Homeownership has long been a cornerstone of the American dream. But first-time home buyers, especially millennials, are facing an uphill battle when it comes to house hunting. This is in part because of a growing trend in which baby boomers, the generation that owns the largest share of American homes, are planning to stay put rather than downsize or move into alternative living arrangements.
In fact, a 2024 survey conducted by Redfin found that 78% of Americans over the age of 60 want to remain in their current home. This decision, driven by factors such as comfort, community ties, and financial stability, is contributing to a significant decrease in housing inventory available for first-time buyers. As a result, younger generations face more limited options, higher home prices, and increased competition for the few homes that do hit the market.
First-time home buyers, especially millennials, are fighting an uphill battle in today’s real estate market—in part because of a growing trend in which baby boomers are planning to age in place. This report examines where baby boomers lead in homeownership—and where younger buyers may face l… Click for more.Baby Boomer-Dominant Housing Markets
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Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.