As the Baby Boomer Generation moves forward quickly….Harford County is about to get a lot "grayer". Seniors struggle in the housing market because builders are obsessed with building McMansions that only the younger generation want to travel up and down three flights of stairs six times a day. The days seem to be gone of building “Ranchers”. Seniors are forced to either relocate out-of-state for Tax purposes or find that perfect Harford County elevator Condo!
One day I decided to research what the largest growing market was going to be in the next 20 years. I came across a few articles and facts that astounded me. Here are a few:
According to the U.S. Census Bureau, "the number of Marylanders 65 or older is expected to double by 2030 to about 1.2 million, or nearly one of every 5 residents." "Maryland is likely to become more crowded and a whole lot grayer over the next 25 years - a trend experts say could challenge the states' ability to house and support its increasingly dependent population."
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According to Senior Facts and Figures, "there are currently 55 million seniors and over the next 20 years, more than 70 million baby boomers (one in every four of us) will join the senior rank." "Seniors are the wealthiest consumers on the planet" according to Senior Facts.
"This consumer has the most disposable income with the greatest buying power of any other segment." "The senior population controls 77% of all financial assets in the U.S. and accounts for approximately 40% of consumer demand and over 79% of all 50 plus Americans own their own home and 67% of these being mortgage free" states Senior Facts and Figures.
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According to Met-Life studies, "there has been a steady increase in age-qualified active adult communities, and other 55+ communities. More seniors are moving to 55+ communities for family related reasons and another reason is the better quality housing unit. Few seniors are moving because they want a larger home."
"With 10,000 people turning 50 every single day and 50+ consumers accounting for more than a quarter of all new homes sales, it is the fastest growing segment of the housing industry" according to "California Green Solutions."
According to Huntington News, "West Virginia has the second highest senior population, Florida is first and Pennsylvania is third."
"Wheelchair accessible homes are hard to find" per Free Press Release.
After I read these facts I thought to myself, why aren't more builders building what the greatest generation wants - the rancher home or townhouse that is "senior ADA friendly and energy efficient" ?
Robert B. McArtor of Maryland HOMES Team with – RE/MAX Components is here to assist you if you are looking to that is more affordable for you. If you need to sell your property in Harford County that has lacked the “Up-Dates” over the years…we specialize in selling these types of homes and can sell them quickly with a qualified pool of buyers.
Contact me TODAY! by using my Quick Contact Form or Call Me Directly at 443-392-4833
