You know, as I read these different analyses, I can’t help but wonder if we are overlooking something.
For example, today in our market there has been great concern over aging boomers and what this will mean for our society in the next 20 years or so.
These boomers have a lot of cash and live very well. What if (big if) the values they instilled in their children will impact the way this cycle goes. These boomers tend to be well paid and they like to show it. The wealth they continue to build — via stock market, other investments and real estate — are very real and will be passed on to their children. So what will this mean for housing.
Just a thought….
I have seen housing declines and was lucky enough to buy in 1996 so I am not saying major declines don’t happen. I am currently buying and plan to stay put for some time so I can weather whatever comes, but the fact that there is more wealth today should account for something and in my book may make this downturn different than others.
