Aging baby boomers will change the housing market in ways that have never been experienced before, according to a new report on demographic effects on U.S. housing markets from the Bipartisan Policy Center.
The report projects the extent of new unprecedented demands for affordable, accessible housing from the 65+ population. It also describes the impact of seniors on the supply of housing, as they vacate their homes. Although many of their homes will be purchased by younger people, the number of homes left by the baby boom may well exceed the demand from younger potential buyers, particularly in the Northeast and Midwest.