Saturday, September 30, 2006

Boomers Move On to New Real Estate Pastures

People buy their biggest and best houses at exactly the moment their housing needs appear to be declining. The argument is a simple one: the demand for housing is primarily driven by wealth accumulation and not by space needs.

Universities facing shrinking student populations have starting selling off or leasing their land to developers who are building lifestyle communities geared toward retirees on or near campuses.

Also, the recent renovation boom to pass quickly. Boomers may renovate their homes to put a master bedroom and bathroom suite on the main floor and keep the upper floors for grandchildren and visitors. Elevators could become standard renovation features.


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