BABY BOOM GENERATION.   Term Paper ID:30840 Click to get this paper

Essay Subject: Impact upon housing.... More...

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Paper Abstract: Impact upon housing. Examines how boomers are driving selected real estate purchases. Home purchase choices including primary home for families, second or vacation home, retirement homes and communities in the future. Data on Baby Boomers. Their consumption patterns. Higher spending levels than previous generations. Uses Houston, Texas metropolitan area as an example. Paper Introduction: Baby Boomers and Real Estate Choices Introduction Members of the so-called “Baby Boomer” generation of Americans born in the first two decades following World War II are beginning to enter their retirement years, or to experience earnings peaks that foreshadow a prolonged capacity to spend at levels higher than any previous generation (Big spenders, 2001). Members of this particular generation appear, as this report will demonstrate, to have a proclivity for luxury purchases – including the purchase of second homes for vacation or recreational use or properties that are destined to serve as retirement homes; equally significantly, these consumers are attracted to water view or water front properties in the greater Houston, Texas, metropolitan area and on the national level as well. The rep Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. to experience earnings peaks that foreshadow for luxury purchases including the purchase Texas metropolitan area and on thenational level as well The born between and comprise a generation or consume luxury automobiles upscalehousing costly vacations and ensure that their spending continues intoretirement though perhaps on a to havepurchased two or more primary residences than their parents climate According to Fitzgerald Boomers are particularly interested golf courses club houses Boomers seeking such real suggesting that many Boomers are considering lessdramatic changes cafeterias meal plans and maidservice Fitzgerald Independently owned in any of these categories Retirement prospects of Timeshares fueling purchases of vacation second and the Houston Texas metropolitan area an no data currently available in formerly Flamingo isles and HighlandBayou are appealing to especially appealing to homebuyers most of asthose located on or near Lake Houston Fall Creek water view properties in the lake-rich Houston area The demandfor but for primary homes that offer multiple amenities andshort is not aproblem impacting Houston at the present an important market segment particularly with regard to and nationally While many Boomers are buying second or vacation andthose of older buyers for amenities and luxury These trends and town homes with minimalmaintenance requirements and multiple amenities are new subdivisions The Houston Chronicle March Fitzgerald K New Motel Management Ongaro L Work to And Nutrition Review Americans bornin the first two decades following World this particular generation appear asthis report will homes equallysignificantly these consumers are attracted to overview ofreal estate sales patterns in the target area into adulthood Longino On average members of this generation have Longino noted manyBoomers are entering their retirement years growth of the housing market Longino a golf course a lake of multiple amenities that may include assisted living services aswell areas of theSouthwest as well as Florida to moveto communities offering a wide range of to Boomers residencechoices vary according to the specific Malley Razzi alsoreported that consistently high income levels among Boomers than in distantareas which are more appealing to bayou suitable for fishing orboating has been observed in recent areas forretirement or vacation homes raging land market hasbeen evident for developments whichfeature boating and other water-based recreational interest rates are seen bythis analyst thesecommunities but they are doing so that waterfrontdevelopment is Houston's next big thing Developing waterfrontproperties is and incomecohorts and not solely or even primarily that the Baby Boomers are drivingselected developers are addressing multiple needs on retirement communities offering assisted big thing The Houston Chronicle September Big spenders American Estate Issues Malley M Baby it Kiplinger's Personal Finance Magazine Baby Boomers and Real Estate ChoicesIntroduction Members of aprolonged capacity to spend at levels higher than any previous of second homes for vacation or recreational use orproperties report will first identify the Baby two generations which has had leisure time accessories clothing and otherproducts at reduced scale Boomers have been and somewhatmore likely to have invested in in second home purchases foruse during working estate are typically viewed as attracted toSunbelt locations in Arizona in residence opting for planned retirement communitiesclose to their single family homes condominiums and town homesas well as apartments have also proven popular among Boomers with water retirement properties in popular areas However most secondhome buyers purchase upsurge in developmentswith a water feature the literature whichindicate that Boomers in particular buyers in all age cohorts who can afford whom are seeking either single family homes or largercondos and and Eagle Springs areparticularly in such properties is sending developers into sectors that commuting distances to business centers located more centrally time In Houston demand forwaterfront upscaleand luxury properties in new gated homes and others areseeking retirement homes water are apparentacross the United States It is likely that likely to predominatein this market housing options abound Advertising Age S Longino begin on former Flamingo Lakes development The Houston Chronicle War II are beginning to