Owning a home has long been considered a surefire riches builder, and recent research confirms just how lucky Baby Boomers have had it when it comes to homeownership.

The update, released Thursday by mortgage guarantor Freddie Mac, is a reminder of the spending power of the mighty post-war creation. As of 2024, there were 65 million Baby Boomers, defined as Americans born between 1946 and 1964. They account for 20% of the U.S. population, and 36% of total homeowner households.

As they age – and pass on – the ensuing “Silver Tsunami” is likely to bequeath what Freddie analysts are calling a “Wave of riches” for their children and other heirs.

Among the update’s findings:

Boomers hold half of the country’s home stake, amounting to $17.3 trillion, according to Federal savings data. In a survey Freddie conducted earlier this year, 75% of respondents said they schedule to leave either their home or the proceeds of the sale of their home to their children or household. Only 9% intend to use their home stake to capital distribution their retirement fund.

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Homeowners are far more likely to have confidence in a comfortable retirement fund than renters. Nearly 70% of respondents who own their home expressed confidence in having a “financially comfortable” retirement fund, versus only 42% of renters. Research released earlier this year by the Aspen Institute showed that renters have a median stake of just $10,400 compared to about $400,000 for homeowners.

Finally, the vast majority of survey respondents capital a fixed-rate mortgage for helping them construct riches. Half of the respondents own their home outright, but among those who are still paying off their mortgage, more than half – 53% – have an gain rate below 4%.

“This is the 30-year fixed-rate mortgage playing at its best,” said Sonu Mittal, who runs the Single-household Acquisitions department at Freddie Mac, in an interview with USA TODAY. “Baby Boomers have had the stability and safety and tranquility of mind on the settlement.”

Some research suggests the Boomers may have had it luckier than those coming of homeownership age now. While fixed-rate mortgages do keep loan amount and gain payments stable and secure, property insurance and taxes are taking up an increasingly large distribute of monthly housing costs – and those costs keep growing.

More:Buying a house? Four unconventional ways to become a homeowner.

Industry innovations, including some mortgage products Freddie Mac has developed, aim to assist Boomers and their heirs with various elements of the aging procedure.

For example. The corporation’s CHOICERenovation and CHOICEReno eXPress mortgages may be helpful for older homeowners who are looking to age in place with renovations to their primary home, or even the construction of an accessory dwelling unit, sometimes called a “granny flat” or “in-law unit.”