Tag Archives: baby boomers

Not All Seniors Are the Same!

This is an ongoing series of posts on assisting seniors and their families during transition. Read Ann’s other posts here.

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Tech-Savvy & Under 29: The Next Wave of Home Buyers

This is the last in a series of 3 installments on generational home-buying preferences.  Author, John Tarducci, discusses baby boomer, generation X and generation Y purchasing trends.  Below is his piece on generation Y, the wave of the future in real estate trends.

When it comes to generational demographic shifts, the nation’s 75 million baby boomers have dominated the media spotlight for years. Baby boomers, move over, here come the Gen Y consumers. They’re young (ages 12 to 29), more than 80 million strong and they represent the next big wave of home buyers in America.

As a group, members of the Gen Y generation (born 1979 through 1996) embrace communications, media and digital technologies like email, texting and instant messaging – they’re the most connected generation in our history, and they give new meaning to the term “multi-tasker.”  Their hobbies probably include social networking on Facebook or other social media outlets, they have a strong environmental consciousness and they place a high priority on work/life balance.

Many within the Gen Y group may be renting now, but they’ll be buying homes increasingly this year; a much larger buying wave will begin in 2012, according to a 2008 report by the Urban Land Institute.  The #1 Gen Y choice of metro area? New York City.

Here are some interesting insights into Gen Y home buyer preferences and priorities. Continue reading

June 3, 2010

Gen X Homebuyers are Trading Up, Not Trading Off

This post is the second in a series of three articles about generational home-buying preferences.  Author, John Tarducci, discusses baby boomer, generation X and generation Y purchasing trends.  Stay tuned for his last installment!
When it comes to Generation X, many of whom represent the current wave of new homebuyers, smart home builders and real estate professionals are thinking outside the box.

That’s because Gen X buyers – those born between 1965 and 1979 and who are now in their 30s and early 40s – comprise many of today’s “trade up” buyers. And they’re looking for homes that suit a lifestyle that’s very different than that of their baby boomer parents.

The Gen X population, estimated at 81 million strong, dwarfs the baby boomer generation, which numbers roughly 67 million Americans.

Numerous surveys, focus groups and studies reveal a number of Gen X characteristics that affect their home buying preferences.  These include a growing environmental consciousness, a tendency to delay starting a family that’s due, in part, to challenging economic conditions, an increase in non-traditional households (where more people are living without a spouse or roommate) and an increase in single-parent households.

As a result, Gen X homebuyers…

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May 27, 2010