Boomers, millennials to dictate market

CHICAGO – The behavior of two population groups, the baby boomers and the millennials, will have outsized influence on real estate markets in the next several years, according to a report by The Counselors of Real Estate, an association of real estate advisers.
Choices in housing for baby boomers, the generation of Americans born between 1946 and 1964, will affect the markets for several years, and will influence home construction, downsizing patterns and development of communities for assisted living or seniors. Millennials, the generation born between 1980 and 2000, will influence the market in their decisions to buy or postpone purchases.
Demographic shifts resulting from the two population groups will drive the market more than excess capital from non-U.S. sources, rising interest rates or urbanization, according to the Counselors.

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