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Boomers Want to Retire in Style

Better Homes & Gardens Real Estate, which concludes that 57 percent of the 77 million or so boomers plan to sell their homes and move on to some kind of "next phase" of their lives. Or so they think - what they can afford to do might be a different story.

Comparing the boomers to the previous generation of people who were retiring, the boomers aren't necessarily downsizing into properties that have fewer amenities - they plan to live the rest of their lives in style.

Thirty-one percent of boomers are more likely to want to sell their homes now than they were five years ago. They have confidence in the real estate market.

I really believe that this group wants to make the best of the rest of their lives and they're planning for it. The properties that they end up with may be different from the ones they've dreamed about, but they're headed in that direction.

And regarding the boomers who want to move into cities, these boomers are dreaming about lifestyle and community, rather than buying the house or condo.

Read more: http://articles.chicagotribune.com/2014-03-30/classified/sc-cons-0327-umberger-20140330_1_boomers-sherry-chris-housing-market

 

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