Boomer Parents Pushing Kids Out of Housing Market, New Data Reveals

According to a report from the National Association of Realtors, Baby Boomers are now buying more homes than Millennials, who are facing affordability problems due to rising rates and lack of inventory. Boomers have accumulated wealth and hold plentiful equity on their existing homes, allowing them to pay cash for a high proportion of their purchases. The shift in market share from Millennials to Boomers has been significant since late 2021, with Boomers now buying at a pace that's 60% faster than Millennials. The affordability problem faced by Millennials, coupled with low inventories, has made it challenging for them to compete with cash-buying Boomers in the housing market.