| The real estate industry has always been one of | | | | This huge amount of saved up equity as most |
| trends. One only needs to look back over the | | | | boomers own their homes and have taken care |
| years to readily identify the numerous trends that | | | | of their mortgages, this has enabled them to pay |
| have asserted themselves at different times. One | | | | the higher cost of new development condos and |
| of the more recent trends that we have seen is | | | | lofts in the downtown core. Some have chosen |
| many younger professionals leaving the city for | | | | to move there altogether selling their suburban |
| the suburbs. This is partly due to their want to | | | | homes, purchasing in town and still pocketing a |
| raise children in a more sheltered atmosphere and | | | | nice amount of money in the transition. Others |
| because of rising property values within the urban | | | | have chosen to keep both and enjoy the flexibility |
| core. Conversely one of the newer trends that | | | | of having two locations to operate their lives |
| we are experiencing is the baby boomers who | | | | from. |
| are now mainly empty nesters are buying | | | | This move has, of course freed up a number of |
| property in the urban core to get away from | | | | suburban homes to fulfill the needs of the |
| higher maintenance homes and into areas with a | | | | younger generation that is seeking to leave the |
| lot of extra assets and convenience. | | | | city to do as their elders did 30 years ago. The |
| The move actually makes a lot of sense. Years | | | | benefit of this is that there are already a number |
| ago the boomers left the city to raise children in | | | | of homes that have been specifically designed for |
| the relative peace of suburbia. They built or | | | | the raising of families. Essentially it is a win-win |
| renovated homes to be bigger and more family | | | | situation all around. What will be really interesting |
| oriented. Now, with their children reaching their | | | | to see is if the pattern repeats itself in another |
| 30's the boomers are finding themselves with | | | | 20 years or so. We only have to wait and see |
| these huge empty homes and a ton of equity. | | | | what the future trends will be. |