Hello,
I hope you're enjoying the springtime weather. The market is going strong, so if you're thinking of selling or jumping in, give me a call!
Baby Boomers Living Large in Recreational Property Markets
(May 01, 2007) – Luxury recreational property sales are set to soar in coming months as affluent baby boomers drive demand for upscale product from coast-to-coast, according to a report released by RE/MAX.
The 2007 RE/MAX Recreational Property Report found the top-end of the market stands to gain most from the aging baby boom demographic, as many prepare for their retirement years. Teardowns, custom-builds, and renovation continue unabated as a result, changing the shoreline of lakes and rivers in 34 of the 39 markets surveyed from Newfoundland/Labrador to British Columbia. Upper-end sales have also affected recreational property values across the board, placing upward pressure on prices, particularly in Western Canada. Starting prices have topped $500,000 in 31 per cent of recreational property markets. Only seven offer waterfront properties under the $250,000 price point.
It's been said that money made in stocks and bonds typically works its way into real estate. This year is a prime example, as economic performance and stock market profits have propped up activity in most Canadian markets. The boomer attitude is go big or stay home.
