New analysis from Freddie Mac economists finds that about 1.4 million existing homes have been withheld from the market by homeowners aged 71 to 88 years old staying in their homes.
Baby Boomers are also keeping homes off the market, roughly 250,000. Experts anticipate the wave of Boomer retirees to continue growing, complicating the current aging-in-place dynamic in U.S. housing, MarketWatch reports. Chief economist Sam Khater says, “We believe the additional demand for homeownership from seniors aging in place will increase the relative price of owning versus renting, making renting more attractive to younger generations." Earlier Freddie Mac data show that the nation's housing is underbuilt to the tune of 2.5 million units.
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