Though a majority of Baby Boomers prefer to remodel their homes and age in place, at some point a big wave of homes will be put on the market.
CityLab reports that housing analysts aren’t sure that Millennials will buy these houses as the Baby Boomer generation starts to sell. Millennials, who are defined as adults born between 1985 and 2004, have been slower to buy houses than previous generations.
Many Millennials are struggling to afford a home. And in many cases, a house might not be a lifestyle fit. Millennials tend to prefer to live in urban cores, and many Baby Boomers live out in the suburbs and exurbs. Cities, however, are becoming more expensive, so Millennials may start to consider moving outwards.