Page 20 - BB_Sept_2018
P. 20
WHO IS YOUR BOOMER CONSUMER?
by Steve Burch and Chris Porter > As the trend of urban-like living in the suburbs
continues to rise, look to the older households
This next year marks an important
to comprise a notable share of this growth.
consumer milestone: In 2019, the very This is impacting the older shoppers’
last of the baby boomers will turn 55. community and location preference and is
This generation, whose impact on beginning to remake the suburbs.
society has been well documented > It is no big surprise that Americans are working
later in life. Labor force participation rates for
through their childhood and working the older population are at the highest levels in
years, is now redefining the empty nester decades. While this situation has a number of
and retirement years. societal impacts, it is pushing consideration for
age-restricted communities to an older age.
We culled some fascinating trends among > Due to longevity and delayed child bearing,
households aged 55+ from our nationwide survey of the boomers are the first real “sandwich
new home shoppers. More than 8,700 active adults generation” simultaneously caring for their
and retirees shared with us the key items they are adult children and aging parents. This is
looking for in their next home and next community, having a distinct impact on the need for multi-
showing just how differently—or similarly—they are generational homes.
shopping compared to their predecessors.
Here are the key impacts boomers are having on ‘Surban’ Popularity:
location selection, community selection and issues Less than 5% of the 55+ population in our survey
that inform their choice of home layouts. wants a truly downtown experience—a place that
20 SEPTEMBER 2018 | GREATER SAN ANTONIO BUILDERS ASSOCIATION
