The millennial children of the 1% will inherit those houses and once the boomers are gone they will find another scapegoat to blame while they try to justify their parasitic streams of rental income.
Americans are weirdly susceptible to being divided along identity politics lines.
The whole "boomer vs. millenial" thing is just the 1% engaging in a game of scapegoat, divide and rule. By blaming your mom, you're helping them.
Many, many millennials don’t. Even for the small minority that inherits them, new housing is out of their reach. Studies show millennials, even ones’ whose parents own property, by and large don’t want to live in the same suburb/house they grew up in (though, with the current state of affairs, many still live with their parents).
In any event, even if all of that small minority wanted to stay in their exact house, the rest of the disenfranchised would be so numerous as to overwhelmingly outvote them.
Here’s a very enlightening article to the current plight of the millennial. I recommend setting aside some time to read it today.
https://highline.huffingtonpost.com/articles/en/poor-millenn...
i would caution anyone with the resources to purchase a home to be cautious right now. there are too many political unknowns that could easily make it a poor financial choice.
or you can go all-in knowing that if you become underwater, you can just walk away (CA is a non-recourse state) as long as you don't have a HELOC on the property.
The current, very real housing shortages and homeless epidemic is just the tip of the iceberg.
Regardless, after the declining baby boomer population finally loses their political influence, millennials will step in and fix the problem themselves —and they will, it’s not like any of us can afford those houses (even the ones who grew up in the city and aren’t in tech, which you seem to imply are more important or valid).
That’s just democracy, after all.
[this comment was originally made in response to one of nontechdude1’s now-deleted comments]