Friday Facts – A Retirement Boom Will Change What Houses Look Like

FRIDAY FACTS
November 27, 2015 

TAKE-AWAYS FROM AN ARTICLE IN INMAN NEWS BY GILL SOUTH:
RETIREMENT BOOM TO CHANGE WHAT HOUSES LOOK LIKE

  • A surge in retirement will slow U.S. economic growth and create unprecedented levels of housing demand for 65 plus year olds
  • The 65-plus population will grow by 18 million people in 10 years — a 38 percent increase — and will need housing
  • There will be a growing trend for multi-generational living and an increasing demand for two master bedrooms
  • Three-bedroom, single-story homes with small yards will be popular
  • Agents have always been conscious of marketing homes with information about school zones, but this information is currently relevant to a minority of homebuyers. Only 29 percent of households now have kids
  • Urban and suburban areas will far outgrow rural towns.
  • There will be big first-time homebuyer demand and big retirement housing demand.
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