Baby boomers have a higher rate of homeownership than the national average and one out of four own more than one property, according to a new study of the largest generation in U.S. history commissioned by the National Association of Realtors(r). Initial results were released here today at NAR’s Midyear Legislative Meetings & Trade Expo. The comprehensive study of nearly 2,000 Americans born between 1946 and 1964, conducted for NAR by Harris Interactive(r), also shows boomers are optimistic about the future, but many are not adequately prepared for retirement. The Millionaire Real Estate Agent: It\'s Not About the Money...It\'s About Being the Best You Can Be!

Nearly eight in 10 boomers own their own homes and almost nine out of 10 have owned at some point in their lives; 96 percent believe owning a home is a good financial investment — evidenced by their actions. According to the U.S. Census Bureau, the overall rate of home ownership is 69 percent. For the portion of baby boomers who have never owned a home, 85 percent cited financial reasons but 38 percent simply didn’t want the responsibility of homeownership. One-quarter of respondents own one or more other kinds of real estate in addition to a primary residence: 13 percent own land, 8 percent own rental property, 7 percent a vacation home or seasonally occupied property, 2 percent commercial real estate and 3 percent some other kind of real estate.

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