Echo Boomer? No that is not a terminology used for a sound you hear across a canyon, however the impact may be similar…..Amazing!
While the recent economic downturn has slowed household growth, the massive size of the Echo Boom Generation is expected to give a powerful boost to housing demand. Echo Boomers represent a significant portion of first-time home buyers and will play an important role in absorbing inventory.
Echo Boomers are wise beyond their years. A study found that they defy conventional wisdom when it comes to assumptions associated with young people. According the to the survey, these consumers demonstrate a mature approach to spending.
- Almost half of the Echo Boomers describe themselves as savers.
- More than 70% are concerned about having enough money for retirement, a degree of concern almost equal to that of Baby Boomers.
- Echo Boomers stated that spouses (70%), children (63%) and parents (48%) had the most influence on their spending.
source: 2007 USA Visa
Staying abreast of current trends in the real estate market is what RE/MAX 4000 Associates pride themselves in doing. With the entry of the Echo Boomers in the market, their influence is projected to reverberate through the canyons of the coming years. Call today if RE/MAX 4000 can assist you with your buying or selling needs!