Boomers Sitting on Real Estate Goldmines While Millennials Struggle to Buy Homes
• Boomers own 28% of large homes vs 14% for millennials with kids • Over half of boomers own homes outright; median housing costs are just $612/month • Boomers locked in low mortgage rates; millennials face high rates and prices • Boomers hold half of US wealth, much in real estate; bought when more affordable • Little incentive for boomers to sell as still young and have low costs; supply to trickle not flood