Rich Boomers, Broke Millennials, and Ambitious Gen Z Fight for Housing
Description
Which generation is taking control of the housing market? With Baby Boomers sitting on an enormous amount of equity-based wealth, younger generations now have to do their part to get in the game, but who is faring best? Gen Z is hungry to get into homeownership, but with their high cost of living, credit card and student debt, and low affordability, will they be a forever-renter generation? What about Millennials, many of whom were financially shell-shocked after leaving college and entering the workforce during the Great Financial Crisis? And don’t worry, Gen X, we didn’t forget you (even though almost everyone else did).
Today, Dave and each of our experts have taken one generation to report on. We’ll talk about Gen Z, Millennials, Gen X, and Baby Boomers—how much wealth they hold, their debts, whether or not they’re buying houses, and how they could affect the future housing market. Plus, we’ll touch on the financial mentality behind each generation and whether or not they have what it takes to become homeowners.
Finally, will the “Silver Tsunami” ever happen when Baby Boomers pass away and the flood of Boomer-owned houses hits the market? We’ll discuss the likelihood of this happening and whether or not the growing trend of “aging in place” could keep our housing inventory at rock bottom.
In This Episode We Cover
Why Gen Z is so poised to start buying real estate (but will they be able to?)
The Baby Boomers’ massive amount of equity wealth that may benefit the future generations
The largest generation of homebuyers that is still actively looking for places to live
Why this “forgotten generation” might be one of the wealthiest to come
The chance of a “Silver Tsunami” and what happens when Boomers pass down their housing wealth
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise
Find an Investor-Friendly Agent in Your Area
Grab Henry’s New Book, “Real Estate Deal Maker”
Find an Investor-Friendly Agent in Your Area
Boomers Hoard Houses, Millennials Struggle to Buy, But Gen Z Gets Ahead
Jump to topic:
(00:00 ) Intro
(02:58 ) Gen Z - The Renter Generation
(10:47 ) Millennials - The Homebuyer Generation
(16:51 ) Gen X - The Forgotten Generation
(26:18 ) Baby Boomers - The RICH Generation
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-264
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