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Originally posted by drgoodvibe Actually this is incorrect. 30% of condo owners are indeed young professionals. 10% are between ages 30-45 and the overwhelming 60% is actually baby boomer's who have recently sold their suburban homes and bought a condo downtown in order to be closer to amenities within the city, community, etc.. You wouldn't imagine that young professionals living in the condo's nearby are complaining. It's the large baby boomer population / empty nester's who gave up their quiet large suburban homes for something smaller more manageable in the city. Only now they don't get the quiet so much anymore.

well.. stats seems to be slightly different down in the US

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Saturday, March 31, 2007 Toronto Condos A recent report on why Condo owners buy has just been published. The National Association of Home Builders survey says that nearly half of all condo buyers are looking for a lifestyle. Here in Toronto that's exactly how the developers promote their new projects and the list of amenities is quite large with jogging tracks, health clubs, basketball courts, media rooms, barbecues and so on. Two groups of condo buyers lead this group: young, well paid professional singles or couples who want to own their first home close to urban amenities. The participants of 1,008 Condo buyers identified location and price as the top two reasons for buying their particular property. Size, neighbourhood desirability and investment potential determined their reason to buy as well. Out of 3.7 million condos in the U.S, about 27% of the owners are 35 or younger and 18% are between 35 and 44. The survey goes on to say, 28% of all condo buyers are 65 and older while just 13% are 55 to 64 and more than half of all condo buyers are single and just 9% are married with children. New buyers are searching for the Toronto Condos lifestyle as well with the Toronto developers happy to assist them in their dream Condo.

source:
http://toronto-condos.blogspot.com/...nto-condos.html

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