If you're wondering who or what an Echo Boomer is, you might be surprised. By the title I assumed it had to do with something green or echo friendly, but that wasn't the case.
An Echo-Boomer is a child of a Baby Boomer. A study done at Harvard University predicted that the Echo Boomers are going to be the ones to bring the housing market back to life.
Between 1979 and 1995 there were 75 Million Americans born. The study correlates the amount of people born between, 1979-1995 with a need for housing.
I was born between these years and so are a lot of my customers who are looking for their first home!!!
I guess the government gave the tax-credit at the right time.
The one part of the article I found really interesting is that although they predict a lot of these Echo Boomers will begin to buy, they don't see them driving up the prices. They predict this because the Echo Boomers incomes are lower than the individuals who were buying homes a decade before them.
In my opinion the prices could go up due to the Echo Boomers. I believe this because, if they begin buying up houses, they will decrease the supply and therefore the demand will go up. Generally speaking when demand is up, it can have an upwards affect on prices.
Happy House Hunting!!!
If your looking the Delray Beach, Boca Raton or Boynton Beach areas, I would love to help you find your next home!!!
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