Baby Boomers Won’t Give Up Their Homes!
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- Опубликовано: 25 мар 2024
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The caller is blaming boomers for keeping their hiomes. Yet he wants to keep his home that his boomer parents co-signed on. Got it.
Glad the caller isn’t my son given his view of the elderly!
More than that, he wants to buy a second home to buy - so he himself wants to have two, while saying baby boomers have to give up theirs.
@@beckypetersen2680 He's an idiot, through and through.
Mommy co-signed for him and now he thinks he's ready to be a judge on Shark Tank.
😂😂😂
I hope his parents never give him power of medical attorney.
Haha, perfect! Unfortunately, this little puke is in the health care industry, ready to pull the plug on any one of us who gets sick.
Touche!
His attitude is why parents need to be cautious if they are leaving their kids a lot of money. Those kids could be ‘waiters - waiting for their parents to die).
I think that he should sell this co signed house.
There's no reason to argue with the Dave Ramsey personalities who you call to hear their advice. Either take the advice or not.
Strong opinions for a guy whose parents co-signed since he couldn't qualify.
Yep and that the only reason he has any equity is due to the vagaries of the market.
A financial genius for sure.
Thank you.
I caught that too. "I know what I'm doing except I put myself in this weird situation with my parents"
The guy definitely is watching too many tic Tok guru's
He prob followed Daves advise to not use credit and build your score :D
The ageism is strong with this one.
Yet he doesn't realize many boomers 60-78 years old are still working and have 30 years of life left.
Yup dude thinks he has it all figured out because he has 100k in equity in a parents cosigned house. He thinks he now knows everything 😂😂
Please don't use stupid words like ageism. You make yourself sound as dumb as the kid who called in.
Yeah. The younger boomers are in their 60’s, which apparently is “ancient “…..
Amen!!!
Why would anyone want to move into a care home unless they have absolutely no other choice.
You don’t have to move into a care home… you can move into a smaller home that takes less effort to clean.
That’s my husband’s and my plan once our older two kids are out of the house….
I don’t want to stay in a giant house that takes a lot of effort to clean just so the kids can feel happy to come home to their old home …. Maybe I am not sentimental because I don’t care to stay here.
It’s a place to live and I would rather live in a house I can take care of
It is easier to clean a house than move completely especially if you are way up in age
@@Jaxmusicgal23 That certainly sounds like a great plan and is what I would like to do. Here, a smaller house in an area as safe as the one I'm in would be so close to the price of my house, my cost would be the same to get less, simpler to use less space in the house I have. The demand for small houses is large and they aren't building new ones. The areas where there are lots of small houses are not safe. Condos or patio homes have HOA fees that would increase my monthly housing cost. Seniors don't fit into usual apartment communities, same with mobile homes. A great option is senior communities but, most of those are government subsidized and you have to qualify to get in. If you have saved for retirement, you won't.
@@user-sy7jq9ut8u The rooms you don't use don't get cleaned.
@@Jaxmusicgal23well here's the thing if your home is paid off for
selling and downsizing can actually be more expensive..
For example
I'm a millennial I purchased my home in 2014
Thanks to homestead exemption which limits how much my property taxes can go up every year
I only paid 1500 last year for property taxes .
If I was to sell my property and purchase another one the new tax rate would be based off the purchase price.
Now considering property values have more than tripled since 2014.
I would be looking at $7,000 a year in property taxes and that's downsizing FYI..
People in my area can't sell small condos there are several on the market they can't get rid of
Why? because the insurance ,property tax increase followed by condo fees
Make it more expensive. You pay a pretty penny for the maintenance they handle on your behalf.
As a 60 year old boomer. I'm doing just fine in my house and don't need a facility right now. Thanks anyway.
Caller wasn’t trying to ‘help’, he wants to buy your house & rent it.
And just prep house for when older, i.e., wider walking areas; grab bars.
67 and love my location. I live in a vacation town. Not selling anytime soon!
Yes!! Thank you!!
I'm seventy, and I'm not selling my house. I like it here.
So this guy is in health care and wanting the elderly to die.........what a jerk
He'd make a great member of a death board, deciding who got to live and who got to die. What an evil prick.
where is the time stamp where he said he wanted elderly people to die?
He wants them to move into care homes.
@@AngieMcdonald-fu9nh Nope, he implied that eventually they will not that he wants them to. Which is true. They also will eventually die. This will take 10-15 years and then negative pressure will be put on prices but not until then. Prior generations downsized in their 60s but boomers are the generation raised on the mantra of "whoever dies with the most toys wins" so they won't until they have to. These are simple economic realities. Eventually the largest generation in history will die or move into LTCFs and prices will experience downward pressure but they are likely to stay elevated until then because they all just refinanced their mortgages at 3%.
There are a lot of questionable people in healthcare. It's quite alarming. I worked in biomed for 7 years.
I’m 42 and in a paid off home that is perfect for me and my family. I don’t know what the future will bring but if I feel at 90 what I feel now about this home, you will need an army to get me out of my house. I don’t care what some little punk thinks
Yell your wife I said hi
Exactly my I am 36 and I love my home my neighborhood. I will not be moving. 😂. Mine is almost paid off.
@@ruruvarela Maybe some squatters will move next door to you, and you will change your mind.
Kudos to these two Ramsey guys for keeping control of their emotions during this call.
Glad this HEATHCARE WORKER holds our elderly population in such high esteem 💔
Guess who will secretly pull the plug on an elderly patient in the hospital? He's the LAST person I would want taking care of me!
Healthcare is going and has heen going down a dark path.
Right?? 😅😅
In Australia, healthcare workers can’t afford to buy their own house. They would require 12-14 times their annual salary to afford a basic apartment or 1 bedroom flat. I can understand why the average healthcare worker is wanting a raise!
