Owning a home has long been touted as a way to build wealth, but does it actually pay off? Baby boomers are counting on it. Many have lived in their homes for decades and now expect six-figure profits when they sell, according to a new survey by Clever Offers.
Staying in their homes for so long means boomers can take advantage of home values that have risen dramatically over the last two decades. However, this is precisely why they tend to be blamed for the affordability crisis younger buyers are facing.
“For every home they do not sell, that’s one less opportunity for young buyers, who are already facing a national shortage of over 4 million homes,” said Alexei Morgado, a Florida realtor and CEO and founder of Lexawise . “This also creates a delay in residential mobility and leaves