(Source: The Province)

B.C.’s soft recreational property market is attracting younger Generation X buyers, a new report by Re/Max realtors says.

Elton Ash, regional vice-president for Re/Max in Western Canada, said yesterday that baby-boomers have back-stopped B.C. recreational real estate for the past decade.

But the pendulum is shifting to 30- and 40-something buyers, who want recreational homes for family-work balance, and can afford lower-priced properties.

Gen Xers account for half the demand for recreational homes this year, with boomers making up the other half, Re/Max said.

A year ago, it was a 25/75 split.

“The Gen Xers are looking at typically cheaper property . . . Buying a condo that’s across the road from the lake, but a great view of the lake. It’s $350,000, as opposed to $2 million,” he said.

Read the full article by John Birmingham “Gen Xers scan waterfront” in The Province (June 3, 2009)

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