| One day I decided to research what the largest | | | | After I read these facts I thought to myself, why |
| growing market was going to be in the next 20 | | | | aren't more builders building what the greatest |
| years. I came across a few articles and facts that | | | | generation wants - the rancher home or townhouse |
| astounded me. Here are a few: | | | | that is "senior ADA friendly and energy efficient" and |
| According to the U.S. Census Bureau, "the number of | | | | why aren't more realtors selling to seniors and |
| Marylanders 65 or older is expected to double by | | | | cultivating the senior buyer? This is going to be the |
| 2030 to about 1.2 million, or nearly one of every 5 | | | | tidal wave of the future. |
| residents." "Maryland is likely to become more | | | | National Council of Aging conducted a study in |
| crowded and a whole lot grayer over the next 25 | | | | conjunction with Met-Life that supported many of |
| years - a trend experts say could challenge the | | | | these facts about what seniors wanted. They found |
| states' ability to house and support its increasingly | | | | that the majority of the seniors did not want to |
| dependent population." | | | | retire in nursing homes or assisted living homes but in |
| According to Senior Facts and Figures, "there are | | | | homes in a development with amenities. With this |
| currently 55 million seniors and over the next 20 | | | | supportive data, Congress became involved and |
| years, more than 70 million baby boomers (one in | | | | developed a new loan for seniors and signed off on it |
| every four of us) will join the senior rank." "Seniors | | | | in February 2009 called the, "Home Equity Conversion |
| are the wealthiest consumers on the planet" | | | | Mortgage Reverse for Purchase ". FHA backed and |
| according to Senior Facts. | | | | insured the loan with guidelines that protect seniors. |
| "This consumer has the most disposable income with | | | | This loan would help seniors who normally couldn't |
| the greatest buying power of any other segment." | | | | qualify for a loan because of limited income, qualify |
| "The senior population controls 77% of all financial | | | | because income and credit are not important. What is |
| assets in the U.S. and accounts for approximately | | | | important is that they are 62 or older and have a |
| 40% of consumer demand and over 79% of all 50 | | | | certain amount of down payment to put down on |
| plus Americans own their own home and 67% of | | | | their home. It could come from: a house they sold, |
| these being mortgage free" states Senior Facts and | | | | cashing in investments, savings, and even a gift. The |
| Figures. | | | | lender backed and insured by FHA would in essence |
| According to Met-Life studies, "there has been a | | | | lend a "matching contribution" depending on age and |
| steady increase in age-qualified active adult | | | | down payment and the senior would have no |
| communities, and other 55+ communities. More | | | | monthly payment until he dies, sells, or moves. |
| seniors are moving to 55+ communities for family | | | | Seniors would retain title to the home, and could |
| related reasons and another reason is the better | | | | never be forced to move even if the house value |
| quality housing unit. Few seniors are moving because | | | | went backwards and they out lived the equity in the |
| they want a larger home." | | | | home. |
| "With 10,000 people turning 50 every single day and | | | | This is a loan allows seniors to purchase twice as |
| 50+ consumers accounting for more than a quarter | | | | much home with NO monthly payment. This way, the |
| of all new homes sales, it is the fastest growing | | | | senior would get the home he wants to retire in - |
| segment of the housing industry" according to | | | | have no mortgage payment and can use the extra |
| "California Green Solutions." | | | | savings for in-home care, medical bills, long term care |
| According to Huntington News, "West Virginia has the | | | | insurance, and anything he or she may need. This not |
| second highest senior population, Florida is first and | | | | only aids the seniors but also helps stimulate the |
| Pennsylvania is third." | | | | building industry and the realtors who are the engines |
| "Wheelchair accessible homes are hard to find" per | | | | of our economy. |
| Free Press Release. | | | | |