@@thundersnow93 My thoughts exactly! Scary.
dude bro is just mad because he can’t “own a real estate portfolio BRO” really easily. This is the kind of guy that bankers absolutely love
Dude, bro, bro. Can’t stand the way these woke speak.
This kid is hilarious. As a 59 year old I would like to say he has alot to learn. Haha..thanks for the laughs this morning!
Yeah, you need to hurry up and kick the bucket so the housing market will settle down.
@@ARKenMan
😂 🤦🏻♀️
Yeah, me and my hubby might die in ours, after 24 1/2 years we finally own , we can finally enjoy life and breathe, so junior can go pound sand.
Spoken as a true boomer
Get out old man
Good job John and Ken for calling out this kid. “They’re taking up homes..” “No, they bought those houses.”
Are they not still in the homes? Both statements can be true.
2MM second homes: vacation homes
were bought by "boomers", 2.0% interest rates helped.
Grown man
Not a child
I do think his comment of “taking up homes” is so weird, like, do you want them to cease to exist?? They’d take up homes anywhere. It was funny
I remember a letter in Dear Abby some years back that insisted Baby Boomers were selfishly clinging to well paying jobs to live luxurious life styles while younger people were forced to work multiple jobs or wait to start a family. I still laugh thinking about it.
When my 25 yo daughter bought her first house last Fall, the only way we were involved was in the phone call where she said, "Hey, I just bought a house."
Same! My 28 year old daughter and her husband called to share the news that they just bought a house! Raised responsible adults and cheering them on to win!
Obviously don't co-sign for them, but I feel like a healthy relationship would have them asking you a few questions and consulting your opinions before a purchase that large.
You raised your daughter right.
@@LegDayLas You don't know what she was taught beforehand or what kind of self-education she had. I didn't ask my parents anything when I bought my first house. I did my own homework. It had nothing to do with our relationship.
Imagine bragging because this guys parents were willing to help. You wouldnt co-sign if your daughter asked? No discussion about it? Odd. I'd want to help my child anyway and work with them to ensure a better livelihood.
I think he will look back at this call and feel embarrassed
You know, that was my initial thought, too. But, upon reflection and listening again, I don't think he's the kind of guy who feels remorse. Just listen to his tone when he discusses his patients. He's unsympathetic and callous.....like he'd step of your head to get a little taller.
Nah, he's delusional. Delusional people never feel embarrassed and never admit they were wrong.
We can only hope
Highly unlikely, ego is too strong
Nope 😂
"I'm a healthcare worker" hahahaha the arrogance! Im an ICU nurse. Got news for him, most people grow old in their homes. They don't die in nursing homes. They might die in my ICU, surrounded by their families, but they lived in THEIR homes up to that point. What a piece of work, but thankfully, we aren't related lol
True, but my hubby is a home healthcare worker and there are a lot of ppl living in their homes way past the point in which it is safe for them to do so. (Whether that be bc of constant falls, memory issues where they are doing things like leaving stoves on, or just not enough physical health to do things like pick up the cat feces that is all over the floor, let alone shovel the driveway. 😬)
You are a hero. ICU nurses are the best. I fell in love with mine when I was on the vent. lol
I work as a med surge nurse and a home care nurse. I have clients in their 100 years old and still live in their houses. What a selfish arrogant person.
Meh. He makes a fair point. Many boomers will age out of their large homes.
He also said he studied economics. And he sees the future…
it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from €275k to around €750k.
Do you mind sharing info on the adviser who assisted you?
The decision on when to pick an advisor is a very personal one. I take guidance from monicamary Strigle’ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
What he’s saying is that he thinks the elderly need to ‘go away’ or just die. This guy is a piece of work
He isn't saying that needs to happen, he says until it happens.
@@Marcus-id5ur you’d make a great politician
@tylersanders2388 is he wrong? Are boomers not taking up a large portion of the housing supply? It isn't a judgement, and nothing wrong with it, but it is factually correct. I don't know why everybody is getting worked up over a statement like that.
He's a piece of something else, too.
And he works in healthcare. Frightening.
Life has not kicked his teeth in before.
Yet ...
Take out that heloc, go for it bud ❤😂
But it's going to before long if he doesn't wake up, and it will kick really hard.
Don't worry, it will.
But it will.
This is your brain. And this is your brain on Instagram. Any questions?
Funniest comment!!
Oh great reference
A long term care facility at about $9,000 per month...settle down son.
That's why they need to sell the homes :D
I live in a cheaper part of the country. The cheapest government run and subsidized ones are 3kma month, 2 ppl per room, a bed, and small nightstand, 1 shared tv. It is set up like a hospital. People go to these facilities to die. My mom chose one of these because it would let her smoke. My sister and I snatched her out of there and found an assisted living home for 4500 a month. It is not hospital quality, but 1 person private rooms with bed, large dresser, satellite tv, private bathroom. Our homes are not wheelchair friendly, so she would be trapped in her room with us. I wish I had the $ to Reno my home for her, but that is not possible. We got lucky to find what we did, most are not.
Boomers aren’t the problem; it’s large corporations and real estate investors snatching up the affordable homes.
This is it. The big corporate landlord. Buy up all the houses and charge extremely high rent
I think this strategy is going to eventually bite the big corporations. I just hope we don’t bail them out when it does.
Boomers are the problem because they voted to give themselves Social security and Medicare increases that they didn't pay for but kicked the can down the road to their kids. Now they get all these government benefits so they can afford to stay in houses that are subsidized by the very tax payers locked out of the housing market. What is even worse is that these boomers want to increase the retirement age for the generation paying into the system now and in all honesty will probably suck the fund dry and the millennials will get nothing in Social Security.
