Boomers Staying Put in Big Houses Squeezes Millennial Homebuyers
- Many boomers are staying in large homes, limiting supply for young families
- Millennials with kids own just 14% of big houses vs. 28% for older empty nesters
- Tight supply and high rates make homebuying harder for millennials
- Most millennials have student debt and credit card debt unlike past generations
- Housing issues may hurt Biden with younger voters frustrated over affordability