your age, I made $32k a year and owned a home, a car, and had no debt. Stop being such whiny brats. MILLENNIALS: Rail &Buswa

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ObadiahtheSlim
ObadiahtheSlim

I don't get the hate on the boomers for home prices. Population keeps going up. There is only so much land so prices are going to go up too unless you're living in a less developed area like some of the more rural states. Rent Control is also making the situation worse in cities like NYC. That drives up the cost of low end housing and makes the quality of low end stuff worse. Rent Control, I might add, that is fairly popular policy with the left leaning Millenials.

Then there's the shortage on skilled labor hurting new home sales. There is a serious shortage in HVAC, electricians, etc. It's causing serious delays in home construction and driving inventory down. Good news if you're getting into those lines of work. You can practically name your own price and have work lined up for months. Bad news if you got your Underwater Basket Weaving degree.

They are also forgetting that interest rates were far higher back in the 70s and 80s. In the 70s they were around 7%-10%. Then after the Savings and Loan Crisis started, they spiked up to above 15%. It was near impossible to get something below 10% even in the late 80s. Contrast that to the past decade of low rates. Rates are just now getting above 5%.

So the tl;dr is, Boomers aren't really responsible. They didn't have it as easy as you think, and Millenials have done absolutely nothing to make it better.

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