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BABY BOOMER HOMEOWNERS
July 5th, 2016 7:42 AM

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With 55+ homeowners controlling almost two-thirds of the nation’s home equity, the housing decisions they make in the future will significantly reshape America’s housing market.

Currently, 63% of the 55+ homeowners surveyed by Freddie Mac Consumer Research say they prefer to age in place if they have complete control over it.  However, 40% indicate they would prefer to move at least one more time.  This suggests that nearly 27 million homeowners over age 55 may move again within the next five years. 

Of those homeowners who would consider moving, only 12 % believe their next  home will be more expensive, while most believe it will either be in the same price range or less expensive.  Convenience is listed as the top factor influencing where to live, followed by affordability, amenities or less maintenance. 

Overall, 76% of homeowners over the age of 55 are confident they will have a financially comfortable retirement, and majorities in every demographic group share this confidence to varying degrees.  Most also believe that homeownership makes financial sense, so baby boomers will continue to purchase.

The overwhelming message of this survey is that homeownership works and that 55+ers are confident as they head into retirement or are already there.  The senior real estate market will continue to flourish in future years.

Written by Barbara Doeringer


Posted in:Real Estate
Posted by Allen Doeringer on July 5th, 2016 7:42 AMPost a Comment

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