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Baby Boomers and the Housing Market

By
Real Estate Agent with The Patterson Team @ Keller Williams Excellence

According to this article 10,000 Baby Boomers per day are turning 65 years old and that will continue until 2030.  This presents a very unique situation in the housing market.  More and more seniors are are downsizing from their family home and looking for active adult communities.  Is the real estate industry as a whole doing enough to keep up with this demand.  I think that 65 is the new 50 and these folks continue to live very active lifestyles.  In my area there is no where near enough active adult communities to keep up with the demand and I think we owe it to the aging population to take care of them.  What can we do as a real estate industry to help?  Unfortunately, I don't have an answer for this dilemma.  I would love to hear what others are doing.  Builders, developers, investors, I hope you see the need that is coming.  At this point all I can do is help sell their home and bring them a buyer.  I would hate to see great people leave their home state or neighborhood because they couldn't find the amenities the need.  Let me know what you are doing?

http://www.cnbc.com/id/101326818?__source=xfinity|mod&par=xfinity

 

Posted by

The Patterson Team of Keller Williams Excellence  

Ray and Stacy Patterson

Joanna Chaffee 

Call or Text 443-392-2826 for information

Email us at info@PattersonTeamHomes.com

Get a FREE REPORT of your HOME'S VALUE at www.PattersonTeamHomes.com 

See more blogs entries at: http://activerain.com/blogs/rjp3588

 

Bruce Hicks
Best Homes Hawaii - Honolulu, HI
Your Best Hawaii Realtor!

Maybe an SRES designation would be of help.  Here a lot of multigenerational living is the trend.

Jan 11, 2014 06:51 AM
Jody Siano
Keller Williams Princeton - Princeton, NJ
With You Every Step

Nj is glutted with the Active Adult community housing. We got bombarded with this 10 years ago. Then, when the market shifted, this type of housing tanked.  The state in 2009 has authorized towns to convert the approved plans that haven't been built to non age-restricted units.  However, the towns have been fighting all of the developers because they don't want to add students to already over crowded schools.

Jan 11, 2014 12:05 PM
Kaye Swain
Keller Williams Real Estate Roseville CA - Roseville, CA
Your Roseville Real Estate Agent

Good points. I would also like to see more regular homes (not age-restricted) built with simple yet practical universal design and aging in place options like at least 1 3/4 bathrooms on the main floor along with a bedroom (or at least a den that could be used as a bedroom). Grab bars are awesome for all ages as well.  And all would help seniors to stay in their homes as long as safely possible.

Jan 12, 2014 02:32 PM