Seeking the opinion of the buyers out there.

[briansd1]

[quote=AN]I’ll let you in a little secret… I’ll be passing this house down to my kids.[/quote]

What does that have to do with the cost of purchase or owning the house?

Plenty of women overpay for jewelry that they pass-on to their kids. The kids never wear it except perhaps for the wedding.

Maybe the kids would rather have a fat trust fund.

[UCGal]

[quote=briansd1][quote=AN]I’ll let you in a little secret… I’ll be passing this house down to my kids.[/quote]

What does that have to do with the cost of purchase or owning the house?

Plenty of women overpay for jewelry that they pass-on to their kids. The kids never wear it except perhaps for the wedding.

Maybe the kids would rather have a fat trust fund. [/quote]

Maybe the point is that AN is not buying as an investment, per se. He’s buying shelter that can be passed onto future generations. If future generations don’t want it – they can sell.

Same can be said for overpriced jewelry – kids who inherit or are gifted the jewelry can sell it.

If the kids prefer a fat trust fund – good for them… But life doesn’t guarantee you a fat trust fund. Parents are free to spend their money as they see fit.

[UCGal]

[quote=briansd1][quote=AN]I’ll let you in a little secret… I’ll be passing this house down to my kids.[/quote]

What does that have to do with the cost of purchase or owning the house?

Plenty of women overpay for jewelry that they pass-on to their kids. The kids never wear it except perhaps for the wedding.

Maybe the kids would rather have a fat trust fund. [/quote]

Maybe the point is that AN is not buying as an investment, per se. He’s buying shelter that can be passed onto future generations. If future generations don’t want it – they can sell.

Same can be said for overpriced jewelry – kids who inherit or are gifted the jewelry can sell it.

If the kids prefer a fat trust fund – good for them… But life doesn’t guarantee you a fat trust fund. Parents are free to spend their money as they see fit.

[UCGal]

[quote=briansd1][quote=AN]I’ll let you in a little secret… I’ll be passing this house down to my kids.[/quote]

What does that have to do with the cost of purchase or owning the house?

Plenty of women overpay for jewelry that they pass-on to their kids. The kids never wear it except perhaps for the wedding.

Maybe the kids would rather have a fat trust fund. [/quote]

Maybe the point is that AN is not buying as an investment, per se. He’s buying shelter that can be passed onto future generations. If future generations don’t want it – they can sell.

Same can be said for overpriced jewelry – kids who inherit or are gifted the jewelry can sell it.

If the kids prefer a fat trust fund – good for them… But life doesn’t guarantee you a fat trust fund. Parents are free to spend their money as they see fit.

[UCGal]

[quote=briansd1][quote=AN]I’ll let you in a little secret… I’ll be passing this house down to my kids.[/quote]

What does that have to do with the cost of purchase or owning the house?

Plenty of women overpay for jewelry that they pass-on to their kids. The kids never wear it except perhaps for the wedding.

Maybe the kids would rather have a fat trust fund. [/quote]

Maybe the point is that AN is not buying as an investment, per se. He’s buying shelter that can be passed onto future generations. If future generations don’t want it – they can sell.

Same can be said for overpriced jewelry – kids who inherit or are gifted the jewelry can sell it.

If the kids prefer a fat trust fund – good for them… But life doesn’t guarantee you a fat trust fund. Parents are free to spend their money as they see fit.

[UCGal]

[quote=briansd1][quote=AN]I’ll let you in a little secret… I’ll be passing this house down to my kids.[/quote]

What does that have to do with the cost of purchase or owning the house?

Plenty of women overpay for jewelry that they pass-on to their kids. The kids never wear it except perhaps for the wedding.

Maybe the kids would rather have a fat trust fund. [/quote]

Maybe the point is that AN is not buying as an investment, per se. He’s buying shelter that can be passed onto future generations. If future generations don’t want it – they can sell.

Same can be said for overpriced jewelry – kids who inherit or are gifted the jewelry can sell it.

