[quote=sdrealtor]Not saying this is going to save the market but I just saw this twice this week. The wealth transfer from our paretns generation to the baby boomers is very real and it is coming as we speak.[/quote]
I don’t disagree that this happens… heck I’ve experienced it (to a much smaller degree!!!) when my dad passed away 2.5 years ago. But I think it’s not as common in the scale (size of inheritance) that you mention. I think more typical would be a few hundred thousand – maybe enough to pay off or pay down a small mortgage, but not enough to blow on a big house with big upkeep.
And it’s a trend that will be going away… I’ve read so many articles about the boomers underfunding their retirement and living beyond their means. Granted, the boomer generation didn’t start till 1946 – so the oldest are only 64. I’ve seen this myself with older coworkers and family who didn’t get serious about retirement till their late 40’s, and or spent retirement savings on their childrens college fund. Their kids may have good educations, but now the parents have mortgages into retirement years and can’t retire.
