But now, say some economists, baby boomers aren’t selling their houses as earlier generations did. They’re not downsizing fast enough as they approach and pass traditional retirement ages, and that’s contributing to inventory shortages of homes for sale as well as rising prices.
Developers aim to cut the average baby boomer home size in half. Ever since builder Del Webb opened Sun City Arizona’s first five model homes in 1960, retirement has been a big business for real estate developers. For decades, the number of retirees living in multi-unit housing has been shrinking, according to Trulia.
"The Boomers in the exurbs are going to be in a real pickle," says Nelson. "Even in a dynamic market like Washington, D.C. or other booming cities, the market for those homes is going to be.
Home Capital Group Inc. and Lendified Holdings Inc. Announce Strategic Investment The Rubicon Project Inc. (RUBI) had a rough trading day for Wednesday October 04 as shares tumbled 5.19%, or a loss of $-0.2 per share, to close at $3.65. After opening the day at $3.81, shares of
Housing inventory shortages continue to plague the real estate market, and the generation that’s most to blame is Baby Boomers. In fact, the new Housing Shortage Study from realtor.com shows there are two major reasons for the housing shortage: Boomers’ reluctance to sell and the fact that homes already fit current family needs.
Of course, boomers’ behavior has had outsized effects on the national economy for decades. In real estate, their footprint is enormous.
‘Baby boomers’ staying put as housing shortage looms 6:41 AM ET Mon, 21 Aug 2017 CNBC’s Diana Olick, reports baby boomers are staying in their homes longer than previous generations and that is.
"The aging of baby boomers means that within just a couple decades, older people are projected to outnumber children for the first time in U.S. history.By 2035, there will be 78.0 million people 65 years and older compared to 76.7 million under the age of 18.
Are senior households really causing housing shortage?. with the War Babies keeping another 300,000 from hitting listings. baby boomers account for another 250,000, with that number likely to rise as more reach retirement.. real estate listings held by brokerage firms other than are marked.
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Breaking down those not planning to sell by age points toward one significant contributor to the housing shortage – 85 percent of baby boomers surveyed indicated they are not planning to sell.
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