This afternoon I talked to a neighbor about the real estate market and the changing dynamics of our townhouse community. The buyers here are mostly young families attracted by the ideal location, beautiful landscaping, and good schools, and the majority of sellers have been seniors who are no longer able to handle two-story living (or even independent living at all.)
Later in the day, I read an online article that went into the economic side of this equation. Many of us in the Baby Boom Generation had much of our paper wealth erased when the stock market crashed in 2008, and retirement dates were delayed. But now, with the slightly rocky rebound in both the stock and real estate markets, we are starting to regain our confidence. In the next couple of years, we should see more seniors selling, and either relocating, or buying smaller, more manageable places to live.
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