Housing and the Baby Boomer:
An Insightful Perspective
May 18, 2006
May 18, 2006 Source; 2006 NAR/Harris Baby Boomer Real Estate Survey
Baby Boomers Today
77 million Baby Boomers
39 million women & 38 million men
35% of all US adults are Boomers
42% of US homeowners are Boomers
Boomers: 73% White, non-Hispanic,
12% Black, 10% Hispanic & 4% Asian
May 18, 2006 Source; U.S. Census Bureau
Baby Boomer Segmentation
All Adult U.S. Baby Boomers=76,696,960
Never Homeowner (12%)
Financially
Comfortable
INFLUENTIAL Financially
VOTERS (70%)
AMERICANwell-off
Financially
VOTERS Uncertain
N = 207,487,283 43%
4%
?
41%
May 18, 2006 Source; 2006 NAR/Harris Baby Boomer Real Estate Survey
Boomer Household Characteristics
Baby Boomer Households
Non-families,
5%
Single
persons, 20%
Married
Other couples, 60%
families, 15%
May 18, 2006 Source; U.S. Census Bureau
Boomer Household Characteristics
Boomer Families with Children by age
100%
80%
13%
60%
40% 30%
67%
20%
30%
0%
Age 42-49 Age 50-60
Children 18
May 18, 2006 Source; U.S. Census Bureau
Average Boomer Household Income
Average Boomer Household Income
($75,700 vs $60,500 US aver.)
$80,000 $78,300
$78,000 $77,000
$76,000 $75,200
$74,000
$71,600
$72,000
$70,000
$68,000
Age 42-44 Age 45-49 Age 50-54 Age 55-60
Affluent ($100k+) Boomer households are 55% of all US
affluent households
3/4 of all Boomers & nearly 9/10 of affluent Boomers live
in single family dwellings
May 18, 2006 Source; U.S. Census Bureau
Baby Boomers and Homeownership
Agree or strongly agree with the statement:
96%
100%
80% 65%
58%
60%
40%
20% 13%
0%
Owning a home is Important to pay OK to buy with OK to buy most
a good investment off home loan small down expensive house I
quickly payment can
May 18, 2006 Source; 2006 NAR/Harris Baby Boomer Real Estate Survey
Baby Boomers’ Future Plans
Boomer's ideal retirement plan
33%
35%
30% 26%
25%
20% 17%
15% 11%
10% 7% 7%
5%
0%
Both work & Never work Work part- Start own Work full- Other
leisure for pay time business time
again
47% of Boomers say they’re financially strong,
but 53% say they’re weak
May 18, 2006 Source; 2006 NAR/Harris Baby Boomer Real Estate Survey
What does this mean for you and your
business?
Baby Boomers have a very strong
attachment to homeownership
Baby Boomers are likely to keep working
well into their retirement years
Baby Boomers want professional services
from their REALTORS®, first and foremost
May 18, 2006 Source; 2006 NAR/Harris Baby Boomer Real Estate Survey
Baby Boomers and Real Estate:
Today and Tomorrow
For more information on the full Survey,
click here:
http://www.realtor.org/prodser.nsf/Open
Prod?OpenForm&IN=186-77-06
Or contact:
T.J. Doyle at tdoyle@realtors.org
May 18, 2006 Source; 2006 NAR/Harris Baby Boomer Real Estate Survey
Housing and the Baby Boomer:
An Insightful Perspective
May 18, 2006
May 18, 2006 Source; 2006 NAR/Harris Baby Boomer Real Estate Survey