Mark Your Calendars for the Next Housing Crash
We’ve got seven years until all the boomers try to sell their single-family, large-lot, suburban houses and there is no one willing or able to buy them!
“By 2020, there were will be around 35 million over-65 households in the U.S. That year, [University of Utah researcher Arthur C. Nelson] calculates, seniors who would like to become renters will be trying to sell about 200,000 more owner-occupied homes than there will be new households entering the market to buy them. By 2030, that figure could rise to half a million housing units a year … Between changing preferences and declining median household income because of poor education … that means we can predict the next housing crash, and that’ll be in about 2020.”
So you know, maybe you WILL be able to live in that fancy house at the end of the block with the wraparound porch and the old oak trees that you always thought you’d grow up to buy, back before you realized that you will not be buying that or any other house. I mean, you still won’t be able to buy it (or maybe you will!), but what I’m saying is, squatting may be an option.