Obama is not a Gen Xer. He is very much a Boomer. He was born in 1961. Boomers keep trying to push him on Gen X and we aren't having it.
History How did the Baby Boomers ruin everything?
- Thread starter Lord Sovereign
- Start date
Boomer Trigger - Vox Popoli
Simply mention Boomers in any context that is less than obsequiously flattering, and they will come running. Nothing will change until the Boomers die, because a) they believe obedience to the law is paramount and, b) they believe protest is actually effective. But if public prayer results in 11...
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Blasterbot
Well-known member
some goes to millenials who will have to make the decision to sell it or move where their parents lived. others goes to the banks after they get reverse mortgaged for end of life care. banks will then be sitting on a large supply of houses that they will either want to flip as is as quick as possible. whether that is to a family or a corporation that will use it as a rental won't matter. likely prices will shift a lot depending on local demographics.
Agent23
Ни шагу назад!
It gets taxed, which will help with deficits but not by much, then the inheritance gets divvied up and for the most part gets spent by broke exers, zoomers and millennials.
Some of the smarter ones might get themselves out of debt and finally buy homes and start families, and the explosion in available housing will probably help with that.
We will also see the stock market fo down since as they age out and have to tap their retirement investments and then die out. A lot of that investment money will be pulled out of the broad index funds and lower the price of stocks, probably until the Buffet indicator reaches below fair value and with us getting a "lost decade" in financials while the real economy might improve due to the increases in spending, higher housing affordability and hopefully a return to family formation and real economic growth if all this is coupled with some pro family policies.
The boomers have turned into a senile ruling class and an economic appendix thst is rupturing.
There will be a crash and it should be followed by a revitalization and upswing, at least that is how things would have happened before.
Right now we have lots of impediments to real wage growth, like outsourcing and it's results, a ruined school system crammed with idiot liberal crap coming from the boomers, and their terminally spoiled millennial children.
Oh, and all those migrants that were imported because of a a mix of vote farming, muh leftoid fee-fees and line must go up at any price "growth" based on importing more consumers and having them lower the salaries of the native population or just leech off the welfare systems.
"end of life care". in any sane society also known as family support. fuck throwing hundreds of thousands of dollars away to the hospital systems ie throwing whatever multi-generational wealth your family has down the drain.
Blasterbot
Well-known member
but then they can get the really good drugs from whatever RN happens to be in charge of their hospice care.
Split between like three+ children, who then sell the house for worthless money, house goes to stupid shit like blackrock and the 3 retard children question "Why are we only able to rent?..." despite selling a house that could be lived in.
Val the Moofia Boss
Well-known member
We're already seeing this with the motorbike hobby. Boomers held on to their motorbikes long after they stopped riding them because they hoped that the motorbikes would be an investment and become antiques that they could sell for a lot of money later on down the line. Now lots of boomers are retiring and need money, and they're selling off their old motorbikes en masse... and they're only going for $2,000 to $4,000. That's what the millenials and zoomers can afford to spend on neglected old bikes, and the boomers didn't bother to teach their children how to fix their cars or pass on a love for motorbiking. Their motorbike clubs and riders were made up of old geezers. Too much supply, too little demand. It's probably happening with a lot of boomer fads, like vinyls. Hardly anyone today listens on vinyl, not in the age where everything is up on youtube for free, and millennials and zoomers haven't heard a Beatles song.
Boomer parents neglect their children, get old and senile and become surprised when their children don't want to put up with them in their old age.
There could be actually legitimate reasons for selling that house. White flight. When you buy a house, you're not just buying the actual land. You're buying into a good neighborhood and access to nearby facilities such as a police force that protects you, a fire department or a hospital to save you, good schools for your kids to attend, a short distance away from work so you don't spend 2 hours stuck in traffic every day and become grouchy and start yelling at your wife and kids and making them hate you, etc. A lot of boomer houses were are in neighborhoods that were once clean and secure way back when, but now are shitholes with constant burglaries and a murder rate higher than a 3rd world country, dysfunctional institutions, and the paying jobs have evaporated and you have to travel even further away from your house. I live in California and have seen many once great places to live turn into shitholes people are trying to flee from.
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Blasterbot
Well-known member
they likely moved away from that town/city/neighborhood and don't have a job nearby. they may not want to live with or get along with their siblings. ect. thhat said selling the house should be enough to get a solid nest egg to either wipe out any debt you got or be the down payment on another house with some money to spare for either fixing it up or the first few months of mortgage payments. even considering the taxes and it getting split 3 ways.
Fair reasons why they might want to sell it. But why not keep it and rent it out (as immoral as that is)? Why not do any number of things other than 'split a priceless asset into three very much worthless sets of asset'?
