| The second home market is experiencing a boom | | | | options like condos and townhouses and smaller |
| time, 1/3 of all homes sold last year were for second | | | | cottage-style communities. |
| homes. Many of these second homes were bought | | | | Smaller more efficient spaces that require less |
| for investment also, to be rented or for tax benefits | | | | upkeep and maintenance will be even more popular. |
| and appreciation. Many will be used as retirement | | | | 2005 saw record number of condo sales. |
| residences in the future. | | | | But with these smaller spaces, boomers will require |
| 76 million baby boomers will retire in the next 15 | | | | more luxury and ammenities. Upscale baths and |
| years. The biggest number of boomers turned 50 this | | | | kitchens, high-tech wiring, luxury trim and quality. |
| year and last, and at 50 years old, statistically people | | | | Outside their living space, communities will need to |
| begin to shop for a retirement residence. | | | | provide Work out facilities, pools, and communal |
| Where do boomers want to be in retirement? On a | | | | gathering spaces. |
| golf course? Although many do, most want to be in | | | | By sharing the cost of these facilities, boomers will be |
| walkable communities, with shopping and dining | | | | able to afford the lifestyle for which they desire and |
| options. Many want to return to school, and pursue | | | | have become accustomed to while affording multiple |
| educational interests they never had time for before. | | | | homes in retirement. |
| Do boomers want McMansions? Although some do, | | | | Besting is a trend in the real estate industry, condo |
| most will not be able to afford larger homes in | | | | hotel is part of the Better Nesting trend. |
| retirement and will opt for more communal living | | | | |