Boomers and Housing
Its a well-established fact by this time that Boomers are going to have a tremendous impact on our economy in the next 10 to 20 years. Housing will be no exception. Boomers are, and continue to be, a signficant driving force in the housing market.
For example, a report released by the NAR found that more and more Baby Boomers are putting off retiring. The average age for retirement is projected to be 70 with one-fourth of those surveyed saying they will never retire. Not only does that mean that they will probably stay in their homes longer before downsizing, but that their choices for retirement destinations may also change.
David Lereah summed it up best when he said, “The leading edge of the boomer generation is the key to future housing impact.”