Boomers see their homes as the key to a secure financial future

Baby boomers tend to view their homes as more than roofs over their heads in retirement. Many view their real estate as the key to their financial future, with home equity lines turning houses into ATMs. 

After years of inflation, a survey by Clever Offers, a real estate site, found that 68% of boomers anticipate making at least $100,000 in profit when they sell, and one in ten believe they’ll net half a million dollars or more.

That optimism might not be unfounded. Many boomers bought their homes decades ago for a fraction of today’s prices. Nearly 70% of those surveyed paid less than $100,000 for their first home, and 98% bought for under $400,000. Now, with the median U.S. sale price over $400,000, long-time owners have seen explosive growth in their equity. 

A lot of that equity was created during the COVID-19 pandemic, when home values rose much faster than the rate of inflation. In January 2020, the median sales price of an existing single-family home in the U.S. was $268,600, according to the National Association of Realtors. 

In January 2025, the median existing-home price had risen to $396,900, an increase of 48% over five years.

For many boomers, the payoff surpasses career earnings. Sixty-two percent say they’ve gained more wealth from their homes than from their jobs.

Generational tensions

This wealth-building, however, comes with a generational divide. Younger buyers face stiff headwinds: limited housing supply, rising prices, and stagnant wages. Every home boomers hold onto is “one less opportunity for young buyers” in a market already short millions of units.

Still, 76% of boomers reject blame for today’s housing crisis. Many point instead to systemic challenges, such as zoning restrictions, construction costs, underbuilding, and the COVID-19 shock, as the real culprits.

At the same time, the survey found that many boomers favor policies that could make it harder for younger families to buy. Nearly 60% would vote for candidates prioritizing home value protection, even at the expense of affordability. 

At the same time, 65% of all boomers, owners and renters alike, say governments should do more to help first-time buyers, reflecting mixed views within the generation.

What’s next?

If older Americans continue to stay put, the so-called “silver tsunami” of housing turnover may never come. Only 10% plan to sell within five years, while 61% expect to remain in their homes for life. 

That’s pushing the average age of first-time buyers higher than ever – now 38, compared to the late 20s when the youngest boomers entered the market.

Boomers also own more than a quarter of the country’s large homes, locking up family-sized housing stock. Experts warn this trend could lead to an era when homeownership is increasingly inherited rather than earned.