Housing Giants - April 24, 2008 - (Page 25)

Households are growing, and that growth is fueled by minorities. Reprinted from “The State of the Nation’s Housing” 2007 report with permission from the Joint Center for Housing Studies of Harvard University. All rights reserved. when they were in their 20s by a lack of optimism for the future, their cynicism and their distrust in traditional values and institutions. There has also been some resentment among Generation Xers over boomers’ cultural dominance. In the housing market, the boomer generation’s larger size has contributed to what Myers calls a generational housing bubble that has driven up home prices due to decades of strong demand from boomers. The result: Generation Xers faced high home prices when they entered the home buying market. However, this bubble may well deflate over the next 10-20 years. WWW.HOUSINGGIANTS.COM “The ratio of seniors to working-age residents will increase by 67 percent over the next two decades; thus we anticipate the end of a generational housing bubble,” Myers says. “When people enter their late-50s and early-60s, as the leading edge of the baby boom generation has now done, buying and selling are in balance. Among individuals in their mid60s, sellers come to outnumber buyers [and then] selling dominates among those in their 70s and beyond.” Housing value deflation will not please boomers, but it will be just the prescription for some Generation Xers and Yers when 4.24.08.HOUSING GIANTS 25 http://WWW.HOUSINGGIANTS.COM

Table of Contents Feed for the Digital Edition of Housing Giants - April 24, 2008

Housing Giants - April 24, 2008 Contents Viewpoint News and Moves Sell Workforce Housing The New Housing Demographics

Housing Giants - April 24, 2008

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