Today’s younger nonretirees are more optimistic about being able to retire at age 65, compared with an expected retirement age of 68 for those aged 40 and older, a statistically significant difference.

What About Being Comfortable?

Unfortunately, the poll also found a new low of 38% of nonretirees saying they will have enough money to live comfortably in retirement. It seems the number has been below 50 percent since 2002.

Naturally, this decline in expected financial comfort in retirement directly equates to the decline in the percentage of all Americans who are able to live comfortably in current times.

What Does This Mean?

Expectations for retirement have changed in recent years, due to the economic issues like housing bust and stock market volatility; however there are also serious questions about Social Security and Medicare’s ability to sustain retirees in the future.

As the economy begins to strongly move in a more positive direction, Americans are regaining some optimism about their retirement.

What do you think? Has retirement changed permanently, or are we experiencing another cycle that seems to mirror the economy? We’d love to hear your comments below or on our Facebook page!

There is a predicted Boomer comeback among builders, only this time the market and their needs will reflect a simpler product line. Land planners now have an opportunity to rethink community and home designs that were originally intended for that age group.

Retiring Boomers are still privy to developments restricted to older buyers, but they are seeking a greater variety of home styles than were offered during the housing boom.

The recession has resulted in less money to spend and brought about requests for less space than previously desired. Successful developments are actually scaling back home sizes by 200 to 400 feet.

With the possibility of younger Boomers continuing to work at least part time post-retirement developers should consider creating space for home offices in their floorplans.

Among the most popular amenities desired, walking trails and fitness centers are still number one on the list. Gated access and the feeling of security also play into the overall picture.

What other features do you think today’s Boomers are looking for? Do you think the 77+ million Boomers are a strong voice in market demands?

Will a market exist for their homes when they are ready to sell? Only time will tell. However, the income constraints and lifestyle demands of a shifting population may dictate a very different future for real estate.

These changing needs along with the demands of the expanding Echo Boomer generation is forcing the real estate market to respond in new and different ways.

According to a 2009 study by RCLCO, both retiring baby boomers and maturing echo boomers are looking to move away from the suburbs they’ve spent their lives in. Both groups reported wanting to live in more urban, mixed use, mixed age areas that offer services, community and walk-ability.

How does this changing market most affect your business?  Share your successes and struggles with us here on the blog, or on Facebook or Twitter.

Out of state real estate shows in the northeast bode well for prospects. We are still talking constantly with the Baby Boomers who are ready to move on with their life, as we have been and will continue to do so for the foreseeable future.
The Settings Development Companies, which has properties in GA, SC, and NC, has attended real estate shows out of state through RPI Media in Reston VA (DC area), Chicago, IL, Long Island, NY and Parsippany, NJ. Each show was attended by 600-900 couples, specifically to have the opportunity to look at approximately 45-50 developments throughout the southeast. These folks have either been invited to stop by to see a certain community or have purchased a ticket to come to the show; they are all there to see what they have as an option for retirement, pre-retirement, or a second home.
I went to the DC show and personally met with couples that were there. They were still tired of the cold winters (a severe winter up north always leads to a good spring down south) and the crowded hustle and bustle of the cities, not to mention high taxes. Most were ready to get to the sunny south.
The bottom line is that there has been a great response so far in 2009 and many appointments were made from these shows. We know from experience that they will lead to a certain percentage of sales and closings through a professional presentation! This initial positive response puts us and other communities I talked with way ahead of last year for the first and second quarters. These buyers feel the “brevity of life” and “can’t wait on others to fix the economy”. They want to get started on the “rest of their life’s plans” even if it will means scaling back some.