Boomers Hold the Keys: What REALTORS® Need to Know About Today’s Housing Gridlock

A recent Financial Times op-ed by Meredith Whitney—dubbed the “Oracle of Wall Street”—offers REALTORS® a sobering lens on today’s inventory challenges. Whitney highlights that baby boomers now own over 54% of U.S. homes, with 79% of seniors owning their homes outright. This massive equity cushion is allowing them to stay put, even as costs rise.

Key Takeaways for REALTORS®:

• Inventory Freeze: Seniors are less inclined to downsize, and many are tapping into home equity lines of credit to cover expenses, keeping them rooted in place.

• Equity as Leverage: With three-fourths of senior homeowners mortgage-free, equity is becoming a financial tool—not a reason to sell.

• Market Implications: Whitney warns, “There will be no quick fixes.” Even if mortgage rates fall, existing home sales may remain sluggish¹.

• Generational Divide: Millennials and Gen Z face historic affordability barriers, with first-time buyer numbers hitting record lows.

What This Means for You: REALTORS® should prepare for a market shaped by aging-in-place trends and equity-driven financial strategies. Educating clients on reverse mortgages, equity access, and multigenerational buying may be key to unlocking opportunities in a tight inventory landscape.

Recent News on Boomers and Housing Trends:

• Boomers Aren’t Selling: A July 2025 survey from Clever Real Estate found that 61% of baby boomers say they “never” plan to sell their homes, up from 54% in 2024. Aging in place, paid-off mortgages, and plans to leave homes as inheritances are key reasons.

• Boomers Outbuy Millennials: According to NAR’s 2025 Generational Trends Report, baby boomers made up 42% of homebuyers, overtaking millennials. Many are buying homes entirely with cash, leveraging equity from long-held properties.

• Senior Living Development Lag: Industry leaders warn of a 595,000-unit shortfall in senior housing by 2030, driven by high construction costs and cautious capital investment. New designs are increasingly tailored to boomers’ preferences for wellness, social spaces, and upscale amenities.

These stories underscore how boomers’ choices—whether holding, selling, or purchasing property—are shaping the housing landscape. To help members respond effectively, your local REALTOR® association offers expert insights, advocacy, and resources tailored to today’s shifting market.