What percentage of baby boomers own homes?

The trend is national, according to the Construction Coverage data, with boomers owning 38% of homes nationwide despite comprising just over 20% of the U.S. population.

What years define the different generations?

Generations defined by name, birth year, and ages in 2024 Generations Born Current Ages Gen Z 1997 – 2012 12 – 27 Millennials 1981 – 1996 28 – 43 Gen X 1965 – 1980 44 – 59 Boomers II (a/k/a Generation Jones)* 1955 – 1964 60 – 69 3 more rows Feb 29, 2024

How did boomers cause housing crisis?

“When baby boomers hold onto their homes, which are often larger family sized homes, they create a shortage of homes for younger families who are trying to buy their first home or move up to a larger house,” said Zhao.

Do baby boomers overtake millennials as largest generation of home buyers?

Key Highlights. Baby boomers now make up 39% of home buyers – the most of any generation – an increase from 29% last year. Generation Z now makes up 4% of buyers, with 30% of Gen Z moving directly from a family member's home into homeownership.

Which generation had it the easiest?

The supposition is that boomers had it easier: Homes could be had for a dime and a handshake, a single paycheck supported three kids with two cars and a white picket fence to boot, and you could work your way through college without going into debt.

How many years is 20 generations?

In other words, our ancestors increase exponentially the further back we look. About 20 generations ( about 400 years ), ago we each have about a million ancestors - and after that the numbers start to get even sillier. Forty generations ago (800 years) gives us one trillion ancestors, and fifty gives one quadrillion.

In a 2022 report, the U.S. Census designates Generation Z as "the youngest generation with adult members (born 1997 to 2013)." Statistics Canada used 1997 to 2012, citing Pew Research Center, in a 2022 publication analyzing their 2021 census. The Library of Congress uses 1997 to 2012, citing Pew Research as well.

How many baby boomers own their own home?

While 54% of baby boomer homeowners own their homes free and clear, according to Redfin, most of those with mortgages have low rates.

How many boomers still own homes?

About 28% of all U.S. homes with three or more bedrooms are owned by people between the ages of 60 and 78 living by themselves or with another adult , according to a Redfin analysis of 2022 census data. Millennials living with children own just 14% of these bigger homes.

Do boomers own the most homes?

As a result, empty-nest Baby Boomers own 28% of large homes — and Milliennials with kids own just 14%, according to a Redfin analysis released Tuesday. Gen Z families own just 0.3% of homes with three bedrooms or more. “Boomers love their homes.

Which generation is buying the most homes?

Percent of home buyers by generation Generation 2022 2021 Millennials 28% 43% Gen X 24% 22% Baby boomers 39% 29% Silent 4% 4% 1 more row Apr 2, 2024

Some Boomers Think That Netflix Subscriptions And Takeout Are The Main Reasons Why Millennials Can’t Afford Homes, Millennials React (31 Tweets) (2024)

363Kviews

Social Issues

Jun 20, 2022

ADVERTIsem*nT

When the generation of millennials grew up and became adults, they were almost right away accused of crashing the economy and boomers were very concerned that they were eating too many avocados. So many that if they didn’t buy so many of them, they could have bought a house already.

Now they've found new reasons why millennials can’t afford their own property and that is Netflix and takeaway food. The Times released an article about how baby boomers suggest young people should stop indulging in such life luxuries as Netflix and takeaway coffee and food. A study by researchers at King’s College London showed that half of the population of people born between 1946 and 1964 believe this.

Image source: thetimes

People online were disappointed by the study’s results, but not surprised, as the narrative about millennials being lazy and too wasteful of money is a long-standing one, but that doesn’t mean that they’ll stay silent about it. When The Times shared the article in a Twitter thread, they received quite heated responses, which Bored Panda collected in this list.

More info: Twitter

This post may include affiliate links.

POST

Vishy

Community Member

1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Round attention Svg Vector Icons : http://www.onlinewebfonts.com/icon Report

Gen X here. It's as bad for us as millennials. That's the time when the prices started to rise. Now I can forget my retirement fund. I can barely put my son through college.

Vote comment up

72points

Vote comment down

View More Replies...

View more commentsArrow down menu

The Times, the British daily national newspaper, recently shared a link on Twitter to an article on a survey demonstrating the attitudes of different generations on housing, and while the tweet didn’t blow up likes-wise, many people came to the comments to say their piece.

According to the research by the Policy Institute and Institute of Gerontology at King's College London, 52 percent of the baby boomer population agrees with the statement that the main reason young people can’t save up for a down payment to get a house is that they spend too much on things like “takeaway coffees and food, mobile phones, subscription services like Netflix and holidays abroad.”

POST

Stacey Rae

Community Member

1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Round attention Svg Vector Icons : http://www.onlinewebfonts.com/icon Report

Lol you made me laugh. I'm sorry it's so financially hard. If the billionaires would share the money...

Vote comment up

39points

Vote comment down

View More Replies...

View more commentsArrow down menu

POST

beesechurger elite

Community Member

1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Round attention Svg Vector Icons : http://www.onlinewebfonts.com/icon Report

Mic drop.

Vote comment up

28points

Vote comment down

View More Replies...

