Tidal wave of 21m homes but who will buy them?
 

Although we have already made the commitment to live in TV, it is interesting to conjecture on who will follow and how the TV community will respond to different times. Local TV leaders are constantly asked to plan for the future and to finance things based on projections out to 30 plus years in the future. So, I find this Wall Street Journal article on the Fox News web site interesting.

Baby boomers may put '''tidal wave''' of 21M homes on market -- but who will buy them? | Fox News

The homes they leave to move elsewhere may well be the beginning of a slum. That is one of the factors.


One of the first subjects I was given in college to write on was;

Do slummy people make slums or do slums make slummy people?

Very complicated, urban decay.

Our children and grandchildren will be heirs (Generations X, Y and Millennials) to many of the homes you speak of. Much depends on how well our children and grandchildren want to live in a place called The Villages. My guess many will love The Villages lifestyle just like many of us None of us have a “crystal ball” but I wouldn’t bet against The Villages standing pretty tall 50 years from now.

At age 53 I have given this much thought as I see the younger generations not as interested in owning homes or property of any kind. You can actually see a bit of a divide between the northern and southern sections of TV. The value in the north is not of that in the south yet the homes are very new by home standards. Interesting subject and only time will tell. I think the key is make yourself happy and let the heirs determine the rest.

Most homes when new in the north section was 1/2 or less the price of new homes in the south. Time will tell if they can double in price as they get older?

We are here from Minnesota, and I see a lot of the young generation buying houses. In fact they want what it took their parents years to buy. So based on my family and friends family's the villages should thrive for years.

I agree, I’m a second generation Villager. TV changes, mostly for the better and adapts so the next generation’s interests will be reflected. So far, I’m a happy camper. Makes me think TV will go on, and on.

Another youngster investing in their future (same as me 😃).
Interesting comment about younger generations. We see the same thing in the UK. My parents saved hard for their first house. Moved in with no furniture. I did the same. Sacrificed life for a home. Now I’m ‘old’. (53), I can look to retire young move to TV and enjoy my missed youth. British kids seem to have a different approach. Lavish holidays, nice cars (mine is 14 years old), fine clothes nice restaurants. That is more important than saving $2500 a month on rent and putting it into a mortgage... still they lookto usand our parents and think ....

Trees don’t grow to the sky. The next generation will prefer the climate of warming Siberia with its pristine environment.

Though many boomers complain about the millennial generation (and I'm guilty of it), a recent article I read indicates that they have grown tired of living in cities with the high COL, having to rely on public transportation and so forth and that they have begun a slow migration to suburbia. There are also more of them than our generation, so there will be competition to buy boomer homes. An added benefit is that because of their numbers, the Social Security crisis should be fixed without Congress having to do anything.

I dunno, boss.

2804 Larranaga Dr, The Villages, FL 32162 | realtor.com(R)

I am having fun and know you are - Happy Thanksgiving!

Homefinder - The Villages(R) Homes and Villas for Sale

:agree:

There are 76 million baby boomers, and 87 million millennials. The millennials are growing tired of living in the cities and they are growing up. Know as the me generation they are now entering the housing market. I’ve read that a lot of baby boomers aren’t selling but retiring in place creating a housing shortage. In my area homes under $250k, in good shape, are selling fast with multiple over list price offers. So real estate agents I know would welcome more inventory to sell. To top that, I also heard the millennials are even starting to golf! The Villages will be fine, so will social security if politicians keep their hands out of the cookie jar.

A quote from FoxNews about this topic. "Although all of these homes will be hitting the market, they will be located in areas where most of the younger generations don’t want to live. The areas that will be impacted the most are traditional retirement communities, including Florida and Arizona."
Boomer homes to flood US market, but who will buy them? | Fox Business

I would hate to think that FoxNews would be wrong. There are many divergent thoughts on this subject which doesn't help long term TV government planning.

My home on a championship golf course has almost tripled in value north of 466, so I'm not sure what youre6talking about that values north aren't rising.

First world problem for the next generation. Didn't buy down here worrying about resale. Next home will be about 6 and half feet long and 20 some inches wide with a top.

Who will buy houses in the future?


Millennial's - Richest Generation (Poke Here)

People move to Florida for the weather, so as long as it is cold and snow up north, people will be moving to Florida.

Don’t tell that to the government, they will want to grab a big chunk of that wealth transfer.

The sky is falling, again.






.

No worries, just went outside and looked up into the sky. Everything is in place and nothing is falling!

graciegirl: “I have read that 40% of all Americans don’t have $400 bucks in the bank”. I’ve read the same. Yes, there are many successful young folks out there that fall into another category of working hard and making more money than grandpa and grandma combined did at their age. Large cities like N.Y. And Chicago are great places to visit but not for me to live there.

I couldn’t agree more. During my long career in finance/investments/portfolio management, I was often recruited by just about every investment banking firm on Wall Street. I could have easily made over ten times what I earned during my career, but there was no way I was going to sacrifice the quality of life that I enjoyed living in the country and commuting to Hartford. I can happily say that I will never go to NYC again in my lifetime.

I have three boys under the age of 31 all are employed, two are college graduates and they are exactly what you describe. Add in they don't even seem to care a bit about marriage. I guess we are the old men who will soon be yelling to stay off our lawns. Have a great day and I hope we both end up in TV first drink is on me. Enjoy!

They are valued less because they have less amenities and are farther away from the squares

home inventory
 

Reports indicate that the current inventory nationally is sufficient to meet the demand for the next 25 years. (of course that ignores negative and positive growth areas). After the baby boomers are gone (meaning us) there will be fewer people in the 55 plus age group

Even after the year 2040, there are over 250,000 people retiring EVER MONTH.


Plenty of demand for warm Florida or Arizona.




:popcorn:

You might find the baby boomers from all of south Florida moving to TV land, like we did. Really low land elevation will have problems with water intrusion in the coming years. We were at 5 feet above sea level and got tired of mandatory evacuations during hurricane season. We are now around 90 feet above sea level. How long will it be before banks stop loaning money for homes in low lying areas? I think lots of people in south Florida might find TV land their next move. And I agree about the future.

Think of the values in TV with beachfront property lots.



:)

According to a recent poll in NJ, 50% of NJ residents plan on bailing out of NJ in 5 years--these people are mostly under 40--primary reason taxes & COL

I thought it was because New Jersey's sweet corn and tomatoes were not quite as good as Ohio's.

Which is almost as good as Iowa's.






:clap2:

Maryland’s Silver Queen corn grown on the Eastern Shore was my old favorite although it has been succeeded by newer varieties.
The History of Maryland’s Silver Queen Corn — Hearn Kirkwood

That reminds me of a joke. Why do New Yorkers always seem to be in such a bad mood? Because New Jersey is the light at the end of the tunnel.

Boy O' Boy. The truth hurts. :clap2: It's really not as bad as we make it seem other than Traffic, Corruption, Pollution, and TAXES!

You don't know corruption, until you were a contractor in NJ & NY--sometimes I refused to work in certain municipalities, because I wasn't "connected"

THERE is not a tomato that comes close to a real NJ beefsteak & as far as corn goes Jersey Silver Queen ranks with the best--thinking about tomatoes, why did Cambpells make all there stuff in Camden ?

Isn’t NJ known as “The Garden State”?