What Happened To The Baby Boomers?

What Happened To The Baby Boomers?

You have read about them being born during the post WWII years. You may know one at work between the ages of 55 and 73. You may have one living down the street from you. You may have one in your own family. There may be one sitting in the same seat you are sitting in right now. Whatever your experience, the baby boomers are here to stay for some time to come, and are still a powerful force in the demographics of the USA. In this post you’ll find out what is going on with the baby boomers.

Where Are They Living?

In an article from author Jessica Guerin at HousingWire.com states; ‘More than half of baby boomers intend to age in place according to a new survey released by Chase and Pulsenomics.” This means this group of Americans are staying put in their homes, and that there will be a good deal of remodeling going on in the next 20 years. That is great news for the economy, neighborhood stability, and the appreciation of property values.

How Long Are They Working?

In another article, author  Kathleen Witte with KBTX-TV explains that “A new report from Deloitte Insights suggests 85 percent of baby boomers plan to work into their 70s and 80s.” This can be because they don’t want to quit their careers, are very driven to succeed and leave as much as possible for their families, or just enjoy working. Another reason may be because they haven’t saved enough to retire. Witte goes on to say “Not all are happy about boomers sticking around” and that “the younger members of the workforce have been waiting for the older generations to retire so they can be promoted into those positions.”

With Whom Are They Working?

So how is working together working out? According to an article from Joyce Anderson-Maples in a UAH Article, Dr. Pavica Sheldon says “There are currently four generations working together: Baby Boomers (1946-1964), Gen’Xers (1965-1980), Gen’Yers (Millennials, 1980-1996), and Gen’Zers (1996-current)”. Sheldon went on to say “All these generations have different work preferences and skills, especially when it comes to technology. Gen’Yers make up the largest percentage (35 percent) of the workforce today, and Gen’Xers follow.” She also makes a distinction between “digital natives” (born into the digital age) and “digital immigrants” (those who had to learn the digital world during their working years). She says “Digital natives (younger Millennials and Gen’Zers or Zappers) are shaped by technology from birth. Technology influences how they communicate. They value speed over accuracy, and digital natives multitask, spending more time on online social networks compared to digital immigrants. Although criticized for shorter attention spans and lack of focus, digital natives are very creative. For instance, they can build apps and games without coding,”

Continuing To Influence…

The average life expectancy in the United States is a little over 79 years old (according to geoba), which ranks the US at 53rd in the world. So baby boomers, who are somewhere between 55 and 73 years of age right now, will be influencing the United States housing and economy for another 20 years. What happened to the baby boomers? …They are still going strong!

If you are a Baby Boomer, Gen X-er, or even a Millennial, we can help you with questions regarding residential real estate buying, selling, and investing. Click here to contact us, or give us a call at the office at 540-777-7000.

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