Yep and use generations as pawns against each other
The problem is huge and boomers are definitely part of it. Large holding firms like Blackrock are also part of it, but not as significantly as you think. Firms like Blackrock and corporations like Zillow have bought about 450k of the approximately 2.5M single family rentals, in the US. The total number of single family homes in the US is about 83.3M. These are numbers from a 2021 report made by Roofstock and it was published by Forbes.
Co-signed with mom, thinks Baby Boomers should go into retirement homes (they shouldn’t), says nothing about the real problems, wants to take on a HELOC, calls The Ramsey Show with these ideas, and he thinks he knows the future of his area?
You guys were kind to him, but he needs a wake up call before disaster.
I’m sure when he’s retiring and he has a big paid for home that he worked his ass of for, that he’ll happily move to a retirement home so the next generation can have it 😂
In 2011, I bought a $250K home for $50K.
I knew the future but did not think it would be 10X.
Can you imagine the tongue-lashing Dave would have given that guy if he'd taken the call?
Let me just state- I think it is incredibly wrong to force elderly to ‘sell up’, and move into retirement homes. However, the boomer generation has been doing this to their parents for years. It’s just wrong!
@@TonyCox1351
Perfectly said.
Any adult that needed mommy and daddy for a loan isn’t ready for any type of investing. He’s in his 20s, young and inexperienced.
That’s ok because according to him he “knows what will happen”. I can look back and shake my head at myself but I can honestly say I was never so arrogant as to try and tell people who do it for a living how it was going to work.
I cosigned with my parents and then refinanced 4 years later to take them off the loan. Glad I did, because real estate was so cheap when I bought and has since shot up like crazy. If I had waited until I myself had enough, then I would have been priced out of the market.
I don't agree with the 'mommy and daddy' patronizing, but he definitely has an attitude
He said he "studied the market" which means he watched 2-3 videos on TikTok. Research to his generation is a few clicks and twelve minutes.
Kind of like trump lol
Why do they need to get out so you can have their stuff, why do they need to do anything? It is their housing, they worked their butts off to pay it off, leave them alone. The caller is in his 20's and has typical distain for older folks "Get out of your house, I need it, go into a Home". He already has one house, he wants more. Greedy jerk.
That was the part that was mind boggling. He made it sound like there were no houses when he himself has one....but just wants another one.
I remember when I knew everything too.
It isn't what you don't know that gets you in trouble. It is what you know for sure that just isn't so.
- Mark Twain ?
😂
😂😂
Me too!😂
Me three. The good days when you are too stupid to know you don't know. 🤣🤣🤣
The caller is correct in that it was simply cheaper for the boomers to buy their houses, not just because inflation but in general. But to suggest once you get old you should be moved into an old-folks home so others can live in that space is dumb. He's upset because young people can't buy homes, but wants to buy additional rental houses contributing to the problem? Huh?
Guy is all over the place
He is not correct. Yes houses were cheaper, but the average salary back then was not upwards of 60 grand either. Plus, back then most families were living on one income. Now most families live on two. Twice the $$$ to pay for a home now. Additionally, interest rates are waaayyy lower. The interest on my first home was 12%. We refinanced at 8% and thought that was a deal! Now, most 1st time home buyers want a McMansion with all the bells and whistles. My generation bought simple starter homes and worked up from there. My 1990's simple ranch is paid off now and nowhere can I live for the price of my property tax and house insurance. He can go pound sand. I'm going to die here and that's they only way I'm leaving. When I go, my 3 kids will inherit this house.
@@user-tq8jo7oh2n Yeah we know the average salary wasn't $60k, but look at the ratio of income to house prices. Most families MUST live on the income of 2 because a single income household is not often possible anymore. 12% interest on a $40k house is a different story from 7% on a $400k house. You've made all the arguments against your own points.
@@Sizukun1 Compare the average sq ft of homes then and now. Starter homes were much smaller and people stayed in them for years saving for a larger house.
@@user-tq8jo7oh2n
It is all supply and demand. Less houses more people creates prices increases. Over regulation on top of that such as local codes requiring air tight highly insulated homes is doubling the cost.
I am a baby boomer. And spent over 32 years in mortgage finance. This guy is a bankruptcy waiting to happen. This is not the market to be leveraging equity. And he is going to drag his parents down with him. Very sad.
I hope that this call will find its way to his parents..
Talking like he has full control of the house and he can decide wholly and solely on its future.
What a knob!
Hey, those parents signed on the line.
I have an idea for this guy. Why doesn't he sell his property cheap and go find a facility to live in. He won't have to worry about housing anymore.
Hmm Early Baby Boomer here.. 30 years ago my husband and I bought our tiny little Ranch home in a less than desirable area of town. We worked hard and last year I paid our home off. I get calls, emails and texts at least 3 to 4 times a week from people wanting to buy my house which is now considered a desirable area we have people buying houses sight unseen just crazy. Anyways a very cheap ghetto assisted living place to live here starts at $6000 a month jam packed in like sardines in apartment style senior places. We bought our home to be away from apartment living all those years ago. I have a large fenced in back yard and a good sized front yard where I grow a garden every year, have 5 dogs that have a good sized yard to run and play in. And when I die? My home goes to a dear young friend who can't afford to buy a house. It will never be on the market. Anna In Ohio
Exactly. Stay as long as you can in your house. Assisted living, you get Jessie to take car of you😵💫
God bless, Anna. May you and your husband both live to be 100!
We keep getting calls from people wanting to buy our house too, or our second, adjoining property that was vacant for years until 2 years ago, when my husband finally built the pole barn he's been wanting his entire adult life, where he can do his automotive and auto body work hobby, now that he's retired. I don't usually answer the phone when I don't know who it is, but I did answer once, with someone who wanted to buy our house. I told her we plan to live in our house for the rest of our lives. She still wanted me to call her if we changed our minds. We won't.
