The tides are beginning to turn as many baby boomers are getting close to retirement, or are retiring now.
The types of homes that people are beginning to buy all depend on the way that they are living or want to live.
When you are able to afford luxury real estate you can practically buy whatever and wherever you want. In many instances, people are choosing location over home size.
After their kids have moved out and moved on baby boomers may find themselves being empty nesters. With this new way of life, there are endless opportunities because they are not worried about after school activities and another day to day responsibilities of being a parent.
Because of these new opportunities and retiring as well there is the option of buying a second home or a new home that is luxurious or in a neighborhood that they have always wanted to live in.
In Miami and New York City, there is no shortage of cash buyers ready and waiting to get in on new real estate. There are condos and townhomes in the middle of the city or on the waterfront that are selling above their estimated market values just because the demand is there.
Buyers are looking for locations that fit in with the lifestyles that they want to live, and they have probably not been able to live up until this point in time.
Having a condo in the middle of the city with great views that are convenient to all of the great restaurants, parks, and exciting places may not have been so do-able five or ten years ago because of proximity to work or the kids schools, but now it is perfect for this new phase of life.