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33 Comments on 10,000 Baby Boomers Turning 65 Every Day For The Next 20 Years
Indeed, we Boomers are reaching that special age and in this business, we can keep on working!
they think and act differently and have mind sets that anyone in business should study and learn about too
What is going to happen to all those 4,000 SF McMansions with the two story foyers on 3 acres of land way out in the burbs? Downsizers play a big part of my real estate market. They want to be able to walk to stores, be close to the water or even have water views. They don't want a lot of land. They do want a first floor master bedroom suite, high end finishes, and move-in condition. They will pay a premium for that.
Home Realtors of Idaho and Alan. Sorry gentlemen but you two don't look old enought to be in my club. Or is it that I'm looking a lot older than you two. You're wearing it will gentlemen. Whatever you're doing keep doing it.
Joan, You're spot on. I remember the stampede of the 60's whence 30+ million post WWII (The Greatest Generation) began and the craze was to sell your home that you raised your kids in and owned outright to purchase that one-ton dualy extended cab and a 5th wheeler.
They would then set out on a mission to hit all the Good Sam and Thousand Trails travel clubs they could get to in one year then return home for the Holidays and host Christmas for the family in that doublewide (wobbly box). They couldn't wait to take off right after New Years on another exciting adventure. This I know is a fact as my own parents did just that for 15 years and had the time of their lives.
Gretchen, They will or they'll miss out on one of the biggest housing booms since Post WWII GI's returning home building boom.
The numbers are staggering Judy and it's going impact our overall economy and housing market for the next couple of decades.
That is a huge statistic. Where's it from? It is also one that make a huge impact on the market. Nice post!
Carie, I thought it a bit overwhelming as well albeit not a surprise as it's been someting I've pondered since I was a Junior in high school civics.
Thanks Robert, You're right about the financial opportunities. BB's are also one of the wealthiest demographics in the world and have and will continue to set new benchmarks in every realm of the economy be it housing, healthcare, fashion, food and travel. We will surely lead the field. As a group, we are the most affluent Americans, with three quarters of the nation's financial assets and an estimated $1 trillion in disposable income annually.
Ditto that Christine. Get ready to start selling those "Wobbly Boxs"
Phil, Lot's of short cropped blue heads in front of you no doubt. LOL! Janis and I will be checking out Merigold soon.
Valerie, Janis and I absolutely fell in love with Victoria. We purchased some property in Sequim, WA in the 90's and ended up spending more time in BC than WA. LOL!
Richard, It's going to be weighing on a lot of folks mind whence they realize the overwhelming upside potential we BB'ers bring to the table. It's a sleeper you don't hear a whole lot about in today's turbulent and volatile socio-econonic malaise. But we've got lot's of money to spend and we're going to spend it somewhere.
Rob, with 77 million voters I'm sure they'll wake up and smell the roses.
"The Real Debbie Reynolds" I love it. Not only was Debbie my most favorite actress while growing up it was also the name of my high school sweetheart and first true love. But thankfully I found a Janis who has captured my heart for the past 4 decades. I guess that makes me a BB too. LOL! I've got to make you an associate. Thanks for the comment.
Barbara, lucky us that we can keep working. LOL! Actually Janis and I love to work. I actually tried to retire in '07 and got bored within 6 months so I got my RE license and then my Brokers license and have managed to redifine myself somewhat.
I'm not a golfer or a fisherman and this 66 year old bag of bones can only surf a couple of hours a day when there's waves. So that just left too much idle time on my hands. I'll work till I graduate to that great RE brokerage in the sky.
Richie, I'm not so sure I think and act much differently than my 5 kids or 12 Grandkids but our mindsets are definitely worth a study. Our generation started out being trendsetters with Gerber to Pampers to Campbells Soups to McDonalds, to Motorhomes to Manufactured Homes.
We are now poised to lead the economic and financial field for the next 20+ years. Marketers better be watching and listening. We are inded a group to be reckoned with and will no doubt influence R&D, Healthcare, Housing, Banking, the stock market and the retail industry for sometime to come.
Gail, that's a great point and one to be taken very seriously. That's why I see a cottage industry turning into a major growth industry for the next generation of Real Estate and construction. Thank goodness I'm a RE broker, Manufactured Home Dealer, general contractor and developer. I'm poised to live out my life providing suitable housing for the next 25 years or so. It's a whole new ball game.
Sandy, It came from my 11th grade highschool Civics teacher in 1963. It really opened my eyes and has made a huge impact on my life every since. But here's a link you may want to peruse for some additional and very useful information on the subject. http://www.usnews.com/usnews/biztech/articles/050314/14boomer.htm
wow,
from a real estate perspective, a whole new market is opening up. from an economic perspective, a whole lot of people will no longer be working but collecting pensions, scaling down spending. the boomer effect is going to have a huge impact on our economies.
Bianca, if you really study the situation you will be happy to know that the BB'er's are about the best healed generation and demographic to ever come along in our economy. Take a moment to check the link below out and you will see that there is a greater upside and prosperous potential than a down side risk.
$1 trillion in disposable income annually.