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08

Baby Boomers Who Refuse to Sell Are Dominating the Housing Market

By Tony Seruga

Older Americans own half of houses, squeezing out youngsters
Why a 23-year-old is cruising city streets, knocking on doors

Jake Yanoviak is hunting for houses. On a weekday afternoon in North Philadelphia, the 23-year-old painter cruises along on his bike, its black paint obscured under stickers from breweries and rock bands. He turns onto a side street, where he spots a few elderly neighbors, standing on adjoining porches. He parks, leans on one handlebar and makes his pitch.

“Anybody on the block considering selling?” Yanoviak asks gently. “I’m not a developer, I’m not interested in renting to students. I’m just a kid trying to buy a house, fix it up and live in it.”…

Baby Boomers Who Refuse to Sell Are Dominating the Housing Market

Categories : Real Estate

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