B
aby boomers have accumulated a staggering $19 trillion in housing wealth, accounting for nearly 40% of all real estate assets in the US. This is more than any other demographic group, and it's unclear if this wealth will trickle down to younger generations. According to Realtor.com, boomers now control more home equity than Gen X, millennials, or Gen Z.

    The report highlights that boomers have benefited significantly from rising home prices since the start of the pandemic. They not only accounted for the largest share of sellers last year but also overtook millennials as the biggest group of buyers. As a result, they now own a significant portion of real estate assets in popular retirement destinations like Florida.

    In fact, five of the top 10 cities where retirees hold the most wealth are in Florida, with North Port, Naples, and Cape Coral being among them. Retirees in these areas own an estimated $310 billion in housing wealth combined. The report attributes this to desirable factors such as warm weather and no state income tax.

    However, it's uncertain how much of this wealth will be passed on to younger generations. Realtor.com researchers estimate that nearly 12,000 people will turn 65 each day for the next two years, but a survey by Charles Schwab found that only 21% of boomer respondents want to share their wealth with the next generation while they're still alive. Economists have also questioned the likelihood of a great wealth transfer from older generations, suggesting that many boomers will choose to hold on to their wealth.