View more commentsArrow down menu

It seems that this view went down a generation as even millennials themselves started to believe in this, and 48 percent of them agreed with baby boomers. The youngest adults, Gen Z, are not far behind, with 43 percent of them thinking that if they want to get a home, they should review their small spendings.

The survey also asked, “To what extent, if at all, do you agree or disagree with the following? The key reasons that young adults today cannot afford to buy their own home are things like the increase in house prices, stricter lending rules and low wage growth,” and surprisingly, 72 percent of boomers acknowledged that the skyrocketing prices are also a contributor to the problem.

ADVERTIsem*nT

POST

Jill Sophia

Community Member

1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Round attention Svg Vector Icons : http://www.onlinewebfonts.com/icon Report

How many Baby Boomers did the Times interview when they posted those headlines? Because they certainly weren't speaking for all of us! We're Baby Boomers (retired teacher and retired office worker), we often order out food, and yes, we have Netflix; so does our son — a Millennial who works hard at a demanding job — and so does his GF and most of their friends. Their generation, and Gen Z as well, are faced with stresses and demands that Boomers like us didn't have to deal with; it's much harder for them to find decent-paying jobs, and the 2008 recession plus the current pandemic haven't helped either. I will not criticize any hardworking young person for having Netflix, ordering takeout food, or (for that matter) buying avocados — small comforts that we all need to make our lives better in this crazy world. Mstrtheir

Vote comment up

96points

Vote comment down

View More Replies...

View more commentsArrow down menu

POST

Ozacoter

Community Member

1 year ago (edited) DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Round attention Svg Vector Icons : http://www.onlinewebfonts.com/icon Report

Exactly. Changes have increased a lot. About 20 years ago my aunts bought a big 3 bedroom appartment (in good condition) in the centrum of our city for what now would be like 140.000 euros. I just checked and there is a similar apartment (but old) in the same street for 800k. How is our fault that we cannot afford houses? I do not earn eight times what they earned.

Vote comment up

37points

Vote comment down

View More Replies...

View more commentsArrow down menu

POST

Dash Blue

Community Member

1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Round attention Svg Vector Icons : http://www.onlinewebfonts.com/icon Report

Really? I have been with Netflix since the early dvd days. The fabulous riches I could have been experiencing if I had never signed up.

Vote comment up

37points

Vote comment down

View more commentsArrow down menu

Even though baby boomers acknowledged that not being able to afford houses is a complex problem consisting of factors that do and don’t depend on younger people, they still have the view that they are less motivated and hardworking than older coworkers. 54 percent of them have formed such an impression about their younger colleagues, although 34 percent didn’t see a difference in motivation and only 4 percent noticed them being more motivated.

It is really annoying for younger people to be blamed for not being able to afford a home because of occasionally spending money on things that bring them happiness and help to cope with stress.

But they should feel a little bit of consolation knowing that 81 percent of boomers, the biggest percentage of all generations questioned, admitted that young adults today have a harder time buying a home compared to their parents.

POST

Rhyme Like A Lime

Community Member

1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Round attention Svg Vector Icons : http://www.onlinewebfonts.com/icon Report

It's those damned streaming services that cost $10 a month, obviously if we can cancel that we can afford a $350,000 starter home

Vote comment up

48points

Vote comment down

View More Replies...

View more commentsArrow down menu

ADVERTIsem*nT

POST

Mia D

Community Member

1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Round attention Svg Vector Icons : http://www.onlinewebfonts.com/icon Report

Not forget to mention the average cost of raising a child (0 to 17 y.o) is 233K in the US. My neighbors paid literally 100K for a preschool/kindergarten in 5 years! My other neighbors pay 2900 us dollars a month for Montessori academy (it is sort of preschool-learning kindergarten). So my question to baby boomers- how much did you spend on your kids?

Vote comment up

31points

Vote comment down

View More Replies...

View more commentsArrow down menu

ADVERTIsem*nT

POST

Chay

Community Member

1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Round attention Svg Vector Icons : http://www.onlinewebfonts.com/icon Report

Credit scores don't exist anyone everyone, let's go get some houses hell yeah 😎

Vote comment up

19points

Vote comment down

View More Replies...

View more commentsArrow down menu

#10

POST

Mikey Kliss

Community Member

1 year ago DotsCreated by potrace 1.15, written by Peter Selinger 2001-2017

Round attention Svg Vector Icons : http://www.onlinewebfonts.com/icon Report

This!!

Vote comment up

12points

Vote comment down

Some Boomers Think That Netflix Subscriptions And Takeout Are The Main Reasons Why Millennials Can’t Afford Homes, Millennials React (31 Tweets) (2024)

FAQs

What percentage of baby boomers own homes? ›

Which generation is buying the most homes? ›

Generations	Born	Current Ages
Gen Z	1997 – 2012	12 – 27
Millennials	1981 – 1996	28 – 43
Gen X	1965 – 1980	44 – 59
Boomers II (a/k/a Generation Jones)*	1955 – 1964	60 – 69

Generation	2022	2021
Millennials	28%	43%
Gen X	24%	22%
Baby boomers	39%	29%
Silent	4%	4%