Posted January 29, 2010 by Paul Bordelon

Builders and Baby Boomers in 2010

As the 2010 housing market picks up momentum, many builders across the nation are once again focused on catering to Baby Boomers.  In the 70's and 80's, they were credited for such huge increases in the U.S. housing industry.  They are now predicted to be on the move again, and by 2014, there will be more than 85 million people in the 55 or older category.  That's a quarter of the U.S. population!  It's no wonder why builders are trying to tap into this market.

The question on many builder's minds is, "what exactly are they looking for?" Is it smaller square footage, single story vs. two story, or a sense of intimecy in the neighborhood community. For many, being closer to family, has been ranked as one of the most important factors for this group. Rightfully so, I don't know of any grandparent that wouldn't want to be closer to their grandchildren. I know this first hand as my mother lives next door to my grandmother. They literally took down the fence between the two properties and have made a "family compound" effect at the end of the cul de sac.

Energy costs ranked highly as another growing concern for the 55 and up sector. With many on the verge of retirement and those already retired, keeping the variable expenses to a minimum is crucial for those on a fixed income. I'd personally like to see more builders offer green products, features, and incentives to perspective buyers of all kinds. The trend to "go green" and offer a more sustainable lifestyle has been on the rise for some time now and as more demand it, builders will eventually get the hint.

It's estimated that the baby boomer group will account for more than 250,000 home purchases by the end of the year. If the prediciton is correct, the 55+ will have a considerably positive effect on rebuilding the state of the economy.