Planetizen Store Super Cyber Sale ad
Planetizen - Urban Planning News, Jobs, and Education

Study Finds Seniors Could Be Stuck with Unsellable Homes in the Future

A new paper predicts that home-buying trends among younger generations will lead to a flood of homes that older homeowners will not be able to sell.
August 25, 2020, 9am PDT | Camille Fink
Share Tweet LinkedIn Email Comments
Pexels

New housing research suggests that senior homeowners in the future will have trouble selling their homes, the result of a mismatch between the number of available homes and the millennial and Generation Z buyers able to afford them.

"The study predicts that the change in home-buying behaviors by younger generations may result in a glut of homes that could grow as high as 15 million by 2040, with homeowners selling for far below what they paid – if they can sell them at all. Most seniors will be able to sell their homes, the study says, but it may become especially difficult in smaller, distant and slow- or non-growing markets," writes Kyle Mittan.

The problem will be especially acute in rural and suburban areas where growth and development are slower. Possible policy solutions include a federal buyback program and programs that match younger people with seniors in homes for house-sharing arrangements.

Full Story:
Published on Tuesday, August 11, 2020 in UANow
Share Tweet LinkedIn Email