The first time we ever heard the term “echo boomer” was today over at CNNMoney.com.
The term refers to “the 75 million Americans born between 1979 and 1995.” The demand in housing will swell dramatically over the next decade to house all of these folks and their families, “household growth during the next 10 years should range between 12.5 million and 14.8 million.” And according to the 1999
U.S. Census Bureau Report, 25-44 year olds are the largest population in California, totaling more than 10,325,692 people. This same group makes up almost 30% of Orange County residents. Since Echo Boomers are likely to be first time homebuyers (hey you’ve got to move out of your mom’s basement some time, right?), they can take advantage of the $8,000 tax credit provided by HUD, as long as they purchase by November, and Orange County has several programs to make purchasing a home easier for rookies, check out the list here, then browse bargain homes here.
C’mon Echo Boomers, the country’s counting on you!
Minda Reves is a freelance blogger for SHORTsense.com