Posted on 11/22/2019 10:41:46 PM PST by NoLibZone
SUN CITY, Ariz. — When this Phoenix suburb opened on January 1, 1960, it was billed as the original retirement community. From above, it would look like a UFO landing site, laid out in rings to mimic halos surrounding the sun. Just past the entrance, a billboard flanked by rows of palm trees promised “An Active New Way Of Life.”
On the weekend Sun City opened, cars were backed up for 2 miles as some 100,000 visitors waited to gawk at a village built specifically for adults over the age of 50. They found a new nine-hole golf course and a community center with 250-seat auditorium, swimming pool, shuffleboard court and lawn bowling green. Elsewhere there was a 30,000-square-foot Grand Shopping Center, a Safeway grocery store and a Hiway House Motor Hotel, where you could have a cup of coffee or something stronger at the bar. “The finest resort couldn’t supply more,” boasted a fictional resident of Sun City in a promotional video from the period.
The big question looming in this neighborhood — and dozens of others like it in the Southeast and Rust Belt — is what happens to everything from home prices to the local economy when so many homes post ‘For Sale’ signs around the same time?
The U.S. is at the beginning of a tidal wave of homes hitting the market on the scale of the housing bubble in the mid-2000s. This time it won’t be driven by overbuilding, easy credit or irrational exuberance, but by an inevitable fact of life: the passing of the baby boomer generation.
(Excerpt) Read more at foxnews.com ...
“South Central. We’re 45 minutes south southeast of Bardstown.”
Bardstown. I’d hazard to guess that 99.9% of the people in the United States have no idea what affect the Vietnam War had on that modest KY town.
Your reply makes much more sense then the idiotic article. The US population is not shrinking. Younger couples are headed to the burbs and house are in short supply. As boomers retire it may put some downward pressure on new construction.
The better question is what will happen to all of their RVs?
If someone is smart and patient, they’d snatch up this depreciated property and hold it until Gen Z reaches home-buying age.
LIBERAL politicians are already scheming ways to make that happen.
Possibly, ordinances will change to allow multi-family occupancy.
Iowa decided “family” was discriminatory, so family was redefined. Family is now any number of people who want to live together.
In effect, it nullified all residential zoning. The City of Ames responded to this by making sure all rental is registered and limiting occupation to number of bedrooms plus one. No new parking and driveway permits.
But if you own the house, the above rental rules are not enforced.
I broke the rules and read the source article which is in the WSJ after you follow the link to Fox. Excerpting an excerpt should be banned on FR.
The real article in the WSJ is actually a good if lengthy read. Bottom line the surplus housing is Senior communities in FL and AZ and some dying Midwest towns. No surprise in any of it.
Some baby boomers rose the housing wave up, but as their homes get sold they can generate a wave heading down.
Ah, Rosebud. Where is the sled?
Personally, I think the best thing Welles ever did was his Halloween “War of the Worlds” broadcast.
“Besides, congress is going to rebuild everybody’s house during the next 11 years anyway. Make them all green, you know.”
Unfortunately we’ll all be dead and the earth in ashes in 11 years and a few months. (per AOC and the rest of the climate retards)
“...what will happen to all of their RVs?”
Yeah...and all of their up-north cabins, ATVs, guns...
.
And all their boats.
Where are the 60-million aborted babies when we need them?
I’ve personally been thinking about the same impact it will have on the stock market when they all go to cash in their 401ks and IRAs.
And what then in the next 20? Some seem so restless.
I figure much the same. Collectively, we have spent seven decades since the war acquiring stuff. There is just too much to keep.
Every couple of years an article like this comes out. Boomers selling their homes will cause a housing crash. Boomers selling their stocks will cause a market crash. Boomers not driving anymore will cause an auto industry collapse. Boomers getting old and sick will cause a health care crisis.
Many young soldiers who gave the ultimate sacrifice might disagree with you.
I know of a full-up pre-slide out Cummins 8.3 pusher free to anyone who will take it. There will be lots more like it. Ditto my barned Airstream that is not used at all but I wont give it away.
My daughter was just telling me about how my grandson is obsessed with George Washington. He had no children and was the Indispensable Man.
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