Baby boomers: Are you upgrading or downsizing your home?
Starter home demand has skyrocketed. Are baby boomers the reason?
In recent years, baby boomers seeking to downsize and move into smaller homes after retirement have been met by a challenging housing market. They are bidding against millennials. Despite holding more real estate wealth than any other generation, they are competing amid a nationwide housing shortage, Business Insider reported in 2021. The supply of starter homes available in the country is reportedly the lowest it’s been in 50 years. This makes it more difficult than ever to find a starter home — whether you are a Boomer or not.
However, some boomers may be looking to spend the fruits of their labor on more lavish living environments. The lingering effects of the pandemic have discouraged many boomers from vacationing or going far from home, which explains the 22 percent of baby boomers in the market for larger homes and 43 percent who want to stay right where they are, per CNBC.
If you were born between 1946 and 1964, we want to know where you want to live. Are you looking to downsize or upgrade your home? Or maybe you’re not looking to move at all? Fill out our survey below or e-mail us at [email protected], and your response may be used in an upcoming Boston.com article and/or its social media channels.
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