Boomers to blame for current housing market

Stevens and tate
Like Love Haha Wow Sad Angry

The current housing market has defied expectations of a downturn in real estate prices caused by this year’s surging mortgage rates. Instead, prices and demand have remained strong, confounding experts and stymying many first-time homebuyers.

The reason? “Blame the boomers,” according to one Wall Street economist.

It may seem paradoxical, acknowledged Barclays senior economist Jonathan Millar in a Thursday research report. After all, many would assume that an aging population would require fewer homes, but that’s actually not the case, he noted.

Baby boomers are actually creating more households, putting pressure on housing demand and keeping prices aloft despite the highest mortgage rates in more than 20 years. Boomers are creating more households partly because they’re separating due to divorce or death, Millar noted.


What Are Your Thoughts?


Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!