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Boomers Insist On Doing It Their Way

March 5th, 2015 Written By Carol Pawley

Baby Boomers

Despite the decrease in wealth and the fact that more Americans are working past age 65, Baby Boomers are still retiring or planning to retire when they reach their mid-sixties. Fewer than half of Boomer households are retired today, but a majority will be retired five years from now.

They are said to be adapting retirement and housing plans to new financial realties, but only time will tell because they may not stick to the plan.  Research from The Demand Institute reveals that not all Boomers are looking to downsize to a condo.With median assets of $240,000 – more than half of which is tied up in their homes – many Boomers still have a ways to go. However, the majority are staying in homes that they have lived in for a decade or longer. For most, the decision to stay put is a matter of choice.  This generation insists on doing things their way.

One thing is for sure, what they decide will have important implications in the real estate market.  It’s estimated that in the next five years, Boomers will account for nearly $1 out of every $4 dollars spent on home purchases and rent.

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