Boomer Financial Holocaust #2

Your cost analysis gives you the answer already. Buy out the remainder of your lease, save roughly 7 grand in rent, move back in with mom while you look for a new place.

You think that's bad? I had to pay $500 a month to my Boomer parents for a 10x10sqft room in a townhouse that's now surrounded by a bunch of niggers and mystery meat

>dude just buy a damaged property in an unincorporated town that's 50% full of niggers, it's that easy

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thank you user

Why, goy. The pseudo boomer kikes will import millions of chinks, niggers and parjeets to inflate costs and fuck descendents out of their heritage and future for shekels

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Someone continued the thread while I was asleep.
>mcmansions will just disintegrate within 50 years. postwar suburbs are just refugee camps for white people.
>The thing that's missing in your equation is that most of these Boomer suburban homes are made of poor quality materials and soft woods which have a total lifespan of 60 years max, and that all these homes that were built in the seventies are going to be be uninhabitable in a few years, and this will turbocharge the collapse in housing value and of boomer wealth. Expect to see a bunch of angry boomers working into their 90's. Maybe some of them will wonder what happened and can get redpilled but I imagine most of them will continue to blame everyone but themselves.

These bear repeating. These homes will literally be falling apart, if they aren't already, within 10-20 years. Let's say you have two cars. One is pretty new and will last a long time. One has 300,000 miles on it and is held together with duct tape and prayer. Which one is more valuable?
Dear boomershits:
If you wanted your fucking house to be your retirement "investment" maybe you should have built it out of better material than bubble gum and cardboard. On top of that there remains the location issue (younger gens don't want a fucking long ass commute to the desolate wasteland that is suburbia) and the affordability issue (younger gens are broke as shit from wage stagnation and fuckhuge student loans, there's no way they can buy a $600,000+ house, especially when it likely needs massive repairs and renovations to keep it standing another decade.) It's just not possible. Say we're lazy or whatever you please, but the fact is that for any given job, even "good" jobs, the salary/wage has stagnated since the 80's while cost of living has skyrocketed, college has become mandatory and price of that has also skyrocketed, with interest.

>cheap houses everywhere
>rural bumfuck alabama
Cheap houses mean jack shit unless they're in proximity to A FUCKING JOB THAT PAYS ENOUGH TO PAY OFF THE STUDENT LOANS. The student loans are the defining quality of the younger generation, say what you will but most had no choice. "If you don't go to college you'll flip burgers until you die of old age. That'll be $50,000, thanks goy."
Did they get jewed? Yes. Does that change the matter? No.
Younger gen will go where high paying jobs are, because they NEED TO to pay off the loans. That means a city. City prices for rent/buy are all skyrocketing. In my city what sold for 150k 10 years ago is going for literally 800k right now. There's just no way that can last. Even if you wanted to, no one can afford that bullshit, not when cost of living has skyrocketed and wages have stagnated. It's not going to be sold for that price.
It does not matter what sale price you want to get (which is what boomers are basing their retirement on.) It matters what someone else can afford to fucking pay. And these prices are not going to happen.

You're dumb as shit. The suburb houses cost more in tax money to maintain all the roads, electric lines, sewer pipes, water pipes, gas pipes, police and emergency service, etc. for than compact apartment buildings. All that fucking sprawl is cheap for developers and for home-buyers up front, but it costs money perpetually to maintain that expanse of infrastructure.
So if anything suburb niggers are the ones costing the system more in taxes than they fucking pay towards it.

>To Rent or To Buy, that is the question
I can't believe this is even up for debate.

>do i pay for nothing or do i pay for something
Just spend 10 seconds thinking about this: Can your sell the house you live in while renting? No, because you don't own it. That's how bad renting is. People rent because they have to, not because they want to.

Boomers can't seem to understand that location is almost even more important than the house or apartment itself. Nobody wants to drive or take the train for 1 or 2 hours every day. It's like having an even longer work day and it'll just wear people down.

Imagine having to drive 2 hours, work a manual labour job then drive 2 hours home. How brutal would that be. Boomers who live near their jobs or don't work at all because they live off being a landlord are telling millennials to live far from the city. It's so dumb.

