According to research provided by the National Association of Realtors, Aging baby boomers and their echo boomer children will have a major impact in the nation’s housing market over the next 20 years. In Rockland County, according to the 2010 census, echo baby boomers (ages 17-31) total approx. 53,000 and baby boomers (ages 46-65) total approx. 63,500 or 40.5% of total population of Rockland County.
In the next 20 years, the aging baby boomers will likely help increase the supply of housing by selling their homes. The echo baby boomers will absorb 75-80% of the available inventory by 2020.
A favorable housing market with a strong a recovery would encourage growth for echo boomer households and this would help absorb current inventory setting up positive conditions for new construction.Nationwide approximately 12 million new households would be formed over the next 10 years requiring 15 million new housing units. Rockland County population is 311,687 and total US population is 308,745,538, as per 2010 census: Rockland County represents a little more than .1% of the total population.
The supply of rental housing continues to fall and rents are increasing. Consequently qualified buyers are finding homeownership has become even more affordable.
Rockland County has a homeownership of 71% as opposed to 55.2% nationwide. In New City, for example, the total population is 33,559; at 71% over 23,800 residents are homeowners. Of that number 20.4% of them are baby boomers.
The way I look at, for those who are ready to buy, opportunity is knocking!!
Author:Donna Podesta Phone: 201-264-4918 Dated: March 30th 2012 Views: 2,842 About Donna: I am an experienced Realtor working in the Greater Hudson Valley Region which includes both Rockland...
Chat with us now!
A real live chat operator is online now! We can immediately get your questions answered or make sure we get it to an agent who can.
View our latest blog posts in your RSS reader. Click here to access.
A leader in Hudson Valley Real Estate, Wright Bros. Real Estate Inc., represents the best of traditional market knowledge and customer service - all provided by 29 of the most experienced agents, combined with the very latest in proprietary technical internet marketing, and superior support staff. Russ Woolley, with 35 years of real estate experience and his partner, Justin Tracy, information and renowned internet Guru, have created a most unusual firm. We want your business, and our agents are committed to your success.
The New City Street Fair, will be held this Sunday Aug. 31st. from 10a
"There are not enough words to say how amazing Diane is. She helped my fiancé and I buy our dream home. She was patient, hard working and most of all, honest. She never pressured us and made sure that we were happy and comfortable. I would recommend her to everyone! If you want the best agent in Rockland choose Diane Mitchell! "