Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (169029)	12/4/2008 1:26:00 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

i don't have the exact percentage but if pressed to make a guess i would say at around 15% at least in my circle of friends i think i only know of one person in my age group that only has one home...many own 3 or 4 i live in an area (currently renting, so i guess you could call that a 'second home' as i maintain my residence in another state) that is a 'second home' haven, and during the bubble expansion inventory grew at unsustainable rates....i think the false assumption was that there would be a continuing onslaught of boomers buying second and first homes here as they reached retirement. of course that has come to a screeching halt....the good news is that despite the heavy retiree population, because it's utah, there are very large families here so it's an interesting mix of both the very young and boomers, (schools are excellent here, the state made good use of the RE boom and sold a bunch of BLM land to build) so the median age is about 31 (u.s. median is around 37 i believe), the median age for utah is 27