Baby Boomers Are The El Nino Of Housing Bubble
Remember when everything was blamed on the weather phenomenon El Nino? The population bulge known as the Baby Boom is referred to in just about every story which tries to explain away the price explosion in homes.
"Baby boomers are coming into their own with money, and real estate is more of a sense of security."
When sales slow down, again, it's the boomers. "As the baby boomers are getting older they are downsizing, potentially. They don't need to buy as many home furnishings and they may even be pushing some of their furnishings off on their children, who may not go out and buy."