Boomers, stock market boost vacation home market
By Marilyn Much, Investor’s Business Daily
Vacation-home demand has been on a steady climb as a strong stock market, low interest rates and tempting deals have prompted high-end households to spend more freely on second residences and summer getaways.
The push comes as more high-net-worth buyers have opted to put some of the earnings they’ve gained from a rising stock market into second homes in spots that support a more leisure lifestyle.
Contributing to the increased demand are baby boomers home shopping for a place to vacation now, and retire to later.
Real estate brokers in resort locales from Massachusetts’ Cape Cod to Nevada’s Lake Tahoe report brisk second-home buying activity during the year’s first quarter.