If the kids prefer a fat trust fund – good for them… But life doesn’t guarantee you a fat trust fund. Parents are free to spend their money as they see fit.

[CA renter]

[quote=FormerSanDiegan][quote=4plexowner]1. what about the fact that 25% of our workforce (Baby Boomers) are going to try to retire over the next ten years?

many of them will try to downsize by selling their houses
[/quote]

Why is it that all demographic arguments focus on the baby boomers. What about the children of the boomers, who actually outnumber the boomer generation ?

The first part of this wave is in their early 30’s. While the size of the echo boomer generation is not large enough to solve the Social Security problems (which relies on a large number of workers per retiree) they are larger than the boomers and will impact many other parts of the economy and society.[/quote]

Those echo Boomers already live somewhere. The bubble was unprecedented in the number of young/unqualified people who were able to buy, even in their early 20s! Others are renting.

I’m not thinking about the Boomers downsizing as much as I notice that the very desirable communities are filled with people in their 70s and 80s. Yes, some of their heirs will move in when they pass away, but many of their kids already live locally…freeing up another house.

The stock market decline took a lot of wind out of the sails of the Boomers. They were not prepared for the losses they took, and many will have to resort to “Plan B” (selling the house and cashing out their equity).

Most of them were NEVER expecting to sell their homes for prices that were reached during the bubble. Most of them are sitting on plenty of equity, and there is no reason for them to “hold on” to something when they are still making a nice profit. I think some bulls are being unrealistic in their assumptions about Boomers caring about peak prices. Most of the Boomers I know never thought those prices would ever be reached in the first place. IMHO, very few will “hold on” for peak prices when they can still sell for a nice profit and cash out plenty of equity and move to a senior community or mobile home park or live with their kids.

[CA renter]

[quote=FormerSanDiegan][quote=4plexowner]1. what about the fact that 25% of our workforce (Baby Boomers) are going to try to retire over the next ten years?

many of them will try to downsize by selling their houses
[/quote]

Why is it that all demographic arguments focus on the baby boomers. What about the children of the boomers, who actually outnumber the boomer generation ?

The first part of this wave is in their early 30’s. While the size of the echo boomer generation is not large enough to solve the Social Security problems (which relies on a large number of workers per retiree) they are larger than the boomers and will impact many other parts of the economy and society.[/quote]

Those echo Boomers already live somewhere. The bubble was unprecedented in the number of young/unqualified people who were able to buy, even in their early 20s! Others are renting.

I’m not thinking about the Boomers downsizing as much as I notice that the very desirable communities are filled with people in their 70s and 80s. Yes, some of their heirs will move in when they pass away, but many of their kids already live locally…freeing up another house.

The stock market decline took a lot of wind out of the sails of the Boomers. They were not prepared for the losses they took, and many will have to resort to “Plan B” (selling the house and cashing out their equity).

Most of them were NEVER expecting to sell their homes for prices that were reached during the bubble. Most of them are sitting on plenty of equity, and there is no reason for them to “hold on” to something when they are still making a nice profit. I think some bulls are being unrealistic in their assumptions about Boomers caring about peak prices. Most of the Boomers I know never thought those prices would ever be reached in the first place. IMHO, very few will “hold on” for peak prices when they can still sell for a nice profit and cash out plenty of equity and move to a senior community or mobile home park or live with their kids.

[CA renter]

[quote=FormerSanDiegan][quote=4plexowner]1. what about the fact that 25% of our workforce (Baby Boomers) are going to try to retire over the next ten years?

many of them will try to downsize by selling their houses
[/quote]

Why is it that all demographic arguments focus on the baby boomers. What about the children of the boomers, who actually outnumber the boomer generation ?

The first part of this wave is in their early 30’s. While the size of the echo boomer generation is not large enough to solve the Social Security problems (which relies on a large number of workers per retiree) they are larger than the boomers and will impact many other parts of the economy and society.[/quote]

Those echo Boomers already live somewhere. The bubble was unprecedented in the number of young/unqualified people who were able to buy, even in their early 20s! Others are renting.

