Redfin: Empty Nesters Own Twice As Many Large Homes As Millennials With Kids

NEWS EXCERPT: Empty-nest baby boomers own 28% of the nation’s large homes, while millennials with kids own just 14%.

Empty nesters take up a lot of large homes because affordability was better when they were young, and there’s no financial incentive to sell now: Most boomers own their homes free and clear, and most who have a mortgage have a low rate…

OUR TAKE: Given the tight inventory of the Housing market that limits the 'move-in' opportunities for all demographic groups including empty-nest baby boomers, a significant % of larger homes may only transfer to a younger generation via estate planning and estate transfers, especially for baby boomer and other silver-generation owners who would rather stay put than enter a 55+ Adult-living community or other planned living or even the connected living that comes with silver-oriented Condo communities.

(Source news article on Redfin)

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