Baby boomers bought their first home for family reasons, such as a marriage or the birth of a child, but Generation X and Y buyers are buying for a safe investment.

Other differences: Gen X and Y buyers take longer to buy than baby boomers; they spend more for their first home than boomers – 25% of their household income compared with 21% for boomers; and Gen Y buyers, the oldest of which are 27, are buying at a younger age than the others. Baby boomers were born between 1944 and 1964; Gen X, 1965 and 1978; and Gen Y, 1979 and 1994.

Source: Realtor Magazine – June 2006