* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, October 24, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    ‘Chainsaw Man — The Movie: Reze Arc’ Review: Hit Manga Gets an Ultra-Violent, Surprisingly Emotional Big-Screen Adaptation – Yahoo

    Chainsaw Man – The Movie: Reze Arc Review: A Brutal and Unexpectedly Emotional Big-Screen Adaptation

    Reba McEntire Details Personal Relationship With Late Stepson Brandon Blackstock – KNDU

    Reba McEntire Shares Emotional Tribute to Her Late Stepson Brandon Blackstock

    Sacramento city leaders approve adding 2 entertainment zones in midtown – CBS News

    Sacramento City Leaders Approve Two Thrilling New Entertainment Zones in Midtown

    AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

    AMC Launches First New Dolby Experience in Gwinnett Since 2017

    Hetzel Design: blending architecture and entertainment – Blooloop

    Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

    Country music legend rushed to hospital year after heart surgery. Here’s what we know – PennLive.com

    Country Music Legend Rushed to Hospital One Year After Heart Surgery – What’s Happening Now?

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Project underway to upgrade technology on 911 towers in Kanawha County – WCHS

    Kanawha County Launches Major Upgrade to 911 Tower Technology

    Next steps: Technology opens new options for greater mobility – Missouri Independent

    Next Steps: How Technology is Opening Exciting New Doors to Greater Mobility

    Rydberg Technologies Inc. Announces Launch of Rydberg Photonics in Berlin – The Quantum Insider

    Rydberg Technologies Launches Exciting New Photonics Division in Berlin

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    ‘Chainsaw Man — The Movie: Reze Arc’ Review: Hit Manga Gets an Ultra-Violent, Surprisingly Emotional Big-Screen Adaptation – Yahoo

    Chainsaw Man – The Movie: Reze Arc Review: A Brutal and Unexpectedly Emotional Big-Screen Adaptation

    Reba McEntire Details Personal Relationship With Late Stepson Brandon Blackstock – KNDU

    Reba McEntire Shares Emotional Tribute to Her Late Stepson Brandon Blackstock

    Sacramento city leaders approve adding 2 entertainment zones in midtown – CBS News

    Sacramento City Leaders Approve Two Thrilling New Entertainment Zones in Midtown

    AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

    AMC Launches First New Dolby Experience in Gwinnett Since 2017

    Hetzel Design: blending architecture and entertainment – Blooloop

    Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

    Country music legend rushed to hospital year after heart surgery. Here’s what we know – PennLive.com

    Country Music Legend Rushed to Hospital One Year After Heart Surgery – What’s Happening Now?

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Project underway to upgrade technology on 911 towers in Kanawha County – WCHS

    Kanawha County Launches Major Upgrade to 911 Tower Technology

    Next steps: Technology opens new options for greater mobility – Missouri Independent

    Next Steps: How Technology is Opening Exciting New Doors to Greater Mobility

    Rydberg Technologies Inc. Announces Launch of Rydberg Photonics in Berlin – The Quantum Insider

    Rydberg Technologies Launches Exciting New Photonics Division in Berlin

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Boomers’ dominance of the housing market is so complete that empty nesters own twice as many large homes as millennials with kids, Redfin analysis reveals

January 16, 2024
in Business
Boomers’ dominance of the housing market is so complete that empty nesters own twice as many large homes as millennials with kids, Redfin analysis reveals
Share on FacebookShare on Twitter

We all know that baby boomers are dominating the housing market, as they either own their homes outright or have locked-in low mortgage rates, while their properties appreciate in value. But Redfin reveals it’s perhaps even worse than you thought, with an analysis suggesting empty nesters are sitting on all the biggest homes that millennials could be using to raise their children instead.

Empty-nest boomers, which Redfin defines as baby boomers with one to two people living in the household, own 28% of the country’s large homes, which it defines as three bedrooms-plus, whereas millennials with kids own only 14%, the newly published report found. 

Redfin’s analysis, which uses U.S. census data from 2022 (the most recent available), lists several reasons why boomers “own an outsized share of large homes.” For one, there’s really no financial reason to let go of a large home. More than half of boomers own their homes outright, and their median monthly cost of owning a home, including insurance and property taxes (among other costs) is just $612, according to Redfin. To compare, the median mortgage payment during the four weeks ending Dec. 31, 2023 was $2,361, down $372, or 14%, from October’s all-time high. 

And boomers with a mortgage mostly have an interest rate that’s much lower than the current market rate. “Even if they downsized, they may have a nearly identical monthly payment,” wrote Redfin’s data journalist and senior economist, Dana Anderson and Sheharyar Bokhari. While mortgage rates have fallen from a recent peak at just above 8% in October, the average 30-year fixed rate is sitting at 6.77%.

For millennials it’s much harder to find, let alone afford, a home given how tight supply is. The lock-in effect has severely limited the supply of existing homes for sale. Meanwhile, home prices rose substantially during the pandemic-fueled housing boom, and have generally continued to rise, certainly on a nationwide basis. 

“2023 was the least affordable homebuying year on record; it was especially hard for younger Americans who don’t have equity from a prior home, and the bigger the home, the more expensive it generally is,” Anderson wrote, noting that affordability is expected to improve this year. 

