Quote:
Originally Posted by jimjamuser
As to the 1st sentence.......I read that to mean that around the WHOLE US the selling price for equal houses that a retiree in a 55 plus would buy is 10% cheaper than that in an any age area. I am then thinking about all the differences between LOCATION like between upstate New York and The Villages. Then there is the size of the over-55 community where a small one golf course community would be worth less than one with as many as TV-Land. Then, differences of climate and state government and taxes. IMO those are too many variables to make a blanket statement like that 1st sentence. If I interpreted it wrong, I apologize in advance.
As to the 2nd sentence.....let's say it is GIVEN that it is true, Then I don't understand if that WOULD favor the SELLER / The Villages or favor the BUYER / new resident ?
........There is another confusing thing about that 1st part of the 2nd sentence. let us assume that the average in an over 55 community is SAY (?) age 70 and the average age in a non-age community.......the parents SAY (?) would be about age 35. So, you can't change the non-age community. So, you would HAVE to change the age-controlled community to say over age 45 in order to "NARROW the age demographic" as you quoted.
.......As I interpret that, it would make the 2 age groups more similar and would RAISE the cost of homes for the over-age 45 group - thus decreasing the price disparity between home costs for the 2 groups. Which is OPPOSITE to the conclusion of the 2nd sentence. I am sure that you seem to understand these home costs differences better than I do, but I am still confused despite trying hard to understand.
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31% of the Population in FL is under 25 Years old ... unlikely home buyers.
61% are ages 25 - 74. Home buying age and potential buyers.
19% are ages 55 - 74.
Your available population (market) for age restricted housing, is 1/3 of all available buyers.
All things being equal, as you reduce your available market, prices decrease.
This is true in most areas, but I know of a specific example in Trinity, about 20 miles North of Tampa. Side by side, comparable sub-divisions. 1 age restricted, one not. The "premium" to buy in the non-age restricted sub-division is about 15%.