White Millennials are about to start inheriting a lot of money…

[CrimsonTider]

It comes in the form of property.

If you want your kids to win, instead of cashing out, pass down land and buildings to them.

Win what?

 

[BaggerofTea]

Win what?

Not be buried in the upcoming hell

 

[the elastic]

Don't fret, capitalism will find a way to take allllll that shyt back

You really think cac millennials will magically acquire money management skills?

 

[ShadowBroker]

All those yt kids screaming, “ Eat the rich!! “

Bout to be real quiet.

“I didn’t really mean it…”

 

[beenz]

my ex wife doesn't own her own crib so I dunno what she's gonna pass down to our kids.

I will have a paid off house by that time, plus my 401K, and my personal investments. at least I did my part I guess

 

[lib123]

Inheriting homes already paid for is different. Keep it up, pay the taxes, rent/lease if you don't live there and eat

Yes owning a paid for house is different, but downward pressure on home prices combined with inflation and rising interest rates still puts anyone at risk.

 

[Rekkapryde]

my ex wife doesn't own her own crib so I dunno what she's gonna pass down to our kids.

I will have a paid off house by that time, plus my 401K, and my personal investments. at least I did my part I guess

Guess it's on you brotha

They can still get her saving and 401k/pension bread right?

 

[Rekkapryde]

Yes owning a paid for house is different, but downward pressure on home prices combined with inflation and rising interest rates still puts anyone at risk.

Yeah, all of the properties I listed will be paid for.

Buying a home now though with these rates, I'd wait for the rates to drop. But if you can afford it right now, you can always refinance too.

 

[RedCloakBlackWraithe]

I got 4 properties incoming... one in NY, one in Sarasota, a vacation home in the DR & a mansion in Haiti.

I cant imagine my parents being dead though.

I'm gonna be crying while counting up the check.

corporate fibber

 

[lib123]

Yeah, all of the properties I listed will be paid for.

Buying a home now though with these rates, I'd wait for the rates to drop. But if you can afford it right now, you can always refinance too.

That's dope but my point is in the future it's not guaranteed that real estate will be the pathway to generational wealth. Like the highlighted in the article, people were set to get nice inheritances but their parents are living longer and getting crushed by healthcare costs inflation. Also, the future is filled with uncertainties like automation (which could mass eliminate well paying jobs, reducing pool of home buyers and renters) and the massive US public and private debt (could make high inflation more recurring and structural, leading to higher interest rates and more economic volatility).

 

[Rekkapryde]

That's dope but my point is in the future it's not guaranteed that real estate will be the pathway to generational wealth. Like the highlighted in the article, people were set to get nice inheritances but their parents are living longer and getting crushed by healthcare costs inflation. Also, the future is filled with uncertainties like automation (which could mass eliminate well paying jobs, reducing pool of home buyers and renters) and the massive US public and private debt (could make high inflation more recurring and structural, leading to higher interest rates and more economic volatility).

Ehh, i don't agree with that.

the only way you lose is if you sell for less than you buy. Even with everything you said, I can sell the place for 50k and make a profit. So with inheritance and not paying for the cost of the home, any sale of the property is gonna be profit. As long as the places are in highly desired areas, you'll always win.

 

[Conan]

I really hope nikkas stop overvaluing their primary residential real estate at the expense of other assets

Your children won't give a fukk about a old dingy house.

They will give a fukk about trust funds, 401ks, intellectual property, businesses (including but not limited to real estate business)...

And that is where white people are ahead of black people. Not owning a house. All the other shyt.

 

[RickyDiBiase]

Lol there are millions of broke white people. But yeah, there are also many who are set to inherit assets. But as the recent NYT article points out, many will see their inheritances eroded by inflation, rising healthcare costs, taking care of aging parents, etc.

Pretty much

 

[Amestafuu (Emeritus)]

You are blessed my brother. Seriously love on your parents. Passing real estate to your kids is a cheat code/lifeline that even the poorest of whites benefit from.

My boy had a condo and upgraded to his first house. Bought it off some boomer whites who made non productive babies who never moved out. Parents had to sell the home to afford retirement. Kids were assed out. Their kids were grown and middle aged. My friend sold that home for a profit and upgraded to a building in 2 years.

I can imagine those kids seeing that home price for up 6 figures in a year and some months being bent. I can imagine them paying market rent now

 

[lib123]

Ehh, i don't agree with that.

the only way you lose is if you sell for less than you buy. Even with everything you said, I can sell the place for 50k and make a profit. So with inheritance and not paying for the cost of the home, any sale of the property is gonna be profit. As long as the places are in highly desired areas, you'll always win.

That's not true. If you bought a house in 2006 for $130K but can sell it now for $150K, you lost in inflation-adjusted terms. And unless you're inheriting hundreds of millions and no one in your lineage has to work another day in your life, you're still vulnerable to the underlying economic vulnerabilities.