The Real Deal New York

From the January issue: Move over, boomers. In the current down economy, Gen X buyers are the ones brokers want. In a surprising twist of fate, baby boomers paralyzed by crippling stock market losses are being pushed aside in favor of these buyers, who despite their thin credit histories and predilection for borrowing from their parents, are more active in the market. In recent years, baby boomers who were on the verge of retirement commanded much of the city’s real estate buying power, from high-level executives splurging on trophy homes to suburban empty nesters snapping up city pied-a-terres. But while their boomer parents are now reluctant to buy or sell homes, younger buyers are often forced to move despite the sinking economy because of life changes like marriage and growing families, making them a key demographic in a recession.