Friday Facts – True or Not?

FRIDAY FACTS
July 17, 2015

 TRUE OR NOT?

 

From an article by Diana Olick of CNBC: Wealthier Boomers Shun Homeownership 

  • Renter growth is now at its highest level in 30 years. The age demographic 45-64 accounted for two times the share of growth as those under age 35.
  • Households in top half of income, although more likely to own, represent 43% of renter growth.

From an article in Realtor Magazine: Downsizing Boomers to Fuel Apartment Market

  • Millennials may be a big driver of multi-family housing now, but boomers looking to downsize are expected to drive apartment growth over the next few years.
  • Downsizing typically occurs around age 70 and becomes prominent by age 75.
  • Older adults tend to want more space and amenities than Millennials.
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