Baby Boomers are getting ready to pass on $17 trillion in home equity [USA TODAY]
Federal Home Loan Mortgage Corporation (FMCC)
NASDAQ:AMEX Investor Relations:
freddiemac.com/investors
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Source: USA TODAY
The report , released Thursday by mortgage guarantor Freddie Mac, is a reminder of the spending power of the mighty post-war generation. As of 2024, there were 65 million Baby Boomers, defined as Americans born between 1946 and 1964. They account for 20% of the U.S. population, and 36% of total homeowner households. As they age – and pass on – the ensuing “Silver Tsunami” is likely to bequeath what Freddie analysts are calling a “Wave of Wealth” for their children and other heirs. Among the report's findings: Boomers hold half of the nation's home equity, amounting to $17.3 trillion, according to Federal Reserve data. In a survey Freddie conducted earlier this year, 75% of respondents said they plan to leave either their home or the proceeds of the sale of their home to their children or family. Only 9% intend to use their home equity to fund their retirement. See the best mortgage lenders Homeowners are far more likely to have confidence in a comfortable retirement than re
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FMCC
Analyst Actions
- 11/20/24 - Keefe, Bruyette & Woods
FMCC
Sec Filings
- 11/25/24 - Form ABS-15G
- 11/21/24 - Form ABS-15G
- 11/6/24 - Form ABS-15G/A
- FMCC's page on the SEC website