Baby Boomers are no longer the the most populous generation group having been surpassed by Millennials and the two groups may soon be competing for affordable rental housing. Millennials have been slow to buy, due largely to high prices, low supply of housing inventory, employment uncertainty, and crippling student debt.
Somewhat surprisingly, Freddie Mac’s recent survey of those born before 1961 reveals that many expect to move again and rent. The common belief is that this will make sense economically but the current rates would suggest otherwise.
Some analysts believe that the combination of Baby Boomers and Millennials may provide added pressure and incentive for affordable rental housing.