AARP put out a bulletin recently that offered some surprising statistics about Baby Boomers and our living arrangements.
Only about one in four baby boomers are still married, living together, and have adult children out on their own. The numbers show that our of 17,000 baby boomers surveyed, 37 percent still had children under 18, and another 5 million had grown children who moved BACK home in the last year. Better them than me!
Others have taken in their parents to help, and a whopping 23 million baby boomers are single.
8 million of the mentioned singles never married, 4 million live with a partner outside of marriage, and the rest are divorced or widowed.
With numbers of singles like that, the condo market can do nothing if not grow and thrive. It would have been interesting to see where the survey respondants lived. I would think probably the metro areas would be the choice of the majority, at least until they retire. Condos for sale should soar everywhere, eventually.
It may be a good thing that the midwest and west coast aren't all that aware of life in Myrtle Beach, or we'd be swamped with retired boomers and prices would jump twice as high as they already have.
I can't imagine living in some place like Chicago when you can have the beach, the warm weather, and still enjoy all the amenities that are found in big cities.
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Hi Jan:
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Carol Pease, ABR, CRB, CRS, e-PRO, GRI
Certified e-PRO Trainer