Baby boomers on the move
A recent Coldwell Banker survey reveals that baby boomers are breaking the mold of their parents and are buying new more expensive homes. Most parents of boomers came of age during the depression and World War II remained in the same home throughout adult life.
According to the Coldwell Banker survey, more than half of the baby boomers who bought a luxury home plan to spend less than 5 years in this home. Eighty six percent of these baby boomers have purchased three or more homes in their lifetime.
Boomers are certainly benefiting from reaching their peak earning power during the stock market boom of the 1990's and the real estate boom of this decade.
Affluent Baby Boomers Are Not Ready to Stay in Their Current Homes Forever [RisMedia]