Sometimes we forget to look beyond our own front doors- literally. Today, the Baby Boomers represent about one-third of the population in the U.S. There are many younger people in the U.S. , which should spell good news for the housing market recover. The problem is that many homes are dates- younger people will be living in the Digital Age- not the Age of Motoring.
That said, the US is a relatively young country (thanks to immigration) with a relatively young population.
The infographic is from:
What Baby Boomers’ Retirement Means For the U.S. Economy | FiveThirtyEight.
According to a 2014 study by the Nationwide Building Society in the U.K., home buyers will pay a ten percent premium for a property that is close to a tube (subway), railway, or tram station. In London, that meant there was a 42,000 pound premium- in US dollars, that is more than $68,000. A secondary factor was the length of time it took to commute into central London. Not all proximate stations are created equal, in other words.
The study was conducted in London, Manchester, and Glasgow. The home premiums were significantly lower in Manchester and Glasgow, but still underscore that there is a H+T balance (somewhere) and that it is significant to “mind the gap”.