Boomers Bank On Big Houses, Millennials Pay Rent and Therapy
According to Nobel hopeful Edward Wolff from NYU, Americans 75+ have been quietly stockpiling wealth like squirrels hoarding acorns since 1983. Thanks to a 7% bump in homeownership, soaring property prices, and a stock market that seems to prefer boomers over the under-35 crew, the senior set now flaunts double the three-bedroom homes compared to millennials with kids. Meanwhile, youngsters clutch tighter mortgages and fewer stocksâlike the unluckiest Monopoly players forced to mortgage Baltic Avenue. Yet, not every boomer's swimming in gold; with 30% spending over a third of their income on housing, some elders are just as âcost-burdenedâ as millennials trying to survive on avocado toast and Ramen noodles.
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Congrats Boomers: While under-35s drown in mortgage debt on tiny nests, the 75+ crowd is playing the adult version of Monopoly with stock portfolios and McMansions. Meanwhile, millennials are stuck paying top dollar to live in *someone elseâs* dream house.
Apparently, baby boomers missing out on minimal home sales isnât a bug, itâs a feature. They hoard three-bedroom homes like theyâre Beanie Babies and let millennials pay top dollar for studio cubicles.
Might as well rename America âBoomeronia,â where 75+ means owning twice the houses of millennials combined, who mortgage every penny just to signal they exist on Instagram.
Source: Businessinsider | Published: 9/2/2025 | Author: Eliza Relman
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