The Impact of Rising Interest Rates on Millennials and Boomers

For this week’s episode of The Real Word, Byron is recording from the BAM booth at the Turn On Event in Portland, Oregon. He and Nicole start off the conversation with a warning from Million Dollar Listing star Josh Altman about the California mansion tax. 

Byron and Nicole discuss the mansion tax before tackling the bigger picture of rising property taxes and their impact on housing inventory. 

Next up is an Inman article on the “tug of war between millennials and boomers” that could heat up this spring, which raises the question of what these two generations typically want, which subsets of each are more likely to be in competition with each other, and why new construction won’t save home buyers. 

Finally, they break down another Inman piece on Zillow CEO Rich Barton and his take on what’s coming for the U.S. housing market, which led to a discussion on what “back to the basics” really means. And it might not be what you think. 

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Click on any of the timestamps below to watch: 

00:00–02:55 Intro

02:55 Topic #1: California mansion tax 

08:17 Thoughts on the mansion tax

11:27 Thoughts on property taxes and how they’ll impact inventory

16:22 Topic #2: The tug-of-war between millennials and boomers 

23:00 Why the new market won’t save homebuyers

25:26 Topic #3: Zillow CEO Rich Barton says “The real pain is probably coming”

29:14 What “back to the basics” really means

Click here to watch the full episode.