“The previous generation had a very tense relationship. The Boomers, with their parents, was not a close comfortable relationship because the Boomers had been an iconoclastic, rebel generation,” McClain noted. “They [Boomers] are much closer with their kids.”

(Read More: Hitting 65, Boomers Seek Out ‘Retirement Coaches’)

Seeing the trend, developers are working fast to cash in. Construction in urban areas is booming again, and secondary urban markets, once considered suburbs, are taking shape.

In Bethesda, Md., just minutes outside Washington, DC, cranes dot the downtown, as hundreds of new condominium and rental apartments go up. High-end retailers like Apple, Lululemon, and North Face have moved in, as planners create European-style walking plazas with outdoor eateries.

“Apartment growth in the last 24 months has been significant in Washington, and we are confident that in that growth,” said John Tschiderer, vice president of development at Federal Real Estate Investment Trust, a Maryland-based REIT. “The product we are delivering in the locations we are delivering are going to meet our investment opportunities and our strategy.”

(Read More: Defying Gravity: Miami Condos Flying High Again)

Article source: http://www.cnbc.com/id/100637694

While the number of distressed homes is falling, the remnants of the housing crash are still weighing on the recovery. There are still 5.1 million properties where the owner is either delinquent on the mortgage or the home is already in the foreclosure process, according to a new report from Lender Processing Services. As banks ramp up the foreclosure process, following delays due to processing fraud over the past few years, more distressed properties will come to the market. That may ease some of the price gains, although investors, still reaping rental rewards, seem ready for all of it.

(Read More: No Money? No Worries. Home Lenders Ease Rules)

What remains to be seen is for how long those rents will stay strong? With more Americans looking to buy and souring on renting, rent rates could start to come down. In addition, new supply of rental apartment buildings will be hitting the market in force over the next two years, as developers have been increasing multi-family housing construction.

(Read More: Defying Gravity: Miami Condos Soar Again)

—By CNBC’s Diana Olick; Follow her on Twitter @Diana_Olick or on Facebook at facebook.com/DianaOlickCNBC

Questions? Comments? RealtyCheck@cnbc.com

Article source: http://www.cnbc.com/id/100592690

(Read More: Defying Gravity: Miami Condos Flying High Again)

“People are looking at this in terms of their long term future,” Schachter said. “They recognize that with the time value of money they are better off investing now, taking advantage of 20, 40, $60,000 price points, because if they look back just a half a decade ago, prices were 3-4 times what they are now. They’re looking at the market as it increases, as the economy is strengthening, and they want to buy now while it’s the best opportunity to do so.”

Residents of Century Village must either be 55 years or older or be married to someone that age. However, buyers can be any age, and that has many younger investors jumping in. They are taking advantage of good rental income and the peace of mind from knowing that they already have a place to retire. Ten percent of Century Village residents still work part or full-time. This younger set has already brought changes to the Village.

“We have classes that never existed before: Zumba, Yoga, Ti Chi, unbelievable recreation for these very healthy seniors because they are younger,” Schachter said.

(Read More: Housing Recovery ‘Fundamentally Strong’: Lennar CEO)

The community offers tennis, two pools and a full-service gym. As for the group activities, they still tend to skew older. At a water aerobics class, late one Thursday morning, the sun was shining and the water was flying through the blaring rock music, but mostly grey haired heads bobbed back and forth.

“I’m in touch with people around here, but I don’t associate with them a lot as far as socially here in the club house,” said Charlie Rocque. “Because I’m not around. I’m always working.”

Article source: http://www.cnbc.com/id/100588217

“It’s much smaller inventory, which is holding the price point, and further, the deposit structure is much more beneficial to the developer at this point, so we’re back,” said PMG’s Maloney.

Maloney has sold 100 of the 190 units he plans to build in his “Echo” development and that is without even breaking ground. The rest he hopes to entice with flash and fantasy, which is exactly what Miami is all about.

“I believe in the future,” said Argentinean Antonio Aguirre at the Echo party. “The prices are going to come up faster, so today is a great time to buy.”

(Read More: No Money? No Worries. Home Lenders Ease Rules)

At Marina Palms Yacht Club and Residences in North Miami’s Aventura, broken-down boat slips frame two new condo sites, one of which has the concrete beginnings of a first floor that has been standing idle for six years, since the developers went bankrupt.

“There’s an enormous demand. We actually didn’t think the demand would be as strong as it is today,” said Neil Fairman, of Miami-based The Plaza Group, the project’s developer.

The Plaza Group, along with the DevStar group, are getting ready to put up two 25-story towers with a combined 468 units, starting in the $600,000s. The project will include a full-service, 112-slip marina. Half the units in the first tower sold in just the past two months. Fairman said he already has financing proposed from both banks and private hedge funds.

“There’s a lot more scrutiny, they’re going to scrutinize the buyers a great deal, they’re going to scrutinize the developer’s track record. They want people with experience, they want people with hard deposits,” Fairman noted.

Article source: http://www.cnbc.com/id/100568846