The most significant implication of the study, said Engelhardt, is that though the second-home
market currently is and will continue to be relatively small but with sustained future growth among older homeowners, the source of the growth will come from the sheer size of the baby-boom cohort--not because boomers own second homes at a higher rate than their parents' generation.
Venturoni's research does not cover all of Colorado's second-home
And while resort destinations with water are still the hands-clown favorite locations for second-home
buyers, there are ample opportunities for builders in urban areas.
Alternatively, if the impact of second homes can be isolated and is clearly negative, then impact compensation should come directly from second-home
buyers either through a punitive rate of council tax or through a higher level of stamp duty on properties purchased as second homes (assuming definitional issues can be overcome).
Without the current council tax discount, the average second-home
owner is likely to pay an additional 350 [pounds sterling] per year in tax.
com reports that the second-home
market will continue to thrive in 2006, with baby boomers investing in vacation property they can later pass on to their children.
The district is a luxury second-home
and tourism-based economy that has exhibited strong development to date.
The lion's share of second-home
sales in earlier studies were vacation homes, and previously reported figures for the total number of second homes in the U.
The study conservatively estimates that 25 percent of affluent households today expressed interest in second-home
ownership over the next 2-3 years.
buyers are 47 years old and have a household income of $85,900; roughly 66 percent are married couples.
David Lereah, NAR's chief economist, said the primary motivation of second-home
buyers is recreation.
com has identified the top vacation towns as a resource for investor's who want to buy a Second-Home
or vacation home and diversify their portfolios.