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