According to the trusted Wall Street Journal, Aging "Boomers" are responsible for the rising demand for Condos, Townhomes, and Multi-Family dwellings. I find this to be TRUE as well!
I just listed an amazing penthouse unit in Sherman Oaks, CA and the market response this first week of 2014 has been tremendous! We have had our fair share of young couples coming through, but primarily I have witnessed older couples, downsizing from their large homes around Los Angeles and even across the country on the East Coast come through this lovely condo at www.14960Dickens.com looking for their "downsized" luxury home to unwind and enjoy retirement in....
The full article elaborating on this new market phenomenon is here: http://blogs.wsj.com/economics/2014/01/07/aging-boomers-to-boost-demand-for-apartments-condos-and-townhouses/