Senior Spotlight: Baby Boomer Housing Wealth Nears $19 Trillion
Two California cities hold top wealth in the nation!
A recently published report from
Realtor.com® reveals that Baby Boomers now hold nearly half of the country’s real estate wealth. On a generation level, that breakdown means that Baby Boomers have about $19.51 trillion in real estate assets, while Gen X has $14 trillion, Millennials have $9.9 trillion, and the Silent Generation has $4.3 trillion. But regionally where is the wealth concentrated? Check out the map below!
As you can see, just 5 states hold the highest amounts of real estate wealth – Florida, California, Massachusetts, Arizona and Hawaii. Florida has 5 of the top 10 equity rich markets, while California has 2. Are you surprised that Santa Rosa and San Luis Obispo hold the top spots in our state? Here is why according to experts:
Santa Rosa-Petaluma
The estimated real estate value held by homeowners aged 65 and up is $54 billion, and those in that age group make-up for 47% of the population. As a city that is described as ‘geared for retirees,’ Santa Rosa offers a median home price of $995,000 and great access to nature with mild weather for active older adults.
San Luis Obispo
The estimated real estate value held by homeowners aged 65 and up is $31 billion, and those in that age group account for 49.8% of the population. This city has been called one the best places to retire in California due to the pleasant climate, access to medical care and recreational opportunities. Nearby Paso Robles has been named the ‘Best Small Town for Retirement’ by World Atlas.
We hope that this new Senior Spotlight has provided a glimpse into not just how much real estate wealth Baby Boomers hold – but also where and even why. Knowledge is perspective… and we promise to keep it coming your way!
All our best,
Bobbi
Bobbi Decker
DRE#00607999
Broker Associate
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
NAR Instructor….“Designations Create Distinctions”
CIPS, SRS, ABR, CRS, SRES, GRI, CLHMS, REI, AHWD, RSPS, MSLG
Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/
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