https://www.npr.org/2024/04/18/1244171720/baby-boomers-large-houses-millennials-homeownership
This is my mom in a nutshell. Her house is paid off and has reasonable property taxes. We looked at single level options. They are expensive to buy, higher taxes, and HOA fees. She has chosen to stay for now. Her house is a split level, so there will always be stairs to deal with.
Baby boomer empty nesters own twice as many of the country's three-bedroom-or-larger homes, compared with millennials with kids, according to a recent analysis from Redfin. That means those larger homes aren't hitting the market, one factor limiting the supply for the younger generations who could use those extra bedrooms.
Some baby boomers, the generation now between the ages of 60 and 78, are happy in their large homes, using the extra bedrooms for hobbies and visiting family. Others say they want to downsize, but it just doesn't make sense financially.