I think what essentially happened is that the bubble exaggerated the economic differences between different age groups.
My wife and I both sold properties at good moments. She sold her house for three times what she paid for it, and I sold my weekend home for six times what I had paid for it. So, we are going to be fine financially.
But what about my nephew who earns $90k, is newly married and lives in San Luis Opisbo? Or my niece who with her fiance has an income over $100k but lives in the Bay Area? They are renters and are quite concerned about when, if ever, they might be owners.
People that have owned for awhile are in great shape, maybe better than ever if they hadn’t taken money out of their homes, but young people are just dazed. They are thinking “timing, timing, timing” like no generation before them.
