This subject is not a typical topic I would write about, however I saw a study done by the National Association of Realtors and thought it was very interesting. Why? Because this phenomena will have huge impacts on the real estate market and will affect everyone. Therefore I thought it worthy to share on my blog.
What is the Echo Boomers? These are the sons and daughters of the Baby Boomers. Interesting there are about 80 million of them, there are only 77 million baby boomers. We all know what a huge impact the baby boomers had on our economy and housing market, so look out….is this the next big real estate bubble?
Let’s look at some charts and facts related to this group.
They are better educated!
They will eventually be the largest segment of the population!
The group is more diversified, less white!
Renters now, but will buy homes later
Thanks to the Echo Boomers, we might expect:
- · A general increase of the stock market
- · More households will be formed helping to lead a real estate recovery
- · Nationally, incomes should rise
- · Spending should increase as this group moves toward their maximum income age bracket
No, I do not have a crystal ball, but as groups of people earn more money and spend more money, it fuels the economy and we all know that consumer spending leads to a strong economy!
For Information on Buying or Selling Land contact G. Kent Morris, ALC, RF at (706) 457-0090