Meryl Lynch has recently released a study regarding the aging baby boomers and how they are going to affect the housing industry over the next decade.
With many of the boomers entering retirement age, it projects that we will see an increase in design of homes that can accommodate these retirees as well as a sense of freedom for those 61 and over to be able to move and live where they want. The idea behind this concept is that most families have obligations to their family members, jobs, etc to live in a specific area and in general those surveyed show an average age of 61 for freedom from those obligations.
Another interesting finding was that while the economic downturn assumedly left the younger generations wary of home ownership, this is not the case. A majority of all age groups, including the younger generations still rate homeownership in the top of their priorities.
That last tidbit of information we wanted to share from this treasure trove of data is that while most people assume retiring individuals are downsizing, in actuality only 52% of the people that moved during retirement were to downsize. Actually 30% pf these individuals actually moved up in size of home. On top of this, they have ranked Idaho #2 with 7 other states with the most people happy with their climate.
For more interesting facts from this study, click here.