Business Insider (and other capitalist trash media) are making specious arguments about the housing market as baby boomers finally start to die. They’re trying to justify keeping the inflated housing market inflated and ownership in the hands of the wealthy rather than deal with reality and solve problems.
First lie: “younger people won’t want these homes”. Seriously? The Tiny House movement is primarily driven by capitalist greed pushing wages down and making home ownership impossible, not because younger people are obsessed with tiny things. Young people are environmentally aware, unlike boomers, and know that the most environmentally friendly house is one that’s already built.
Second, so what if these homes are in retirement communities? They are not isolated and in the middle of nowhere, they are suburbs. Create affordable public transit to cities, and people can travel to work and shop. Plus, you can always build businesses where people live.
Third, what is this “debt” they speak of? Baby boomers OWE women, Black people, People of Colour and all post-boomer generations who have been ripped off and cheated for decades. Boomers owe society for their decades of racism, redlining, unfair and underpaid wages.
When it comes to dying baby boomers and the hundreds of thousands of unoccupied homes and apartments, the best solution is redistribution. Confiscate all those empty houses and apartments and give them away. Allow people apply to win debt-free homes and give them away by random draws.
Giving millions of “boomer” houses to Black people, mortgage free will help (though not fully) pay reparations for 70 / 400 years of racism, gentrification, redlining and unfair business practices. Give the millions of empty apartments to Millennials, GenYs and GenXers who want a small place to live.
The boomers can’t take their wealth with them when they die. Give it to people who need it and can make better use of it.