Baby boomers now make up the largest group of home buyers, locking out younger people with all-cash offers and bigger down payments.

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With decades of savings from low mortgage rates, boomers have overtaken Millennials, Gen X, and Gen Z in home purchases.

Millennials (ages 29 to 44) now make up just 29 percent of buyers — down from 38 percent a year ago. Gen X buyers remain steady at 24 percent, while Gen Z account for three in every 100 home purchases.

Overall, the combined share of younger boomers (ages 60–69) and older boomers (ages 70–78) rose to 42 percent of all home buyers in the past year, according to a report by the National Association of Realtors.

‘In a plot twist, baby boomers have overtaken millennials – the largest U.S. population – to become the top generation of home buyers,’ said Jessica Lautz, NAR deputy chief economist and vice president of research.

‘What’s striking is that boomers are purchasing homes entirely with cash, bypassing financing altogether.’

(http://www.autoadmit.com/thread.php?thread_id=5703712&forum_id=2#48806790)

There is nothing "sneaky" about scrimping and saving for decades so you can pay cash little children.

Chris UK_Canada_USA, Sarasota , United States, 1 hour ago

Baby boomers worked hard and saved not spending every dollar they had or could borrow like younger generations on so called experiences. .

GunnyHighwayUSMC, Parkville, United States, 33 minutes ago

The reason the Boomers have cash is that they haven't wasted thousands and thousands of dollars during their lives buying lattes and avocado toast.

(http://www.autoadmit.com/thread.php?thread_id=5703712&forum_id=2#48806828)

So Boomers have been working longer, and accumulating more wealth due to their age and saving habits, while younger people spend on Netflix/Hulu/AppleTV/Spotify subscriptions, daily Starbucks lattes, DoorDash deliveries, and expensive foreign vacations. This greater wealth provides higher purchasing power. I fail to see how this is a "sneaky trick" or "controversial".

(http://www.autoadmit.com/thread.php?thread_id=5703712&forum_id=2#48806907)

he was a scumprole but i think he would have done the same thing even if he had a bunch of money. in fact, we he did have windfalls, that's exactly what he did.

(http://www.autoadmit.com/thread.php?thread_id=5703712&forum_id=2#48806911)

Boomers We're just so evil. Imagine keeping the money we earned. What's wrong with us?

(http://www.autoadmit.com/thread.php?thread_id=5703712&forum_id=2#48806934)

@BartonBella1

Why? They're old and lived thru 2 world wars, the Spanish flu 3 times, the depression and the dustbowl. Maybe they just chose to enjoy life because they know death happens. What makes anyone entitled to what someone else earned and built

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unreal

(http://www.autoadmit.com/thread.php?thread_id=5703712&forum_id=2#48807827)

no, they're reverse mortgaging them so when they die, the homes will be gobbled up by banks and sold to private equity, which will turn them into overpriced and ill-maintained rental units

(http://www.autoadmit.com/thread.php?thread_id=5703712&forum_id=2#48807837)

holy shit lol that is an insane drop. was expecting the usual sensationalist dailymail slop

(http://www.autoadmit.com/thread.php?thread_id=5703712&forum_id=2#48807893)

Houses are literally 3X more expensive than they were a couple of years ago if you're going to finance. Of course people who work for a living can't afford that.

(http://www.autoadmit.com/thread.php?thread_id=5703712&forum_id=2#48809249)