[quote=flu][quote=CA renter][quote=sdrealtor]BG
Again I never claimed it would save the mid to upper housing market. It is all additive and no one can deny that it will have an impact. How much we dont know. I said they “only children” and admitted not everyone is an only child. I also said that my examples are skewed to the upper mid/high end as that is where and who I meet socially. I also said that people whose parent live in lower priced ZIP are likely to buy lower priced homes. I dont get what points you are contesting as I already pointed out all the possibilities yopu mentioned.
My biggest issue is the most bearish pick apart each example as not being capable of solving our problems but dont make an allowance for all of the examples being additive on a collective. Every little but helps and there are lots of little bits coming from different directions. We dotn need one thing to solve the ills of our economic downturns we need lots of things coming together. I try to point out each brick in the wall as I come upon them.[/quote]
sdr,
Inheritance is certainly one possible way for people to obtain enough money to prop up housing prices…however, I’d guess that a lot of that “Greatest Generation” money is tied up in housing. In order for the kids to get to the money, they have to sell a house, and if they’re going to be getting ~$1MM+, chances are the houses they sell will be in “desirable” neighborhoods. Essentially, while they might be willing to buy an expensive house with their new-found cash, they will most likely have to sell another one in order to do it, which means that it’s really not a net gain in demand.[/quote]
From what I know, the folks from the greatest generation (If you’re talking pre-baby-boomer) already have their homes paid off, and with $1000/year property tax.[/quote]
Yes. I’m referring to their heirs of the Greatest Generation who would either move into their (paid off) parents house (realeasing their current home onto the market as a sale or rental), or they would have to sell the home in order to settle the estate, or sell it in order to buy another one more to their liking.
