he naysayers are extensively about how property
proclaiming the end of the buying habits occur in a
real estate boom once predictable fashion as a
again. Once again, they are generation ages. From needing an
wrong. apartment in college, to buying a
starter home and eventually
Boom, Boom, Boom trading up to something larger,
it is all cyclical. Since the
In recent years, it's impossible Baby Boom generation is the
to turn on the television or read largest so far, their impact has
the headlines without seeing a been far greater than the
warning of impending doom. generations that preceded them.
Experts claims there is a housing
bubble and it is about to burst. Now that Boomers have moved into
Should first-time and move-up their top earning years, they
homebuyers be concerned? No. continue to push the housing
market to new levels. They are
We keep hearing about the purchasing larger primary
bursting bubble, yet the real residences as well as vacation
estate market continues to boom. homes and investment properties.
How can this be? Demographics are The statistics for 2004 reflect
the primary reason. this trend, with 36% of home
sales going toward second homes
The most significant and and 23% of sales going toward
frequently mentioned demographic investment properties.
is the "Baby Boom" generation,
which refers to children born in Demographic trends don't end
the years following World War II. there:
Economic forecasting expert and
author, Harry Dent, has written Immigration - There has been a
large influx of immigrants over factors listed above, real estate
the past three decades. has been a rewarding investment.
Stocks and bonds have not
Children of Baby Boomers - This performed as well as investors
generation is now in their were used to, while real estate
twenties and looking to purchase has exceeded expectations. In an
their first homes. uncertain world, people are more
comfortable investing their money
Retirees - While the demand for in property that will appreciate
housing is expanding, the supply and can be lived in.
is decreasing. With advancements
in medicine and treatments of Don't buy the hype about a
disease, retirees are living bursting bubble. Three years have
longer. This means that they are passed since the doom and gloom
occupying their homes for more predictions started. The real
years, which decreases the supply estate marketing will continue to
of homes available for purchase. flourish.
In addition to the demographic
About the Author:
Dan Lewis is a mortgage broker with http://www.gwhomeloans.com - San Diego mortgage brokers providing home loans and refinances. Visit http://gwhomeloans.com/services.html to learn more about options for San Diego mortgages.
Source: www.isnare.com
