What will be the baby boomers effect on real estate?
My Boomer Tips
We have arrived at only the leading edge of the "baby boomers" moving on to nursing homes or the great unknown.
This Group began with the end of WWII and has shaped the economy ever since as they move through the phases of life. Now they are entering the finial phase.
Many of these persons own a home or reside in a single family unit. With their passing a new empty home will be on the market. Either for rent or for sale.
In my own neighborhood I have noticed not only more house for sale then ever but many that are just sitting empty.
The homes sitting empty are the ones that worry me as they invite crime and will degrade over time. We all have seen a farm house along the road rotting in place. The same processes are now working on houses in my neighborhood and I speculate that it's going on in most or at least many communities.
The true value of a home cannot be determined in dollars, but many see their home / house as an investment. I believe these people are going too disappointed in their return.
Your thoughts on the "Baby Boomers" moving on please
Additionally I have not heard any member government or any of the "experts" say anything at all in this regard.
2008 - 1947 = 61.
so no one age sixty 61 or less has moved on? Bad morgages not account for empty homes / houses. where do the people live now?
The boomers are not yet the ones moving to nursing homes. People do not move into nursing homes at the age of 61. People in their 80′s leave their homes.
Houses are empty due to lack of good mortgages and buyers, not boomer decline. There is a national economic crisis going on in the country related to lending institutions and housing.