Boomers flock on second homes
Patricia and George Riddiford their apartments sold last month, $ 925000 for harvest by 28 per cent of profit on the golf course property near Las Vegas, they bought in 2002.
“For us, it was an alternative to invest in the bourse and at the same time, it gave us a quiet and protected, so far,” said Patricia Riddiford, 55, a housewife whose husband runs a coverage.
Well, the Riddifords, living in Chicago, relying on $ 570000 lot of half-hectare of the same Nevada Resort. They are the baby boomers in their peak this year deserve, turn on the demand for second homes near beaches, lakes, ski resorts and golf courses. A record number of 445000 apartments have been sold during the year 2003, 24 per cent profit in 2001, after the National Association of Realtors.
As demand increases, prices of apartments is likely to increase at a rate two times higher than the projected 6.7 per cent for the whole residential market in 2004, said David A. Lereah, the head of the NAR, the economy.
“It is demography,” said Lereah, 51 “We the baby boomers approaching retirement age, and we see, real estate plays an important role in planning their investments because of their memories the Exchange falling. ”
The leading edge of baby boomers, 29 percent of the population born in the USA from 1946 to 1964, turns 58 this year. This means that the increased demand for holiday and residences for the elderly is likely to last at least for the next decade, said Lereah.
Boyd and Sandi Montgomery of Sylvania, Ohio, to buy a ranch with two bedrooms for $ 285000 in Sun City Grand development in Surprise, Arizona. When he turned development at the gates of Phoenix, Boyd, 58, in a related business insurance salesman, said he expected people appreciate such things as wood processing and Roller Skating.
“I think we could say that is like for young adults,” he said. “I am delighted to meet new people and have fun.”
He said he plans to create a “Vintage Base Ball” team on the development of soft-ball stage. In Ohio, there is a second baseman, playing under the rules of 1860, without a glove.
The Montgomery, said they use the holiday home and retirement age, will visit Florida, Texas and Arizona, before Sun City Grand. The design, construction desks Homes Inc. ’subsidiary Del Webb, the largest creator of American common to retirement, is an “age limit” in which customers must be 55 or older.
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