The Current Housing Market

1210 Words Sep 12th, 2016 5 Pages
The current housing market is experiencing another large, daunting bubble that I fear is leading to another burst and market crash. The “Baby Boomer” Generation and the “Millennial” Generation are currently experiencing a great disparity gap between the two of them, both in pay and in purchasing power which directly affects the housing market. As the Baby Boomer Generation begins to retire and move on from where they currently live, the housing market will suddenly experience a boom in available housing. The issue then becomes that the Millennial Generation does not currently have the economic buying power to purchase these houses. This issue is currently visible in the Bay Area where housing is at an all time high. Houses are currently being listed as Baby Boomers want to move out of the higher cost of living areas into lower cost of living areas when they retire, but their current listing prices are prohibitively expensive at the current wages the new buying generation makes. These houses are being listed for longer periods of time, many homes listed over a year, with no successful bids.

To secure my vote as an “Inbetweener” Generation voter, I would like to see a current candidate outline a plan to curb the sudden spike in housing prices, provide ceiling limits on housing cost in major cities where these costs are spiraling out of control. I would love to see a candidate that outlines a new tax break program for corporations that relies on CEO salary versus employee…
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