So to repeat the primary reason for the thread. Because it has devolved to arguing that "you can still buy cheap houses (in backwater nowheres, that are falling apart as we speak from crappy build quality).
The problem is that boomers (age 50-70) are about to retire. The largest generation, all at the same time, and they will likely sell their massive house when they do so to "downsize". All of these houses going on the market at the same time increases supply, drastically. Remember that new construction is still ongoing (primarily apartment complexes with desireable locations. Location location location.)
Boomers have based their retirement savings on selling their house at this delusionally high price.
The houses will not sell at that price. Supply is dramatically increased and demand has all but vanished. No one fucking wants to live there.
The price WILL fall like a lead balloon. We will have an entire generation finding themselves thrown out on their ass just as they think they're going to retire.
This will have massive economic consequences. There is no amount of derivatives or other financial wizardry that can sell something no one wants for a price no one can even afford to pay in the first place. It's not going to happen.
We're gonna see some shit. Boomers will get their assholes literally ripped out. And this is happening within the next 10 years.

Boomers have worked hard to create a world with no future. Many of them did not realize that future would catch up with them in their lifetime.

>Boomers can't seem to understand that location is almost even more important than the house or apartment itself.
Location is the end all be all of selling a property. You could have the nicest house ever made, but if it's not close to my job I don't fucking want it. That's the problem. Jobs are concentrated in cities, and with traffic having gotten so shit-poor from crap-tastic planning and cage dependent policy, commutes from these suburbs are ridiculous. Especially in smaller cities and large towns, where most boomerfucks chose to live. All the jobs are in the larger cities now, economies dried up everywhere else.
No one fucking wants these homes.
LOCATION IS THE SINGLE MOST IMPORTANT ASPECT OF SELLING A HOUSE.
Even if, even IF, younger gens were willing to commute 2 hours each way. The house quality of these fucking mcmansions is abysmal. You have a shitty quality, that's old as fuck and falling apart, that is ridiculously overpriced, that is in a terrible location, and a population that is financially hard-pressed and relatively poorfag.
This was the retirement plan of the boomers, to sell their fucking mcmansion for a million dollars and retire on it.
And we're gonna find that is not going to happen. So now what happens? Imagine they were all planning on having a million dollars to retire. Instead they find they have maybe 250k. What happens?

Personally I choose to rent, I’m only 10 minutes from work and live in a decent complex not full of niggers. I’d rather wait it out a few more years until boomers die off and there is a glut of cheap homes on the market instead of buying now over “muh cheap interest rates”. I’ll wait & take a house for $50k with a higher rate than the same one at $150k with a lower one.

the biggest issue with American homes if that they are built on soil without piers run through it to support the foundation. One good drought and your slab and sewer will break causing a death spiral.

There will be a lot of cheap big houses in the coming decades. Many of the boomers' McMansions will be left vacant or spics will cram two dozen people into them. Boomer's parents had small houses, but they made the most out of what they had and the houses were built to last for a long time. I'd much rather live in a small comfy house that was built in the 50's than buy my dad's McMansion.

only buy a home that old if everything has been replaced and updated

The fed has stated many times that they will not raise interest rates any further than it would take to maintain 2% inflation. Your plan sucks.

Fuck that. You want one that hasn’t been hacked up and filled with disposable shit like vinyl windows and doors. A 50s fixer is a diamond in the rough.

I just live in a "flyover" metro area of 500k. Takes 15 minutes to get anywhere in town, 30 minutes during rush hour.

My 3 bedroom 2.5 bath house was $124k. I was able to afford 15 year mortgage after putting ~20% down.

Solution to most issues is to not live in a fucking rat-infested shithole of a city.

If you millenials got off your ass and worked hard then you could have nice things too. Instead your entitled attitude continues to show how stupid you are. No one is going to pay you 100k/year right out of college with your degree in "Business Management." You need to work your way up the ladder.

