![\"bar\"](\"https:\/\/theamericangenius.com\/wp-content\/uploads\/2017\/02\/bar.jpg\")
\nWhile this generation doesn\u2019t have the dollars to live the high life, they often made choices, for example, downsizing to newer homes, which made them a significant force in the market. Ignoring them will be a mistake.<\/p>\n
Home buying<\/h2>\n
The Silent Generation, people born between 1925 and 1945, only account for 8% of all homebuyers in 2016, the smallest share by generation.<\/p>\n
This should not come as a surprise if you also consider that they are the generation with the lowest median household income at $66,600, likely living off their retirement funds.<\/p><\/blockquote>\n
Consequently, when they do buy homes, it is usually in the second lowest median home price bracket, at $220,000. They are also most likely to buy a home in senior-related housing at 24 percent.<\/p>\n
The reasons seem to be self explanatory\u2014at median age of 75, these buyers aged between 71 to 91 years tend to have the smallest families.<\/p><\/blockquote>\n
They hardly share space with dependents, like children\u2014only about 3% have children under 18 living with them.<\/p>\n
Somewhat surprisingly, in 2016 the Silent generation made the highest share (21%) to buy the newest homes, with a median house age of 1999.<\/p>\n
Type of houses<\/h2>\n
The data also reveals two related extremes. On one hand, this generation accounts for highest share of single male buyers at 10%, perhaps due to divorce or death of a partner; on the other, at 91%, they make up almost all of the housing economy who are likely to move from an already owned home, due to downsizing.<\/p>\n
Correspondingly, the Silent Generation also forms the smallest share of first-time homebuyers at 4%.<\/p><\/blockquote>\n
As a consequence, the reason for buying a multi-generational home within this generation is negligent\u2014a share of only 11%, mostly to take care of someone ailing. Much more likely, the data reveals, these buyers purchase the highest share of a duplex, apartment, or condominium (17%) and townhouse (9%).<\/p>\n
The data also clearly reveals that while the Silent Generation forms the highest percentage of homeowners who\u2019d choose a neighborhood home with proximity to shopping (39 percent)<\/p><\/blockquote>\n
They are also the highest share among generations to purchase a smaller home and to be closer to friends and family (both at 23%).<\/p>\n
Interestingly enough, the Silent Generation is in tandem with the Millennials, for the shortest expected tenure in the home with a median of 10 years, admittedly for very different reasons.<\/p>\n
Least likely<\/h2>\n
As already established, the Silent Generation is not exactly the upgrading type. They are the generation that is most likely to move due to a household member\u2019s health and least likely to move for a nicer home.<\/p>\n
#silentgeneration<\/h3>\n","protected":false},"excerpt":{"rendered":"
(HOMEOWNERSHIP) The Silent Generation are market shakers, it’d be unwise to ignore them.<\/p>\n","protected":false},"author":337694,"featured_media":1781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":0,"footnotes":"","jetpack_post_was_ever_published":false,"_links_to":"","_links_to_target":""},"categories":[602],"tags":[741,1234,1526],"class_list":["post-11186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homeownership","tag-data","tag-real-estate-news","tag-silent-generation"],"jetpack_featured_media_url":"https:\/\/theamericangenius.com\/housing\/wp-content\/uploads\/sites\/2\/2014\/04\/pending-home-sales.jpg","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/11186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/users\/337694"}],"replies":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/comments?post=11186"}],"version-history":[{"count":4,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/11186\/revisions"}],"predecessor-version":[{"id":11188,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/posts\/11186\/revisions\/11188"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media\/1781"}],"wp:attachment":[{"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/media?parent=11186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/categories?post=11186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theamericangenius.com\/housing\/wp-json\/wp\/v2\/tags?post=11186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}