The Next Heavyweights in The Housing Market  

       The largest generations of young people since the ‘60s are beginning to come of age.  They’re called “echo boomers”.   Echo boomers were born roughly between 1977 and 1995.  There are approximately 76 million echo boomers between the ages of 15 & 28.  In 2009 their spending habits exceeded $192 billion.  As you wrap your head around those figures, think about the impact that this generation is going to have on the housing market in the coming years.       

      According to current U.S. Census, 67.2 percent of this generation can be expected to become homeowners by their mid 30s.  Considering that builders are currently developing about 500,000 housing units a year, and within the next 5-7 years echo boomers will have purchased 35.5 million homes, one can quickly surmise that in the foreseeable future we are going to have a housing shortage!