The Mortgage Originator Success Kit : The Quick Way to a Six-Figure Income

 One in four Americans born from 1946 to 1964 own more than one property, according to a survey of nearly 2,000 boomers done this spring by Harris Interactive for the National Association of Realtors. They’re also much more likely than the total U.S. population to own their primary residences. Boomers have “an almost insatiable desire for real estate,” David Lereah, the NAR’s chief economist, said in a statement. They see real estate as “a way to build and protect a nest egg.”

Real estate ownership has become a key part of boomers’ retirement plans, says Alicia Munnell, director of the Center for Retirement Research at Boston College. That’s largely because the national savings rate is so low, she says, and the availability of pensions is declining. Unlike previous generations of retirees who tended to pay off their mortgages and live “rent-free” in retirement, many boomers see their homes as money in the bank, Munnell says. Many previous retirees also chose to hang on to a house to pass down to their children.

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