Quote:
Originally Posted by justjim
With the cost of living in The Villages continuing to climb is it sustainable? We moved and purchased here 17 plus years ago. Some years prior, we met and shook hands with Harold Schwartz during our first visit. We have seen and experienced some “things” in The Villages.
My wife and I grew up in a coal mining town. I can remember going to “the company store.” The town was prosperous and growing until it wasn’t. The mines closed, many moved and the owners left town with most of the money. Population is half what it was. You could buy a house for a “song and dance.”
Will the next generation of retirees be able to afford The Villages? With insurance, taxes, amenities and maintenance costs continuing to climb will those on fixed income be able to stay in The Villages? What could happen to real estate values? In 15-20 years will the Developer close up shop, sell and leave? Is The Villages, as we know it, sustainable for the long haul? I can think of other scenarios but you see my point.
|
The Villages isn’t for everyone, and I don’t say that to be elitist. It’s not the cheapest alternative, and it’s always been somewhat difficult for people who have only Social Security, never earned much, and didn’t have much equity in a home before moving here. However, there are many areas of the country where average housing is more than here. Many “fixed incomes” like Social Security have cost of living allowances that help a lot. Many people sell their homes elsewhere and have enough equity to move here and pay cash. The amenities fees are very reasonable indeed. I know people who live in trailer parks within twenty minutes of here who are paying $450 to $850 for a tiny lot for their trailer. People who retire today with only Social Security may have been earning a lot more than you earned before retiring and so may receive much higher Social Security. I think there will continue to be a market for both used and new homes in The Villages so long as it is kept immaculate the way it is now. There are plenty of small towns across the country where a three bedroom ranch house that is just fine sells for around $100,000, and those people will have a tough time buying here unless they have another source of income, but there will still be plenty of people. I think the biggest problem is home insurance rates. The state needs to solve that, perhaps by limiting lawsuits. But not everyone needs to move to Florida. And if you worry about there not being enough people to keep buying homes here, don’t complain about there being too many people.