Were you born between 1946 and 1964? Then you are a Baby Boomer and Baby Boomers are not moving out of the Boston downtown 

What does that mean? In an article that appeared in Housingwire, and according to the Chicago Tribune, these Baby Boomers are a stick in the spokes of the homeowner cycle. And that clog equals some 1.6 million homes that are NOT coming on the market because they have chosen to “age in place” vs. selling and moving to a retirement community or some other community. As a result, these homes are not coming to market for those first time home buyers that are currently looking in the market. It is a form of housing gridlock if you will. 

Baby Boomers Not Moving

A recent study which found that 76% of Baby Boomers own their own homes.  Some 66% of those homeowners think that home values will continue to rise and an even greater 88% of them have renovation plans within the next 3 years!  And while Baby Boomers think their home is “just right,” a Millennial might look at an older home as a place to throw money as systems, and more, need updating.

Conclusion

If you have been thinking about “aging in place” or maybe downsizing to a smaller home or even a condominium, why not give us a call and we’d be happy to sit down with you and talk about some of your options

View these Boston condos for sale before they go Under Agreement


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Boston Downtown real estate for sale under $2,000,000


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