There are ways to take care of your home if you can't. Stay there until journey's end. You've earned it.
LOVE IT
Wow, this guy has some balls. The people his talking about, paid for their homes and they have a right to live in them for as long as they want. I'm a millenial and I've never thought, " Gee, my mom and dad need to give me their house and go into a retirement home". That's a very entitled, immature and inhumane way of thinking.
What’s inhumane is me paying SS that I might not ever be able to get because they used it all up not to mention how rude and nasty 75% of old people are
the caller works in healthcare too hahaha
@@DB2SAUCYpreach!! Boomers are by far one of the most entitled generations of all time. They got so incredibly lucky from an economic perspective from the shift off the gold standard into fiat, and being able to take advantage of asset purchases when prices were astronomically lower than they are now as a result of the last two decades of economic policy decisions. They even lucked into the real estate collapse in 2008 because most of them weren’t retired yet. So they already owned homes they weren’t retired so they didn’t liquidate their 401(k)s. They still had pensions and now everything has come back three, four, five even 10 times in value, and all they had to do was nothing. And if you ask them about it, most of them will tell you that they earned everything they got. When in reality, they only earned a very paltry portion of their assets and got unbelievably lucky for the timing of their asset appreciation relative to anyone that’s been born in the last 30 years.
@@DB2SAUCYMy parents retired at age 60, and lived close to 90 years old. They most certainly received more in SS than they ever put into it. I gladly supported my parents. They took care of me, so I took care of them. My husband and are working beyond full SS retirement age, and we haven’t applied for Medicare yet, as we’ve got a good employer-provided medical plan. We’re choosing to lighten the burden on YOU down the line.
@@probablynot1368If you wanted to lighten the burden, you would vote to end Social Security or at least reform it to make it perform better, but Boomers won't, because they want the entire world.
This is the sentiment of a lot of young people today. The country is even divided generationally. I never, once, thought that I was competing with the generation above me. We have raised the most entitled generation in US history. I miss the Greatest Generation.
You did hit the nail on the head. "You raised the most entitled generation", at least you recognize your responsibility.
I agree younger generations like mine are entitled but the boomer generation were the generation that cause the 2008 crash by borrowing recklessly to get richer and live a entitled luxury life. Millennials and gen z were under 18 and didn't sign contracts with banks to borrow money they could not pay back.
@@whattheshep6814 BS… My generation did. My guys are ANYTHING but entitled. I’m watching them deal with their entitled peers…
My mom and dad are part of the baby boomer generation and they know how messed up the market is for younger people, they care, and they helped me and my brother to do better in life. It’s not the baby boomers, it’s the mega corporations buying up all of the darn houses!!!
@@FancyRPGCanada Yes… That is DEFINITELY the biggest issue. I’m helping one of my boys get established. But, he doesn’t blame the generation above him, or expect them to vacate for his needs. He knows what the real issue is.
Boomers 60-78 years old. It cracks me up when they call people in their 80's and 90's Boomers.
This is scary! There is so much hate in our world for anyone who is not the exact same as us. You can tell, he literally sees no value in an entire generation of people. He just wants access to what they own. That is so sad!
Might he be a sociopath?
He's not alone. I've seen that sentiment time and time again in the kids his age. They despise older folks and think they should all die. It's scary.
Indeed. So many derogatory comments towards "boomers". It's crazy.
Sociopath or pychopaths and he just outed himself, karma is coming for him.
American mindset. It is selfish and cruel. This is generations of the "independent" mindset finally coming to fruition.
We're keeping our house, whether this joker wants us to or not.
I keep hearing people complain about "ancient" Boomers and I don't think most of them know their actual ages. They are not upper 80s and 90s. Their generation is defined as being born from 1946-1964 so as of 2024, they range in age from 60 to 78. Many are not even retired yet. Are you telling me that actively working, healthy people in their 60s need to be forced into nursing facilities? He is delusional.
My Silent Gen parents and in-laws are in their early 80s and both sets are still living in their own homes, healthy, and active in their communities. The Boomers are much younger than them and have had access to better healthcare and information. They don't have one foot in the grave. Sorry dude, the Boomers aren't going anywhere anytime soon.
This is so true. I went to my 50 year class reunion last summer, and all of my classmates who were there don't look even close to being elderly. We're all still fully capable of living independent and productive lives.
Yeah 60 is like the new 40. Ppl are not retiring. Boomers are still kinda young to me. They have freedom to work, travel, enjoy life; without the stress of raising young kids. If a boomer is healthy, he’s living his best life right now.
We're "taking up homes" ?!?!? We worked and bought these houses. How arrogant the caller is. Screw him. He sounds like a TikTok influencer with his scheming.
That terrifies me he works in healthcare. People have every right to stay in their homes. Period. What is this rationalization to move people out of their HOMEs?!
They do have a right… but our housing crisis where it’s at now because the next generation won’t downsize like my grandparents did….
So all these beautiful family homes are now not being maintained and cost a fortune when you get into them older people are not moving out of their family homes that their kids grew up in for sentimental reasons …
Pretty much every single house in my neighborhood and older person had to die, but before that their house was already falling apart because they wouldn’t downsize …
Maybe they would’ve longer if they weren’t trying to maintain a two-story family home and moved into a one story smaller house that they could enjoy life and not hang onto something so large …
Generation before the boomers understood this… I’m not sure why we can’t understand that it’s OK to not be able to maintain the house that your children grew up in your 50s and 60s… it’s OK to move into a smaller manageable place so that you don’t end up in a nursing home because you worked yourself to death trying to keep the home you bought when you were younger with several kids.
