On the heel of the mortgage crisis and housing decline comes a kind of doom and gloom article on the Economist.com. The article discusses a new study by Dowell Myers and SungHo Ryu of the University of Southern California, which suggests that as the 78 million baby boomers retire, the rush to sell homes will cause a “generational housing bubble.” The demographics say there won’t be enough young folks around to pick up the glut of housing, depressing prices as they delay buying to get that “bottomed out” deal.

But this won’t all happen until the baby boomers turn 65 - in 2011. A lot can happen between now and then, such as: “If the building industry contracts, home prices may remain more stable. Or developers may switch to serving the old, building more compact housing near amenities.”

Urban planners and builders take heed: consumers will want this kind of “smart growth.” But the reality is, the market won’t begin to change without visible pressure. Hopefully, it won’t be too late. Caregivers and seniors can voice their opinions with their local Office of Housing or Redevelopment Agency. And if you need to find housing now, use our handy checklist.

Resources

See what some communities are doing to get “smart growth.”

This article talks about how to best plan for the upcoming generational shift.

Filed under: Baby Boomers, Care Facilities, Community, Housing