Agree with most of what you are saying, the bit about our children paying for our greed, is a bit off!!!!
I know a lot of people in their late 50's, most are tradesmen, that haven't a lot of money.
You have to remember that most of these guys have less than $100k in super and don't own their house.
Just because house prices where pumped up by the real estate agents, doesn't mean all the baby boomers jumped into debt to buy houses and made a killing.
Most grew up in hard times and were risk averse and didn't capitalise on the opportunities that were available. Some did but would have been burnt in the G.F.C.
I guess what I am getting at is there is not a lot of "normal baby boomers " out there,that I know,that don't have a lot of money.
The baby boomers are constantly demonised for the rise in house prices, but I feel the problem was caused by the real estate agents cranking prices, to increase commissions.
Most sellers look to the agents to give them an indicative price, the agents worked out just slowly ratchet the prices and you get a ponzi scheme happening.
Well now the elastic band is streched as far as it can go, everyone wants to blame somebody for the problem.
Greed was the problem but it was the real estate agents that caused the problem.
Most of the baby boomers who made a "killing" on their house, borowed money to buy another house.
I guess what I am getting at is, the greed wasn't as wide spread as some would have us believe.
What a load of codswallop. Real Estate agents don't create the market, buyers and sellers do and market forces, primarily supply and demand will dictate price. Now as much as I would agree with you that real estate agents are pretty low down the food chain you can't blame them for the boom periods experienced in the housing sector.
The incidence of property investors whether they were baby boomers or not certainly influenced the upward trend in property prices as they soaked up supply.