An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How servicers can access timely, accurate data insights

Learn how to navigate the challenges in today’s market – for example, the need for ongoing, on-demand access to near-real-time data and the ability to access those data insights in a timely and accurate manner.

Steve Murray on new brokerage models, CFPB crackdowns

Today’s HousingWire Daily features a discussion on the emergence of a new brokerage model and the validity behind the concerns against institutional investors.

Real EstateMortgage

Freddie Mac: Seniors are causing the housing shortage

More seniors are aging in place, and they're keeping 1.6 million homes off the market

More seniors are opting to age in place rather than relocate later in life, and it has contributed to the supply shortage that’s hampering the housing market.

According to a study by Freddie Mac, seniors born after 1931 are staying in their homes longer than previous generations, and they are gumming up the works, leaving Millennials shut out of the market.

The study revealed that seniors held 1.6 million houses back from the market in 2018 – responsible for a significant portion of the 2.5 million shortage in housing units that has impacted the market.

According to the study, seniors born between 1931 and 1941 have prevented 1.1 million homes from hitting the market, while those born between 1942 and 1947 have held onto 300,000 homes.

Baby Boomers, born between 1948 and 1958, are still occupying 250,000 homes, but a pending wave of retirees among this generation is likely to alter this figure.

This trend toward aging in place – furthered by better health and higher education among the older generation – is likely to increase over time as technology and health care make it easier for the elderly to stay at home.

“The amount of homes retained by seniors is likely to grow as both the number of seniors increases and the barriers to staying in place are reduced,” the study concluded. “This highlights the importance of addressing barriers to the production of new housing supply to accommodate long-term housing demand.”

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3d rendering of a row of luxury townhouses along a street

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