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Baby boomers are setting up a showdown with millennials, aging in place and plunking down hundreds of thousands on renovating their homes
Millennials need homes, but because of high home prices and mortgage rates, baby boomers have little reason to sell.
The housing world is a bit of a generational war zone, mostly between baby boomers and millennials. Baby boomers make up more than one-third of all homeowners, and more than half don’t even have a mortgage, Eric Finnigan, vice president of demographics for John Burns Research and Consulting, previously told Fortune—a figure that is still true today. So in our current environment, where mortgage rates skyrocketed from historic lows throughout the pandemic to a more…
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