Younger people are being forced to compete with baby boomers for the limited inventory of available homes, and they’re losing out and therefore make up a smaller share of home buyers today than in previous years. That’s according to a report from Zillow that looked at the age, sex, race and income of home buyers
Millennials are driving the housing market rebound
September 1, 2020 by
Younger home buyers aged in their 20s and 30s, who were once seen as being reluctant to enter the housing market, are now driving its recovery during the COVID-19 pandemic, according to the Wall Street Journal. Even before the pandemic began, so-called millennials were starting to increase their home buying activity, accounting for more than
Baby Boomers – Downsizing Homes but Upscaling Experiences
August 17, 2020 by
By continuing to spend $Trillions each year as consumers, the baby boomers haven’t finished shaping U.S. households and spending patterns. With 10,000 baby boomers turning 65 and migrating into retirement every day through 2030, their lifestyle choices strongly remain the second most powerful consumer economic force. There are clear indications that millennials will never achieve
Millennials way behind baby boomers when it comes to homeownership
February 6, 2020 by
Millennials own far less real estate than their predecessors, and it means an entire generation could have lower lifetime wealth, experts say. Data from the Federal Reserve shows that when baby boomers reached their median buying age of 35 in 1990, they owned around one third of all U.S. homes, in terms of overall value.
Downsizing Tips for Baby Boomers
February 4, 2020 by
Baby boomers may no longer be the largest demographic group but with 73 million of them, they are the second-largest group of consumers. A big reason why the real estate industry should still be taking heed of baby boomers is that their needs are changing as they transition into retirement. A Time for Downsizing Finding
Universities adding more senior housing as they target baby boomers
December 26, 2019 by
What with traditional students being saddled with ever-growing debts, some universities are looking to seniors as a new source of income, and they believe those people may also be interested in buying homes near their campuses too. Universities are increasingly looking at retired baby boomers as a promising source of income, The Wall Street Journal
Zillow says a ‘Silver Tsunami’ will flood the housing market in 20 years
November 27, 2019 by
Zillow is forecasting an end to housing inventory problems, but we may have to wait a while for it to happen. The company says it expects to see “flood of homes” coming onto the market over the next twenty years. Those homes will primarily be existing homes currently occupied by baby boomers, which will be
More baby boomers opt to “smart size” rather than downsize
September 27, 2019 by
A growing number of baby boomers are finding that it simply won’t do to downsize once their children flee the nest, and are instead choosing to “smart size” according to their needs, The Washington Post reported this week. “Older home buyers today are ‘smart-sizing’ rather than just downsizing,” Mollie Carmichael, a principal with the housing
Millennials make life most difficult for agents, survey finds
July 29, 2019 by
Younger adults are some of the most difficult customers for real estate agents, according to a new survey of 500 industry professionals from the online real estate brokerage Redfin. But that’s not to say older generations make life any easier, for baby boomers who’re aged 55 and up, are not far behind when it comes
Baby boomers are refusing to budge
May 24, 2019 by
Baby boomers are increasingly choosing not to downsize their homes in retirement, according to a report by USA Today. Instead, many have decided to stay put in their existing homes, where they raised their families. But economists say their decisions are contributing to the problem of low inventory across much of the nation. Barbara Risman,
