Baby Boomers Invading The FHB Market With SMSFs
The generation closing on retirement (or retired) is making rapid inroads into the First Home Buyer Market. Their self-managed super fund is proving to be of great assistance in this regard. Yeah! I would any day lay a bet on that kind of fund getting the better of paltry resources that first home buyers have (despite the Grants). Peter Sarmas for the StreetNews reports that SMSF-aided investors have grown double-fold whereas FHB numbers have come down by half since last year.
Investors from the generation of baby boomers are a strong presence at the auctions. Buoyed by low interest rates, they are easily outbidding the first home buyers.
The value of residences in capital cities have grown by nearly 7% since the trough they hit in May 2012. This is also a trigger for the baby boomer generation which has enough money stacked up their sleeve.
You can read the full article here.
Are you investing in some equity release product (reverse mortgage and their likes)?