Boomers hold half of U.S. wealth, much of it in housing

Since the 1980s, trillions of dollars have flowed from the public sector to the private sector in a “massive wealth transfer,” that benefited baby boomers; household wealth increased from $17 trillion to $150 trillion, a record high, according to Bank of America Research strategists, led by Ohsung Kwon, touched on this as they pointed out that “everyone locked in 3% mortgage rates, except millennials.”

They’ve also benefited from “an abundance of newly built homes and favorable economic conditions during their prime moneymaking years,” as Redfin pointed out. Boomers built wealth and bought big homes, and now they’ve seen those home values grow four times faster than incomes over the last several decades, the report notes. 

“Boomers hold half of the wealth in the U.S., and much of it is in real estate,” Anderson and Bokhari wrote. “Americans who bought their homes more than 20 years ago didn’t have to spend as big of a portion of their incomes on housing as those—like millennials—who are buying today.”

However, to be clear, lots of boomers entered the housing market in the 1980s, when mortgage rates peaked at roughly 18% as Federal Reserve Chair Paul Volcker attempted to lower inflation, which reached 14% (not dissimilar to last year’s housing market). But to put it simply, boomers had more time to buy homes and refinance their mortgages, which has pushed them ahead—so millennials are renting instead.

Millennials with kids account for nearly 25% of three-bedroom-plus rentals throughout the country—the largest share of any generational category. It helps that, as of late last year, rent was cheaper than mortgages in all but two of 97 major metropolitans. But obviously not all millennials can afford to rent large homes, some live with family or roommates. 

But it hasn’t always been this way. “The landscape has transformed over the last decade: 10 years ago, young families were just as likely as empty nesters to own large homes,” Anderson and Bokhari wrote. And it doesn’t seem to be changing immensely anytime soon.

“There’s unlikely to be a flood of large homes hitting the market anytime soon,” Bokhari said. “Boomers don’t have much motivation to sell, financially or otherwise. They typically have low housing costs, and the bulk of boomers are only in their 60s, still young enough that they can take care of themselves and their home without help.”

Although affordability is set to improve slightly and the lock-in effect is set to ease—so while there won’t be a flood of inventory hitting the market, there will be a trickle, as Bokhari put it.

Subscribe to the CEO Daily newsletter to get the CEO perspective on the biggest headlines in business. Sign up for free.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Fortune – https://fortune.com/2024/01/16/redfin-baby-boomers-empty-nesters-millennials-housing-market/

Tags: boomersbusinessdominance
Previous Post

JetBlue facing $470 million payment to Spirit Airlines after judge sides with government and blocks $3.8 billion merger

Next Post

The world’s 5 richest people, from Elon Musk to Jeff Bezos to Warren Buffett, doubled their wealth to $869 billion since 2020, report finds

Ecology researchers work to update Columbia River fish advisories — but face new challenges in climate change – Longview Daily News

Ecology researchers work to update Columbia River fish advisories — but face new challenges in climate change – Longview Daily News

October 24, 2025

Unlock the Secrets to Growing a Giant Pumpkin Using Science

October 24, 2025
Rare dinosaur mummies help scientists recreate their prehistoric lives – ABC News – Breaking News, Latest News and Videos

Rare Dinosaur Mummies Unlock Secrets of Their Prehistoric Lives

October 24, 2025
Orange Cat Celebrates Halloween by Putting Candy Corn in Her Water Bowl – Yahoo

Orange Cat’s Hilarious Halloween Trick: Candy Corn in Her Water Bowl!

October 24, 2025
Project underway to upgrade technology on 911 towers in Kanawha County – WCHS

Kanawha County Launches Major Upgrade to 911 Tower Technology

October 24, 2025
Sports gambling indictment revives tough questions about integrity – Axios

Sports Gambling Indictment Sparks Renewed Debate Over Integrity

October 23, 2025
Former world chess champion Vladimir Kramnik investigated for bullying following death of grandmaster Daniel Naroditsky – CNN

Former World Chess Champion Vladimir Kramnik Under Investigation Amid Tragic Loss of Grandmaster Daniel Naroditsky

October 23, 2025
Trump approval on economy hits new low: Quinnipiac poll – The Hill

Trump’s Economic Approval Hits Historic Low in Shocking New Poll

October 23, 2025
‘Chainsaw Man — The Movie: Reze Arc’ Review: Hit Manga Gets an Ultra-Violent, Surprisingly Emotional Big-Screen Adaptation – Yahoo

Chainsaw Man – The Movie: Reze Arc Review: A Brutal and Unexpectedly Emotional Big-Screen Adaptation

October 23, 2025
WHO launches new country guidance for health emergency coordination – World Health Organization (WHO)

WHO Launches Bold New Global Guidelines to Revolutionize Health Emergency Coordination

October 23, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (883)
  • Economy (904)
  • Entertainment (21,775)
  • General (17,768)
  • Health (9,945)
  • Lifestyle (917)
  • News (22,149)
  • People (905)
  • Politics (914)
  • Science (16,115)
  • Sports (21,404)
  • Technology (15,884)
  • World (887)

Recent News

Ecology researchers work to update Columbia River fish advisories — but face new challenges in climate change – Longview Daily News

Ecology researchers work to update Columbia River fish advisories — but face new challenges in climate change – Longview Daily News

October 24, 2025

Unlock the Secrets to Growing a Giant Pumpkin Using Science

October 24, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version