Older Baby Boomers are putting off retirement and downsizing, causing some experts to wonder if a "massive sell-off is on the horizon," according to a new study.
Compared to senior households in 2005, more seniors in 2016 were still working (+3.4 percent), fewer were living alone (-2.2 percent), and more had younger family members living with them (+1.7 percent), according to Trulia research. The metros where seniors could downsize if they chose to do so were some of the most affordable studied, a possible indication that Boomers staying in their homes is not causing home price increases in the local market, says the report.
The baby boomers are entering their golden years and are poised to become the largest generation of retirees in the country’s history. Through their sheer numbers, boomers have impacted the nation’s economic trends. Now, as more of them enter their retirement years, this generation’s housing preferences will help determine the housing options available to younger people entering the market.