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Housing Boom

What do the 10,000 Baby Boomers, who reach retirement age every day for the next 19 years, do now? Not what you would expect. We know Boomers are not retiring from their jobs. However, economists trying to predict the housing market say they need to predict when Baby Boomers will retire. A new Trulia report concludes, “Baby Boomers are just as likely to buy a bigger home, and take out a mortgage in retirement to do so, as they are to downsize.” Boomers are the second largest group of homebuyers comprising 31%, only inched out by Millennials at 35%. The National Association of Realtors reported and uptick in sales activity in the first quarter of 2016 in metro areas. A slice of the niche Boomer real estate market is choosing walkable urban communities, but only in trendy or spectacular locations. Gaging from the age of the Presidential candidates, and dare I say, much of the leadership in our industry, a safe bet on Boomer retirement seems to be not anytime soon.

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