I’m not thinking about the Boomers downsizing as much as I notice that the very desirable communities are filled with people in their 70s and 80s. Yes, some of their heirs will move in when they pass away, but many of their kids already live locally…freeing up another house.

The stock market decline took a lot of wind out of the sails of the Boomers. They were not prepared for the losses they took, and many will have to resort to “Plan B” (selling the house and cashing out their equity).

Most of them were NEVER expecting to sell their homes for prices that were reached during the bubble. Most of them are sitting on plenty of equity, and there is no reason for them to “hold on” to something when they are still making a nice profit. I think some bulls are being unrealistic in their assumptions about Boomers caring about peak prices. Most of the Boomers I know never thought those prices would ever be reached in the first place. IMHO, very few will “hold on” for peak prices when they can still sell for a nice profit and cash out plenty of equity and move to a senior community or mobile home park or live with their kids.

[CA renter]

[quote=FormerSanDiegan][quote=4plexowner]1. what about the fact that 25% of our workforce (Baby Boomers) are going to try to retire over the next ten years?

many of them will try to downsize by selling their houses
[/quote]

Why is it that all demographic arguments focus on the baby boomers. What about the children of the boomers, who actually outnumber the boomer generation ?

The first part of this wave is in their early 30’s. While the size of the echo boomer generation is not large enough to solve the Social Security problems (which relies on a large number of workers per retiree) they are larger than the boomers and will impact many other parts of the economy and society.[/quote]

Those echo Boomers already live somewhere. The bubble was unprecedented in the number of young/unqualified people who were able to buy, even in their early 20s! Others are renting.

I’m not thinking about the Boomers downsizing as much as I notice that the very desirable communities are filled with people in their 70s and 80s. Yes, some of their heirs will move in when they pass away, but many of their kids already live locally…freeing up another house.

The stock market decline took a lot of wind out of the sails of the Boomers. They were not prepared for the losses they took, and many will have to resort to “Plan B” (selling the house and cashing out their equity).

Most of them were NEVER expecting to sell their homes for prices that were reached during the bubble. Most of them are sitting on plenty of equity, and there is no reason for them to “hold on” to something when they are still making a nice profit. I think some bulls are being unrealistic in their assumptions about Boomers caring about peak prices. Most of the Boomers I know never thought those prices would ever be reached in the first place. IMHO, very few will “hold on” for peak prices when they can still sell for a nice profit and cash out plenty of equity and move to a senior community or mobile home park or live with their kids.

[CA renter]

[quote=FormerSanDiegan][quote=4plexowner]1. what about the fact that 25% of our workforce (Baby Boomers) are going to try to retire over the next ten years?

many of them will try to downsize by selling their houses
[/quote]

Why is it that all demographic arguments focus on the baby boomers. What about the children of the boomers, who actually outnumber the boomer generation ?

The first part of this wave is in their early 30’s. While the size of the echo boomer generation is not large enough to solve the Social Security problems (which relies on a large number of workers per retiree) they are larger than the boomers and will impact many other parts of the economy and society.[/quote]

Those echo Boomers already live somewhere. The bubble was unprecedented in the number of young/unqualified people who were able to buy, even in their early 20s! Others are renting.

I’m not thinking about the Boomers downsizing as much as I notice that the very desirable communities are filled with people in their 70s and 80s. Yes, some of their heirs will move in when they pass away, but many of their kids already live locally…freeing up another house.

The stock market decline took a lot of wind out of the sails of the Boomers. They were not prepared for the losses they took, and many will have to resort to “Plan B” (selling the house and cashing out their equity).

Most of them were NEVER expecting to sell their homes for prices that were reached during the bubble. Most of them are sitting on plenty of equity, and there is no reason for them to “hold on” to something when they are still making a nice profit. I think some bulls are being unrealistic in their assumptions about Boomers caring about peak prices. Most of the Boomers I know never thought those prices would ever be reached in the first place. IMHO, very few will “hold on” for peak prices when they can still sell for a nice profit and cash out plenty of equity and move to a senior community or mobile home park or live with their kids.

