Before the pandemic, the idea of aging in place was becoming more popular. Some baby boomers are now wary of nursing homes, where at least one-third of U.S. Covid-19 deaths have occurred, so they are interested in aging in place. The trend is making home shortages and prices even worse for younger buyers who want to get a piece of the real estate wealth.
The Silent Generation (born before 1946) had long owned the majority of real estate wealth, but they sold later in life and moved in with extended family, or to an assisted-living community. Baby Boomers living in their homes are bucking the trend. A study from the Federal Reserve data shows that boomers surpassed the Silent Generation in real estate wealth in 2001 and have yet to relinquish it.
Despite their fears, baby boomers built wealth by investing in the stock market and purchasing real estate. They benefited from the 1980s bull market, which saw share prices soar and trading volume soar as more buyers entered the market.
Joining me in conversation is Joe Anfuso, CFO MG Properties, who will share insights into the efforts of owning and operating over $7 billion valued multifamily real estate.
Joe Anfuso is a proven and nationally recognized Financial, Operational, and Customer-Centric leader experienced in single and multifamily residential development in California and Nevada. As the CFO of MG Properties Group, Joe is responsible for directing the financial and fiscal management of the company’s operations, including budgeting, treasury, tax, accounting, information technology, risk management, and insurance.
Visit Joe on LinkedIn: https://www.linkedin.com/in/joseph-c-anfuso-1a734716/