WHAT WE HAVE KNOWN FOR A LONG TIME IS OFFICIAL . . . WE HAVE A HOUSING SHORTAGE…

OC Register columnist Jonathan Lansner points out in a recent article that in many parts of the country, a family can expect to buy a home around 3 times their annual incomes. But in heavily demanded areas of major metropolis’ you can expect closer to 6-8 times your annual income, depending on how lofty your ambitions are for your ideal home and neighborhood. It may not all be glum news however…many Baby Boomers will perhaps jump into this amazing seller’s market, to sell the family homestead and move closer to grandkids or resort cities with ideal climates. Perhaps Boomers who originally didn’t plan on moving may change their mind with housing appreciation they cannot resist that makes a dream home possible in another location. Also expect these boomers to help out their Millennial grand children, that may not be able to buy any other way. The windfall of profit from the family homestead may make some Boomers a little more generous, which would help fuel a move up market, the healthiest market in real estate.


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