Baby Boomers And Young Professionals Set Real Estate Trend

The real estate industry is built around market trends be they upward, downward, or trends in the style or location of properties being bought and sold.

A recent trend is for many younger professionals to move from the city to buy a property in the suburbs. One of the main causes is the ever increasing property values in the most city centers and the desire to start a family.

This property trend is somewhat offset by another trend in property buying. Many Baby Boomers whose children have left home are now buying property in the city. They want the convenience of being close to cafes, restaurants, entertainment and to get away from lawn mowing and other maintenance tasks associated with suburban living.

Their old family home is now too big and too much work for these Baby Boomers. Many also have built up lots of equity in the family home and have paid off most, if not all, of their home mortgage. With capital behind them, these Baby Boomers are well positioned to pay the higher cost of new development condos and lofts in the city.

Some Baby Boomers even enjoy the best of both worlds by keeping their suburban family home and also buying a city apartment.

So, when you think about it, both these trends effect each other. The young professionals are buying the family homes previously occupied by the Baby Boomers and the Baby Boomers are filling the gap in the city.