The Future of Housing for Older Virginians

Boomers !

•Boomers have led the housing market for three decades … and they still do

Boomers & the March of Time

Boomers & Housing

Scale !

Retirement and Beyond: Why do HHs Move ?

•Downsize•Design and Accessibility•Location, Location, Location •Affordability

Affordability

Affordability

What Do Boomers Want?

Should I stay or should I go ?

What Do Boomers Want?

•47% want to stay in their home •23% want to stay and

move “later”

What Do Boomers Want?

•70% + will be “AGING in PLACE”

What Do Boomers Want?• Walkable• “Urban”… …”Village”• Connected– Family– Friends– Culture – Entertainment– Shopping

• Green

Aging in Place

•Remodeling•Shared housing / accessory housing •Transportation•In home services

Aging in Place…in the Suburbs (traditional model) •SFDs•Rental – Independent Living•Assisted housing •Nursing care

Aging in Place…in the Suburbs (new model) •Remodeling•Shared housing / accessory housing •Transportation•In home services•????

Boomers & Housing 2020

•In the next decade 2/3’s of boomers will make a housing choice •Our current housing stock is NOT likely to meet these new demands•WE need to be creating these new models NOW