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"Empty Nesters" Enjoy Life Discover what was learned from a recent poll of baby boomers. What lifestyle changes are underway and soon to come for baby boomers and older Americans? Del Webb, a Phoenix-based company that specializes in building communities for active mature adults, tracks likely answers in an annual poll of U.S. residents aged 40-70. Their survey of spring 2004 shows this demographic to be preparing for transitions ahead. Their plans keep many industries busy, including all related to housing, home improvement and travel. Even the youngest members of the baby boom generation are now facing the "empty nest" scenario, in which grown children move out of the home, leaving parents with greater freedom and higher levels of disposable income. Slightly more than half of respondents to the 2004 survey said they're emotionally ready for this to happen, and a quarter said they felt "like newlyweds again" when it did. But their future circumstances are uncertain: 25% expect adult children to move back to the home, at least temporarily, while 24% anticipate their parents or in-laws will join the household. Whatever the case, the housing market stands to profit from their business. Thirty-six percent of those surveyed said they plan on moving into a new home when their children move out permanently. Twenty-six percent are considering age-qualified active adult communities as a possible housing option. Spending power is also increasing for many baby boomers. Out of those whose children have moved out, 67% found themselves enjoying increased disposable income. While almost two-thirds plan to bank most of the additional wealth, another significant portion say they will spend it on travel. Dave Schreiner, vice president of active adult business development for Pulte Homes and Del Webb, notes that buyers in active adult communities are not necessarily retired. "Their children have left home, and they now want to take full advantage of a resort-like lifestyle. They are beginning their ‘someday' stage even before they quit working for good." Back To Mature Market News → Go To The GenerationTarget.com Mature Market Bookstore → |
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