Baby boomers are holding onto their homes for several reasons. A significant portion, approximately 85%, show little interest in selling, driven by various factors. Many boomers have remodeled their homes to support aging in place, preferring the comfort and familiarity of their current residences over the uncertainties of moving . The financial implications also play a crucial role; owning their homes outright means there’s less incentive to downsize or move, especially when considering the high costs involved for potential buyers like millennials . Additionally, selling a home that has significantly appreciated in value could result in substantial capital gains tax bills, further discouraging boomers from selling their properties .
