Tuesday, November 08, 2016

The Rise of the 55-Plus Homeowner

A lot has happened to the nation's homeowners in the past few years. There are fewer of them, for one thing. The total number of homeowners fell by more than 1 million between 2006 (the peak year) and 2015. But the loss occurred only because of the steep decline in homeowners under age 55, the number falling by 7.8 million (down 18 percent) as younger adults became increasingly unwilling or unable to buy a home.

In contrast, the number of homeowners aged 55 or older expanded by 6.4 million (up 20 percent) between 2006 and 2015, thanks to the aging of the baby-boom generation. The 52 percent majority of homeowners are aged 55 or older, up from just 43 percent in 2006.

Source: Census Bureau, Housing Vacancies and Homeownership, Historical Tables

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