Boomers are retarded, boomer offspring is usually retarded as a result.
Look at how many endless people seriously go "I pay the very minimum off my loans and the loans keep growing, how is this possible!?"
Blasterbot
Well-known member
Renting isn't actually great at generating money in some environments. Renters often give no fucks about the property as they aren't responsible for it's maintenance. you are on the hook for keeping it functional. that takes either time invested from you (which gets worse if you live more than an hour away from the property) or you have to hire a manager for it. something that would eat most of the profits. they have protections about when and how you can kick them out with steep penalties for doing it improperly. in MN you are not allowed to kick people out during winter. so a lot of people just stop paying rent for those months and find a new place in spring. and of course while a single house hold would find that rental income to be a nice boost splitting it 3 ways makes it much less nice as far as a side hustle goes.
Agent23
Ни шагу назад!
Well, Boomers made Commiefornia the way it is.
The important thing is that asset prices will have to go down, but the FED and the ECB need to stand back and let it happen.
And why the hell is renting property out "immoral"?
At the end of the day, economies work on labor. Therefore any moneymaking that isn't via some form of labor drains money from people and puts it into the hands of people who aren't working.
If one dude rents his house, no biggie.
Now what if 50% of homes are being used to rent?...What if 80%? and so on? When more money is being used to pay people sitting on ass, rather than goods/services, your economy goes to shit.
I cannot see it within myself, in good faith, to take money from someone for simply owning a property. It's like being famous for being famous, it's silly.
You don't have to agree with it, that's just how I see it.
Blasterbot
Well-known member
managing a rented property is actually a fair amount of work. especially if it is multiple homes or an apartment complex. it also provides a lower entry point for independence for some people. as while in the long run renting is a worse deal than buying as you don't have an asset to hold onto or sell off as you please it provides a cheaper and less permanent housing option for those who don't intend on staying in an area. you don't want everyone renting though. people wouldn't be as invested in the community generally.
I don't doubt that managing property is certainly work, but that's kinda the bare minimum for owning property in general lmao. You shouldn't get brownie points for 'the absolute minimal expected for you owning something'.
Owning a damned car requires work too, I just don't expect to get free money for taking care of it.
Renting, if at any point was reasonable, is now just a trap to leech money out of vulnerable people and retards. It's quite sad.
. . . Firstly, vinyl has actually made a comeback among Audiophiles, and for good reason, it's an analogue recording medium over a digital one, which means no compression, which means it sounds WAY BETTER as it's a lossless format.
Secondly, Millennials and Zoomers haven't heard a Beatles song? I can't comment for Zoomers, but Millennials GREW UP hearing Beatles and other 60s and 70s songs ALL THE TIME since, you know, our Boomer Parents would put on that music in the car when driving around or sometimes in the house. Even my hyper Conservative parents would throw on the "classic rock" station sometimes when driving exposing me and my brothers to all sorts of classic rock including the Beatles, among many, MANY, others.
Agent23
Ни шагу назад!
Labor vs. capital is stupid.
In order for someone to become a landlord thst someone must have gained capital via labor.
Black Rock and Vanguard have turned into scum, but they don't own anything, they are just an intermediary for millions of people working decades and saving up and reinvesting for their retirement.
In the case of inheritance the person renting out the inherited property pays various taxes and fees and needs to renovate and upkeep the property and deal with the tenants.
It is no different than inheriting a stock portfolio or bonds or money.
Aaron Fox
Well-known member
Another problem that the Boomers have caused is that a good majority of them would rather burn the place down than have things change, which is why they would rather vote for someone like Trump than anyone remotely sane.
In essence, a good portion of the Boomers are acting like this:
They can't accept that things have changed... and they complain that their children and grandchildren are killing everything when the reality is that they are killing everything. They are either willfully ignorant or outright maliciously ignorant that the job market has been disappearing, they ignore that the CoL has been rising to ludicrous highs, they ignore that companies have made college degrees worthless... I could go on here.
Both of my grandparents would slap their children silly (especially my grandpa Adolf (it was a common name at the time), who would probably bend all his children over the knee for even thinking about supporting the now-fascist GOP) if they were still alive.
In essence, a good portion of the Boomers are acting like this:
They can't accept that things have changed... and they complain that their children and grandchildren are killing everything when the reality is that they are killing everything. They are either willfully ignorant or outright maliciously ignorant that the job market has been disappearing, they ignore that the CoL has been rising to ludicrous highs, they ignore that companies have made college degrees worthless... I could go on here.
Both of my grandparents would slap their children silly (especially my grandpa Adolf (it was a common name at the time), who would probably bend all his children over the knee for even thinking about supporting the now-fascist GOP) if they were still alive.