How will the baby boomers and shifting demographics affect real estate markets in the next decade?
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This presentation shows all of the different forms available to baby boomers looking to rent real estate around the country.
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How will the baby boomers and shifting demographics affect real estate markets in the next decade?
- 1. How will the baby boomers and shifting demographics affect real estate markets in the next decade? EZ Landlord Forms
- 2. Increase Rental Demand • As Baby Boomers age they will be looking for one-story housing options in safe, “walkable” neighborhoods. • Apartment and condominiums will become more attractive as baby boomers age, given their lower upkeep and maintenance.
- 3. Increased Strain on Social Security • With so many baby boomers leaving the work force, Social Security will be strained to the limit. • Younger generations will feel the extra strain of the baby boomers on the overall economy, from governments’ budget pressure to parent caretaking costs to family members moving in.
- 4. Increase in Rentals • As baby boomers look to sell homes and downsize, they may be forced to lease out their homes instead of selling, due to their local economy and housing market. • It is important for baby boomers to protect themselves and their assets through lawful landlording and proper tenant screening techniques.
- 5. Increasing Number of Home Renovations • As some baby boomers move in with their children, home renovations and additions should see an increase. • The in-law suite is growing more popular nationwide, as an alternative to retirement communities.
- 6. Increase in Retirement Resort Communities • As baby boomers retire, more retirement resort communities such as Sun City and The Villages will arise around the country, particularly in retiree-friendly areas. • As retirees live longer they will look to enjoy their later years in these communities.
- 7. Increased Hospital Visits • As baby boomers age they will likely have to be admitted into hospitals more often. • Signing a residential lease with an assisted-living facility that can prevent some - and help expedite other – hospital visits can extend baby boomers’ lives and relieve the burden on their children.
- 8. Increase in Homes for Sale • As baby boomers downsize to smaller homes and assisted living facilities, more single-family homes (particularly multi- story and outlying suburban homes) will hit the market. • This will lead to higher demand for smaller homes closer to suburban centers and high-end urban neighborhoods, and a higher supply of larger, multi-story, outlying suburban homes.
- 9. Maintenance Costs • Many homes owned by older baby boomers are in need of significant updates and repairs. • Baby boomers should be prepared to spend significant money fixing issues with their homes before selling, if they want to sell at top market pricing.
- 10. Presentation brought to you by EZ Landlord Forms • www.ezLandlordForms.com • Free Resources Include: • Free Lease Agreement • Free Rental Application • State Law & Canadian Province Law Summaries • Free Live Chat Landlord Support • Landlord-Tenant Help Articles • Landlord/Property Management Q&A Forum • …and dozens of other free forms and resources!