55 Year Olds And Above Are The Fastest Growing Market In Real Estate

 Baby boomers are buying real estate in record numbers, and is one of the fastest growing markets in the real estate industry.  Several reasons contribute to this trend. Boomers are buying vacation homes, the are becoming empty nesters and are selling the large family home to downsize, investors are seeking safe places to invest thier money, and the over 65 population are seeking homes to match physcial and financial changes that are occuring in their lives.Don’t call them Seniors! This population is proud to be in this catagory they are among people like Mick Jagger, Aretha Franklin, Cher.  They are between the ages of 50-64 years old.  They had their children in their 30’s and and the first wave of boomers watched their children graduate from college in 2000.It may surprise you to know that 70% of boomers have a bachelor’s degree or above and have an annual income between $50-75,000. They are physically fit and they are on the move.

If you are a boomer you should know that in 1988 the Federal Housing Act was amended to prohibit discrimination based upon disability or family status. The inclusion of families as a protected catagory raised issues with the operation of retirenent or adult communities, so the amendment included exemptions for housing developements that qualified as housing for persons over the age of 55.  We are living longer as a population and we are healthier than ever and the needs of this generation continues to change and as the needs change so will the housing needs change. Buying real estate is still one of the best investments you can make, even with all the bad information the media is putting out about the housing market. A buyers market only means that YOU SHOULD BE BUYING! So consider your options in real estate for your future investments. If you are one of those who needs a vacation home, or need to downsize, or just want a home on one level go to my website www.darlenecherry.com and search for properties.

Baby Boomers Continue to Dominate The Real Estate Market In Light Of All The Bad Press

 

DARLENE CHERRY

The last three years in the real estate industry have proven to be among the busiest ever in real estate history, even in light of the more recent slowdown. Consumers are not just buying homes to live in; they are also buying homes for a host of other reasons. At the top of the list of reasons is that they want to buy real estate that they can enjoy on a part time basis. Baby Boomers are leading the way and have found their real estate portfolios getting a little bulky.

Baby Boomers are those people born after World War II between the years of 1946 and 1964. These are people who have witnessed life with more stability, at least financially, than their parents. They didn’t go through the Great Depression although they certainly have lived with the scare of communism, friends or family who have served in Vietnam or Iraq. Baby Boomers have led the market with their veracious appetite for anything real estate. So what exactly are Baby Boomers buying and what are they looking for when they make the decision to add to their real estate portfolio?

Baby Boomers were responsible for and involved in almost 40% of all real estate transactions that occurred in 2005 and 2006. Almost 40% of EVERY home bought or sold in 2005 and 2006 was done so by a Baby Boomer. This is a very impressive number and one that can not be overlooked. Baby Boomers know what they want and they are prepared to look for it and to pay for it once they find it. Baby Boomers are dominating the market

Baby Boomers are primarily attracted to two locations. They either want to be near water and recreation or they want to downsize and move into the city where they can be part of the busy bustle of a thriving city environment. They also want low maintenance. Anything waterfront, water view or lakeside is highly sought after by Baby Boomers. Downtown luxury condos are especially popular, but they better be “decked” out with all the finest finishes and amenities. Baby Boomers don’t mind paying for these amenities and they expect the best.

Baby Boomers are using real estate for recreation, wealth building, tax and estate planning. Never before has there been such a high demand and interest for real estate for the Baby Boomer.

Many consumers are extremely nervous about all the BAD PRESS the real estate market has received lately. But the savvy Baby Boomers are wiser than falling prey to media hype about the real estate markets impending doom and gloom. They know that the fundamentals of investing in real estate are sound ones and they know that their long term investment strategy is still best served with real estate investments. Baby Boomers have been around the block financially and they know a good long term safe investment when they see one. While they are watching the news and reading media publications they are paying particularly special attention not because they are worried about the market but because they are excited about the opportunities that the market will bring.

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