By AZ Business Magazine | Via AZBigMedia
Millions of American homes could become unsellable – or could be sold at significant losses to their senior-citizen owners – between now and 2040, according to new research from the University of Arizona.
The study predicts that many baby boomers and members of Generation X will struggle to sell their homes as they become empty nesters and singles. The problem is that millions of millennials and members of Generation Z may not be able to afford those homes, or they may not want them, opting for smaller homes in walkable communities instead of distant suburbs.
Baby boomers are people born between 1946 and 1964, while Gen Xers were born between 1965 and 1980. Millennials were born between 1981 and 1997 and Gen Zers between 1998 and 2015.