Boomers Buying Up Homes as Millennials Get Squeezed Out

Boomer parents are now buying more homes than Millennials, according to new data from realtors. Millennial share of home purchases dropped from 42% to 28% recently.

Boomers have accumulated wealth and equity to pay cash for many purchases, while most Millennials need mortgages. This gives Boomers an edge.

Millennials face severe affordability issues from rising rates and low inventory. Their share of first-time home purchases is the lowest since the 1980s.

Half of older Boomers and a third of younger ones pay cash for new homes. Only 6% of Millennials can do so.

Millennials frustrated watching Boomer parents and grandparents use wealth and equity to grab homes they want but can't afford.