Commercial Property
New Studies From Del Webb Show Kids Boomerang On Boomers
They want to enjoy life, take it easy, travel. But the once-78 million strong "Baby Boomers" may not get the chance, if aging parents and boomerang adult children have anything to say about it. The 2004 Del Webb Baby Boomer Survey has some revealing things to say about Empty Nesthood and Boomers, where participants said they were emotionally prepared for the kids to leave the house (58 percent); they felt an increased freedom to be themselves(57 percent); they felt like newlyweds again (26 percent); and of greatest interest to Realtors, they will move to a new home when they become Empty Nesters (36 percent) including, not surprisingly, considering a purchase in an age-qualified active adult community (26 percent.) Boomers are the babies born after World War II from 1946 to 1964, a generation known for self-expression, social conscience and activism. Because of their sheer size and proven materialism, the Boomers are catered to by marketers such as builders. Del Webb is a division of Pulte, one of the first to study and then build communities and housing to appeal to the Boomers, has found that they must constantly update information about this mercurial demographic. For one thing, it doesn"t look like Boomers are going to give up working. "They are years from retirement," says Mark Marybee, spokesperson for Del Webb. "They want to be near jobs." And if they thought they were going to be free of responsibility, that notion has changed, too. Many don"t believe Empty Nesthood will last very long. In fact, 25 percent of Americans ages 18-34 still live with their parents, says the U.S. Census. Of that age group, 56 percent are men and 43 percent are women. That"s not likely to change - 62 percent of college students say they expect to live at home after graduation. "One-fourth of our participants expect at least one adult child to come back at some point," suggests Marymee. And they may need another spare bedroom for aging parents. Boomers are quickly being called the "Sandwich Generation" as they take on housing for aging parents as well as child-rearing. Twenty-four percent of survey participants believe that their parents or in-laws will eventually move in with them. While one-half say they would be happy about the arrangement, 17 percent say they would be "eager" to find their parents or in-laws other living arrangements, and a parsimonious eight percent would charge their parents rent. In stereotypical Boomer fashion, they want it all. Forty-four percent want a smaller house, and the same number want a house with less maintenance. In adult communities, they want their homes peppered with high-tech and security features, they want social activities and fitness programs. Money may also be an issue, with only 36 percent believing they will have enough money to retire comfortably. Forty percent aren"t sure, and 25 percent are do not think they"ll have enough. This information gives a mixed message to homebuilders, who don"t know whether to build larger for the Sandwichers or smaller for the Empty Nesters, and there may also be a message to include some less luxurious options for in homeplanning for Boomers who aren"t as well off as their peers. "We"re trying to digest all the information," says Marymee.Web Designers Singapore commented:
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02.05.2012