A survey conducted by Freddie Mac found that 68 percent of Baby Boomer homeowners expressed confidence in having a comfortable retirement, regardless of race. This is down from similar surveys conducted in 2016 (76 percent) and 2021 (81 percent).
By the numbers: Total household net worth increased by $44 trillion, or $332,000 per household, since the pandemic (Q4 2019 to Q2 2024). Of that, Boomer wealth increased by $19 trillion, or $486,000 per household, half of which is due to house price appreciation.
- As in 2016 (66 percent) and 2021 (69 percent), Baby Boomer homeowners again feel confident they would remain in their current homes, with 68 percent of respondents indicating they either plan to age in place or do not have plans to move again.
- Half of Boomer homeowners surveyed own their home outright and 53 percent of those still paying off a mortgage have an interest rate below four percent.
- Regardless of race or gender, 75 percent of surveyed Boomer homeowners are planning to leave their home or the proceeds from the sale to their children or family.
