Good to hear. The longer housing prices stay sane, the better, so that Gen Y can get a leg up on the X’er and boomer idiots who are underwater. Must be nice renting from someone 25 years younger who owns 3 properties of the kind that you paid through the nose for.[/quote]
spdrun, I maintain that for every “boomer” that is currently “underwater,” there are 20-25 “X’ers” who are in the same leaky boat. Anecdotal but based on the people I know, it’s clearly the under-45 crowd (today’s age) who got sucked into purchasing at the height of the market. “Boomers” who are currently underwater likely took too much cash out of their properties. “Boomers” began purchasing RE in the late ’60’s, early ’70’s and most wouldn’t dream of and didn’t NEED to pay the exorbitant asking prices of the “millenium boom.” The vast majority of “boomers” saw right thru the “RE-will-only-go-up. Buy-while-you-still-can” sham.
