While the number of Baby Boomers that rent is small, it is a number that is expected to continue to grow with the 77 million people born between 1946-1964 looking to find easy living. Chicago Tribune staffer Gail Marks-Jarvis reports on the trend of boomer renting, which is in part motivated by them not wanting their retirement money tied up in a house.
While the trend is observable, it is likely more a product of demographics than desire:
Still, most boomers are not regarding housing much differently than the generation before them, said Lawrence Yun, economist for the National Association of Realtors. The number of boomers renting is impressive simply because the generation is large, but there does not seem to be an increase in the percentage renting compared with the previous generation as they entered retirement, he said.