These Baby-Chasing Grandparents Are Turbocharging Demographic Shifts

November 18, 2024

From Austin, Texas, to Charleston, S.C., golf and grandbabies beckon

By Heather Gillers | Photographs by Zack Wittman for WSJ


Gillian Held wanted her daughter to grow up around her grandparents. But moving from suburban Orlando back to New Jersey would have meant downsizing. So last year, Gillian’s parents sold their house and relocated to Florida several months before baby Nora was born. 

“I said, ‘I don’t want to be Grandpa on a screen,’” said David Held, a retired New York City police officer who now helps watch his 7-month-old granddaughter two days a week.

Baby chasers are one of the cuddlier demographic trends contributing to America’s southward migration, a shift that is shaping everything from home building to municipal finance. Retirees have long sought out Southern states’ warmer weather and year-round golfing. Lower living costs and ample jobs have prompted a decadelong population boom in the South, and now those states boast a new attraction for many older Americans: their grandchildren.

Decades of rising stock prices and home values have left older Americans with much of the nation’s wealth, Federal Reserve data show. High mortgage rates are no obstacle to longtime homeowners who can sell their paid-off houses and buy new ones without a mortgage. In an era of more-flexible work, relocation doesn’t have to mean retirement. When grandparents live nearby, families can spend less on child care—and eldercare.

Gillian Held and her father, David, look over a laptop while Gillian’s mother, Cynthia, plays with 7-month-old Nora.

Housing-research firm Zonda publishes a yearly Baby Chaser Index ranking cities by growth in residents 25 to 44 and 60 to 79. Austin, Texas, Charleston, S.C., and Jacksonville, Fla., topped last year’s list. Ali Wolf, the firm’s chief economist, first heard about the trend six or seven years ago from home builders: “They would say, ‘We sold a house to a millennial and then we sold a house to their parents.’”

It all started in the 1960s, when baby boomers became the first generation to routinely move hundreds of miles for school or work, said Andrew Carle, who oversees a program in senior-living administration at Georgetown University. For much of the 20th century, parents in the U.S. raised their children close to where they grew up—at least those parents who hadn’t emigrated to escape persecution or dire poverty. 

“We went away to college, we moved multiple times for our jobs,” said Carle, who is in his mid-60s. “We could move anywhere but we are choosing to move closer to our adult kids.”


A new job and lower home prices prompted Alonzo Emery’s daughter and son-in-law to move with their two children from San Mateo, Calif., to the Austin area a decade ago. Emery, a retired vocational training program administrator, and his wife, Mary, followed two years later after a third grandchild was born needing medical treatment.

Texas’ culture and weather have been an adjustment for the couple, and they miss their son and son-in-law in California. But Emery, a former Arizona State University running back, gets to attend his 14-year-old grandson’s football games. He and Mary are learning dance moves from their 11-year-old granddaughter. “She’s put us on video,” said Emery, 73.

Moves like the Emerys’ have wide-ranging impacts for home building and even city budgets. The nation’s fastest-growing city is now the Austin suburb of Georgetown, Texas, where almost a fifth of the population lives in a single massive age-restricted housing community. This year, the city nabbed a triple-A

bond rating.

Cynthia and her husband are part of a wave of baby boomers moving to be near their grandchildren.

The median age of repeat home buyers hit 61 this year, a four-decade high, according to the National Association of Realtors, with the most commonly cited reason for selling being the desire to be closer to family or friends. Twenty-one of last year’s 50 fastest-selling planned communities have built or are building age-restricted areas inside larger all-ages developments, according to consultant RCLCO.


Nashville, Tenn.-based Kinloch Partners, which rents out homes near large corporate offices in the Southeast, estimates that the retired parents of newly transferred executives live in around 10% of them. 


“They have a guaranteed income. They don’t trash the house,” said Chief Executive Bruce McNeilage. Some pay a year of rent upfront.

For young families, the value of a nearby grandparent keeps growing. Child-care costs are up 6.4% over the past two years to a median monthly price of around $1,500 in major metro areas. The share of mothers with a child under 3 who work has risen over the past three decades to 66% last year from 58%, according to the Labor Department. 


Gillian Held and her husband, Jordan, employ a nanny three days a week. Her parents take Tuesdays and Wednesdays, staying overnight at the couple’s home, where they have their own bedroom. 


“We fully talk to them like they’re employees,” said Gillian, 32. “It’s an ongoing joke that when they want to go on vacation they have to take PTO.”


David and Cynthia Held, both 62, had long toyed with the idea of retiring to Florida. New Jersey’s cold winters and high living costs were wearing on them. Then in 2019, the Helds lost their son, Gillian’s brother Craig, to suicide at age 30. Living close to their daughter came to feel even more important. 


By the end of 2022, Gillian and Jordan were married and talking about becoming parents. Home values where the Helds lived in Monmouth County, N.J., had shot up 27% over the previous two years, according to Zillow. David and Cynthia sold their house and moved in with Gillian in October 2023. A few months later, Cynthia fell in love with a place in a 55-and-over community in Port St. Lucie. They paid in cash. 


