According to recent surveys conducted by Freddie Mac, a large amount of Baby Boomers and those over 55 years of age are making plans to relocate to rentals in the next few year. Over 5 million people stated they will most likely rent by 2020. This huge move of so many people will probably affect housing costs.
“When a population this large expects to move into less expensive rental housing, we have to expect it will create significant new pressure on both the supply and cost of existing affordable rental housing,” says David Brickman, executive vice president of Freddie Mac Multifamily.
I’m interested to hear what your future plans are! I put together a quick multiple-choice survey and would love to hear from you.
For more on the Baby Boomer Sell-Off, http://realtormag.realtor.org/daily-news/2016/06/29/get-ready-for-baby-boomer-sell?om_rid=AAT-f0&om_mid=_BXdARuB9PMCl01&om_ntype=RMODaily&om_rid=AADLJb&om_mid=_BXjqZoB9QAyY$0&om_ntype=SRESMonthly#sf29938537