This study aims to compare and contrast the baby-boomer generation with other generations in order to discuss the changes in housing and the impact it creates on the housing market following their retirement.
For this discussion, the financial characteristics of the baby-boomer generation, such as their property and their income and spendings, are studied, followed by the study of the generation's residential characteristics, such as type of housing, form of occupation, size of housing, and moving patterns. As a result of the analysis, the overall property of the baby-boomer generation is shown as an average of 280.5million KRW, with an approximate debt of 90.2million KRW. The average monthly income of the baby-boomer generation is 3.442million KRW, with 3.249million KRW as earned income. The most popular type of housing is an apartment (50.5%). The form of occupation was around 6 owned against 4 rented, and chartered housing is around 18.5% of the rented type. The generation mostly dwell in smaller housing under 60㎡. The baby-boomer generation has had the most impact on, and has led our social economy. The society is reaching a turning point through the ageing of this generation followed by their retirement, and this is due to have various impacts on the housing market as well. Their housing demands and needs are especially most likely to rise in various patterns depending on their income, level of property owned, and their lifestyle, rather than to form a linear demand. This could introduce needs to dwell in their current dwelling while utilizing their property, or needs to move to housing that fulfills their new lifestyle. Therefore, policies also need be tailored to encompass the various housing needs of the baby-boomer generation.