Connect with us

Hi, what are you looking for?

The American Genius Real EstateThe American Genius Real Estate

Real Estate Marketing

Generations aren’t as divided in homebuying as we think

With some positing that an age gap in generations is the problem in homebuying, it’s important to remember the real ‘competition.’

An older man and woman sit on a couch looking at a tablet together while smiling.

I hate generational wars. 

Some of that is because I’m older now, and I could have made some spare cash babysitting all the celebrities today after school. But more of it is because they just don’t make any sense. 

Every generation going back to Plato grousing about students writing stories down instead of memorizing them, and past that still has moaned about the next few after. And every ‘after’ generation gripes about the one before. But as I’m looking at it it’s been very… mean. 

Millennials were out here killing this and that industry, and foisting their participation trophy lust on all and sundry, Boomers were out here ironing their Klan hoods and powerwashing their electronics—it was all just a big mess. 

Now as all of us scrap against all the rest of us to squeak into a house against all odds, NPR of all places is soliciting input from people who believe age and age alone makes someone their enemy. 

Advertisement. Scroll to continue reading.

The questions on the entrance form vary, but honestly, only one portion strikes me as relevant. 

“Are you looking to buy a second home or rental property?”

That’s the competition. Not 67 year old Gladys who can’t deal with keeping up a 3 bedroom after the kids left and hubby slowed down a bit more and wants to downsize. Not 32 year old Susmita and Karl, looking to get their little one established in a walkable school district while she’s still stroller-sized. 

If I were able to mortgage a house, as much as I might want it, those people are not my competition in any meaningful way. Just the same when I apply for a job. I need it. I want it. But someone else getting it still represents an overall good thing.

The only divide we need to discuss is between people buying homes as assets and people buying homes as homes, not their generations. My competition is 27 year olds and 77 year olds snarfing up houses they aren’t going to live in, or maintain without whining, whether they’re buying with a wealth-kickstart gift from their parents or their own accumulated cash. 

This problem, like every other problem constructed between non-monolith generations is about purchasing power and property purpose. 

Advertisement. Scroll to continue reading.

Age ain’t nothin but a number. 

You can't spell "Together" without TGOT: That Goth Over There. Staff Writer, April Bingham, is that goth; and she's all about building bridges— both metaphorically between artistry and entrepreneurship, and literally with tools she probably shouldn't be allowed to learn how to use.

Advertisement

The Daily Intel
in your inbox

Subscribe and get news and EXCLUSIVE content to your email inbox.

Advertisement

KEEP READING!

Real Estate Brokerage

While houses are selling quickly right now, there are some things that will almost definitely turn a home buyer off.

Homeownership

With interest rates skyrocketing, the housing market is cooling, but still some are moving to specific areas due to affordability, but where?

Homeownership

The million dollar, golden ticket questions all home buyers are wanting to know: Will home prices go up, stay the same, or decline next...

Real Estate Big Data

[REAL ESTATE BIG DATA] Positive NAR reports encourage strong homebuyer return into the housing market following pent-up demand.

The American Genius' real estate section is honest, up to the minute real estate industry news crafted for industry practitioners - we cut through the pay-to-play news fluff to bring you what's happening behind closed doors, what's meaningful to your practice, and what to expect in the future. We're your competitive advantage. The American Genius, LLC Copyright © 2005-2022