Pathetic reporting. If there are “smaller homes” available for boomers to downsize to, then let the millenials buy those homes. They need starter homes, not mcmansions. They don’t have kids much anyway so they don’t need the larger homes. Secondly, other reports show something like 30% of grown children are still living with their parents so the “empty nest” idea is for many boomers a fiction.
Bottom line, the market is working, just not the way some would-be social engineers want it to. Tough.
“If there are ‘smaller homes’ available for boomers to downsize to, then let the millenials buy those homes. They need starter homes, not mcmansions.”
100% logical.