It’s time to see that downsizing when you’re older is a blessing to the next generation so that we have places to live …
Hanging onto something longer than you should … you have a right to do it… just causes problems for the next generation trying to figure out where to live and the price of houses go up so there’s nowhere for us to go…
The same people who won’t leave their houses also complain about the new neighborhoods everywhere… if you won’t move out of your house and sell it to a new family as an empty Nester, where are we going to live with our kids? we have to build and therefore it creates more houses and less pretty open spaces….
I guess I’m pretty old-fashioned… I liked what I saw my grandparents doing. So when I have my older kids grow up and move out., we will downsize with the last two and live in a smaller house so we can enjoy life because we will be getting older… I don’t want to spend my days trying to keep up our house that our kids grew up in just so they can feel good about coming home to what they know…
I would much rather have a smaller home. I can take care of be able to focus on my health so that I’m around here and don’t have to be in a nursing home the last 20 years of my life. ..
I’m a boomer and I’m only 62. Why would I want to give up my house?
Better yet, why should you have to?
You're good for now. In 20 years it will likely be someone else's house
You wouldn't and he didn't claim you want to. His claim was that is what is needed to "fix" the housing situation. It's incredibly ageist but in essence he is not wrong. If all the boomers homes went on the market supply would skyrocket and homes would become affordable.
@@LegDayLas Yeah and then you'd have to worry about an entire homeless generation. This nonsense of blaming boomers for the country's current problems needs to stop. We worked hard for what we have. We also had no control over politicians who didn'tt listen to their constituents. If boomers had a flaw, it was still believing that our leadership was as patriotic and consciencous as we were.
@LegDayLas where would the boomers live? That makes no sense.
He had all this knowledge but had to co-sign with his parents on his first house.
The entitlement is strong with this one.
Yup. He complained "boomers need to get out of their homes"...yet he CAN'T see if he buys another house to live in and keeps this one as a rental...HE prevents another non-boomer person/family from being able to BUY the house he wants to use as a "rental" !!!
Best
May the force be with him😅
He’s a health care worker?
Yup, he's a bit of a jackass.
will agree and these arrogant as- holes will do just the opposite and then they want somebody to get them out of their problems
He called the wrong show 😂
Im a millennial with a paid off house who won't give it up either.
"Don't have anywhere to go besides their homes?" I'm nearing 70, and at least once a month I get an invitation to attend a program or event at a retirement facility....translation, come eat some cookies and get a sales pitch. Never been, and not ready to go....but there are obviously places I could choose if I wished. On the other hand, I can point to people in my church small group who are 10 or more years older than I in all sorts of living situations...the home where they raised their children, various level of senior living facilities, sharing their long owned home with an adult child and child's family, etc. This guy is crazy.
Little boy thinks he's got it all figured out.😅
That’s what watching TikTok will do!
@@giggle1971 Ah yes, the TikTok School of Life. What could go wrong?
Look out ladies, we got ourselves one extremely eligible bachelor ❤️🔥
Just watched another Ramsey podcast earlier, about a woman whose boyfriend wants her to move in, help pay the mortgage, and in two years he will see if she qualifies as 'wife material'. I reckon the call could well be about him! He seems the type.
I wouldn't be surprised if he moved his parents out of their house.
Absolutely a 20/20 episode. 😂😢
Was thinking the same thing.
the caller is counting his inheritance already damn
@@cutehumorShame on him😠
i would like to apologize for busting my butt and working long hours and now still living in the home I bought... I am so selfish!
👌🏻
Dang, this dudes got it all figured out huh.
Caller can't even afford one without a cosigner. Now he is a cocky real estate mogul? Saying: A fool and his money....
@stevenporter863 Nail on the head. He sounds like a millenial, as a fellow millennial, we dont claim him😂
@@laneylunevaI’m also a millennial and know so many people my age who think like this kid
I'm a baby boomer and I'd love to get out of my home. I live alone, I'm part of the growing number of people that do. My house is paid off, was the day we moved in, 3 bedroom, 2 bath with a full basement, it doesn't fit me. I'd love to have a tiny house on land I own but, that is illegal where I live as well as most places in the US. If you want baby boomers to give up their homes, give us an option. I don't want to live in an apartment, condo, any place with HOA fees, a trailer park or a tiny house on wheels in a RV park. A tiny house on a lot with a garage is doable. It's just not legal. I can understand not allowing them everywhere but, why nowhere.
There is a house in my town that is one large garage for an RV, with a couple of rooms (probably a kitchen and bath) and a nice deck attached. When they get home from adventuring, they pull the RV in the garage until the next time. Could potentially just sleep in the RV regardless? I dunno, but it's interesting
@@JaneyRhino Yes, a barnominium! Is not a house here or most places and is illegal. It won't get approval for the building permit and it does not pass code. There are people that buy a commercial building and live in it but, they go out of their way to find these people and have them removed from their property.
He’d rather you go in an old people’s home or die, he’s a charmer isn’t he.
Wow, no compassion for human life at all with this guy
And he's in Healthcare... Damn scary.
"They are taking up all the homes, they should die or go into homes"... Joe Biden's America of entitlement.
@@machutson5493I thought the same thing. This is the twerp who will be rationing care.
The young generation is just disillusioned by the fact that boomers bought their homes for $10,000 and now have the arrogance to sell it to the young generation for $500,000
some of the meanest people I ever met in my life work in hospitals
As a boomer, this guy is emotionally cold. Waiting for someone to die so he can buy the house is just cold and go into debt to buy it? Wow! He rejects the wisdom of 2 older men with experience. Arrogance.
i can only hope i live long enough to see what happens when the shoe is on the other foot with the indoctrinated generations that are out there....
