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GL Homes and several other builders are selling lots of homes to retiring baby boomers in 55-plus communities in booming western Port St. Lucie. Source: Housing market for retiring baby boomers exploding in western Port St. Lucie
Many boomers have realized their retirement plans are not sufficient and have turned to alternative investments, such as real estate, to compensate. About 30% of baby boomers have no retirement.
Although buzz in the housing industry seems to center around Millennials, the baby boomers continue to be a major force in moving the housing market, representing 40% of households in the U.S.Their contribution to the market, however, is changing – rather than choosing to invest in a smaller home as they retire, baby boomers have taken a different route.
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Baby boomers are changing the definition of a "retirement" locale, driving migration to cities with affordable housing, recreational opportunities and robust economies.
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