Baby Boomers Unwillingness to Downsize Clogs Real Estate Pipeline

Washington, DC, December 3, 2015—Baby Boomers aren’t downsizing as fast as earlier generations did, and that is contributing to a shortage of homes as well as rising prices, according to a report by the Washington Post.

“…[B]oomers’ behavior has had outsize effects on the national economy for decades,” says Post writer Kenneth R. Harney. “In real estate, their footprint is enormous.”

The article cites the Federal Reserve’s Survey of Consumer Finances, which estimated in 2013 that households led by people age 55 and older controlled two-thirds of all home equity, which is estimated to be worth around $8 trillion.