boomer logic: “we bought with 18% interest, stop whining”

Every time millennials complain about housing, boomers jump in with the same line: “We bought with 18% interest in the 80s. Stop whining.” Yeah, except houses cost 3x your annual salary back then. Today they cost 10x. It’s not just about the interest rate. It’s about the fact that the starting line moved miles ahead. Do you think older generations are being honest here—or just trying to protect their pride? #House #Mortgage #GenerationalWealth

7 days ago

Lisa Williams

Not only were mortgage rates high but interest on car loans was high and interest rates on credit cards jumped to higher levels affecting many who carried balances on their cards. Income was much lower and you got much less house for the prices you paid. Every generation faces challenges. It is just that the generations after the Boomers have made victimhood and whining a lifestyle instead of focusing on adapting like the Boomers and the prior generations did.

Raeford, NC

Reply(4)

Liz G

And houses cost way over what my parents payed. So?

Gainesville, VA

Reply(15)

Steve's Model Mania

When I bought my first house in the late 80s interest rates were 10 7/8 and I made a lot less than the kids today make so stop whining about the high 6% interest rates and refinance when the rate goes down you babies

Milton, DE

Reply(1)

Wayne Spiler

Now divide that in half because current homes are twice the size and have twice the luxury feature.

Rancher Larry

I built my first house myself. I mixed the concrete for the foundation to save delivery, gave up every evening, weekend, vacation and holiday for three years to do the work, and built a 1 bedroom 1 bath designed to be added on. It wasn't much, but it let me quit throwing money into the rent hole. I was 29 when I started. Young people nowadays are lazy.

Myrtle Creek, OR

Lonesome Dove

Genz wants 2000 sq ft 4 bedroom homes or they throw a fit. My first house was 1000 sq feet no garage and one bathroom. Kids today turn their noses up at that and say “I’m not buying thhhaaat.”

Nathane Dn

once America goes bankrupt the boomers will ultimately be the losers there so this is sad

Suffolk, VA

Maul

If you signed the loan it's your own fault.

jonathan hodges

Stop with the nonsense. Save up the money, and you can buy something. You discuss and talk about it. Develop a plan and implement it. Anyone who brought a home had a plan and stepped out on faith to implement it.

Camden Wyoming, DE

N M

look at the size of a starter home back then compared to a starter home now. I do agree that home prices are rediculously higher. But did anyone really expect home prices to stay at 1980s prices for 45 years?

Skiatook, OK

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