Stop:
- Playing video machine games
- Jacking off to cartoons and traps
- Put your cellular telephone down and gain some social skills
- Stop blaming others and making excuses for your shit choices

I bought a house built in 1957 that was completely renovated. It cost a fifth as much as my dad's McMansion and it's made out of real structural brick and wood, not compressed cardboard and decorative brick. My utility bills are around $150 a month. My dad spends at least a grand a month on utilities.

I approve of this thread
Good job op

t. 23yo yuppie saving for a down payment

dude, those old bone stock houses have cast iron sewers (Literally rusted into nothing by now). galvanized steel pipes (Hello water leaks and red shit spurting out of the tap like a horror movie) and bare aluminum wiring (Ur house gonna burn down). its going to cost almost 100 thousand dollars to replace all of that shit and you have no choice but to do so. Since all of those will eventually destroy the home.

Babbie wants house
Doesn't know how debt works
Blames an entire generation that did more than its own
Sounds like a nog desu

pretty awesome, throw some solar panels on that bitch

im 19. im a welder making $45k a year. i live in a motorhome but i will be able to buy a little 50s house in like 2 more years. i want to buy it outright so i dont become a debt slave
this. they made stuff better. i restore old radios and tvs from back then and have a classic car. american products have fallen from grace bigtime.
nobody asked you nigger

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> be millennial
> move into large city where population outnumbers the avaible housing
> complain that they can’t afford anything
Get a fucking job that allows you to live in a less populated area. Just because there isn’t a Starbucks down the street doesn’t mean there isn’t good paying work in the area.

MAX
A
X

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imaging projecting this hard

>cast iron sewers
perhaps, but since they're buried fairly far down, they still work as intended. only issue is tree roots
>steel pipes
yes, these are shit because they clog up with rust and particulate much faster than copper. my mom's 50s house has this issue
>aluminum wiring
this is wrong. most 50s homes used copper. it was only a short period in the 60s that aluminum was really used. my mom's 50s house has copper with no ground wire, but my house built in '68 has all aluminum with ground.

Friendly reminder, if it doesnt have at least 5 acres it isnt worth buying. The only way to insure your real estate value doesnt plummet from spic or nigger infestation is to own land. Parasites need urban areas.

do it yourself lazy faggot. mechanics, electricians and plumbers count on the laziness and stupidity of their clients. t.replumbed, rebuilt and rewired my 1970s motorhome. it cost me like $400 to do it and the motorhome itself cost $1200. i now have a 30 foot diesel motorhome for $1600 thats worth $7k or so

I think a lot of jobs are moving towards teleworking (I work for a large financial institution and myself, along with all of my peers, telework). I think you're going to see this trend grow. Couple that with the growth of Amazon and 2 day shipping, as well as grocery store delivery, we can move to a non-crowded paradise away from the shithole cities filled with needles, niggers and feces.

And your plan sucks if you’re buying now when you can wait 3-5 years and get it for half off or maybe even more.

Burying a cast iron sewer pipe deeper will only make the situation worse. The only ones which are in any serviceable condition are elevated above ground inside of a pier and beam home

This is the only fucking reason they want to flood us with shit cunts. They have too. Just wish the cunts would be honest about it instead of "muh we need diversity you racist"

in most cities, they will throw in jail for doing that extensive of a renovation without pulling permits or having a proper license

You are correct
Boomer-type houses will not be sold and will continue to depreciate
But it is natural, because boomers are stupid peasants in majority, only rich an clever people enrich and pass wealth and capital to next generations.
Stupid peasants always lose all their value (and freedom) long before their death.

Profit from boomers was already earned when they were consuming and working. Now they need to be recycled into biomass

That is a bright future if it happens. But not all jobs can be telecommuted. Personally mine can and I'd do it in a heartbeat. Live innawoods and earn big bucks.
However, that doesn't change the fact that even then no one will want to buy a suburb mcmansion from boomers. desu I wouldn't even stay in the US given how overpriced it is here.
If anything remote work would make the issue worse. If you could live anywhere in the world you wanted, you sure as damn hell wouldn't pay 800k to live in an NPC box outside of some shithole 2nd rate city.
Boomers are double-fucked. S.

