BOOMERS AND ECHO BOOMERS

TaylorTree

My friend Mike Taylor continues to study the Boomers and Echo Boomers. My focus on the housing boom has been on the fact that the boomers are at the prime age to buy second homes. This indeed has been happening and it should continue to happen for several more years. Mike has reminded me of the Echo Boomers. My two daughters are smack in the middle of this group. The oldest bought her first home two years ago; a four bed-room three-bath brick home with a two car garage. It is a sign of the times that the two car garage is the part that is not big enough (my son-in-law owns classic cars in addition to his everyday vehicles). My youngest daughter will graduate from graduate school this fall and I am sure she will buy her first home soon.

The majority of the Echo Boomers, according to Mike's figures, will be at peak first home buying ages in the next few years. Knowing how far the housing boom will last is difficult. My wife and I plan to down-size out first home and to retain ownership in a second home or two. This is the trend--never fight the trend!