Boomers in St. Louis: 54% Plan to Stay in Their Homes Forever

Recent research from Clever Real Estate reveals that only 15% of baby boomer homeowners plan to sell their homes within the next five years, while a significant 54% intend to stay in their homes indefinitely. This study, conducted in St. Louis, highlights that 61% of boomers currently own homes, yet fewer than a third anticipate selling by the mid-2030s. The findings suggest a strong attachment to homeownership among this demographic, with 76% attributing their financial security to owning a home. Interestingly, while half of the respondents purchased their first homes for $75,000 or less, only 50% believe they could afford a home in today’s market. A notable 12% feel they face more challenges than other generations regarding homeownership. Despite these concerns, 42% of boomers think younger generations had an easier time buying homes in their 20s, indicating a generational divide in perceptions of housing affordability. Moreover, 57% of boomers believe that younger individuals could afford homes if they exerted more effort, and 69% think that fewer problems would arise if younger generations emulated their values. This perspective reflects a broader sentiment among boomers that they are not responsible for the current affordable housing crisis, with 41% asserting that they are the least culpable. Overall, the research underscores the complexities of the housing market and the differing views between generations regarding homeownership, financial security, and the challenges faced in today’s real estate landscape.