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Boomers Nearing End of Life Seen Helping California Tax Revenue

  • Report says home sales to pick up as boomers die, downsize
  • Share of homes owned by 55 to 75 year-olds increasing
Single family homes in Alameda, California.
Photographer: David Paul Morris/Bloomberg

The winding down for California’s baby boomers may end up boosting their home cities.

Home sales are likely to increase, and at higher values, as aging residents who’ve held onto their houses for decades downsize or die, according to a report by the state’s nonpartisan Legislative Analyst’s Office. The share of homeowners aged 55 to 75 years old has risen by 10 percentage points to 41 percent in 2015 over the past decade, and and they are more likely to sell when over 75.