Harvard studies issue of Baby Boom housing turnover and remodeling trends

Source: Joint Center for Housing Studies

Harvard's Joint Center for Housing Studies' team tries to understand how demographic patterns may impact remodeling and home improvement business trends. In a new study, authors George Masnick, Abbe Will and Kermit Baker write, "Our research finds that older sellers generally live in their home for many years and they sell relatively older housing stock to much younger buyers, which generates significant levels of home improvement spending after the sale. Yet, a declining mobility rate in recent years also suggests more baby boomers may choose to stay in their homes and age in place. Whether aging in place implies significant upgrading to their homes to accommodate their changing needs remains to be seen. Certainly the housing choices made by baby boomers as they age into retirement years, and as the housing market begins to improve, will dramatically affect the size and composition of home improvement spending in the years and decades ahead." Implications here for new-home sales as well as remodeling.

URL to original article: http://www.builderonline.com/builder-pulse/harvard-studies-issue-of-baby-boom-housing-turnover-and-remodeling-trends.aspx?cid=NWBD110722002

For further information on Fresno Real Estate check: http://www.londonproperties.com