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Housing market
(thelemmy.club)
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this post was submitted on 29 Jun 2026
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Boomers selling their homes at 10x cost and preaching about savvy investing
$20,000 in 1965 is equivalent in purchasing power to $212,776.51 today.
So it's not about savvy investing, it's about inflation.
Not even an exaggeration. My parents bought their house in the 1960s for $14K. Their 30-year mortgage went almost to the year 2000 and their monthly payment was fucking $85 the entire time. They sold it fifteen years ago for $190K.
Damn never realized this but every boomer homeowner is actually an investment savant. Why are we all so stupid? Why can't we just do this? ^/s
The dumbest financial mistake you've ever made was not going into debt immediately to buy a home the day you were born. Should have planned ahead.
$14K in 1960 was $167,000 by 2010.
Average salary of a worker in 1960 was $3,700.
I paid $320K for my house in 2002 , which peaked in value to $1.6M by 2022. That was insane, it's now worth $1.2 or less and headed downward.
It should be worth $600K. People took out HELOCs on houses now descending in value.
Yeah, the location was not one of those places with seriously insane housing appreciation. Small town in Ohio. 14X appreciation is still pretty good.
The problem is the house is so overvalued, they never modernized it, and is far beyond what most people can afford for it. They're just born at the right time to be able to retire and have a house.
nah it’s deregulation on corps buying homes as investments
like usual thank republicans and neolibs
Also, AirBnB creating a system that incentivized the purchase of homes as rentals.
Taxation could fix all that. How many politicians own multiple housing? All of them.
And buying up all homes, then renting at high rates and making the market so scarce that the few that can afford to buy get bid up to the maximum they can get a loan for, and then stay enslaved to the mortgage banks and never fight for their employment rights, healthcare or political rights or anything else that could jeopardize their livelihood.