More Boomers Ditching the Memo on Downsizing

Retirement was long pitched as the moment you trade the four-bedroom family home for a tidy condo. But the Wall Street Journal reports that a growing number of affluent baby boomers are doing the opposite—buying or building bigger places designed to host kids, grandkids, and even elderly parents, while also letting the boomers themselves age in place. National Association of Realtors data show the share of buyers ages 61 to 70 who say "more space" is their main motive nearly doubled from 2016 to 2024. Redfin estimates empty-nest boomers now hold more than a quarter of all homes with three or more bedrooms, far outpacing millennial families.

"We'll downsize when they plant me 6 feet into the ground," 64-year-old Victor Martino tells the newspaper's Rachel Louise Ensign. He and his wife just bought a 5,000-square-foot home that is more than double the size of the home where they raised their two daughters. Generally speaking, this cohort's financial edge—boomers and older Americans control roughly $110 trillion in wealth—lets them pay cash, add guesthouses, and commission upscale "forever home" renovations with accessibility features tucked into luxury finishes. Financial planners say the old model of downsizing is being replaced by post-retirement splurges that can require working longer. Read the full story.