The National Association of Home Builders says that by 2019, heads of household aged 55 years and older will account for over 45 percent of all households in the U.S. A new influx of age-restricted developments targets baby boomers, offering active, 'resort-style' communities.
"There hadn’t been that focus on creating a lifestyle for aging baby boomers,” said Michael Dubb, founder and chief executive of Beechwood Homes. While age-restricted communities are not new, the size of the boomer generation has helped the groundswell of developments. The New York Times reports that many suburban homeowners are now empty nesters ready to downsize, and want to have the option of socializing, or having privacy.
With life expectancy rising, assisted living facilities catering to octogenarians and beyond are also popping up. “There are a lot more people in their 80s and 90s who require some sort of assisted living,” said Mr. Jones, of the Regional Plan Association. “That will only increase over the next few decades.” The average age of residents in assisted living is 88, up from 82 in 2000. Ninety percent move from within four miles, and many have friends from the same neighborhood. Most are settling close to their adult children.
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