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cookingrobot·

Most Americans (67% of adults) are already homeowners.

https://policyadvice.net/insurance/insights/home-ownership-s...

The title would be more accurate as “For most Americans who don’t yet own, owning a home is a distant dream”.

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in other words, the next generation is totally screwed.

American are aging. When the boomers start dying, many of the younger generations will start inheriting houses

While true, there are far more young people than old people dying at least in the US: https://www.census.gov/newsroom/blogs/random-samplings/2016/...), and in general there have never before been as many humans on earth.

Not with reverse mortgages. Many of the baby boomers I know are looking to spend as much money as they can while they’re alive.

Reverse mortgages don't prevent death. In my market, we have a lot of people of advanced age, and when they are gone entire neighborhoods will suddenly be available. From what I can tell, this is true in a surprising number of areas around the country.

They don't prevent death, they sell your house bit by bit back to the bank, until there is nothing left to inherit. And the trend these days is for financial institutions to hold housing stock as rental properties, not to put it on the market.

A reverse or lifetime mortgage means there's a reduced inheritance for the next generation. It's also a steady process meaning there's no sudden surge in supply.

> Reverse mortgages don't prevent death

Except in this case: https://www.chicagotribune.com/news/ct-xpm-1995-12-27-951228...

"Equity release" here in the UK is how many people in my parents generation are funding their retirements.

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