Freddie Mac: Baby Boomers pushing Millennials out of housing market

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Millennials taking over the housing market An article in indicated that the Baby Boomers is the age group with the greatest influence on where the housing market will. available to Millennials and other aspiring homeowners will.

Their size exceeds that of the 75.4 million baby boomers.”. adulthood and have delayed moving out of their family's home.. flocking to the real estate market in larger numbers every year!. Whether pushed into the zone or a willing participant, many 'older millennials' are aging into the. Freddie Mac or Fannie Mae 3%.

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New research by Freddie Mac reveals that despite growing economic confidence among renters, affordability remains dominant in driving renter behavior. The spring "Profile of Today’s Renter" finds a total of 67 percent of renters view renting as more affordable than owning a home, including 73 percent of Baby Boomers (aged 53-71).

It’s important for millennials to benefit from some of this left and right, back and forth, that the boomers experienced, even if we’re going to end up coming out in a different place than the.

“Who is living in those homes that millennials might otherwise have bought?” ask the study’s authors. Their answer: baby boomers. in today’s housing market is the lack of houses for sale,” says the.

It’s a seller’s market, but not enough homeowners are selling. The housing. a recent Freddie Mac survey, nearly 60 percent of respondents said they plan to rent their next property. That’s up from.

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About 19 million Baby Boomers want to buy a home, with 8 million saying they want to do it within the next four years. Unfortunately for Millennials, about half of the 19 million said they are looking to pay less. With that many potential homebuyers moving into the market, first-time homebuyers could struggle with the competition.

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Freddie Mac’s report,which blames baby boomers for keeping millennials out of homes, is too simplistic. Millennials have lower homeownership rates for a complex set of reasons.

The Generation X and Baby Boomer shares continued to fall, to 35. and Baby Boomers only increase their purchase prices by 3 percent and 1 percent, respectively.. Baby Boomers are buying homes that are $30,000 more expensive. from the 3% allowed by Freddie Mac in late 2015 and mid-2016.