WOW.....
Maybe if boomers had to deal with the same housing market as a first time home buyer they’d understand. The boomers parents lived with preserving a better future in mind, meanwhile boomers want to preach and make it harder on their children.
If the caller were a doctor he would have absolutely no bedside manner. It is real but called generational wealth transfer, not waiting for others to die.
@@DDDD-of3hv every generation is indoctrinated by the way
@@stevenporter863 His attitude was: just die already so I can buy your house. And I'll go into debt to buy it. I'm such a smart guy. He is arrogant !!
This young man is not the only one with this attitude. I keep seeing articles pop up on my Google screen on this subject complaining about baby boomers. I don’t read the articles. Titles are very offensive.
Has this caller ever heard this show??? No one on this show would EVER advocate taking on debt UNLESS it's for your primary residence on a 15 year fixed rate mortgage.
That was my first thought. Why did he call the Ramsey show if he's not talking about paying cash for his next property.
They have advocated debt in one other instance, and that was to pay unplanned for taxed. A guy who had a business that was taking off totally failed to factor in the fact he needed to pay taxes at the end of the year and they told him to go into debt to pay it off. It's better to be in debt to a bank than in debt to the people who can and will put you in prison.
@@LegDayLas And it isn't advocating getting more/new debt. It is debt you already have. It is changing to whom you owe the debt. The government is not a lender you want to owe.
Humility is our friend, sir
How dare these people keep living! Entitled boomers. 🤷♂️🤦♂️
Hope his parents are okay with this HELOC since it will be their HELOC also. Yikes. Sell the house and then decide what to do with the profits. Invest, buy two houses, buy another house, etc.
The loan is cosigned. It's not even his loan.
This caller is on crack. I'm a boomer, my house is paid for, and I am not going anywhere and probably have 25+ more years here....as well, my health is great. Where do these people get their ideas from? 😊
I'm a millennial. Please, don't think this guy represents all of us. The caller is a ridiculous, entitled brat. I worked hard and bought my home without expecting any previous generation to move over for me.
@@Aki_Lesbrinco thank you for your comment. I'm happy that you have planned for your future, very wise. This isn't the first time I've heard someone in a video say 'the baby boomers all need to sell their homes'. It just cracks me up. My 3 sons have made good choices also. Have a great day!
Democrat/Socialist party
All these crackpot ideas are being taught by woke public schools, universities, leftists politicians, and rabble rousers to promote class envy, pitting one group of people against another while the elites running the country plan and scheme to keep the average person "in their place".
*Sarcasm alert* As a boomer, I appreciate the caller's advice. I thought I did the smart thing and paid off my house and have no debt so I would not be a burden on my children when I retire. I guess the smart thing to do would be to move into a "facility" for the next 30 years. My modest Indiana house will certainly cover the estimated 2 million (today's) dollars my facility will cost
That's assuming I can sneak my boomer husband in my room so we can live 2 for the price of one.
"everyone should do what I want them to do because it will be better for me and bad for them...but it doesn't matter because they're old"
If there's a housing shortage, why are there so many empty homes with squatters that won't leave? If there's indeed a shortage, there shouldn't be that many empty homes.
Rich kid who thinks he knows EVERYTHING. Hes gonna end up learning the hard way.
Don't worry, it sounds like Mommy and Daddy will bail him out when he does.
That is, if he hasn't already shipped them off to a care home already.
This guy is going to be floored when he has to fix up a trashed rental home, gets a squatter, or can’t get a tenant out. Whew!
I am a baby boomer, 71 years old. Why should i give up my home that I bought December 2021 for $1,500,000 cash? Are you saying I don;t have a right to enjoy my home
Congrats, sir!! And stay there as long as you can. Hope you make 100+!! Enjoy your retirement that you have EARNED, and ignore the whines of today's youth. Nothing more than background noise that can be drowned out by the laughter of friends and family!
Put that money towards your race
@@haroldgarling1063 ?
Nice brag... 🥺
@@bettysmith4527 Dude's 71, and earned that house. Why not brag. Biden brags all the time about stuff he never really did. At least this guys actually accomplished something.
“These old people are taking up all the homes and it’s stopping me from buying all the homes”
😂
He is right. The millennials are competing with boomers for houses. The boomers are winning because they already have a house. So they sell it and they buy a new house with straight cash. While millennials have to scrounge up the money.
This guy drank the Doomer Crash talk kool aid. He's lucky he has a place in the first place.
The only way housing prices go down significantly is if either a bunch of people get foreclosed on (supply goes up) or a bunch of people lose their jobs (demand goes down) so this guy is praying for a massive recession. Fun!
Yeah, strange thinking for him. He is awaiting the crash, but wants to take equity to buy another piece of real estate. 😂
Home builders are already discounting homes 10-25% the used market must follow
@@thedopplereffect00 No they aren't...they are making record profits...smaller sq ft homes leads to lower sales prices, but comparable comps are up almost across the board...the only market going down is luxury because people are rate locked and aren't moving up...
@@tstanley01 just look at the numbers
As properties are valued at 50% more than what they were just years ago the property taxes increase that amount as well. This is an expense many don't take into account.
absolutly true and the townships are in the mix they want the older folk to snow bird permanently and then get the restructured prop taxability
It's crazy. Property value "went up" 50%, this means tax assessment went up 50%, but my income never went up 50% 🙄. At least in my state, property tax is locked to inflation until you move. Then it zooms back up to market rate.
Property taxes should go up. You get to enjoy the asset value increasing right? Well then you’re going to enjoy the more expenses taxes that come with it.
Not in California. I bought in 2011. Assessed value more than doubled. Actual comps almost tripled. Property taxes went from about 4700 to about 5500 including fixed items of about 1200 a year.
