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December 30, 2013 10:54 am
This past week I was reminded again about the visualization of the baby boomer generation looking much like a basketball making it’s way through a garden hose. With the first baby boomer having turned 65 years old in 2011 and 8,000 of this cohort “celebrating” a 65th birthday daily, we are being bombarded regularly with messages about how this generation will impact virtually every aspect of life. Even the National Association of REALTORS® (NAR) didn't have a break-out session at this year’s NAR Conference in San Francisco devoted to dealing with the senior client, 55+ living options, or multi-generational housing needs. This despite their own reports indicating 1 in 4 home sellers as being over the age of 65 last year. Regardless of your city, county, or state, this trend and need for suitable housing to serve the needs of not only our aging boomer generation as homeowners, but more importantly, their needs as primary caregivers for their rapidly aging parents and relatives, is only going to accelerate in the coming decade.