Hi, Marjorie, I really hope Hi, I hope I'm not going to insult you by placing a blanket statement on your entire generation. No, that's okay. As you I do think one of the problems is that the boomer generation is holding on to their homes, past generations, you know, they would buy a home, and then they would retire, and they would downsize. And I don't think that's happening as much. And so the there's less in the market, but also, they're pricing apartments, or they're pricing their homes to rent out at unreasonably high prices, which I don't think is necessary, because if you've paid off your home, then you don't need to be charging $3,000 a month, you can do $2,200 a month. And I think that part of the reason people can't afford to stay in Boston is because the people who are renting out their homes or pricing them too high.
So are you saying that baby boomers are moving out but holding on to the house to rent it?
I think some of them are moving out. I think some of them are are staying and so there's not as much availability. But yeah, I think that the people who do their homes and are renting them out or just pricing them too high, or they're I mean, I don't think they're the only problem. I think they're contributing to the problem by pricing too high.
Okay. I think that there's definitely truth to that. And I do wonder, though, whether or not, you know, part of the, the idea of making it an income property for baby boomers is to the extent that people lost a ton of money during the Great Recession, lost the value of their IRAs either took money out did what didn't have a chance to sort of make it back. Do you think that that's part of the reason why people may be using their properties as income producing properties? Or do you just think it's, it's naked greed by the baby boomers?
I think that for people who are the renters, there is a huge difference between a property that is listed for $2,500 a month as opposed to $2,700 a month. And I don't think that that is as much of a difference to the people who have paid off their homes right
now. That's a good point. I'm not insulted at all, Kate, I'm nakedly greedy, so I just admitted right here.