@@theflightsimulationexperie6894 Wellll, we are mom and pop landlords. We don't get any kind of break in taxes on our single family homes. I don't think a small home on a small lot should double in taxes when we haven't improved it substantially. If we eat the increase, we lose money. If we pass it on to the tenant, we contribute to the housing unaffordability in this country. I think we should cut the military budget and give everyone some relief. We don't need 800+ military bases around the world to protect our country. Without the overburdened taxpayers, bombing other countries would not be feasible.
Brother, as an end of the boomer generation boomer, I had to get roommates into my mid 30s and that was as an engineer. Tired of this crap boomers had it easy stuff.
Greetings, I am a healthcare worker. I see the baby boomers cry their hearts out because of this. They want to die in their homes. Allow them to do that. They have worked so hard for it
I don’t offend easily. But this kid offends me, a boomer, telling us we MUST let go of our homes. No respect.
Thinks boomers taking up houses is wrong but buying rentals (also taking up houses) is.. not?
Early 80’s we couldn’t buy due to 18% interest rate in Texas… gradually it came down some time later and we bought a small 1200 sq ft with 8% interest. The difference between a Boomer and a Zoomer is we were patient and started out small and very slowly years later bought a larger home. Zoomers want an HGTV two story 3000 square foot 4 bedroom 3 bath NOW… They have no patience… This caller is very concerning… No regards for human life…
My grandparents both died in their home. Family took turns taking care of them, in addition to have professional help here and there. When you go through things like the Great Depression, you learn how to be good stewards of your finances.
Perhaps he can be a part of the first colony on Mars. And stay there…
BTW - this attitude that seniors need to leave their homes is a true Stalin tactic. I really hope that not too many younger people think this way. It's truly sick!🤬
Sadly many Gen Z feel this way about the boomers simply because we are older. They are so jealous that we have a paid for home. No thought to how long it took us to get that. Just plain jealous. Jealousy = Hate. Sad world.
Private property is biblical. Baby Boomers have every right to stay in their home and should and that isn't the problem with the economy/housing market. This caller actually loves socialism and is in our healthcare system!
Scary thought that this young commie works in health care and is so callous toward elderly and people in general. He's clearly a product of today's woke school systems, blaming everything on the baby boomer generation instead of getting off his @ss and working hard to forge his own success.
The problem with housing is people like this guy who wan to speculate in the housing market,and keep borrowing money and bidding the price up, and wondering why they can't get ahead of the curve.
@@peterrose5373 Very true!
Whoa, whoa, whoa buddy. Boomers worked there whole life for their houses. They deserve to retire, and maybe they would rather stay in there houses, than live in a seedy old facility. And its so much cheeper. Nursing homes and assisted living facilities are extremely expensive!
You’re taking a loan out on your current home to purchase a second home just to save a couple percentage points. That makes no sense. What happens if renting does not work out or tenants do a lot of damage, it happens
He’s going to do it. So we need a follow-up call in about a yr.
A follow up in a couple of years, where he is so leveraged up, and the first domino falls...
Of course, that too will be the fault of the boomers (somehow) and not his own arrogance.
He lost me 10 seconds in when he said "I know exactly where the market is going l"
Developers are only building $400 k Plus homes in my area. There are NO starter homes being built.
I feel for the up and coming home buyers
@@michaeltewes7833 There's still the option of buying a piece of property, having an architect draw you up a nice starter home (or buy a set of plans) and then build it. Those cookie-cutter homes the developers put up are built like crap anyway.
@@AllynHin Exactly, my maternal grandparents built their house with their own hands and spent the rest of their lives there. My paternal grandparents bought an army hospital barrack after WW2, put up walls, and lived there for 49 years until moving in with me.
@@AllynHinthat's what I did, I got my floor plans from a house plan book at the bookstore and the contractor had official blueprints drawn up. I got to make adjustments and make it my own. I chose everything but the wood framing and cement blocks for the crawl space.
@@vickster4474 It's more work on your part than buying a house from a developer, but yeah, it's certainly an option for folks that whine because developers aren't building starter homes.
So he thinks all boomers should sell and move to a long term care facility?
Sounds like he thinks they are going to move out of properties they own and into properties he owns.
Right. So he can try to profit on another property. He’s exactly the problem he is complaining about
He said either that or pass away. Imagine a healthcare worker that thinks boomers should pass away or leave their paid off homes to go to a $6000 plus a month assisted living.
@@traveler320ak7OMG!
Eventually, they will have to. Aging in place is okay for some people, but many can't live alone at 90
Let's see if that caller is up for an experiment. Live in a nursing home for a month and don't let him get out of the wheelchair or bed without a CNA and a lift. Perhaps the phrase 'aging in place' may have meaning after that. A very entertaining call. 😂
This just makes me lol 🤯 why shouldn't the elderly be able to enjoy the homes they worked so hard for? And who's to say they should sell them, it would be more likely they will pass down through their family.
Blame the baby boomers for the housing situation??? They worked & bought their homes & paid a lot more in interest on those loans. They don't want to sell their homes- they have been there for 40 + years & don't need to sell or move. Don't blame them, follow in their footsteps!
You sound like a true baby boomer. I don’t agree with trying to kick out boomers and yes if you worked hard to pay your priority off then you deserve to enjoy it but don’t sit there for one second and argue that it’s not different now. We have the lowest supply in US history and interest rate back when you bought, home prices were less than a quarter. I’d take prices 30 year me ago with 15-20 interest rates all day then 7% today at todays prices. And you say, “follow in their footsteps”. Hahaha you have no clue what you’re talking about. Accept the fact BOOMER that getting into the real estate game is harder than it has ever been in history.
