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Get Ready for a Baby Boomer Sell-Off

http://realtormag.realtor.org/daily-news/2016/06/29/get-ready-for-baby-boomer-sell?om_rid=AAT-f0&om_mid=_BXdARuB9PMCl01&om_ntype=RMODaily&om_rid=AAPCDw&om_mid=_BXjqZoB9QAyY$0&om_ntype=SRESMonthly#sf29938537Baby boomers and others aged 55 or older, comprising up to several million current home owners, say they plan to move to rental units in the next few years, according to Freddie Mac’s newly released 55+ Survey of housing plans and perceptions of those born before 1961. The top factors that they say are “very important” in influencing their next move are: affordability (60 percent); amenities needed for retirement (47 percent); living in a community where they are no longer responsible for caring for the property (44 percent); and being in a walkable community (43 percent).  Respondents also say they don’t want to move far next time they move. Thirty-one percent say they would likely relocate to a different neighborhood in the same city, while 23 percent say they would like to move to a different property in the same neighborhood….Read more…

 

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