Baby boomers, the generation born between the mid 1940s and early 1960s, are approaching retirement age. This transition presents unique opportunities for the industry, as their retirement could potentially mean a move and a need for more age-appropriate and downsized housing.
Past generations of retirees have followed a similar pattern of down sizing or relocating to a retirement or golf community. This means that this large part of the population may search for more adaptable and convenient housing such as maintenance-free condominiums or townhouses, master-planned or active-adult communities, or age-restricted neighborhoods.
In order to meet this new demand, it is important to understand the changing needs of the older population such as the desire for health, wellness and social activities.
Key points:
– Baby boomers are approaching retirement age, providing potential opportunities for the industry as they may search for new forms of housing.
– Previous generations of retirees have followed the pattern of downsizing or transitioning to a retirement or golf community.
– To meet the needs of the older population, it is important to understand their changing desires such as health, wellness and social activities.
You can read this full article at: https://www.housingwire.com/articles/a-boomer-market-on-the-horizon/(subscription required)
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