[an]

[quote=briansd1]
What does that have to do with the cost of purchase or owning the house?

Plenty of women overpay for jewelry that they pass-on to their kids. The kids never wear it except perhaps for the wedding.

Maybe the kids would rather have a fat trust fund. [/quote]
Jewelry & RE are a mini trust funds in and of itself. It might not be multi-million dollar trust fund, but a gift is a gift. Why does it have to be an account at some bank to be a trust fund? What if it’s 10 properties at $500k each? It has everything to do with it, if you just read what you posted. Here’s what you said:
[quote=briansd1]What you like, the next buyer will not like and will want to rip it out. [/quote]
If I don’t sell it w/in the next 30 years, then it doesn’t really matter what other people think, since they can’t buy my house even if they wanted to. It’s not for sale. 30 years from now, I’m sure what I have today will be dated anyways, which means it’s time to upgrade/update. I doubt I’ll give this house to my kids in 30 years anyways. It’ll probably be more like 60 years, when I die.

[an]

[quote=briansd1]
What does that have to do with the cost of purchase or owning the house?

Plenty of women overpay for jewelry that they pass-on to their kids. The kids never wear it except perhaps for the wedding.

Maybe the kids would rather have a fat trust fund. [/quote]
Jewelry & RE are a mini trust funds in and of itself. It might not be multi-million dollar trust fund, but a gift is a gift. Why does it have to be an account at some bank to be a trust fund? What if it’s 10 properties at $500k each? It has everything to do with it, if you just read what you posted. Here’s what you said:
[quote=briansd1]What you like, the next buyer will not like and will want to rip it out. [/quote]
If I don’t sell it w/in the next 30 years, then it doesn’t really matter what other people think, since they can’t buy my house even if they wanted to. It’s not for sale. 30 years from now, I’m sure what I have today will be dated anyways, which means it’s time to upgrade/update. I doubt I’ll give this house to my kids in 30 years anyways. It’ll probably be more like 60 years, when I die.

[an]

[quote=briansd1]
What does that have to do with the cost of purchase or owning the house?

Plenty of women overpay for jewelry that they pass-on to their kids. The kids never wear it except perhaps for the wedding.

Maybe the kids would rather have a fat trust fund. [/quote]
Jewelry & RE are a mini trust funds in and of itself. It might not be multi-million dollar trust fund, but a gift is a gift. Why does it have to be an account at some bank to be a trust fund? What if it’s 10 properties at $500k each? It has everything to do with it, if you just read what you posted. Here’s what you said:
[quote=briansd1]What you like, the next buyer will not like and will want to rip it out. [/quote]
If I don’t sell it w/in the next 30 years, then it doesn’t really matter what other people think, since they can’t buy my house even if they wanted to. It’s not for sale. 30 years from now, I’m sure what I have today will be dated anyways, which means it’s time to upgrade/update. I doubt I’ll give this house to my kids in 30 years anyways. It’ll probably be more like 60 years, when I die.

[an]

[quote=briansd1]
What does that have to do with the cost of purchase or owning the house?

Plenty of women overpay for jewelry that they pass-on to their kids. The kids never wear it except perhaps for the wedding.

Maybe the kids would rather have a fat trust fund. [/quote]
Jewelry & RE are a mini trust funds in and of itself. It might not be multi-million dollar trust fund, but a gift is a gift. Why does it have to be an account at some bank to be a trust fund? What if it’s 10 properties at $500k each? It has everything to do with it, if you just read what you posted. Here’s what you said:
[quote=briansd1]What you like, the next buyer will not like and will want to rip it out. [/quote]
If I don’t sell it w/in the next 30 years, then it doesn’t really matter what other people think, since they can’t buy my house even if they wanted to. It’s not for sale. 30 years from now, I’m sure what I have today will be dated anyways, which means it’s time to upgrade/update. I doubt I’ll give this house to my kids in 30 years anyways. It’ll probably be more like 60 years, when I die.

[Author]

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