Millennials, the largest generation in US history, are rushing into cities in search of good jobs and opportunities. But many are finding upon their arrival a shortage of affordable housing options.
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Baby boomers have 3.6 million spare rooms that could help fix the millennial housing crisis
In the 25 biggest US housing markets, there are roughly 3.6 million unoccupied rooms in the homes of baby boomers. What if millennials rented them out?
Baby boomers have a collective 3.6 million spare rooms around the US, presenting a solution to the millennial housing crisis.
One solution: Shack up with local older folks.
As people 20 to 36 years old struggle to pay their rent and still come up with disposable income, real-estate company Trulia has found in a recent analysis a surplus of empty rooms in the homes of baby boomers — some 3.6 million rooms, according to Trulia's analysis.
If they decide to live together, this could present lucrative opportunities for both age groups.
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Housing experts have been observing the trend of boomer parents becoming empty-nesters for the past several years. Many have predicted there will soon come a "great senior sell-off," in which boomers who feel they have too much space will offload their real estate to millennials.
But the latest research shows millennials just aren't buying. According to Trulia's analysis, boomer homes in the top 25 markets have an average of 4.2 bedrooms but only 2.6 household members.
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