According the CAR (California Association of Realtors®), homeownership among baby boomers is more likely than millenials. With the added debt of student loans, it is harder for millienials to save money and invest in buying a home opposed to baby boomers who have become established in their careers and even retired.
More than half the percentage of baby boomers are worried about their children’s ability to buy a home and some are even willing to help them attain the goal of homeownership.
In retrospect, baby boomers would ultimately focus on their finances by saving more and making better investments, something that millennials can learn from. It is easier said than done with the looming debts of education weighing over their heads but according to the NAR (National Association of Realtors®), “30% of millenials plan on buying a home in 5 years.”