The average person can't afford a home on the average salary so it's simply not possible to "follow in their footsteps" for the average person
If the boomers were downsize and sell their houses… it would lower the price of houses because there would be more on the market.
Half of my neighborhood are people our age and all of us here bought our older houses from people who were older and had to leave their house because they couldn’t take care of it anymore… the other half are still those people who built these houses and they won’t leave them until they’re rotted messes the next generation and clean up a rental company buys it because they have expendable income to fix up a house someone couldn’t take care of for several years before. They finally got moved into a nursing home sadly because they worked themselves to death trying to keep the house up..
Why not downsize and get a smaller house that you can maintain and stay there and never end up in a nursing home … and enjoy life.
Let the next generation buy a house before it needs a ton of work …
Even if half the boomers in my neighborhood decided to sell in the next year, it would probably flood the market and lower the prices in my neighborhood.
If boomers would do this everywhere, it would solve the problem pretty quickly…
@@Jaxmusicgal23 that sounds ridiculous. What you want or think you deserve has nothing to do with my personal decisions. And that goes for every other human being on the planet. There is no point in hoping that they will do what you want them to do.
Go get a better job and/or buy less unnecessary things and buy a house.
@@nicolasgirard2808 Sorry but that's not true. Young people want starter castles because they watch HGTV and think they "deserve" what older generations worked for years to attain. There are plenty of affordable small houses out there. That's not what they want.
Baby boomers aren't really even that old yet. Not old enough to need a facility.
Yeah, that part I think is wrong.
But I do know my grandparents in their 50s and 60s , once their kids left, sold their large family home and moved into a smaller house…
Because their house is definitely worth more than it was when they bought it and they were able to buy a smaller home outright with no mortgage …
I don’t see that happening with the baby boomers … even in our neighborhood they want to just keep staying in their homes while they can’t maintain them and work themselves to death instead of downsizing and making their lives a little easier.
I definitely don’t want to just shove all the boomers and older generations and nursing home … we still need them in our neighborhoods…
But I cannot wait until our first two kids are old enough to be out of the house… I will be downsizing my house as soon as it happens…
I want somebody else to enjoy this family and I want a house I can take care of as I get older.
I think we lost the foresight of caring for the next generation sometime in the last couple generations here …
I’m afraid it might bite the boomers in the butt both of their own attitude and the attitude has been fostered in the younger generations .
As a boomer, I "got lucky" -- sure. The mortgage rate on the first home I ever purchased -- a townhouse in Irvine, Calif., which I now maintain as a rental -- was 14.5%. This spoiled, entitled man-child considers that getting "lucky."
I'll take a 14.5% rate over a 7% rate on a home ratioed 5x higher then the average salary of it's time.
@@LegDayLasHome prices are set by the second highest bidder, not the owner or seller.
@@foxtrotwolf6081 Correct, and irrelevant.
He missed the Carter Administration for sure.
@@foxtrotwolf6081 Thank you. It is nice to hear accurate comments occasionally. Many young people today seem so out of touch with reality.
Ok Zoomer! 😄
I wish Dave could have taken this call; this is 24 year old Dave on the phone right here 🤭
I would hate to be a boomer under his care.
Imagine being 20 and thinking you know everything about the markets 😂 and then thinks a HELOC is a great idea
My boomer dad came to my house and told me that he put me and my three siblings in his living trusts. I can tell he wanted to keep the house in the family, without telling me. He was worried the house would be sold and split the money among my siblings. I already owned 2 paid off houses and so I told him i would buyout my siblings and keep the house for his grandchildren. He already had investors calling him left and right wanting to buy his house and it’s annoying the hell out of him.
Excuse me....I worked my entire life to save for my home and spent the past 20 years working very hard to remodel, repair and maintain it. It took me two small starter homes to get here and I spent my hard earned money to refinance it twice to get a lower interest rate so I could make these payments into my 70's (I am age 73 and my husband is age 78 and we have no money to go into a nursing home because I put myself through college and then raised my two sons so a nursing home costs is not an option.) This property has taken me my entire life to EARN this home. I OWN this home and no one can tell me I must leave it until I am ready. Period.
THIS
Baby boomers value their house more than anything else. I get why you feel like that you put nothing else above it. Imagine being so attached to something you’ll leave behind. No care for legacy only some walls with a floor and a some roofing for you to be so cruel and cold. Seeing it as your property and whole livelihood and not wanting another family to begin. Selfish
If he knows what would happen to markets, why isn't he rich?
He is still waiting for the market to do what he thinks it will.
@@matthewmchenry9331 No sir. Remember he said “knows what it will do”. I got a good chuckle out of the response these guys gave him.
@middleagedcrazy5297 he never said when. That is the key to predicting the future
@@matthewmchenry9331 You made me laugh more than they did. Great response! I need to remember that one.
@@matthewmchenry9331 I predict the market will go down. This is not a valid predictions just because 50 years from now their is a recession and my timeless prediction eventually came true. A timeless prediction is effectively meaningless and says nothing about the given climate or how the market will actually act. Given enough time anything you can think of, will eventually happen.
9 to 12% interest on homes was not a good deal in the 80s.
WoW this call is scary…. « These people » are people who worked hard to buy their house and when they deserve to rest and enjoy retirement he wants to kick them out (or kill them off)😮
Entitlement much…. How did his parents and grandparents raise this person?
I am a boomer and no one will tell me to move out until i am good and ready.
Great another psychopath in eldercare
He's complaining about boomers and taking up home. Meanwhile he wants buy houses and turn them into rentals 😆🤦
This guy is something else. When he reads through these comments just remember bud you're going to get old one day.
Is there possibly a shortage of houses because the border is wide open and the population is increasing at a rate that our infrastructure can’t support?