Baby boomers own homes, lots of them, with empty rooms, lots of them.
An article by Cameron Simons suggests that baby boomers and millennials might find common ground in the housing market. That is, in the extra rooms available in the homes of aging baby boomers. A new Trulia analysis analysis found evidence of 3.6 million unoccupied rooms in the nation's 100 largest housing markets. Then, Simons suggests the following.
For retired or soon-to-retire boomers, extra rooms are an opportunity to supplement income and offset cost-of-living increases – as much as an additional $14,000 a year. For many older Americans, renting a room provides an economic boost that may help them stay in a home longer.
For young adults, renting a room as opposed to a one-bedroom apartment could save them up to $24,000 annually.
FULL STORY: Boom-mates: How Empty Nesters Could Help Ease a Housing Shortage
U.S. Faces Historic Housing Shortages, With Roots in the Recession and Local Zoning Restrictions
The long-term effects of the Great Recession were timed very poorly for millions of Millennials aging into homebuying years. The pandemic and the traditional zoning preferences of communities aren't doing first-time homebuyers any favors.
Checking in With the Wild Pandemic-Era Housing Market
Bidding wars, TikToks, and disparate impacts—every day there's more evidence that the pandemic has only worsened the nation's housing affordability crisis.
Tough Market for Luxury Ranches? Blame Generational Differences
Ranches aren't the only segment of the luxury market having a hard time selling at asking price.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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