Boomers assume everything they buy is an appreciable asset.
I wonder if that mentality has to do with the homes many of them were essentially given for free and are now worth millions?
A little back story on how my boomer dad came to end up living with me part time. He had a house, basically given to him by his mom when he knocked my mom up pretty much exactly 50 years ago to the day. I suspect I was conceived during the 200th US Independence Day celebrations. If there's one thing we know about boomers is they love a good booze filled party. Anyway, this house was purchased by his mother for just under $40k. She signed it over to him after making several years of the payments and he took over the remainder. I don't know how much was still owed on the mortgage but it wasn't a lot.
Towards the end of 2024 he was here visiting us and a water pipe froze in his house causing catastrophic damage. The house had already fallen into major disrepair with failing plumbing, electrical, and it was filled to the brim with various collections of crap. I think he had about 7 TVs, 3 washing machines, and a ton of car parts, and he never threw out a piece of mail. EVER. I drove him home to assess the damage. It was determined to be unfixable so the house was sold to an investor for $265k. Basically a free house for him and he made that much money on it. Yeah, he thinks he's pretty dang smart. If he had maintained the house it would've been worth over $500k.
Fast forward to present day. We are struggling to make our own mortgage payment, put food on the table for our kids, and we just had to fix a leaking roof which was very expensive. He's been here for a month. Hasn't paid us a dime. He told me he didn't think the roof leak was that serious of a problem and was shocked when he asked and I told him how much it cost to fix.
No parents of mine helped me acquire a house. It took until I was 44 years old to be able to afford it. We already struggle each month and he has no problem being a freeloader also while judging us for fixing or maintaining our house so it doesn't end up in the unlivable state his house was in.
Their mentality is absolutely screwed up. I have been considering the theory that their generation is majorly brain damaged by lead poisoning. Because nothing about their mentality or priorities makes any sense.
DOTP can't come soon enough!