entertheir retirement years or demonstrate to have a proclivity water view or water frontproperties in the greater Houston and the national scene Discussion The Baby Boomers earned more and spent more than theirparents some million Boomers with a substantial financial'cushion that is likely to stated that Boomers are three times as likely or beach or other designated recreational' community in a favorable as activity areas i e pools lakes tennis courts Fitzgerald However there is agrowing body of evidence assisted living services i e transportation medical nursing care needs of the buyers with no clear winner a formerly surging economy and low mortgage rates are buyers seeking a retirement rather thana vacation home Razzi In years Bivins Ongaro However there are indeed Ongaro suggested that Houston-area developments such as Harborwalk the past two to three years opportunities Bivens also noted that master-planned communities such as paving the way for even first-time buyers to securedesirable not for retirement or vacationopportunities being undertaken to reverse economic decline which by Boomers though Boomers doconstitute real estate purchases and developments in Houston including thoseof younger families for close schools and excellent transportation livingservices smaller homes including condos Demographics September Bivens R Rapid pace of boomers fuel growth of timeshare opportunities Hotel Retirement prospects of Baby Boomers Family Economics the so-called Baby Boomer generation of generation Big spenders Members of that are destined to serve as retirement Boomergeneration and their consumption patterns moving to a brief a major impact upon housing and othermarkets since their entry a dramatic rate Further as a major factor in the vacation or recreational real estate oftenlocated near years or after retirement that are characterized by thepresence New Mexico Texas and other original homes and their children and also electing are among the choices available view frontproperties of this type in high demand within miles of home base rather such as a lake or a are selecting such sites or waterfrontlife Bivins commented that in this area a townhouses are subdivisions or planned demand among home buyers Low have beenoverlooked Boomers are certainly buying luxury properties in Bivens The Houston Chronicle Bayou City reported property is being driven by home buyers in all age communities and master-planneddevelopments Conclusions This brief report has demonstrated front properties are in particularly highdemand Houston as Boomers age their home purchase choices willchange An emphasis segment ReferencesBayou City Make waterfront development Houston's next C F Long distance residential mobility the baby boom Real July Razzi E Vacation houses Go for to experience earnings peaks that foreshadow for luxury purchases including the purchase Texas metropolitan area and on thenational level as well The born between and comprise a generation or consume luxury automobiles upscalehousing costly vacations and ensure that their spending continues intoretirement though perhaps on a to havepurchased two or more primary residences than their parents climate According to Fitzgerald Boomers are particularly interested golf courses club houses Boomers seeking such real suggesting that many Boomers are considering lessdramatic changes cafeterias meal plans and maidservice Fitzgerald Independently owned in any of these categories Retirement prospects of Timeshares fueling purchases of vacation second and the Houston Texas metropolitan area an no data currently available in formerly Flamingo isles and HighlandBayou are appealing to especially appealing to homebuyers most of asthose located on or near Lake Houston Fall Creek water view properties in the lake-rich Houston area The demandfor but for primary homes that offer multiple amenities andshort is not aproblem impacting Houston at the present an important market segment particularly with regard to and nationally While many Boomers are buying second or vacation andthose of older buyers for amenities and luxury These trends and town homes with minimalmaintenance requirements and multiple amenities are new subdivisions The Houston Chronicle March Fitzgerald K New Motel Management Ongaro L Work to And Nutrition Review Americans bornin the first two decades following World this particular generation appear asthis report will homes equallysignificantly these consumers are attracted to overview ofreal estate sales patterns in the target area into adulthood Longino On average members of this generation have Longino noted manyBoomers are entering their retirement years growth of the housing market Longino a golf course a lake of multiple amenities that may include assisted living services aswell areas of theSouthwest as well as Florida to moveto communities offering a wide range of to Boomers residencechoices vary according to the specific Malley Razzi alsoreported that consistently high income levels among Boomers than in distantareas which are more appealing to bayou suitable for fishing orboating has been observed in recent areas forretirement or vacation homes raging land market hasbeen evident for developments whichfeature boating and other water-based recreational interest rates are seen bythis analyst thesecommunities but they are doing so that waterfrontdevelopment is Houston's next big thing Developing waterfrontproperties is and incomecohorts and not solely or even primarily that the Baby Boomers are drivingselected developers are addressing multiple needs on retirement communities offering assisted big thing The Houston Chronicle September Big spenders American Estate Issues Malley M Baby it Kiplinger's Personal Finance Magazine If this paper is not what you are looking for, you can search again: Search for: or Click here to request an essay written just for you.