Baby Boomers Are Controlling The Housing Market, Leaving Younger Generations Left Out

[1srelluc]

MSN

www.msn.com

The period in question runs from 1946-1964, an era of rampant economic growth and increasing social mobility. America was prosperous from its role as the world’s prime industrial powerhouse after rehauling its productivity for the war effort.

Consequently, this generation had more children than ever in U.S. history, bringing an average of 4.24 million newborn citizens yearly. According to Statista.com, the boomer generation made up 40% of the population at its peak, though this has now halved. Nevertheless, baby boomers retain a powerful influence over commercial marketing due to their more liquid fiscal status.

However, according to the National Association of Realtors (NAR), their influence in the housing market is even more significant. The younger generations are fighting a losing battle with their grandparents and parents for real estate. In short, home buyers are, unsurprisingly, getting older.

Baby boomers now sit on more substantial assets than ever after volatile fluctuations over the past year. Subsequently, “boomers” had the highest market share for home sellers (53%) and buyers (39%) between 2021 and 2022. Older adults have been able to take advantage of the market rates to sell their properties at a premium, which means emergent Generation Z home buyers will have to wait longer — if they are lucky enough.


LOL.....The “everyone gets a trophy generation” is learning the hard way that not everyone gets a trophy. You have to be smart, plan, and work hard to get a trophy.

Blah.....Another example of Democrat hate.

Democrats love to divide people into groups and then convince one group that the other group is oppressing them for some reason. And, you should hate people who oppress you, and vote for Democrats because those Democrats will protect you from your evil oppressor.

 

[rightwinger]

Like it or not, the market for those homes will eventually pass to the post Boomer generations.

When the Boomers were young and looking for new homes, the market was flooded with developments of affordable smaller three bedroom homes that were 1200-1800 sq Ft
Today, most new construction is 3000 foot McMansions or age restricted retirement homes.

 

[Moonglow]

Democrats love to divide people into groups and then convince one group that the other group is oppressing them for some reason. And, you should hate people who oppress you, and vote for Democrats because those Democrats will protect you from your evil oppressor.

here you are putting people into groups and claiming they are ruining everything, the irony meter is off the chart!

 

[Moonglow]

Like it or not, the market for those homes will eventually pass to the post Boomer generations.

When the Boomers were young and looking for new homes, the market was flooded with developments of affordable smaller three bedroom homes that were 1200-1800 sq Ft
Today, most new construction is 3000 foot McMansions or age restricted retirement homes.

Yes indeed, my first home in 1986 was around one thousand square feet and it was a USDA/FMHA home that the govt. helped me buy. The interest rate was like nine percent.

 

[Moonglow]

What is the stupidest statement is that the OP thinks all the Boomers are Democrats..

 

[DGS49]

I live in an area that is "older" statistically than the fabled St Petersburg, Florida, and housing for Boomer couples is...well...BOOMING. Townhouses, condo's, retirement villages, and so on, and they are filling up as quickly as they can be built (at exhorbitant prices). This leaves the large, single-family houses for the following generations, who can only afford them with help from - guess who? - their Boomer parents.

It all fits together, doesn't it?

 

[bill718]

MSN

www.msn.com

The period in question runs from 1946-1964, an era of rampant economic growth and increasing social mobility. America was prosperous from its role as the world’s prime industrial powerhouse after rehauling its productivity for the war effort.

Consequently, this generation had more children than ever in U.S. history, bringing an average of 4.24 million newborn citizens yearly. According to Statista.com, the boomer generation made up 40% of the population at its peak, though this has now halved. Nevertheless, baby boomers retain a powerful influence over commercial marketing due to their more liquid fiscal status.

However, according to the National Association of Realtors (NAR), their influence in the housing market is even more significant. The younger generations are fighting a losing battle with their grandparents and parents for real estate. In short, home buyers are, unsurprisingly, getting older.

Baby boomers now sit on more substantial assets than ever after volatile fluctuations over the past year. Subsequently, “boomers” had the highest market share for home sellers (53%) and buyers (39%) between 2021 and 2022. Older adults have been able to take advantage of the market rates to sell their properties at a premium, which means emergent Generation Z home buyers will have to wait longer — if they are lucky enough.


