>>512447602
>why does your generation complain about interest rates? We had double digits when I bought my first house!


1977 (oldest boomer is 31 years old)
>Median Salary (Single): $13,570/yr (10% fed tax bracket)
>Median Home Price: $54,350
>Mortgage Rate: 11.2%
>Downpayment: $10,870 (80% of yearly income pre-tax)
>Monthly Payment: $421/mo (37% of income)
>Interest Payed (30 yrs): $107,956


2024 (youngest millenial is 28 years old)
>Median Salary (Single): $62,088/yr (22% fed tax bracket)
>Median Home Price: $428,200
>Mortgage Rate: 6.1%
>Downpayment: $85,640 (138% of yearly income pre-tax)
>Monthly Payment: $2,076 (40% of income)
>Interest Payed (30 yrs): $404,762

This does not account for property taxes or insurance rates, which have also quadrupled (or more depending on zip code).

Also, the 28/36 debt to income ratio rule by lenders wasn't widely enforced until 1980. Guess you better rent at a higher monthly rate forever, you can't afford a lower monthly rate for this home.

To make things an even playing field, wages would have to increase by 58% ($107k/yr) or home prices would have to fall by 58% (Median Home Price of $248,350).

>>511001755
I support it for those in retirement homes especially. Social security covers such a small percentage of the amount needed to keep someone in humane conditions for end of life care. You should be able to choose whether or not you want to live in the hell of your own making. It's always a good idea to stop burdening the tax payer. But I know that boomers in their infinite solipsism intend to live out of spite while taking as much as possible because they worked so hard for it.

Social security is by all intents and purposes a new invention by humans, and it doesn't even make sense financially. You are telling me that grandad made $10/hour as a liveable wage in the 1960's, but now gets $2000/month for the rest of his life?

I would offer a short term stay in a retirement home with white orderlies (2 years max) with the intent to have them go through with suicide, and the alternative is that they will get beaten by brown orderlies for the rest of their life. Put the cap at 80 or something. Don't like it? Encourage your kids not to hate your fucking guts and have them take care of you for end of life care like the other thousands of years of human history.