US boomers house-rich,retirement-poor, survey says
WASHINGTON, May 18 (Reuters) – Eight in 10 U.S. baby boomers own a home and one-quarter have more than one property, an industry group said on Thursday, warning the huge generation is still ill-equipped for retirement.
Nearly two-thirds of baby boomers surveyed by the National Association of Realtors said the cost of living was too high to fully retire. One-third believe they will alternate between leisure and labor — working full or part-time or starting a business.
According to NAR’s survey of nearly 2,000 Americans born between 1946 and 1964, the economically influential group can be a tough target for marketers.
“As a group, boomers are in their peak earning years and continue to wield great influence in the U.S. economy, but … there are significant variances in needs, behavior, attitudes and resources,” said NAR chief economist David Lereah.