Vulture Fun at vancouvercondo.info January 7th, 2011 at 5:11 pm–
“[Boomers] getting old. We hear about them often on the news, but how big an effect will they really have on real estate? I tend to think demographics will be the biggest factor in the coming crash. I know this is nothing new, but can anyone dispute the common theory on how this all plays out:
1. The oldest boomers are just turning 65. Time to bail on the house (which is too big since the kids left) and buy a condo or rent.
2. 40% of them are sailing into retirement with nothing saved. The only source of funds other than meager government programs? The primary residence. Time to sell.
3. The first ones out are winners. The last ones out get killed. Once this group starts to sell it creates a vicious cycle that drives prices down for the next ten years. Of course, not all boomers will be forced to sell, but there’ll be enough that do to have a huge effect.
The strongest argument I have against this is the boomers I know personally, none of whom have been stupid with their money, none of whom got LOCs to support unsustainable lifestyles.”