Jan 23 2008 1:55PM | Permalink | Email this | Comments (0) |
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I saw this over the holiday weekend and forgot to mention it until now, but here's an interesting study. 

The authors posit that the wave of retiring Baby Boomers looking to sell their homes over the next 10 years will create a bigger housing crash than the current one. They base this on the fact that historically those 65 and older have quickly sold off their homes and moved to retirement homes, apartments, etc. The Boomers have always done things a little differently, so hopefully that will continue with their homeownership patterns. I know my parents want to own their own home (albeit a condo instead) for the rest of their lives.

The Gen Xers and Echo Boomers spend more than Baby Boomers on their homes according to most of the research we're seeing so far, but they simply don't have the numbers of the Baby Boomers, so there's a lot of logic behind this report.