When Digging a littler deeper in the Survey findings, it all makes sense. A smaller proportion of Generation X renters (33%) previously owned a primary residence (compared to 45% of Baby Boomers Renters), yet the same percentage (74%) of both generations have since sold that primary residence.
Figure 2: Primary Residence Owners and Sellers.
Futher evidence of the more detrimental impact of the housing crisis on Generation X is demonstrated by the fact that the majority of Generation X is demonstrated by the fax that the majory of Gen X (56%) who previously owned a primary residence sold it in 2008 or later - during the aftermath of the Great Recession-versus 42% of Baby Boomers. When looking at their reasons for seling, it becomes abundantly clear that Gen X was more negatively impacted by the housing crash than Baby Boomers as 41% if Geb X sold their home dur to financial difficulties (forclosure, short sale or bankruptcy) compared to only 26% of Baby Boomers. The Great Recession effectively robbed Gen X of 6 to 8 years of homeownership and turned them into renters.
Despite the hardship they faced, many remain optimistic and plan to buy a home. More than four out of ten Gen Xers (41%) said they plan to buy a home after they more form their current rental