Baby boomer real estate bubble to pop
Mon Feb 11 2008 12:14 am
by Bob Morris.
Just as real estate prices might start normalizing by 2010 or so, more downward pressure will hit the market, according USC researchers. By then, large numbers of baby boomers will start retiring, and will be selling their homes. Thus, in many states, more houses will be on the market than there are buyers for them.
Posted in: Credit crisis.
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The fact that this is right around the corner seems to be catching many by surprise. It makes one shutter to think of how many retirement plans are based the “value of their houses”. We boomers never accepted the fact that a house was/is an expense.