On an unrelated note, suddenly, boomers care about affordable housing for no apparent reason.
For them. Everyone else needs to use their bootstraps.
Bingo!
Suddenly boomers believe in a massive increase to social security taxes to pay for them.
I look forward to watching them die off.
I still everyone thinks that boomer`s houses magically built themself and cost nothing. No interest was payed for the loan and the time there where built money rained from the sky.
Tell me more about how you want every to know that you know nothing about the changes to monetary policy, socio-economic issues, or regulatory change that has happened since the mid-70’s.
If you think that, I know you’re unfamiliar with the economy and real estate.
They bought them, yes. In fact, they had higher interest rates! My dad’s first mortgage in the 80s was at 17%…but the loan was less than 2 years of his salary which made his payments pretty easy. Now I’m expecting to have to pay 5-6x my salary for a similar home.
And to get ahead of some rebuttals: adjusted for inflation, I am making more than he did at the time so it’s not that. And the homes I’m looking at are in less desirable neighborhoods than I grew up in so it’s not that either.
Furthermore, his parents’ generation wasn’t hoarding real estate for Airbnb rentals.
Also, there has been a drop in new housing construction since 2008.
There was a massive multigenerational push to build new housing, with government agencies either facilitating new construction with infrastructure or helping to fund its construction.
Do you mean new housing as in individual stand alone houses, or does that also include multi unit apartment buildings?
I only ask because in the old area I used to live in it seemed like they were building new apartments left and right. Meanwhile as far as houses go I would be inclined to agree, as I haven’t really noticed any new construction going on. But that’s just in the area I live now. It’d be interesting to see nationwide numbers.Any new housing unit. There has been an increase in multifamily housing, but nowhere near enough to cover for the total drop.
Money does rain from the sky if you properly tax the rich.
Okay boomer
Nice strawman argument, clown shoes.
They should cut back on avocado toast and get rid of cable.
They should get rid of that land line, you know they still have one
Nah, they should’ve sold their houses to Aquaman, and move…
I blame the removal of pensions and replacement with inadequate 401k plans.
Social security was never meant to be a retirement plan.
Maybe it should be. Decoupling retirement and Wall Street would probably let us take a more honest look at the costs and benefits of for profit corporations in our society.
agreed. retirement and healthcare should not be tied to employment. Want a snazzier retirement. Fine that is 401k/ira material. Retirement plus health insurance should be enough to pay for a retirment home private room where you won’t be molested (i.e. - pays enough that folks don’t want to lose their job)
We need regulations (laws) to make them viable for retirement.
A forced match plus a 10% pay paid for by the employer.
Most people just can’t save enough in a 401k to make it solid retirement program. You’re capped at little under 20k a year. I may mine every year.
I wouldn’t even mind a national pension plan or something similar.
The current system isn’t viable for many reasons.
My mom is retired but she has two pensions and social equity plus some other income. She’s in a rare spot that she’s very comfortable in retirement.
The amounts have changed. For 2023, the current 401K maximum is $22,500, and if you are 50 or older, $30,000.
For 2023, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can’t be more than: $6,500 ($7,500 if you’re age 50 or older), or. If less, your taxable compensation for the year.
Cutting the budget to come up with an extra $28,000 is the hard part.
I’m not eligible for a Roth and I don’t get a tax deduction for an Ira. I do roll over my 401k into an Ira when I go to a new employer.
The amount change ever year but they really don’t amount to a good retirement.
Have they tried trickle down economics or maybe pulling themselves up by their bootstraps??
Oh no! It’s the consequences of my own actions!
Don’t worry, as the saying goes “pull yourself up by the dick”, and maybe they will gain enough wealth to become expats and gain more in foreign wealth and sex on Southeast and East Asia…, /s (Edited for clarification)
Instructions unclear, tried unsuccessfully multiple times and now I just feel like God hates me.
You just gotta pull yourself back up harder, my friend, remember the bootstraps and remember you d***, that’s the important part…
Ugh, I just knew what this gross comments section was gonna look like.
Look, whatever perceived collective guilt an entire cohort of humanity has in your view, it’s really disgusting to celebrate and gloat over a report about the elderly becoming homeless.
When subsequent generations decide they have the right to dance on our graves for whatever it is they decide we did, I hope your ghosts aren’t too whiny about it.
If we made life significantly worse for our next generations, then they sure as hell should dance on our graves.
Even those that tried their best to avoid causing problems and/or /revert the effects? You’re blaming the entirety for the crimes of the minority. This is dumb.
Because there were so many Baby Boomers alive during the Great Depression…
Enjoying the trickle down of piss? This is what you wanted
