Is The Villages Sustainable?
 

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 next generation of retirees will have more wealth than the last generation. The house they sell will be worth more, wages are higher, the stock market had bigger returns, defined benefit plans (with little COLA increases) have been replaced with defined contribution plans.

As long as the Villages adapts (and the last generation seems to not like all the adaptation being made) - but they are for the next gen, not the last gen

The economics are different.

This isn’t a coal mining town, the economy of the villages is based on not producing anything’s, except an active retirement - apples and oranges.

Something new and exciting will come along. It always does! When it does, the Villages will be forgotten. Nothing lasts forever.

It seems to me, if you want to retire in a warm-climate retirement community with things to do, you'd be hard pressed to find one more affordable than The Villages.

4.4 Million people in the USA will turn 65 next year. The largest number in history. As long as they keep making old people, The Villages will be a prime area for retirement.

...and with each generation living longer, people will be looking to fill their (more active) retirement years with the sorts of activities that The Villages provides

It al depends on overall economic factors, just because a large number of people want something doesn't necessarily mean it will happen. The large number of people retiring are no longer part of the workforce, nonproductive yet still consumers, living on retirement plan income, savings, entitlement programs. The developer certainly tries to sell the "lifestyle" to as broad an economic segment it can but I think over the long term supply/ demand and economics will raise the bar as to who can afford to live here

Sustains for how long, and in what form? The Villages I see when I drive to Orange Blossom is nothing like the model I see being built down by Franklin Rec Center. Where I live, in Poinciana, is different from either of those.
Nothing sustains forever, and to sustain as long as it has, it has been necessary for The Developers to adapt their product to the changing market, presented by subsequent generations of retirees, or near-retirees.

What the OP may see as evidence of a lack of sustainability is, IMHO, the required ingredient for sustainability: the ability to adapt.

I do not believe the rate of growth of TV, as experienced in the last decade, is sustainable, but the general model of shared amenities, and current level of population density, with maybe some minor tweaks here and there, will be sustainable through my, and if they desire it, my kids' retirement years.

The Villages will continue to adapt and evolve has it always has - the community is so different now than it was 25 years ago, and yet still continues to thrive. It’s expensive living anywhere, and retiring to warm weather destinations will always be a draw. So many of my generation and younger live now or came from very expensive housing market areas, and saw our cost of living dramatically decrease by moving to Florida and The Villages (even with current insurance rate increases). Many of us paid cash for new homes here, based on the equity we had built up, with money left over for other things (housing upgrades, travel, etc.) This seems to be true for many of the new residents south of 44.

What happens to The Villages after we’re all gone is anyone’s guess, but for now and the foreseeable future, I see The Villages as a continued “draw” for the last of the boomer generation and the gen-x generation that is starting to relocate here.

"Next generation"? I couldn't care less. Half of us Baby Boomers are still waiting for retirement -- that's enough to see me through. And I don't know about you, but my kids are so much better off than we ever dreamed of being that the Morses would have to start building retirement ranches and mansions to get their interest.

I'm more worried about the country coming unglued than I am The Villages!

I was just thinking how The Villages is so large now that I will never see all of it. We are in LSL area so to go to the southern part of TV is like going to Leesburg or Ocala. My concern is not if people will keep moving here but if they can continue to maintain the quality of the services which some will say have already slipped.

As long as there are retirees from "up north" they will come. They always do.

Its hard to predict the future, but the Villages has maintained a lead position in retirement communities for many years and will probably continue to do so for some years to come. I think it will depend on where the builder takes the Villages and whether they can rectify some of the creeping problems such as overcrowding and the lack of commercial establishments in the newer sections. After a few years here you begin to realize that having over 100 pickleball courts that are full constantly is no better than 8 courts in a smaller community with more availability. Anticipated Commercial business is not keeping up with the Villages expansion. With the premium price we pay to live in the Villages the comparisons to other, smaller communities may begin to be not as favorable.

Boomers wealth
 

You are spot on Boomers and the silent generation could pass on a huge amount of wealth to the Millennials generation.

Moved here 10 years ago and took awhile for the Commercial business to take root so not sure because you think it's "Anticipated" it should appear now. Also, Commercial business will show up when their business plan works. That will take some time. I'm seeing a lot of commercial development now and that creates a whole bunch of other issues :)

Moved here 10 years ago and took awhile for the Commercial business to take root so not sure because you think it's "Anticipated" it should appear now. Also, Commercial business will show up when their business plan works. That will take some time. I'm seeing a lot of commercial development now and that creates a whole bunch of other issues :)