There’s a great article in Newsweek about how retirees, baby boomers in particular, are driving the recovery of the housing market. Read the full article here.
Seems buying a home a few years before you actually plan to retire, even in this economy, isn’t such a crazy idea after all:
“According to the National Association of Realtors, people over 55 bought 21 percent of the homes that were sold in 2008, up from 13 percent in 2001. Now, roughly one out of every four baby boomers owns either a vacation home, land, or a rental property in addition to the home that they live in. And some shoppers are looking for transitional homes that they can vacation in now and settle into when they are ready to retire.”
There are definitely great deals to be had across the country. If you can afford to carry two homes for a while until you make the retirement full time, now might be a good time to consider taking the plunge.