Boomer Home Ownership Remains a Whopping 80%

Written by Posted On Tuesday, 03 March 2015 06:27

With the 2008 downturn, home ownership spiraled down and has now settled at 63%. The one aspect of the housing industry that has remained stable and is a pillar of strength is home owners who are 65 and older.With a sense of community, lower mortgage debt due to long time ownership, and financial stability they are remaining in their homes longer.

“This group has been a ballast for the market,” said Chris Herbert, acting managing director at the Joint Center for Housing Studies at Harvard University. “If not for them, we would have seen a much lower home ownership rate overall, more homes on the market and more weakness.”

Enjoy this informative and surprising report.

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