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Archive for category Housing

Home ownership rates for baby boomers dips

May 14

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Decreasing home ownership rates could result in higher poverty rates for the elderly in coming years, a new study of baby boomers indicates.
The study, to be launched by the Family Commission today, surveyed nearly 2000 people, aged 40-64 years, and found their home ownership rates half what they are for those currently aged over 65.

Research lead editor Charles Waldegrave said the decrease in home ownership could have a significant impact on social housing issues as the baby boomer generation became elderly.
odt.co.nz

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More baby boomers expected to spend golden years south of border

Apr 23

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By KATHLEEN KIRKWOOD

WALNUT CREEK, Calif. — Brad Billingsley could have been waiting for his tee time at an Arizona golf course.

Instead, the former Lafayette, Calif., resident and his wife Linda were in a lagoon off Cabo San Lucas, Mexico, snapping photos of gray whales bobbing next to their small charter boat.

“Every day, it’s an adventure here,” Brad Billingsley said. “It’s added 20 years to my life.”

Brad, 62, and Linda Billingsley, 61, are among the “silver surge” of baby boomers seeking alternative retirement nests in Mexico, according to a recent report by the International Community Foundation.

t’s not certain how many U.S. retirees are living in Mexico – a 2004 study puts the number between 500,000 and 600,000 – but the foundation and other researchers say an increase is likely as more boomers settle into their golden years and find Mexico an affordable alternative. Almost half the retirees living in coastal areas are getting by comfortably on less than $1,000 per month, said the report, which cites the growth of real estate projects targeted at retirees as proof that aging Americans are flocking south of the border.
ledger-enquirer.com

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Ageing baby boomers mean healthcare sector is in its prime

Apr 16

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It’s no secret that health and aged-care property is one of the growing segments within the overall sector.

All major property developers are in the business of either building or buying up aged-care properties.

The chief executive of the commercial property business for Stockland, John Schroder, said in a speech at the Committee for Economic Development of Australia during the week that as the baby boomers (who turn 65 next year) entered retirement, there would be an increase in demand for higher-quality, more-innovative living solutions with greater access to essential community services.

”We’ll need housing options that suit retirees and are generally located close to where they live now and to where their families live,” Mr Schroder said.

”We need to be smarter about the co-location of retail, residential and office property and move towards a more integrated mixed-use and master-planned approach to creating regional hubs where people can work, shop and live.”
smh.com.au

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Three Challenges to a Recovery in Housing

Apr 15

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By CHARLES HUGH SMITH

In a recent New York Times story, economist Robert Shiller, co-founder of the Case-Shiller Home Price Index, warned that the nascent housing recovery might not yet be sustainable. Why?

Shiller believes that public sentiment, fueled by what he terms “sociological processes” such as media coverage and water-cooler conversations, is a fundamental driver of housing demand. When the conventional wisdom about the sustainability of housing’s upward trajectory reversed — in essence, from the belief that “housing never goes down” to an awareness of a historic bubble in valuations — then the housing bubble burst.

So the recovery in housing prices, in Shiller’s view, requires a new public enthusiasm for housing as a great investment.

While public sentiment is one driver, there are three other drivers that Shiller did not address: demographics, the specter of inflation, and rising interest rates.
dailyfinance.com

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Baby boomers can’t wait to downsize – their homes

Apr 15

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By JUSTIN SADLER, OTTAWA SUN

With rain in the forecast, it could be a soggy couple days and nights for about 20 people lined up outside a developer’s sales office in Ottawa’s east end.

The eager crowd is waiting for Tamarack Homes to release about 51 homes on Friday in the latest phase of development in its Chaperal community near Innes and 10th Line roads in Cumberland.

One young buyer has been waiting since Monday for a chance to snatch up a new home on a premium lot. Many of those in line were taking shifts holding places for friends or family and were too embarrassed to give their names when approached Wednesday.

All but two prospective buyers Wednesday afternoon were baby boomers, looking to get into one of only 29 smaller bungalows the developer is building.

“We want to downsize and there are only so many of these models available,” said one woman who has lived in Orleans for about 30 years.

She’s been waiting for about two and a half years after she missed the opportunity to purchase a home in a previous stage of the development.

“I’m retired now, but I want to stay in this community,” she said.
ottawasun.com

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More baby boomers expected to spend golden years south of border

Apr 12

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BY KATHLEEN KIRKWOOD – CONTRA COSTA TIMES

WALNUT CREEK, Calif. — Brad Billingsley could have been waiting for his tee time at an Arizona golf course.

Instead, the former Lafayette, Calif., resident and his wife Linda were in a lagoon off Cabo San Lucas, Mexico, snapping photos of gray whales bobbing next to their small charter boat.

“Every day, it’s an adventure here,” Brad Billingsley said. “It’s added 20 years to my life.”

Brad, 62, and Linda Billingsley, 61, are among the “silver surge” of baby boomers seeking alternative retirement nests in Mexico, according to a recent report by the International Community Foundation.
newsobserver.com

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Assisted Living Centers Cut Costs, Negotiate Fees

Mar 7

Posted by Boomer in Housing | No Comments

Assisted living facilities are slashing costs, negotiating fees and offering more services, as operators adjust strategies to attract more residents in a tough economy.

Assisted living isn’t exactly recession-proof, but it has a solid customer base because it’s need-driven business. If an adult has health problems that make independent living untenable, then a move must be made, despite the cost or current economic conditions.

Also, demand for all types of senior housing, including assisted living, will rise in the years ahead as 75 million Baby Boomers reach retirement age and the number of Americans 85 and older grows.
nytimes.com

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Rescuing Real Estate

Nov 5

Posted by Boomer in Economy, Housing | No Comments

How baby boomers are reigniting the housing market.

By Linda Stern | Newsweek Web Exclusive

The battered housing market is getting some help from an unlikely source: retirees. Baby boomers on the cusp of collecting Social Security are bringing some much-needed vitality to the real-estate sector as they capitalize on reduced prices and low mortgage rates by lining up their next homes a few years early.

Before the crash, older home-buyers were already big players in the real-estate market, and now their influence is growing. According to the National Association of Realtors, people over 55 bought 21 percent of the homes that were sold in 2008, up from 13 percent in 2001. Now, roughly one out of every four baby boomers owns either a vacation home, land, or a rental property in addition to the home that they live in. And some shoppers are looking for transitional homes that they can vacation in now and settle into when they are ready to retire.
newsweek.com

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49% of Boomers Want ‘Green’ Homes, But Only 12% Would Pay More

Sep 24

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boomer-extra
The green building sector could get a shot in the arm as legions of Baby Boomers ease into retirement. While survey respondents indicate a desire for more green homes, there is a disconnect between desire and willingness to pay, according to a new survey from the National Association of Home Builders (NAHB) and the MetLife Mature Market Institute.

About 37 percent of potential buyers said they wanted an “environmentally friendly” home but just 12 percent said they would pay extra for one, according to the survey “55+ Housing: Builders, Buyers, and Beyond.”
environmentalleader.com

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