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Baby Boomers Old, Wealthy and Buying Real Estate


Posted by Jesse on 16 Feb 2010 / 0 Comment
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World War II was a great time in America and with that hormonal adrenaline came a whole bunch of seedlings, also known as baby boomers. In fact, in just four years a quarter of the total American population will be 55 or over. As a result, Real Estate agents are targeting the bingo hall rooms everywhere. It only makes sense to target older people with savings, rather than the young and unemployed.

Baby boomers own more real estate than any other generation, with one in four owning more than one property. This is great, as long as they have their retirement plans secure as well. 70% of Baby boomers own homes and over 90% have owned homes at one time in their lives. Sticking with the 25% total, a quarter of the baby boomers are not satisfied with their homes, which means they probably want to go bigger. It could be assumed that the house cleaning industry is licking their collective cleaning chops.

They prefer smaller town or communities with quality health care. They like a beautiful environment. They don’t like extreme weather. They want stability in their living conditions and property investments.

Obstacles are still in the way of many because selling your home depending on location may not be a simple task. If they can afford to take a loss in order to upgrade living, it may not make a difference. For others who are worried about their savings, there could be resistance in making the leap.

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