Empty Nesters

The generational real estate showdown is still underway, and the latest battleground is large homes. A new report from Redfin found that Baby Boomers with empty nests own 28% of the nation’s large homes, while Millennials with kids own just 14%.  This a huge turnaround in the last ten years, as a decade ago, younger adults with children were just as likely to own large homes as their parents. Redfin defined “empty nesters” as households headed by Baby Boomers that report only 1-2 adults living in the home, and based on the number of bedrooms, with three or more being considered large. Part of the problem is the current state of the housing market. Many Baby Boomers own their homes…