{"id":6677,"date":"2014-07-16T12:48:41","date_gmt":"2014-07-16T12:48:41","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=6677"},"modified":"2014-07-16T12:49:07","modified_gmt":"2014-07-16T12:49:07","slug":"baby-boomers-arent-downsizing-yet","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/baby-boomers-arent-downsizing-yet\/","title":{"rendered":"Baby Boomers Aren\u2019t Downsizing Yet"},"content":{"rendered":"

Baby Boomers Aren\u2019t Downsizing Yet<\/h2>\n
\"Baby<\/a>

Baby Boomers Aren\u2019t Downsizing Yet. Image courtesy of artur84 \/ FreeDigitalPhotos.net<\/p><\/div>\n

Baby boomers aren’t showing any signs of leaving the single-family home market that has defined their generation’s real estate habits, despite many predictions that they would by now. As boomers hit age 65 and become empty nesters, many housing analysts forecasted that a huge wave of them would downsize and move into an apartment, condo, or townhouse.<\/p>\n

But Fannie Mae researcher Patrick Simmons says that isn’t happening yet.<\/p>\n

“There’s a perception, particularly in many media reports, that this massive generation born between 1946 and 1964 is altering its housing consumption,” Simmons, the director of strategic planning for Fannie Mae\u2019s economic group, told the Chicago Tribune. “It’s true that they’re becoming empty nesters in droves. But by one measure, the proportion of boomers who live in single-family homes actually increased between 2006 and 2012.”<\/p>\n

Baby boomers’ mobility has gone down. Nine out of 10 boomers surveyed by AARP reported that they wanted to stay in their current home as long as possible. Some may be motivated to stay put because of the housing crisis. For boomers, the value of single-family homes they owned fell by an average of 13 percent. Some boomers could still be underwater and are waiting to recoup more on their house before they sell. Others may be holding on to their home because they snagged a record low mortgage rate<\/a> in recent years, and they know borrowing won’t be any cheaper if they do decide to sell.<\/p>\n

Some baby boomers are downsizing but choosing to stay in smaller single-family homes rather than move to a condo or town home.<\/p>\n

But “eventually, boomers will slow down with age and have the same physical frailties that their predecessors had,” Simmons told the Tribune. “My sense is that it’s not going to be a major shift \u2014 something we see in the numbers in a year. It will likely unfold over a decade or more.”<\/p>\n

Source: \u201cTime to Downsize? Not for Baby Boomers<\/a>,\u201d Chicago Tribune (July 6, 2014)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Baby Boomers Aren\u2019t Downsizing Yet Baby boomers aren’t showing any signs of leaving the single-family home market that has defined their generation’s real estate habits, despite many predictions that they would by now. As boomers hit age 65 and become empty nesters, many housing analysts forecasted that a huge wave of them would downsize and … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-6677","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nBaby Boomers Aren\u2019t Downsizing Yet - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/baby-boomers-arent-downsizing-yet\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/baby-boomers-arent-downsizing-yet\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/baby-boomers-arent-downsizing-yet\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Baby Boomers Aren\u2019t Downsizing Yet\",\"datePublished\":\"2014-07-16T12:48:41+00:00\",\"dateModified\":\"2014-07-16T12:49:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/baby-boomers-arent-downsizing-yet\\\/\"},\"wordCount\":358,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/baby-boomers-arent-downsizing-yet\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/07\\\/ID-100152029.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/baby-boomers-arent-downsizing-yet\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/baby-boomers-arent-downsizing-yet\\\/\",\"name\":\"Baby Boomers Aren\u2019t Downsizing Yet - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/baby-boomers-arent-downsizing-yet\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/baby-boomers-arent-downsizing-yet\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/07\\\/ID-100152029.jpg\",\"datePublished\":\"2014-07-16T12:48:41+00:00\",\"dateModified\":\"2014-07-16T12:49:07+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/baby-boomers-arent-downsizing-yet\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/baby-boomers-arent-downsizing-yet\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/baby-boomers-arent-downsizing-yet\\\/#primaryimage\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/07\\\/ID-100152029.jpg\",\"contentUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/07\\\/ID-100152029.jpg\",\"width\":400,\"height\":243,\"caption\":\"Baby Boomers Aren\u2019t Downsizing Yet. 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