Time to downsize? Not for baby boomers

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Time to downsize? Not for baby boomers

Mary Umberger
On Real Estate
11:32 a.m. CDT, July 6, 2014

Not ready to downsizeThe baby boomer who’s itching to ditch the responsibility of a single-family home and move into an apartment – now, there’s a relatively rare bird.

That may be something of a surprise, given the media reports and demographic prognostications that have painted an impression of a stampede of downsizing boomers into apartments, condos and town houses. But that’s just not happening — yet, according to Fannie Mae researcher Patrick Simmons.

In an edited interview, the director of strategic planning for Fannie Mae’s economics group said that though such a wholesale change probably is inevitable, boomers these days show little inclination to leave the single-family home lifestyle that, to an extent, has defined their generation:

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