That’s a big question in real estate right now. As Baby Boomers age and start downsizing, moving to retirement communities, or passing away, a massive number of homes will hit the market. The problem? Younger generations—Millennials and Gen Z—may not have the money or the desire to buy them. According to National Mortgage News article dated, June 30, 2022, there are 4 million boomer homes each year from 2022 and 2032. Let’s look at the possible buyers for these homes:
Possible Buyers:
Millennials & Gen Z (If They Can Afford It)
-
-
-
-
- Many younger buyers are struggling with student debt, high home prices, and expensive mortgages. But if prices drop due to oversupply, they may step in.
- Some Boomers’ homes are in suburbs or rural areas that younger generations may not want to move to.
-
-
-
Investors & Landlords
-
-
-
-
- Big investment firms could scoop up these homes to rent them out, especially in cities or high-demand areas.
-
-
-
Foreign Buyers
-
-
-
-
- Depending on the location, international investors could be interested in U.S. real estate.
-
-
-
Multigenerational Families
-
-
-
-
- More families might buy Boomer homes for shared living, combining resources across generations.
-
-
-
Repurposing & Redevelopment
-
-
-
-
- Some homes could be converted into multi-unit rentals, senior living, or even torn down for new housing projects.
-
-
-
