Boomers Ready for Retirement Housing

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 home owners 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)

Toll Brothers Reports FY 2010 1st Qtr Results

Here is an indicator of the luxury home market regionally.  What resources do you use to gauge how the economy is effecting your business?  Let us know.

HORSHAM, Pa., Feb. 24, 2010 (GLOBE NEWSWIRE) — Toll Brothers, Inc. (NYSE:TOL – News) (http://www.globenewswire.com/newsroom/ctr?d=185028&l=1&a=www.tollbrothers.com&u=http%3A%2F%2Fwww.tollbrothers.com), the nation’s leading builder of luxury homes, today announced results for earnings, revenues, contracts and backlog for its first quarter ended January 31, 2010.

Visit our website at: http://www.tollbrothers.com/

 The Company reported a FY 2010 first-quarter net loss of $40.8 million, or $0.25 per share diluted, compared to FY 2009’s first-quarter net loss of $88.9 million, or $0.55 per share diluted.  To read more, go to:

http://finance.yahoo.com/news/Toll-Brothers-Reports-FY-2010-pz-1268341462.html?x=0&.v=1&.pf=real-estate&mod=pf-real-estate

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