Are "Baby Boomers" Still Viable Candidates For Home Ownership? Or Will They Be Just As Happy To Become Renters?

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Home Builder with CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS 521400, 1501015, 01795582

Are "Baby Boomers" Still Viable Candidates For Home Ownership? Or Will They Be Just As Happy To Become Renters?

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10,000 Baby Boomers will be hitting retirement age everyday for the next 15 to 20 years. Many if not most, and I am one of them, currently own large 3 to 5 bdm homes with big yards and lots of ongoing maintenance issues. They're now starting to downsize by the thousands. Anybody have a crystal ball? What do you think all these folks will do for housing for the rest of their lives? I've got my thought but I'd like to get your's before I share mine.

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Rainer
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Brad Rachielles
CENTURY 21 Peak, Ca BRE# 01489453 - Upland, CA
REALTOR, CDPE, Upland, CA

John, As I see it, No rent, No mortgage and No maintenance would be the best of all worlds. Equity to pass on would be great for the grand kids (or great grandchildren) college fund. Downsizing with a cash purchase and with cash producing leasable land to cover taxes plus would likely work.

Oct 11, 2011 04:05 AM #1
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John DL Arendsen
CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS - Leucadia, CA
Crest Backyard Homes "ADU" dealer & Contractor

I think you're spot on Brad. I started my career in the RE biz in the 60's developing what where then "Mobile Home Parks". I saw first hand what the post WWII generation did. They couldn't wait to sell their home that was paid off, take the cash and buy their RV and the "Good Sam" and/or "Thousand Trails" membership and that little single or double wide mobile that they could call home whence returning from myriad road trips.

I'm not suggesting that there will be a return to that style but I do see a trend towards well planned mid to high end leisure retirement communities that are starting to decorate the landscape from Sun Coast to Sun Coast and many in between.  Thanks for your comment.

Oct 11, 2011 04:37 AM #2
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Shannon Garcia

I would like to help my mom get in to something else just like your talking about. she is 70. Please help direct me in the right direction.

Mar 29, 2012 03:15 AM #3
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