GUESS WHO GOT THEIR EYES ON OUR REGION

As you will read, the Baby Boomers are ready to start their retirement life. What better place to do that, but in the Panhandle of Florida. 78 Million baby boomers!!!!! Potential buyers and investors of Northwest Florida. Do we see the writing on the wall here? I believe Mr. Bonnezzi has got something here with his Golf Course Community in Mossyhead (See previous Blog Entry). The Villages of Central Florida has been a tremendous success for the retirement community. With the growth expected here and the opening of the new Panama City International Airport, I believe these "Baby Boomers" will have their eye on our region. The questions is, "Are we ready embrace them?". Time will tell.


Boomers ready for retirement housing

NEW YORK – March 5, 2010 – According to John Migliaccio, director of research for MetLife’s Mature Market organization, more than 78 million baby boomers, born between 1946 to 1964, will reach age 55 over the next 10 years.He and other trend spotters believe this dominant group of homeowners will lead the industry out of its slump. Baby Boomers approaching retirement continue to be interested in buying into active-adult communities, but their moves are slowed due to a decline in the value of both their retirement savings and their current homes. To encourage seniors to find a way, 51 percent of builders of active-adult housing cut prices in the third quarter of 2009 – often as much as 25 percent or more – according to a survey by the National Association of Home Builders. Practitioners point out that new isn’t always best. Buying an existing home in an active adult community can be a particularly good deal because these communities have extensive amenities, including golf courses and gyms. Some new construction projects on which builders have trimmed prices are not nearly as well equipped. Source: Investor’s Business Daily, Joe Gose (02/25/2010)