The concept of aging in place, already growing in popularity before the pandemic, has found renewed interest among baby boomers, some of whom are now wary of nursing homes, where at least one third of U.S. Covid-19 deaths have occurred. The trend is intensifying pandemic home-inventory shortages and price increases, frustrating younger buyers who want to grab their share of real estate wealth.

The bulk of real estate wealth was long held by baby boomers’ predecessors, the Silent Generation (those born before 1946), but they generally followed the familiar pattern of selling later in life and moving in with extended family, to assisted-living facilities or nursing homes. Aging-in-place boomers are disrupting this trend. This week’s chart, using Federal Reserve data, shows that boomers surpassed the Silent Generation in real estate wealth in 2001, and have yet to yield that position.

So where does that leave the next generation in…

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