It is expected that Baby Boomer downsizing will begin to spike in 2025 and 30 million homes might go on the market. This report indicated that it would be highly likely that Baby-Boomers would have advantages to outmaneuver Millenials and Gen X’ers because of either equity or having no mortgage.
This might take a decade to play out. Pretty much don’t expect prices to drop much, a housing shortage will persist.
”Maggie” and I downsized already 13-14 years ago, when we decided to get rid of about two thirds of our belongings, buy all new furniture, and move into a 650 square foot luxury apartment in Madhattan. I discovered and realized that I was a hoarder, and this kinda came as a surprise. It was a mark of poverty, so I kept all this unneeded stuff.
A good example was old clothes that I saved to perhaps do an oil change on a car. Car parts is another. Pretty much I had to sort through the many decades of my life and make important decisions about avoiding remorse. I also had to consider the future I wanted to create and my future lifestyle. Overall I was very thoughtful and pretty much still kept a lot of stuff.
We also realized how privilaged and entitled we were. We ended up giving and donating our old belongings to those less fortunate, including a homeless girl I met at Public Storage (Anna took a lot of our furniture), the Salvation Army, Good Will, and the rest of our stuff would be put out in our front yard of our historic row house with a “Free” sign, and by the end of the day everything would be vacuumed up and recycled.
Long Island City back then was rather a poor community.
So now we own a 1400-1500 square foot house on an 40x200 corner lot on the outskirts of a city of 25K. My taxes are low, and especially low for Westchester County. We have sewers and Natural Gas. The medical facilities are first rate and there is no need to venture into Madhattan.
If we need to head into the city it is not far away, and there is also Metro North which is an hour train ride to Grand Central. Two blocks away is Blue Mountain Preserve (1500 acres); and just across the Bear Mountain Bridge is a huge wilderness.
Anyways Maggie and I did well with our planning and pretty much don’t have to downsize further. Meanwhile we are building out a “bunker” of sorts. I anticipate getting an 18-20 KW natural gas generator that can basically be for “life-support” for us.
Our mini-splits are basically a backup heating system and an efficient HVAC. This will get expanded to our upstairs for comfort and insurance.
Today I turned on the mini-splits. Our oil furnace also provides tankless hot water, so not a maintenance problem if the furnace does not get fired up as much for heating. The mini-splits definitely cycle less and stabilize temperature swings. The new Dyson so far is moderating the dryness and maintaining a 50% humidity.
This morning the oil furnace lagged and fell behind the thermostat setting, so it was a good time to keep that setting as a control for my experimenting. I had to lower the mini-splits (two zone: one in the dining room; the second ion the kitchen; large doorways don’t restrict heat and cooling to the living room and hallway.) to keep the temperature down to just over the oil furnace thermostat.
Humidity even after the hour 15 minute spike remains at 49% humidity. So far it looks like everything is working as I planned. I expect with even colder weather that at some point the Dyson will hit a tipping point and will hit its limit on maintaining 50%, but untill then I figure I’m saving energy and money; and most of all am enjoying purified air and less temperature fluctuations.
I do consider global warming a serious threat. Maggie has Northern European blood and the heat an humidity kinda kill her. She is prone to heat stroke. Meanwhile I have the body type built for the tropics where I am tall, thin, and don’t have a lot of body mass.
Wish me luck with the zoom call. Pretty much the focus has to be emphasizing us as a couple rather than two individuals.
Cal