Real Estate Trends: the Urban Jump

The real estate industry has always been one ofThis huge amount of saved up equity as most
trends. One only needs to look back over theboomers own their homes and have taken care
years to readily identify the numerous trends thatof their mortgages, this has enabled them to pay
have asserted themselves at different times. Onethe higher cost of new development condos and
of the more recent trends that we have seen islofts in the downtown core. Some have chosen
many younger professionals leaving the city forto move there altogether selling their suburban
the suburbs. This is partly due to their want tohomes, purchasing in town and still pocketing a
raise children in a more sheltered atmosphere andnice amount of money in the transition. Others
because of rising property values within the urbanhave chosen to keep both and enjoy the flexibility
core. Conversely one of the newer trends thatof having two locations to operate their lives
we are experiencing is the baby boomers whofrom.
are now mainly empty nesters are buyingThis move has, of course freed up a number of
property in the urban core to get away fromsuburban homes to fulfill the needs of the
higher maintenance homes and into areas with ayounger 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. Yearsbenefit of this is that there are already a number
ago the boomers left the city to raise children inof homes that have been specifically designed for
the relative peace of suburbia. They built orthe raising of families. Essentially it is a win-win
renovated homes to be bigger and more familysituation all around. What will be really interesting
oriented. Now, with their children reaching theirto see is if the pattern repeats itself in another
30's the boomers are finding themselves with20 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.