Moneywise On Oneplace.com

Boomers Hanging On to Houses

Informações:

Sinopsis

BOOMER INFLUENCE ON HOUSING MARKET:The current landscape of the housing market is significantly influenced by baby boomers, particularly in terms of home ownership patterns and inventory distribution.A substantial portion of large homes, defined as those with three bedrooms or more, is owned by baby boomers, who are aged between 58 to 76 years old.In contrast, younger generations, including millennials (ages 26 to 41) and Gen Zers (ages 19 to 25), possess a smaller share of large homes, leading to a disparity in housing options.Boomers' ownership status, with many owning homes outright and having little financial incentive to sell, contributes to the limited availability of homes for sale, particularly larger ones suitable for growing families.The disparity in housing ownership between generations underscores the challenges faced by younger individuals and families in accessing affordable and adequately sized housing. FACTORS CONTRIBUTING TO HOUSING CHALLENGES:Various factors exacerbate the housing challenges