Baby-Boomers Retire Early Thanks to Soaring Housing Prices
New research suggests that the "Great Resignation" phenomenon, where workers quit their jobs in large numbers, can be attributed to the pandemic housing boom. The study found that older homeowners, who experienced a 10 percent increase in home prices in 2021, were less likely to work compared to those in cities with stable prices. This trend was not observed among renters or middle-aged homeowners. The researchers argue that the surge in housing prices allowed older workers to retire early by selling their homes at high prices, while younger generations face challenges in homeownership and higher rents.