Few generations have been as consequential to the United States, culturally, ideologically, and politically as Baby Boomers. This group, born between 1946 and 1964, will continue to shape the world they live in, as they have for the last 75 years. As a large group, comprised of 76.4 million people, making up a quarter of the total population, they are poised to create a dramatic shift in the age composition of the U.S. population. As it stands, they are poised to become the catalyst for the largest elderly population the country’s ever seen, raising the statistic from its current 14% to 20% by 2029. What makes this generation different from past ones is their commitment to living an active life, not only in terms of health but also in terms of their relationships with friends and family and their potential economical consumption as a group that’s amassed a lot of wealth.
Baby Boomers were the first generation to grow up alongside mass media, intent on working hard to provide for their families and purchase homes. Most sent their children to study at colleges and universities. Children who are out of the house, comfortably making them empty nesters. This group can now focus on living their best life, many of them have the financial power to do that. The question now becomes what are they looking for, exactly?
The answer seems to be new and active lifestyle communities, with smaller homes or townhouses and apartments, more suited to their needs, in size and amenities. These homes will be in more urban, big city areas, close to the water. To tick all their boxes locations will have to offer the kinds of entertainment, education and healthcare opportunities they’re looking for. Developing multi-family residential properties that give them the community aspect they’re looking for, coupled with support of their more active lifestyle, while addressing the need for mobility, sociability, and new construction. Within the new construction there need to be certain items, like high-end finishes, single-story homes with larger master bathrooms, higher countertops, gourmet kitchens and integrated technology systems. Proximity to their desired services and businesses of interest, which tend to be more accessible in urban areas are also being sought. They’ll want access to necessities and attractions on foot or in short drives. Another area of desirability will be living in communities where they won’t have to do “maintenance”, like mowing the lawn, doing yard work or cleaning pools and caring for in-home maintenance or cleaning. Communities or neighborhoods with home cleaning services and maintenance or up-keep included will also tip the scale dramatically for this group. The idea is that they’ve worked hard enough and they’re reaping those benefits in their older age.
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