WSJ | Boomers Bought Up the Big Homes. Now They’re Not Budging.

Have you noticed that baby boomers aren't selling their homes? It's really disrupting the housing market - listen in.
Article: on.wsj.com/4dF2XzX

[@vernshird711]

6. Interest Rates Random Boomer: "So let me get this straight, you want me to move out of the house that I have a 2.0% mortgage rate on, sell it, and buy a smaller home that has a 7.0% mortgage rate?"

[@bootstrapstylerich]

Boomers not selling due to capital gains on such a large investment in their lives - especially "IF" they downsize!!! When we sold my mom's house (my parents had bought it in 1965) after she passed - the home had appreciated 2400% in 43 years! That home in 2007 was worth $375,000.00...today, it is probably worth north of $700,000.00! Taxes in 2007 were about $7G - today the taxes are about $16G I estimate!

[@willpcs3453]

The Boomers are the wealthiest generation, the majority don't need to downsize to fund their retirement. If they are looking to downsize, add in the higher cost of housing, ridiculous high real estate fees for selling and purchasing, plus moving costs.

[@user-yb5bg8im5g]

paid for house in hot market colo taking my cash and buying off grid in ohio. tons of money left over. ''plan ahead.''

[@b1l2a3k4e5]

Hi Kirsten I agree. And think that is one of many of the contributors to the affordability crisis. I am a property valuer in Australia and see this often.

[@Michaelfatman-xo7gv]

Fine. Big house. Take your family in as they lose theirs. Cool.

[@Mermiez4]

Most boomers i know have multiple homes