Realty Observer News
Grandma likes that Interweb-thingamajig
March 9, 2009 | Posted by Carolyn PikoulasThere is a belief flying around in the Real Estate community that Baby Boomers still do their home search the old-fashioned way - finding a Realtor in the phonebook or picking up the newspaper for listings. If you think that Baby Boomers haven't embraced the Internet for their home search, you're sadly mistaken.
According to the U.S. Census Bureau, there are approximately 78.2 million people who are now 50 years or older. And interestingly enough, the fastest growing market segment on Facebook is women over 55, with 175.3% growth. The population of men and women between the ages of 45 and 54 on Facebook has grown 165% since October 2008. The combined population of men and women on Facebook over the age of 45 is about 3.5 million registered users. This can only mean that they recognize the viral nature of the Internet and are starting to use it as their resource for all aspects of their lives.
The Pew Internet & American Life Project reports that 42% of the people who looked online to research a new home were 50 or older in 2005. In 2009, the latest study shows that Baby Boomers comprise 35% of the total adult population using the Internet. As Boomers have begun to retire, they have both the time and financial means to spend time exploring the Web - most specifically for researching their buying choices. And the housing industry needs to take notice.
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