Baby Boomers and Second Homes Revisited

There have been a number of articles back and forth about the issue of baby-boomers and their second home buying habits. A recent report had debunked the idea that they were buying more than the previous generation, saying that the 15% second home buyers over age 50 is the same percentage as 1992. This puzzled many of us, who do see boomers getting more second homes. An article in the Baltimore Sun gives the most useful explanation. They write, "Although, proportionately, no more boomers are relaxing at second homes than their parents did, sheer numbers are higher. The boomers are a huge generation -- about 78 million compared with about 63 million in their parents' generation."

I'm not so sure why people have been rushing to claim the boomers are not leading the way with second homes. It's not a helpful point. The Baltimore article goes on to give a clear  picture of what is ahead, from an investment point of view. They point out that the next generation is only about 44 million, so what will happen is that the second home market will decline later. They feel the next 10 years are great, and second home demand falls off between 2030 and 2035.  Now that's helpful information.

Comments

[KEN]

The founders of Your Fraction feel very strongly that our clients should participate in the fractional ownership of properties where we would realistically expect to see an increase in their capital value in the years ahead. We specialise in sourcing high quality properties located in desirable areas. They will almost always be individual residential properties and as such are most likely to retain strong re-sale potential should owners wish to sell in the future.

We base our selection process and pricing structure on the following criteria �

� Location � We specialise in the acquisition of property only in countries and areas where the market offers real opportunity for growth. These currently include the USA (Florida), Scotland, Italy and Western Australia where we have direct experience and knowledge. Other locations are currently being researched.

� Local Knowledge � Our knowledge and experience of these markets will be used to ensure that acquisitions are not made where excessive prices are being sought or where there is oversupply.

� Pricing � The total value of the fractions is based upon the market value of the property and can be a figure between 110% and 200% of this. We aim to set pricing at around 130% and this will include furnishings. You therefore pay only a small premium for the flexibility and convenience of fractional ownership.

� The Future � We will advise our fractional owners of specific sales opportunities or market trends that may be to their advantage. For example if a property is in a location where high prices are being achieved we might suggest to the owners that the property is sold and a replacement is sourced in an up and coming location with more space, facilities, etc.

Property has proved to be a sound investment for many people over the years and being part of a carefully structured fractional programme can present you with the opportunity to share in the ownership of an asset that should rise in value and provide years of memorable holidays
WWW.YOURFRACTION.NET

[tokiujosa]

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[S. Garrett]

I own a second home in the Show Low Bluff community up in the mountains of Northern Arizona.

The surrounding mountians and lakes plus the perfect whether make it an ideal vacation house to rent out when I am not living there.

This baby boomer couldn't be happier with the decision to buy a second home :)

[homes in philippines]

Good thought with this one.

Deirdre Gonzales