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Millennials struggling to buy a home want 'out of touch' Boomer parents to get …
Some advice for Millennials dealing with parents who won't listen.
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"I Can't Go Back In Time": Millennial Highlights Generational Divide in Housing Market Expectations
Generational Divide Widens Over Housing Market Realities New York, NY – A recent viral video by Jenni Fink, a Senior Editor at Newsweek and host of the "I'll Tell You Why" podcast, has resonated with millions, shedding light on the growing generational chasm in understanding the current housing market. Fink, a millennial, candidly shared her frustrations regarding conversations with her baby boomer parents about purchasing a home. In the video, Fink describes showing her parents potential listings, only for them to express disbelief at prices and question the size or location of properties. "They're flabbergasted by the price," Fink stated, recounting her parents' insistence on larger homes with more bathrooms, despite the prohibitive costs in today's market. She also noted their dismissal of commute distances, a common trade-off for millennials seeking affordability outside urban centers. The irony, Fink points out, is that her father was a real estate developer. Yet, her mother's comment, "If only 10 years ago you thought about doing this, you could have bought a nice plot of land and your father could have built you a really nice house for way less," highlights a fundamental disconnect. Fink's exasperated response, "What do you want me to do with that information, Mom? I can't go back in time," encapsulates the sentiment of many younger generations facing unprecedented housing challenges. Experts suggest that the current market, characterized by high interest rates and soaring property values, is vastly different from the economic landscape baby boomers navigated. This leads to differing expectations and a lack of understanding from older generations who benefited from more accessible homeownership. The video serves as a poignant, yet humorous, illustration of a widespread societal issue affecting millennials and Gen Z across the nation.
