wowbagger@lemm.eetoNews@lemmy.world•Boomers won’t part with their homes, and that’s a problem for young families
6·
8 months agoIf you click through to the Business Insider article you can see that it’s a misquote. Private investors accounted for 44% of the flips in 2023, not 44% of all single family home purchases total. That’s still a problem, but it’s a huuuuuge difference. Flips are a small minority of home sales.
This article is cherry picking numbers from a Redfin study. It says 28% empty-nest Boomers vs 14% Millennials with kids. Together those two subsets own 42% of large homes (3+ bedrooms). So that doesn’t account for elder GenZ, Millennials without kids, all of GenX, and any boomers that don’t count as “empty-nest” for whatever reason. It’s not half corps like everyone keeps saying.