FormerSanDiego, the reason you pointed out is exactly why I didn’t sell and rent. It was a lifestyle decision more than an economic decision. However, I’ll wait for the right time to buy my next home and move to where I’d rather live.
Many recent immigrants I know can afford to buy houses because they lived with their parents for many years while saving up.
I’m waiting for the time when the boomers reach the age when they have to move back in with their children. Medical intervention these days lenghten lives so caregiving will be a big issue soon. My auntie in NYC is 92yo. She just moved in with my cousin’s who’s 62 and just retired. My cousin struggles daily with caring for her mom with Alzheimers.
What will such demographics do the prices of housing? It’s not so far down the road. Imagine that it’ll take 15 years for this crash to clear up. In 20 years, the early boomers will be in their 80s.
