James Rodriguez

And home prices haven't really stopped climbing, especially in areas where there's still not a lot of homes on the market. There's uncertainty around just the future of the economy. Interest rates are up. So all of that together really makes it hard to see a future in which people who are already stretched thin renting, how do you save up money for a down payment?

How do you justify these higher mortgage rates? And how do you bring it all together to become a homeowner? It's a real challenge right now.

How do you justify these higher mortgage rates? And how do you bring it all together to become a homeowner? It's a real challenge right now.

How do you justify these higher mortgage rates? And how do you bring it all together to become a homeowner? It's a real challenge right now.

It is easy to blame baby boomers, especially when they've been so fortunate in the housing market at large. But I think one of the things you have to think about, too, is the demographic side of things. And we had this huge wave of millennials, currently the largest living generation in the U.S.

It is easy to blame baby boomers, especially when they've been so fortunate in the housing market at large. But I think one of the things you have to think about, too, is the demographic side of things. And we had this huge wave of millennials, currently the largest living generation in the U.S.

It is easy to blame baby boomers, especially when they've been so fortunate in the housing market at large. But I think one of the things you have to think about, too, is the demographic side of things. And we had this huge wave of millennials, currently the largest living generation in the U.S.

We knew that they were going to be hitting their prime home buying years around the turn of the decade, 2010s going into 2020. And there was just not enough building happening after the Great Recession to keep up with all of that demand that was on the horizon. So you had people who were also starting to work remotely, and so they wanted more space.

We knew that they were going to be hitting their prime home buying years around the turn of the decade, 2010s going into 2020. And there was just not enough building happening after the Great Recession to keep up with all of that demand that was on the horizon. So you had people who were also starting to work remotely, and so they wanted more space.

We knew that they were going to be hitting their prime home buying years around the turn of the decade, 2010s going into 2020. And there was just not enough building happening after the Great Recession to keep up with all of that demand that was on the horizon. So you had people who were also starting to work remotely, and so they wanted more space.

And it can be tough to have an optimistic outlook for home buying chances when all of these forces seem to be conspiring against younger generations in ways that older generations can't. just didn't have to deal with. I think we're still feeling the effects of the Great Recession in that respect.

And it can be tough to have an optimistic outlook for home buying chances when all of these forces seem to be conspiring against younger generations in ways that older generations can't. just didn't have to deal with. I think we're still feeling the effects of the Great Recession in that respect.

And it can be tough to have an optimistic outlook for home buying chances when all of these forces seem to be conspiring against younger generations in ways that older generations can't. just didn't have to deal with. I think we're still feeling the effects of the Great Recession in that respect.

Another reason why you saw home prices rise so dramatically is not only were millennials competing against their generation, but they were also competing against baby boomers in the market who had cash, who had substantial savings, and were able to, in a lot of cases, bid up home prices. And we're seeing, as you mentioned, baby boomers staying in their homes longer than ever. But eventually...

Another reason why you saw home prices rise so dramatically is not only were millennials competing against their generation, but they were also competing against baby boomers in the market who had cash, who had substantial savings, and were able to, in a lot of cases, bid up home prices. And we're seeing, as you mentioned, baby boomers staying in their homes longer than ever. But eventually...

Another reason why you saw home prices rise so dramatically is not only were millennials competing against their generation, but they were also competing against baby boomers in the market who had cash, who had substantial savings, and were able to, in a lot of cases, bid up home prices. And we're seeing, as you mentioned, baby boomers staying in their homes longer than ever. But eventually...

They will be aging out of the market, which is kind of a euphemistic way of saying dying. And when you look ahead to that and substantially less people competing for homes in the U.S., you see household growth slowing down as well. More deaths from boomers combined with lower birth rates over the next couple of decades. And all that equates to weaker demand for homes going from 2030 through 2040.

They will be aging out of the market, which is kind of a euphemistic way of saying dying. And when you look ahead to that and substantially less people competing for homes in the U.S., you see household growth slowing down as well. More deaths from boomers combined with lower birth rates over the next couple of decades. And all that equates to weaker demand for homes going from 2030 through 2040.

They will be aging out of the market, which is kind of a euphemistic way of saying dying. And when you look ahead to that and substantially less people competing for homes in the U.S., you see household growth slowing down as well. More deaths from boomers combined with lower birth rates over the next couple of decades. And all that equates to weaker demand for homes going from 2030 through 2040.

Yeah.