What I find horrifying about North America’s housing situation (I’m in Canada) is that these boomers own these giant McMansions that are only possible to buy with boomer money. My generation doesn’t want these giant houses, we can’t afford them, we can’t furnish them, and we certainly don’t have the time or energy to clean all of that, but it’s all that builders seem to build (they’re the most profitable type of home for a given amount of materials and labour)
Right now they’re all trying to downsize into the same homes first time homebuyers want and nobody’s buying their gigantic McMansions (look at Florida right now. Nobody is buying and it seems like every house is for sale right now)
Once enough of them can’t sell or straight up die (and their kids can’t sell) it crashes the entire market permanently. All of these houses get repriced to what they actually should be (good) but it collapses the entire fake money system which is based on inflated house prices (my home country’s economy is basically just real-estate speculation)
And of course the group that will be fucked over the most are the young people. It’s never the profiteering home owners who caused this whole situation in the first place…
There’s also the issue of municipalities being desperately reliant on inflated valuations for housing to get enough property tax. A big enough crash is going to cause towns and cities to run out of money…
currently its mostly tech people at those ages 35-40+ are home owners, followed by STEM grad holders who are in-demand fields including health, but mostly the indemand specific health industries. every other stem holder aint getting an income if they can get the job even, to buy a house.
That’s the K shaped economy. What we’re seeing right now is the bottom falling out of the 60-70th percentile. I’m hearing of a massive housing correction that should be happening this year or next.
FYI they changed delinquency rules so now they offer homeowners “pay me something and the difference is added to the back of your mortgage” that way it doesn’t report in the delinquencies reports. 60% of those fail within a year but it still manages to avoid showing up in the data… There’s lots more… Listing sites adding the showroom to real estate websites to represent 300 units, that way they maintain the illusion of scarcity.
Im old enough to remember when the news said it was under 25. Then 30. And now 35.
I’m old enough to remember the last time they raised the minimum wage. (In case you’re wondering, it was 2007. And it went from $5.15 to $7.25.)
35 if you are in tech or a high paying MD/nursing job. every other stem is not possible, let alone jobs are not there.
Average home buyer age in 2000: 35 years old
Average home buyer age in 2026: 56 years old
What I find horrifying about North America’s housing situation (I’m in Canada) is that these boomers own these giant McMansions that are only possible to buy with boomer money. My generation doesn’t want these giant houses, we can’t afford them, we can’t furnish them, and we certainly don’t have the time or energy to clean all of that, but it’s all that builders seem to build (they’re the most profitable type of home for a given amount of materials and labour)
Right now they’re all trying to downsize into the same homes first time homebuyers want and nobody’s buying their gigantic McMansions (look at Florida right now. Nobody is buying and it seems like every house is for sale right now)
Once enough of them can’t sell or straight up die (and their kids can’t sell) it crashes the entire market permanently. All of these houses get repriced to what they actually should be (good) but it collapses the entire fake money system which is based on inflated house prices (my home country’s economy is basically just real-estate speculation)
And of course the group that will be fucked over the most are the young people. It’s never the profiteering home owners who caused this whole situation in the first place…
There’s also the issue of municipalities being desperately reliant on inflated valuations for housing to get enough property tax. A big enough crash is going to cause towns and cities to run out of money…
currently its mostly tech people at those ages 35-40+ are home owners, followed by STEM grad holders who are in-demand fields including health, but mostly the indemand specific health industries. every other stem holder aint getting an income if they can get the job even, to buy a house.
That’s the K shaped economy. What we’re seeing right now is the bottom falling out of the 60-70th percentile. I’m hearing of a massive housing correction that should be happening this year or next.
FYI they changed delinquency rules so now they offer homeowners “pay me something and the difference is added to the back of your mortgage” that way it doesn’t report in the delinquencies reports. 60% of those fail within a year but it still manages to avoid showing up in the data… There’s lots more… Listing sites adding the showroom to real estate websites to represent 300 units, that way they maintain the illusion of scarcity.