>children and NEETs bitching about US suburbs
You all seem yo refuse to get the point. Housing policy and construction trends are driven by consumer demand. People are buying what they want, single family homes with yards in suburbs well removed from the city. The reason is diversity. You aren't allowed to have Jim Crow Laws and you can't redline neighborhoods but you can have high property taxes, HOA dues, and a far flung locale that makes public transit prohibitively expensive. Buying a house is buying all the socially-accepted racism you can afford. Widely distributed, low density housing means not only that publicly subsidized crime distribution won't reach you, but also that you local school are further away from the juvenile delinquents the SJW's want to bus in to your non-failing school. Yes, even hood rat single mothers don't want their kids riding a bus 2 hours each way to school.

tl;dr give people a mechanism, besides price of ownership or domestic terrorism, to keep their neighborhood from becoming "ethnic" or continue to enjoy the status quo.

26 years. Own a 3/3 in a densly white populated area of FL. One of the few placea like it left in our state. Drive no more than 30mins to work. Most days only 5 or 10. Debt free.

This post is a meme.

>Small town gets annexed and the first thing on the board is to build section 8 apartments

That's my plan. I'm a CPA and need about five more years of experience before I can get a cushy telecommuting job and then I'm moving to the sticks. It won't pay as much as being a partner at a firm or a VP at a big company, but I'd much rather make half as much money and have a better quality of life.

Yeah that's a fair point. I love the innawoods plan and would do the same - unfortunately my wife has to go into an office and it prevents us from doing it so your point is valid. I agree with you the boomers are fucked and my gut tells me to be overjoyed about it for all the shit they dumped on us, but my head tells me we will just end up having to pick up more pieces.

I actually know a boomer in that position. He's rich, so he won't go broke, but he's still going to lose a good chunk of his fortune when he finally cuts his losses and sells his McMansion at a 6 figure loss.

We’ll see who’s right but I’ll have 3-5 yrs equity in an inflation following house and you’ll have pissed away that time in rent and rising housing prices. Even if you factor in a correction I’ll still be ahead of you long term.

It's pretty great. I make about $116k (in Northern California so it definitely doesn't go as far as it would elsewhere), but if my wife could telework I think we'd move innawoods in Idaho or Oregon and it would be great. Good luck in your journey, user - you can do it!

>To Rent or To Buy
That guy is an absolute idiot. Does he think his landlord isn't charging him all those expenses in his rent?

The advantage of homeownership is you're taking that 10-20% he makes every year and putting it into your own wealth.

dont go telling everyone! and how the fuck would the cops know? my dad has done all his own work for decades. fuck the police. im not gonna be blackmailed by the trade guilds

Buying used to be worth it for the tax deduction alone, unfortunately, at least here in California, the change to the standard deduction killed that perk.

long term you'll both be death, what's the point?

>People are buying what they want, single family homes with yards in suburbs well removed from the city.
Wrongfriend. All new construction is city infill apartment blocks. THAT is the new consumer demand.
As I said, the problem is the houses boomers hold on to are no longer in demand. They are delusional about the home value, and that value is what they are basing their retirement plans on. What happens when the largest cohort in america finds their retirement savings suddenly seriously underfunded? 50%, 70% of what they thought they had, poof, gone. What happens next?

The only difference is that though the elite want to convince and/or force Millennials and Gen Z to live like sardines in the cities most of those generations would just like a small starter home for themselves and the few if any children they'll have.

2-3 bedrooms, 1-2 bathrooms and a decent amount of land.

I've been seeing these 350k homes with 5 bedrooms, 2-3 bathrooms, no backyard, and common space "front yard." Who the fuck is that supposed to appeal to?

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If you lost your job tomorrow, how hard would it be to find another one? The issue with those smaller cities is fewer companies and jobs

True, but you also get to deduct mortgage interest

>What happens next?
AARP lobbies for more gibs. Social security goes bankrupt, and nothing is left for future generations.

People who want detached housing but don't want the upkeep associated with yards.

I'm an electrical engineer. i'm currently in electronics, which granted, is rare in my town. however, there are plenty of consulting and power systems jobs.

i'm in the koch brother's hometown; they're picky about who they hire but i could probably get in with enough effort.

