After all their economic misfortune, they'll still face a turbulent housing market and potentially tens of thousands of dollars' worth of necessary updates to boomers' aging houses.
In his 2022 paper, "Who will buy the baby boomers' homes when they leave them?
", Engelhardt argued that mass aging would send ripples through the housing market but fail to push down prices significantly.
After that point, demand for home purchases will once again outpace supply as millennials buy more homes and younger generations, like Gen Z and Gen Alpha, file in behind them.
The timing of boomers' exit will mostly benefit younger generations, like Gen Z and Gen Alpha, who should find themselves on steadier footing than their predecessors.
Persons:
Xers, they've, Zers, they'll, Odeta Kushi, Kushi, Gary Engelhardt, Engelhardt, Issi Romem, Meredith Whitney, Boomers, Gen Zers —, Gen, who've, millennials, boomers, Jessica Lautz, Nicole Bachaud, They've, Redfin, Alpha, they're, Lautz, savvier, Zoomers, James Rodriguez
Organizations:
millennials, Syracuse University, Boomers, Federal Reserve, Alpha, National Association of Realtors
Locations:
granny, New York, Los Angeles, Chicago, Dallas