Baby boomers express skepticism toward homeownership dream

A recent survey by Hometap reveals a paradox regarding the baby boomer generation and the American Dream of homeownership. Despite holding approximately half of the nation's home equity and benefiting from decades of property appreciation, baby boomers expressed the highest level of skepticism about the stability of homeownership. In the survey, 39.6% of boomers described the state of the homeownership dream as “eroding,” a sentiment more prevalent in this age group than in Millennials or Gen X, who characterized the dream as “evolving."

Only 13% of baby boomers reported that homeownership has “fully delivered” on its role as a cornerstone of the American Dream, the lowest percentage among all surveyed age groups.

This disillusionment coincides with broader economic discussions regarding generational wealth gaps. The top 10% of the baby boomer generation holds an estimated $55 trillion in assets, highlighting a significant concentration of wealth that impacts economic and social structures.