A lot of boomers are getting reverse mortgages on their McMansions. When they die and the banks can't sell them, tax payers will be stuck with the bill. Boomers win again.

>What happens next?
flight-to-liquidity

people will try to get rid of useless shit to buy good assets as fast as possible

>Don't fix the nigger problem haha don't take back our cities, just run far away lmao

There was already going to be nothing left. You can't increase taxes much more, current wageowners are already on shit pay with sky high living expenses. You can only squeeze a people for so long before there are riots.
They could tax gen X, I guess. Kek to that, those boomers-lite certainly deserve it. But the younger gens simply cannot pay. It would be like trying to squeeze $500 a month in taxes out of some russian who makes $800 a month. The current generation simply cannot fund boomer retirements.
>muh votes
Votes cannot overturn reality. You can have everyone vote for unicorns to come dancing down from the sky. Still ain't gonna happen.
Even if they tried to increase younger gen tax burden, the younger gen could just fucking move. Globalization has that effect you know. Thanks boomers, be destroyed by your own policies.

>good assets
As in? Last time housing crashed it took stocks with it.

It's like living in a giant apartment.

Seems shortsighted not to have a decent amount of land along with your home.

If you don't mind living at home, do so. Otherwise, move out and worry about your lease later. I don't think housing will crash in the next 12 months. You can always sub-lease, I suppose.

STFU you are 100% wrong

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ah, but did you factor in pajeets and asians?

You’re retarded.
>want to move away from mom
Answer is right there. Keep your apartment, continue making money, and figure out how to live on your own.

Don’t be stupid

Stay with your parents, have a good discussion, red pill them using facts and numbers such as inflation. Make them realize how is the market today and the best chance for you is to stay and pay a pension

>wageowners
wageearners, obviously.
>wages have stagnated for 25 years now
>cost of living has increased exponentially in that time
>younger gen was forced to take on student debt or jobs wouldn't look at them at all
>your proposal to fund boomer retirement miscalculation and lack of savings is...to tax these poorfucks more
>when boomers outnumber them 2 to 1
>and their medical expenses to keep these walking bloated corpses alive is 3x more than the younger gen even lives on
It is not a sufficient source of funds, even if you did tax them. Gen X have some money, but you underestimate. Again, boomers are the largest cohort in the nation, they outnumber the gen x, they outnumber the younger gens. And they all want to spend $50k a year per head plus medical costs for 20-30 years of retirement.
How do you think that is going to work out? The math does not add up. It's impossible.
HERE is the only solution. Boomers fuck off to poverty and live in those $20k shacks in rural mississippi that rats dwell in and are falling apart as we speak. And they live in poverty, and they take an extra part time job. Or they just don't retire, and they work to death.
I'm not seeing any other logical outcome possible.
You can bitch all you want about mils being lazy or houses still being cheap. NONE OF THAT, even if true, will change this fact. This is the fucking issue. All of these boomers will see half a million dollars they thought they had saved, suddenly vanish.
What follows?

>small town
When I say suburb, I mean suburb. Not a small town that grew up because it had an interstate off-ramp, but the have to drive 8 miles to the nearest gas station, nobody but Uber delivers, vast tracks of houses and no economic activity besides gardening/handiwork suburbs. When the only open land in 5 miles in any direction is a cow pasture grandfathered on a 10:1 protected wetland, there's no place to put Section 8 housing.

When boomers start selling their McMansions and have no one to buy them their prices will go down. At which time I will sell my modest home and move into their McMansion. It will be nice. :)

Boomers should be shattered in the nation they shattered. Eternal torture to all of those filthy commies.

Less population = less competition for skilled work.

Don’t be a burger flipper and you should be fine, also invest in job security by having a good profession with low likelihood of automation in the next 20-30 years

>buy out my lease

Literally pissing away $2.4k for nothing. Absolutely nothing. You know it looks terrible on credit reports too, right?

