Boomer, Can I Buy Your House?

February 8, 2025 TruthUSA

According to a Redfin study, 78 percent of baby boomers will stay in their current home, with no plans to move. Nearly 30 percent of all large homes—with three bedrooms or more—are occupied by empty-nest boomers. Just about 14 percent are occupied by millennials, who are much more likely to have children still at home.

Boomers who are “aging in place” will no doubt lower housing inventory for the immediate future. However, the baby boomer generation is shrinking at an accelerating pace. Baby boomers are a huge group that has had an unprecedented impact on society. The passing of the baby boomer generation will likely also have outsize implications for the economy and the housing market.

A website that tracks the baby boomer population death clock shows that of those born between 1946 and 1964 (aged 61–79), 35 percent—or 30.7 million—are already dead, out of a total 85.3 million boomers. The average lifespan for this generation is estimated to be 71–76 years for men and 77–84 years for women.

What does this mean as time goes by? What will the implications be as homes owned by baby boomers—often older, larger, less-efficient, and maintenance-hungry—go on the housing market? Will it help the inventory shortage? Or will it have the opposite effect, decreasing home values given that smaller, younger families want smaller, newer, more efficient homes?

Let’s look at what we might expect and how that might impact you if you’re in the market for a new home.

Housing Demand-Supply Balance

Over the next decade, millions of homes could hit the market thanks to aging baby boomers. The AARP reports that 80 percent of people aged 50 or older own a home. As those homeowners start to downsize, pass away, or cash-in on their equity, it releases more homes on the market.

Empty-nester boomers are finding that a mostly empty giant home can be expensive to maintain, heat, and cool.

Heirs are picking up boomer homes bequeathed to them and, in many cases, immediately monetizing these assets by putting the homes up for sale.

Changing Neighborhoods

Boomer homes have some drawbacks that can keep them from selling quickly.

One drawback is the predominant geographic location of these homes. Homes owned by the boomer generation are frequently located in less-expensive markets that aren’t preferred destinations for younger families and workers.

Cities such as Cleveland, Pittsburgh, and Buffalo—areas known for industrial employers including U.S. Steel, IBM, and Kodak—feature a high share of boomer homes, but those areas aren’t where the jobs are today, for the most part.

Job centers such as San Jose, Austin, and Denver have a smaller share of empty-nest households, but are in higher demand location-wise.

Aside from employment trends, if a home’s neighborhood has changed over the years, it might no longer be as desirable as it once was. In many older cities, gangs and crime that weren’t a problem decades ago are today a serious problem.

Pros and Cons of Older Homes

There are pluses and minuses when it comes to the typical boomer house itself, aside from its location.

These are frequently older homes and may have outdated designs, appliances, and fixtures that don’t align with modern tastes.

The older the home, the higher the cost of maintenance. That can be a deterrent for potential buyers as these types of costs, along with home insurance, have been increasing rapidly.

Older homes are generally less energy-efficient, leading to higher utility costs. Energy costs are becoming a huge burden for homeowners, providing an incentive for smaller and far more efficient living spaces.

On the other hand, there are things that work in favor of these older homes. They often feature unique architectural details and character that new builds lack. Building materials back then are too expensive to use today. The solid wood doors of the past have given way to today’s cheaper hollow-core doors.

Older homes may also be located in charming, reminiscent locations that are desirable for younger home buyers.

Some buyers see older homes as opportunities for renovation and customization. If you have remodeling and renovation skills, you can tackle the rewarding project of updating plumbing, electrical and heating, while keeping your old home’s character and charm.

How Can You Benefit From This Trend?

As boomers leave their homes, the collapsing boomer bulge may shift the housing market in favor of buyers. Heirs often want to sell inherited homes as quickly and painlessly as possible.

For families with several children, boomer homes can be a wonderful opportunity. Many boomers lived in established neighborhoods with good schools and amenities. That makes them attractive to younger families.

Finally, for those looking to diversify by investing in the real estate sector, boomer homes can be a great investment, either to live in or rent out, potentially building equity and financial stability.

The Epoch Times copyright © 2025. The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.

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