LOL.....The “everyone gets a trophy generation” is learning the hard way that not everyone gets a trophy. You have to be smart, plan, and work hard to get a trophy.

Blah.....Another example of Democrat hate.

Democrats love to divide people into groups and then convince one group that the other group is oppressing them for some reason. And, you should hate people who oppress you, and vote for Democrats because those Democrats will protect you from your evil oppressor.

Yes - This is true. I'm a 70-year-old boomer, and a homeowner. My generation does have substantial RE assets. I would add however that it wasn't all sunshine and roses for us. We clawed our way up through 12% mortgage interest rates, numerous recessions, offshored jobs, and an unemployment rate 2-3 times what we have today. Working 2 jobs was one of the few ways to escape poverty - - and it didn't have anything to do with politics.

 

[gipper]

MSN

www.msn.com

The period in question runs from 1946-1964, an era of rampant economic growth and increasing social mobility. America was prosperous from its role as the world’s prime industrial powerhouse after rehauling its productivity for the war effort.

Consequently, this generation had more children than ever in U.S. history, bringing an average of 4.24 million newborn citizens yearly. According to Statista.com, the boomer generation made up 40% of the population at its peak, though this has now halved. Nevertheless, baby boomers retain a powerful influence over commercial marketing due to their more liquid fiscal status.

However, according to the National Association of Realtors (NAR), their influence in the housing market is even more significant. The younger generations are fighting a losing battle with their grandparents and parents for real estate. In short, home buyers are, unsurprisingly, getting older.

Baby boomers now sit on more substantial assets than ever after volatile fluctuations over the past year. Subsequently, “boomers” had the highest market share for home sellers (53%) and buyers (39%) between 2021 and 2022. Older adults have been able to take advantage of the market rates to sell their properties at a premium, which means emergent Generation Z home buyers will have to wait longer — if they are lucky enough.


LOL.....The “everyone gets a trophy generation” is learning the hard way that not everyone gets a trophy. You have to be smart, plan, and work hard to get a trophy.

Blah.....Another example of Democrat hate.

Democrats love to divide people into groups and then convince one group that the other group is oppressing them for some reason. And, you should hate people who oppress you, and vote for Democrats because those Democrats will protect you from your evil oppressor.

Most boomers will be dead in 20 years. So no need to fret. Just wait.

And besides, what do Ds have to do with the real estate market.

 

[1srelluc]

Yes - This is true. I'm a 70-year-old boomer, and a homeowner. My generation does have substantial RE assets. I would add however that it wasn't all sunshine and roses for us. We clawed our way up through 12% mortgage interest rates, numerous recessions, offshored jobs, and an unemployment rate 2-3 times what we have today. Working 2 jobs was one of the few ways to escape poverty - - and it didn't have anything to do with politics.

Yep pretty much the same here.

I remember when I got tired of messing with hunting leases....I just went out and bought my own property to hunt, fish, shoot on.

Nobody gave me shit, and I worked my ass off between OT and selling stuff at the flea market to pay it off in five years.

If you want a "trophy" then work for it.

 

[rightwinger]

If you want a "trophy" then work for it.

I don’t think it is a case of them not wanting to work or sacrifice for a house.

I bought my first house in the mid 80s for $150,000 at 12 percent. I earned enough to pay the mortgage.

My kids are looking for homes in the $500,000 range and don’t have the job security or salary to pay for it. Many have massive student debt.

 

[DGS49]

I don’t think it is a case of them not wanting to work or sacrifice for a house.

I bought my first house in the mid 80s for $150,000 at 12 percent. I earned enough to pay the mortgage.

My kids are looking for homes in the $500,000 range and don’t have the job security or salary to pay for it. Many have massive student debt.

Surely you re-mortgaged the house after a few years.

A "starter" home for $500k? Where I live, that is a substantial house. You can still get a home like the first one I bought (in 1977) for $250k or less.

Job security? When did that ever exist (outside the public sector)?