When predicting how home buying and relocation trends will unfold in the near future, it’s important to understand to how the current generation of likely homebuyers – the so-called echo-boomers – will approach their housing needs. There are about 80 million echo-boomers, as this term is typically taken to mean those born between 1980 and 1995, in America, and many of them are beginning to enter the housing market, according to Forbes.
The decisions they make – whether to rent or buy and where – will have a massive impact on the housing market and the demographic makeup of the United States. Knowing that this demographic group prefers to drive less, according to the news source, might be an indication that its members may be likely to choose moving out of state to a large metropolitan area like New York City, Los Angeles or Chicago.
If they do make this decision to choose long distance moving instead of staying closer to where they were raised, how will they approach finding their new home? A recent conference – called “Shifting Demographics and Housing Choice: A Whole New World?” – is hoping to make some predictions using data focusing on the diversity of the echo-boomers and the state of the current economy.