According to the RE/MAX report issued this summer, Generation X is taking over the recreational property markets in Canada this year, replacing the aging baby boomer generation as the main buying force.
What exactly is Generation X? Over the years, social scientists have developed the habit of giving fancy names to the generations of the 20th century. Dating of a particular generation depends on all the different political and cultural aspects of the period that influenced the upbringing of members of that generation. While baby boomers (those born in the period of mid 40’s late 50’s) were the most active buying force until just a few years ago, most of them have entered or are just about to enter retirement. At the same time, the children of baby boomers named as Generation X, now in their 30’s or 40’s, have finally got the financial ability to purchase recreational property at almost any price.(Generation X to replace baby boomers? continued...)