Freddie Mac: Seniors are causing the housing shortage
Freddie Mac | February 06, 2019
More seniors are opting to age in place rather than relocate later in life, and it has contributed to the supply shortage that’s hampering the housing market. According to a study by Freddie Mac, seniors born after 1931 are staying in their homes longer than previous generations, and they are gumming up the works, leaving Millennials shut out of the market. The study revealed that seniors held 1.6 million houses back from the market in 2018 responsible for a significant portion of the 2.5 million shortage in housing units that has impacted the market.