Summary of “Millennials Aren’t Having Kids. Here’s Why That’s A Problem For Baby Boomer Real Estate & Retirement”

Whatever the reason, the decision of Millennials to delay or forgo having children will have a ripple effect on wannabe Baby Boomer grandparents.
The majority of Baby Boomers’ wealth is not in the bank, in a pension plan or in an investment portfolio, but in their homes.
Despite the popular urban mythology of Boomer life in the big city, more than 70% of Baby Boomers are still living in suburban and rural areas.
Plenty of young buyers are already making the leap: Millennials are the largest cohort of home purchasers today, and they are mostly leaving urban spaces in favor of suburbia.
While Millennials report a desire for larger homes, their needs and budgets are small.
Many Baby Boomers bought their current homes in the 1980s and 1990s – just when the average size of American homes increased greatly.
While some observers lament the lack of housing stock for Millennials as a byproduct of older generations refusing to move on, the reality may be that the home that most Baby Boomers own is not the house Millennials can afford, use or, in many cases, even want.
For those retirees whose equity is concentrated in their homes and find themselves in need of making a move, due to changes in health, finances, or otherwise, a lack of eager Millennial families looking to snap up their suburban mid to larger size homes could become part of the bigger problem of our widespread unpreparedness for the costs of living in retirement.

The orginal article.