Source: Fox Business —
Baby boomers and millennials are part of a “triple threat” driving up prices in the housing market, according to the founder and executive of America’s largest owner of single-family homes.
“There’s a huge amount of inventory stuck in baby boomers,” Pretium CEO Don Mullen told FOX Business’ Maria Bartiromo on “Mornings with Maria” Wednesday.
“And as a result,” he added, “the combination of the bulge of millennials coming through the system, people choosing to age in place, even more so because of COVID, and pulling forward of demand… on top of low construction for a decade, is forcing all prices up and will continue.”
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