Homes condos Montgomery Md Rockville Gaithersburg Germantown, Short sale foreclosure expert: June 2012

Future of U.S. Housing Markets Depends Largely on Echo Boomers

 

Future of U.S. Housing Markets

Depends Largely on Echo Boomers

 

Future of U.S. Housing Markets  Depends Largely on Echo Boomers

 

 

Image(s) courtesy of: FreeDigitalPhotos.net 


WASHINGTON (May 18, 2012) - The next two decades in housing markets depends largely on the Echo Boomers. That's according to panelists at the "Shifting Demographics and Housing Choice: A Whole New World?" session today during the Realtors® 2012 Midyear Legislative Meetings & Trade Expo here.


There are approximately 62 million echo boomers in the U.S. Also called "millennials," echo boomers are currently ages 17-31. According to the 2011 National Association of Realtors® Profile of Home Buyers and Sellers, younger home buyers - those ages 18-34 - represent 31 percent of all recent home purchases.

"We know that although many young people may be delaying home purchases in today's economic climate, most of them still aspire to homeownership," said NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami. "Realtors® are committed to ensuring that the dream of homeownership can become a reality for generations of Americans to come."

During the session, economists NAR, the University of Washington, and Florida State University presented various research and data that illustrate the future of homeownership from a generational standpoint.

"Demography is destiny," said NAR Chief Economist Lawrence Yun. "In that vein, demographics can provide very useful insights into the future of housing and homeownership, and the results of these reports indicate that certain generational shifts will have a significant impact on the real estate industry over the next two decades."

NAR Economist Selma Hepp identified several key demographic trends on both ends of the housing age spectrum. The demand for affordable, accessible housing will increase as the 65-and-over population grows; at the same time, as seniors leave their homes and move into assisted living and other arrangements, they will add to the current supply of housing. Because of their sheer size, however, echo boomers will significantly impact the next two decades in housing.

"Echo boomers represent a long-term opportunity for a housing market recovery, but they are struggling in the current economic crisis," said NAR's Selma Hepp. "Consequently, demand for rental housing is likely to climb in the near term."  Read More > 

Information about NAR is available at www.realtor.org. News releases are posted in the website's "News and Commentary" tab.

 

To search an entire database of homes for sale in real-time with photos, descriptions, and community information,

visit my website: www.premiermarylandhomes.com

Rick Reed, G.R.I., CDPE- Certified Distressed Property Expert 

Assoc. Broker/Owner "The Congressional Team" RE/MAX

Licensed in MD & Wash DC

8937 Shady Grove Court
Gaithersburg, MD 20877
Cell: 301-742-1172
Office: 240-403-0399 X306

http://www.premiermarylandhomes.com/


Can I help a friend or family member with their Real Estate needs?  You can count on me!

Comment balloon 1 commentRick Reed • June 12 2012 09:32AM
Future of U. S. Housing Markets Depends Largely on Echo Boomers
share
Future of U. S. Housing Markets Depends Largely on Echo Boomers Image(s) courtesy of: FreeDigitalPhotos. net WASHINGTON (May 18, 2012) - The next two decades in housing markets depends… more
Great Website for Summer Fun in Washington, DC!
share
Great Website for Summer Fun in Washington, DC! It’s always easy to pack your days with fun, free things to do in Washington, DC - and it’s even easier during the summertime, when free and bargain-priced concerts,… more
Why Did We Start To Celebrate Father's Day?
share
Image(s) courtesy of: FreeDigitalPhotos. net Why Did We Start To Celebrate Father's Day? By Nicola Kennedy Not many countries of the world celebrate fathers with their own official day. However, that is what… more