>looking for a home

We are in the middle of a massive house bubble and you want to buy a house? Do you realize the hell that is a underwater mortgage? Just wait 2-3 years for the bubble to pop and grab a cheap duplex and rent out one side while you live in the other. Ignore the other financial illiterates in this thread shilling houses to you, houses are possibly the worst investment you could ever own. They are iliquid, non-fungible, require down payments with massive opportunity costs, and are valuable based on local external factors you can not control such as the local economy or demographics. Not to mention that the average house in America appreciates only at inflation (ie. 2% a year) with only the last 18 years of housing speculation being a total fluke of the past 150 years of home prices.

>will likely look for a "condo" or townhome

Imao have fun paying "community fees" that could go to $400 a month. This is on top of property taxes, insurance, etc. You will never truly own your home in America, you will ALWAYS being paying some sort of rent to a landlord, HOA, or the government. This is a fact of life in the modern era.

No offense but buying out leases is essentially the same as ending a lease. That is, it's not reported to credit bureaus whether you complete a lease in 12 months or buy out at 3 months.

You only get anything on your credit if you default on the lease, get a judgment, etc, all those sorts of things.

Paying rent on time at apartments is much the same as paying utility bills on time. No one gives a fuck. At most your rental history would only really come into question at say another complex that needs a "reference" but 99% of the time it doesn't matter anyway if you have proof of income and okay credit.

Your other points are valid, of course.

It's a shame we let rampant immigration skyrocket our housing prices and suppress the value of labor huh?

29yr old boomer here

Im probably going to end up buying a trailer home for dirt cheap. My wife and I dont care.

I make a teachers salary which is shit money desu but she wants to stay at home with the kids. I would rather have a shitty trailer than be a jew debt slave for the next 30 years

hopefully thus lets us save up money so we can buy something for cash in the distant future. would love to own some land. fuck debt

People will buy houses constructed from good materials and in good places, apartments in good city.
Suburbs are a slums. people live in city and out side of city (in forest or countryside).

good asset must last for no less than 150 years and repay itself in 10 years if you reinvest money

boomers own complete shit:
- shitty quality, cheap immitation of houses of richer people (sometimes rich boomers immitate assets of even richer boomers by decreasing quality of meterials by overexpanding size and maintenance expenditures)
- shitty lifespan of assets. no sane person that works a lot wants to have headache with such shitty shit
- shitty rentability, impossible to doube money in 10-12 years from rent.

boomers are morons if they think they may compete with construction companies by speculating with the price

also boomers always buy shit with high markup (>normal), they are peasants. all value from their assets was already extracted. all non-conservative boomers need to be prepared for biomass recycling

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I'm so happy thinking that I can basically live a awesome life as these stupid kids with 100k loans live in literal shacks. :)

>all non-conservative boomers
Even conservative boomers believe that anything different from the status quo is communism

Take the ridiculous prices of conveniently placed housing and then add on ridiculously high taxes, that’s Illinois for you.

No joke, I’ve watched multiple small businesses close down over night only to be replaced by mega big companies. I’ve literally got two Dunkin’ Donuts and Starbucks 2 miles apart on the same damn road.

It’s a fucking nightmare to own land here

> In my city what sold for 150k 10 years ago is going for literally 800k right now
You do know what happened 10 years ago, right?
The question is what was the sqft price in 06?
What is it currently?
We're not at that ceiling as of now. If anything, prices have been in decline since August.
Stop bitching and moaning. Save money and buy in 18 months. You will get a deal.

forgot
boomers around the world are just former workers and peasants, former proletariat that was boosted with some money during cold war to let the west to defeat communism

value is already extracted from them, they will go back to the barn soon

Come to Quebec, where a house about 15 years ago at 85K$ is now over 350K$
I will never buy one, just buy a cheap property and build something

Fuckers deserve it for what they did

Alabama has tons of jobs in aerospace and ship building, you should check out Mobile. You can live in a town like Foley, which has more amenities than most, but is still cheap and rural then commute half an hour to work.

i wantedto tell that conservative boomers will get a bit of help from their children (even in such operation as optimization), this is the main difference

non-conservative boomers will go to biomass extraction facility

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Repairs add on tens if thousands onto an already several hundred dollar house. What’s the point of buying these when I can spend 1,800 a month on a 2 bedroom apartment?