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These Homeowners Aren’t Trading into Apartments

LOS ANGELES—Not all baby boomers are trading homeownership for apartment living. Some are splurging on vacation homes, creating a healthy buyer pool that is fueling the niche market.

Greg Spencer Greg Spencer is the CEO of Timbers Resorts.

LOS ANGELES—Baby boomers are fueling a lot more than just the multifamily market. While apartment developers list the significant demographic as a key renter, vacation home operators also say that baby boomers are fueling sales in the niche market as well. Greg Spencer, CEO of Timbers Resorts, says that they haven’t seen any baby boomers trading out of vacation homes for urban core apartments, but instead have a healthy demand from the demographic. However, Spencer is concerned about the buyer pool shrinking among millennials, which do prefer urban apartment living. To find out more, we sat down with Spencer for an exclusive interview.

GlobeSt.com: We hear a lot about seasoned homebuyers trading into urban core apartments. Are luxury apartments or condos competing for 2nd, 3rd and 4th time homebuyers?

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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