Blame it on the Baby Boomers! One of the biggest problems in real estate today is the lack of available homes for sale throughout the country. According to a recent report by USA Today, Baby Boomers are partially responsible as they’re not moving out of their homes and downsizing as they enter retirement.
The reasons are many. Approximately 20% of those 65 or older are still working as compared with just 12.1% back in 1996. In other cases, they have adult children living with them and need the space.
Some Baby Boomers are looking to downsize but can’t find a suitable smaller home.