Industry News

Real estate industry sets sights on boomers, Gen-Xers

Panelists discuss demographic trends

SAN FRANCISCO -- A 75-year-old man who is embarking on a new career in real estate and a former CEO who now works as a limo driver are examples of a larger trend, said Sherry Chris, chief operating officer at Prudential California Realty. There is a growing population of older Americans – but don't call them retirees. "They don't want to be considered as people who are retiring," said Chris, who spoke Thursday during a session at a real estate conference in San Francisco sponsored by the Fisher Center for Real Estate and Urban Economics at University of California, Berkeley. She discussed baby boomers and the younger Generation X and Generation Y crowd during the "Retirement, Real Estate, Boomers and Gen-Xers" panel discussion. "Boomers are going to mix work with play. They will reject a life of retirement. They will repeatedly cycle between periods of work and leisure," she said. About half of them plan to buy a new home in their retirement years, she said, citing a survey by M...