Industry News

Baby boomers spark second-home surge abroad

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Editor's note: The second-home or vacation-home market is a booming niche that's vastly different than the market for primary homes. Many foreign buyers are playing a larger role in second-home purchases in the U.S., while many domestic buyers are crossing the border for their second homes. In this three-part series, we examine the fast evolving second-home market, looking at the trends of foreign buyers coming to the U.S., U.S. buyers looking outside the borders, and how booming second-home markets impact affordability for everyone else. (See Part 1: Florida says 'cheerio,' 'hola' to international real estate buyers and Part 2: Priced out of paradise.) The traditional vision of a second home was a cabin close to the shore of Dad's favorite fishing lake or a condo on the fairway of Dad's beloved golf course in the desert. That's no longer the case. Aging baby boomers, who have redefined every aspect and item of their life cycle ranging from jeans, to cars, to home design, also are red...