The economics can be tougher for would-be baby chasers with grandchildren in the Northeast. Retired professor and author Michelle Herman and her husband are planning a move from Columbus, Ohio, to the New York City area to help raise future grandchildren. “Financially it makes zero sense,” she said.


There can be other snags. Herman contributes to a parenting advice column and recently counseled families considering a move to come to a clear understanding about how much child care the grandparents will provide. Grandparents should also do their own soul-searching before they relocate and have realistic expectations, she said. 

“I actually have known people who’ve done this and came back because it didn’t work out,” Herman said.


David and Cynthia Held take care of Nora on Tuesdays and Wednesdays, staying overnight at their daughter and son-in-law’s home, where they have their own bedroom.

—Nicole Friedman contributed to this article.


Write to Heather Gillers at heather.gillers@wsj.com

By Bruce McNeilage July 28, 2025
To view this post on "X" please click this link: https://x.com/YahooFinance/status/1949937657582407929
By Bruce McNeilage July 28, 2025
There have been a lot of headlines about the number of investors, both large and small, snapping up homes as investments. Kinloch Partners co-founder & CEO Bruce McNeilage explains who these investors are and why so many are getting into housing. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here . Click the image above to watch the entire video. 00:00 Speaker A When we talk about these investors moving in, what kind of investors are we talking about, Bruce? Are we talking about relatively are these smaller investors, or these private equity players? Who are they? 00:18 Bruce Sure, they're all the above, right? They're small mom and pop investors. They're buying four and five houses here and there. They're mid-tier companies like us. We'd like to do another 100 to 200 houses by the end of the year. They're larger players, and then there are the ones in between. Now, family offices, sovereign wealth funds, the hedge funds, the REITs, everybody is coming into the market right now. There's been too much money on the sidelines, and we're really starting to see these builders benefit because they have a lot of excess inventory, and folks like us can come in, clean up their inventory here in the next few months, and really uh help them with their profits and buy up their inventory. 01:06 Speaker A So that's interesting, Bruce. So part of the trend here is its home builders have a lot of inventory. That's part of the the driver here. 01:18 Bruce Yeah, absolutely. Mom and pops are having a tough time qualifying for mortgages, right? The interest rates are just too high in the last 52 weeks. You know, you look at Freddie Mac numbers, they've basically stayed the same. We're hovering just under 7%. People cannot afford mortgages right now. So the next best thing is to rent a brand new house. Well, who do you rent a brand new house from? The people that have bought one, or the people that have built one. And so we're really offering something that most people can't get, a brand new house, instead of buying it, you're renting it. 02:07 Speaker A And the smaller investor, Bruce, in particular, that this was really the trend the kind of journal pointed out here, is there a reason right now, Bruce, that smaller investors would be more active? 02:25 Bruce Yeah, sure. So small investors can borrow money from credit unions. They can borrow against their 401k. They can do a lot of different things that larger investors aren't going to do. And when you see the the price of houses coming down, when you see the inventory come uh going up, and when you also see all these builder incentives, it really helps a small investor get in the game, so to speak, because they are getting these discounts from these builders. 03:05 Speaker A And is the business model there, Bruce, for the smaller investor? It's what, you move in, buy a home, make some modest renovations, rent it with the aim of of one day selling it. Is that the idea? 03:22 Bruce Yeah, most people are looking at either buying a new house or what I call a used house and fixing it up. You cash flow it for a number of years, let's say three to five years. It goes up in value, and then you sell it. A lot of people are just in this for the capital gains. Some people are in it for the income and capital gains, but the name of the game is to have positive cash flow from day one and then sell it at a profit at the end. 03:54 Speaker A Is there are there advantages, Bruce, a smaller investor, relatively would have over a private equity player? 04:08 Bruce Yeah, I think they can be nimble. I don't think they have the same rules. They certainly don't have investment committees. And so they can choose to buy a house, rent a house, sell a house, and they can pay what they want to pay. You know, again, they don't have a mandate from an investment committee. So if they want to buy something with a lower cap rate, if they want to buy something with a higher cap rate or something big, small, uh you know, older, uh newer, they can be as nimble as they want where the larger funds can't. They have mandates. You know, they have a buy box and uh and and they've got some restrictions, and we do too. 04:57 Speaker A I'm sure, Bruce, there are some folks who are watching this right now who think, well, hold on a second. Doesn't this trend, doesn't this thing that Bruce and Josh are talking about ultimately make it that much tougher for regular Americans, Bruce, to come in and bid and compete?  05:25 Bruce Yeah, so you would think that, but what we're doing is we're not taking inventory out of the market. For us, we're building brand new houses, not taking inventory out of the market. And then these houses are available in the MLS. You know, you buy houses from the different large builders. Anybody can buy those houses today. It's just people are not. So investors are coming in, cleaning up this inventory, buying the houses, but quite frankly, they're available to everyone. It's just people can't afford them. So it's buying up the houses and making more stock available again, not to buy, but for people that can't buy but to rent.
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