One Cool Thing – What Boomers Want
The Lawhead Team would like to share the latest “One Cool Thing” about baby boomers and housing.
32 percent of the U.S. population is 50 years of older, and two-thirds of the primary home equity is owned by those over 55. The choices made by this demographic group will impact housing opportunities available to younger generations, especially millennials.
- 19% of those under 55 have no mortgage
- 52% of those 55+ own their homes outright
- 59% do not plan on selling their home after retirement
- 47% plan to downsize after retirement
- 44% plan to move out of state after retirement
Sources: Administration on Aging, C.A.R. Baby Boomers Survey, 2014
