Although many real estate professionals anticipate a flood of Baby Boomers to downsize from their current homes, The Demand Institute’s Housing and Community Survey indicates that 63 percent of them plan to retire and stay where they are. The survey compiled the results into a comprehensive report addressing issues of aging and retirement. Of the 37 percent of respondents who say they plan to move out of their current home, rather than downsize, 46 percent of these people want to move into a nicer home with more space. So having a product that appeals to the lifestyle of those who choose to move is important for both home builders and apartment developers.
Read the entire article here: Will Boomers Downsize? Not So Fast.