Housing Bubble 2: Return of the Ugly

Baby Boomer Housing Market Statistics

• More than half of boomers who currently own a home (54%) never plan to sell it and hope to live in it for the rest of their lives. 
• 90% of boomer homeowners have concerns about homeownership as they age, with maintenance/upkeep issues and rising costs the most common. 
• Nearly two-thirds of boomers who own homes (65%) expect to profit more than $100,000 when selling their home, while 40% expect to clear $200,000 or more.
• More than three-quarters of boomer homeowners (76%) say owning a home is the primary reason they’re financially secure.  
• Almost half of current boomer homeowners (46%) would consider themselves failures if they didn’t own a home.   
• Fewer than half of boomers (47%) required a double income to purchase their home.
• Half of boomers who have owned a home (50%) bought their first one for $75,000 or less, while almost two-thirds (64%) paid less than $100,000.
• 42% of boomers believe younger generations had an easier time than they did buying a home in their 20s. 
• Only 6% of boomer homeowners say their biggest challenge when buying their first place was that homes were too expensive. 
• When factoring in inflation, just half of boomers (50%) believe they would still be able to afford a home today.
• Among boomers who have never owned a home, two-thirds (66%) say they regret never achieving that milestone.
  •  Nearly two-thirds of this group (63%) say they simply couldn’t afford to buy a home.
• About half of boomers who once owned a home but don’t now (47%) wouldn’t*recommend homeownership to younger generations, but barely a quarter of current boomer homeowners (27%) feel this way.
• Boomers view themselves as the generation least responsible for the affordable housing crisis, a view held by 41% of respondents.
• 69% of boomers feel the government should do more to help first-time home buyers afford a house.
• About two-thirds of respondents (65%) believe America would be a better place to live if more people prioritized homeownership.
• 87% of boomers think buying a home was part of the American dream when they were younger, but only 73% think it still is.
• 57% of boomers believe younger generations could afford homes if they tried harder, and 64% believe younger generations could be homeowners if they were more responsible.

So incredibly, infuriatingly out of touch.