As the baby boomers retire and sell their homes, will the housing market suffer?
As the baby boomers retire and sell their homes, will the housing market suffer as more inventory comes onto and already saturated real estate market?
Public Comments
- I don't see why...as they sell they will be, in most cases, downsizing and buying another home. Besides, more homes on the market means lower prices, which will benefit first time buyers and others.
- Nope in fact it should help. Because while there is a high amount of homes on the market there is still a shortage of quality homes on the market. Out of the 20 for sale signs that you see in your neighborhood only about 6 of them are quality and in good condition homes. I mention this because Baby boomers are the ones who have been in their homes for 20, 30, 40 years and they have taken great care of it cause it was there home not just a house. When baby boomers retire and decide to sell their home that they have cared for so well over the years it is a breath of fresh air in the market. So the answer your question the baby boomers homes will revitalize the market because it will reintroduce the quality of homes.
- Not necessarily. It depends on where in the country you are referring to. If the past is an indication of the future...people who retire in northern states tend to seek out more temperate environments to retire in...a lot of the housing boom in Florida came about due to snowbirds becoming sunbirds...
- As baby boomers retire and sell their homes I do not think the housing market will suffer. Today's baby boomer is more healthy than previous generations and I think they will stay in their homes as long as they can, or want to. I think we will see more reverse mortgages as baby boomers look for ways to stay in their homes or to downsize to smaller homes. And... there are always new buyers coming in from other states and countries. I am in the baby boomer age group and the idea of going to a retirement home is not at all what I would want with my life as I retire.
