Renting is all the jazz these days; and you’d be surprised by whom. Turns out the once biggest generation in our nation, the baby boomers, are now looking to sell their homes and rent. As CNN Money put it, “the rental market is going grey.” The majority of all renters are age 40 and older; people are no longer waiting until they retire to sell their homes. For so long we have focused on the fact that a demographic nearing retirement age would be likely to sell their homes and liquidate assets like second homes, but maybe it’s time we broaden that age group to include even more people. While nearing retirement age may indeed mean a homeowner is looking to sell a homes and downsize, people may be starting to do this at an earlier age.
A lease option may be more appealing to some than ever before. Baby boomers married earlier in life than people generally do now, they started families earlier and therefore are finding their nest empty earlier in their lives. They’re looking to move to more urban areas, where they can be close to the service they need and there is more to do. They’re ready to let go of the responsibilities of owning a home, which is perfect if you’re looking to buy them. This is something else to keep in mind when pulling your mailing list for yellow letters or postcards!