Baby Boomers: Downsizing but still spending

It’s estimated that approximately 10,000 baby boomers turn 65 and move towards retirement every day – and will be doing so until 2030. And, while they still possess a significant economic clout, boomers are adjusting their lifestyle to fit their current needs.

More often than not, this means downsizing – do they really need that 3-car garage or the large library. While the homes may be getter smaller, they’re still upscale – stocked with all the amenities and conveniences.

Finally, more retirees are now renting. In the last 13 years, rentals of family homes have increased from 9 million to well over 43 million. Many are finding they’ve had enough of ownership, the goal now is experiencing.

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