September 11, 2019

Millennials vs. Baby Boomers: The Great Housing Market Debate



An ever-evolving housing market is something everyone in the real estate industry can expect and agree on. Lately, however, there’s a debate surrounding the current buyer-seller stalemate, for lack of a better phrase, and who, exactly, is to blame. Is it those pesky millennials? Or, perhaps, the baby boomers?

The National Association of REALTORS® defines millennials and baby boomers in their 2019 Home Buyers and Sellers Generational Trends Report as follows:
 
  • Older millennials were born between 1980 and 1989
  • Younger millennials were born between 1990 and 1998
  • Older baby boomers were born between 1946 and 1954
  • Younger baby boomers were born between 1955 and 1964
Each side agrees on one thing: The housing market is changing. The debate centers around which generation is to blame for the negative experience many are having with the buying and/or selling process. On one side, millennials apparently aren’t buying homes. What gives? On the other side, baby boomers apparently don’t want to sell their homes. Huh?

Let’s dive into the details and act as referee.