Boomers and 2nd homes

Boomers expected to sustain market for 2nd homes

In spots like Oceanside, Calif.; Pompano Beach, Fla.; and Beach Haven, N.J., seasonal homes have become some of the hottest commodities going. Prices have soared along both coasts, as well as in well-known ski areas and resort communities. "You see appreciation in unique areas that are simply irreplaceable," said Peiser.

In 2004, 1.8 million second homes were bought primarily for investment, according to the National Association of Realtors. That was 23 percent of all homes purchased last year.An additional 1 million second homes changed hands for personal use, or 13 percent of the total.

Taken together, all those Donald Trump wannabes and cocooning Baby Boomers accounted for 36 percent of home sales overall.

Boomers feel right at (2nd) home [Chicago Tribune]

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