The article discusses the financial advantages experienced by baby boomers, particularly in home affordability, which starkly contrasts the current challenges faced by younger generations like Gen X and Gen Z. In the past, median home prices were manageable, typically two to four times the median income, in comparison to today's situation where they can be six to eight times income. Additionally, lower interest rates and lenient lending practices of the past enabled baby boomers to build wealth through home equity, a reality that feels unattainable for newer generations.
Today's generations will likely never be able to afford a home like baby boomers could in their 20s.
During the 1970s and 1980s, the median home price was two to four times the median household income.
Affordable Housing Market has severely shifted; what was available to baby boomers is out of reach for Gen X and Gen Z.
Lending standards were less strict back then, allowing baby boomers to enter the housing market sooner.
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