Who Will Buy Baby Boomers’ Houses? The Question That Could Shape the 2030s
Summary
Baby boomers own about a third of all U.S. homes and nearly half of the country's real estate wealth. As they start selling these homes in the coming years, there are concerns that younger generations may struggle to buy them due to high prices and debt, and that many of these homes may need repairs or be in less popular areas.Key Facts
- Baby boomers hold $18 to $19 trillion in housing value, nearly half of U.S. real estate wealth.
- They own around one-third of all U.S. homes and 28% of homes with three or more bedrooms.
- Younger generations like Gen X, millennials, and Gen Z carry high levels of debt, making it hard to afford homes.
- In 2025, baby boomers made up 42% of homebuyers, compared to 26% millennials and 4% Gen Z.
- The average age for first-time homebuyers in the U.S. is now 40 years old.
- Many baby boomer homes are large, older, and may need renovations.
- Some homes are located in retirement or less job-connected areas, which might lower their value and appeal.
- The expected transfer of homes from baby boomers to younger generations in the 2030s is called the "silver tsunami" or "Great Transfer."
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