Why Aren't Baby Boomers Downsizing?
Baby Boomers are not ready to let go. The approximately 70 million Americans between 54 and 73 years old are not downsizing into smaller homes—even though Boomers living in empty nests have an average of two extra bedrooms. In 2005, more senior households were moving into multifamily than single-family housing by age 75. In 2016, this inflection point didn’t happen until age 80. In a nation with a very tight housing inventory, that might cause more than a few Millennials and Gen Xers to start asking their parents, “Whyyyyyyy?”. Read more.
*Source: Tulia's Blog