Baby Boomers

Curbed: Baby Boomers Are Positioned to Change the Housing Market

Move over millennials. As more Americans age, they’re expected to shift the traditional older adult housing dynamic.

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Millennials are often credited for being the root of every change within the housing and real estate industries. But there’s another generation that’s leaving a mark of its own: baby boomers.

Baby boomers are aging at a rapid rate. According to a report from the Harvard Joint Center for Housing Studies that’s cited by Curbed, the number of Americans over the age of 80 will double from six million to 12 million in the next two decades. And by 2035, one third of U.S. households will be led by someone over the age of 65. That means that more seniors will be entering the housing market in the near future, unless they’re able to stay in their homes.

Jennifer Molinsky, a senior research assistant at the Harvard Joint Center for Housing Studies, told Curbed in an interview, “I think as the older baby boomers approach 80, we’ll start seeing much more conversation about senior housing. The issues raised in the report become much more salient after 80, since the disability rates start to rise sharply, and the need for care in the home starts to rise sharply.”

The senior housing market is shifting. And as more and more Americans decide to maintain their independence as they age instead of moving into traditional retirement homes, the real estate industry will be forced to adjust.

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