Survey Shows That, For Baby Boomers, One Home Isn’t Enough!
Posted October 18th, 2011 | by The Update
A recent survey by Coldwell Banker showed that “Baby Boomers”— those currently between 47 and 64 years of age— are actively on the look-out for second homes that could one day become retirement or vacation spots:
A new survey from Coldwell Banker Real Estate finds that 87 percent of 1,300 agents and brokers polled agree that the economy is delaying baby boomers’ plans to sell their homes. That said, the desire to purchase and own a home, or more than one home, remains strong in this demographic cohort, especially so in the investment market segment. Another 87 percent of respondents said they have baby boomer clients who already own or are looking to own an investment property, including 22 percent of agents who report that at least half (50 percent) of their boomer clients either own or are looking to own such properties.
“The baby boomer generation has driven the U.S. economy for years, and like many Americans, they may be anxious about their next real estate decision,” said Jim Gillespie, CEO of Coldwell Banker Real Estate. “I know baby boomers are a very diverse group and cannot be described in generalities, but our survey clearly indicates that those boomers who are financially secure are actively seeking to buy their retirement home, or a second home, and they are taking advantage of the opportunities and value available in today’s market.”
You can see the full survey results here.
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