Baby Boomers & Real Estate in America

Did you know that the Baby Boomer generation owns about 2/3 of the country's real estate equity? Baby Boomers, or Americans born between 1946 and 1964, have a wealth of knowledge with real estate matters. It comes from their near half a century worth of experience buying, selling, investing and holding property. They have seen it all, done it all. Everything from perfecting the American suburb in the 1980s to successfully overcoming the Sub-Prime mortgage crisis of 2008 and taking on the housing duties of their aging parents. We can learn a lot about real estate through the Boomer's experience.

So, how is this group shaking things up now? As the largest age group in the country, with a whopping 73 million people strong, Booms are an impressive bunch. The demand for varied housing options has real estate developers concentrating on condominiums with luxury features like vaulted ceilings, attached garages and clubhouse amenities- features to support a change in pace. As well as multi-generational living with added square footage, finished basements and multi-level floor plans. This generation of homeowners continues to leave their mark, settling for nothing but the best; and due to their size, they cannot be ignored. Everyone is paying attention to the boom in 55+ real estate and new construction, as it relates to the active lifestyles of this group to live independently, as they see fit.

As predecessors of the Silent Generation- Americans born before 1945, Boomers have the added responsibility of caring for their own homes as well as their parents' and their homes. This duty comes in the form of helping to maintain, sell or acquire a different living situation. Often times, these moves require efforts in the form of time and/or money. In some cases people in this position have the experience to handle these matters independently and in many other circumstances the time commitment can be strenuous on the working adult's schedule or active lifestyle. The support of a REALTOR® with proficiency in the real estate needs of our 55+ adults is a relief in many cases.

The Boomer is continuing to solidify their legacy on real estate in America. Baby Boomers have already made such an impact on the industry with their near half a century worth of experience shaping it into a great future for everyone.

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LumenLearning.com "The Rise of Suburbs"

United States Census Bureau

Los Angeles Times, Jan 5, 2020

MinnPost.com "Millennials get all the Credit for Embracing City Living. But the Trend Started with Generation X"