Baby Boomers

How Demographics Effect Real Estate

July 30th, 2010 | Author:

Demographics are routinely overlooked when it comes understanding real estate. Here are some things to consider.

As mentioned before on this site, much of the housing boom that occurred, occurred because of demographics and demographic shifts.

Older babyboomers were scaling down either in size of home or price of home and moving.
Younger baby-boomers were moving up to have more room for their expanding family.

These two alone caused for a lot of home buying and building. But now they are done…at least for now.

If you are thinking about owing real estate, consider asking yourself these questions:

What are the demographic trends of the future when it comes to housing?

Baby-boomers moving down and moving out
Homesteading where multiple generations share the same property
Immigration: People will continue to immigrate to the U.S. legally and illegally…The population will continue to grow and it will need housing. But how long will it take till all the vacant homes are purchased by increasing population?

Where will large groups of people be moving to?

Mid-Atlantic and Southern East Coast States: Virginia, North Carolina, South Carolina, Georgia and Florida
Texas
Pacific Northwest
Resort communities that cater to full-time residents

What type of homes will people be interested in buying?

Smaller
Homes with land for gardening and farming
Homes that allow multiple families to live in them
Homes in more of a rural area, but convenient (45-60 minutes) to amenities and homes in more urban areas. Suburban areas will likely experience and exodus or at least become a less desirable place to live.

What states are pro business?

Virginia
Utah
North Carolina
Wyoming
South Carolina
South Dakota
Kansas
Georgia
Florida
Nebraska

*Notice 5 of the Top 10 States For Business are the Mid-Atlantic and Southern east coast states.

Where is business booming or will likely grow?

Texas
Virginia
North Carolina
Georgia

What states have low income taxes or no sales taxes?

No Income Tax States

Alaska
Florida
Nevada
South Dakota
Texas
Washington
Wyoming

Tax on only investment/dividend income states

New Hampshire
Tennessee

No Sales Tax States

Alaska
Delaware
Montana
New Hampshire
Oregon

Check out this article: The Future of Housing Demand: 4 Key Demographic Trends

For more information on Christian Economics and Real Estate, please visit The Christian Economic Report at www.ChristianEconomicReport.com.
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Posted in baby boomers | Tags: 60 Minutes, baby boomers, Babyboomers, Demographic Shifts, Demographic Trends, Desirable Place, East Coast States, Income Taxes, Large Groups, Mid Atlantic, Northwest Resort, Pacific Northwest, Pro Business, Resort Communities, Rural Area, Sales Taxes, Suburban Areas, Time Residents, Utah North, Virginia North | No Comments »

A Home For Me & My In-Laws 65 Miles Outside Of Chicago

July 29th, 2010 | Author:

In earlier times in America, families and extended families often lived together under one roof. The savings aspect of such an arrangement are obvious, as are the sharing of family stories from one generation to another generation. Often, older members of an extended family may also require “extra care,” while younger members of a given family may need some “extra help” financially. For all of those reasons and others (like an unplanned divorce in a family) men and women may wind up living together under the same roof, who might never have anticipated doing so previously, with a mother or father or with their spouse’s Mom and/or Dad.

So, how does such an arrangement work out from a family, who has “been there and done that?” Here’s one example from our Generation of Babyboomers, which you may find enlightening, especially if you have been considering a similar solution lately for your family and “extended family.”

Located approximately 65 miles Northwest of Downtown Chicago lies a former rural county, which is currently in a transition to suburban. McHenry County, IL was once the horse capitol of the US on a per capita basis. While it still possesses rich soil for its farmers, some of its inhabitants today are actually transformed city dwellers and suburbanites, like me and my family.

My wife and I discovered “our little piece of heaven” now more than 13 years ago. What brought us as a family out to this area was an assignment for my wife as pastor of a local PCUSA congregation. With us also came my mother-in-law and my father-in-law, who was in an early stage of Alzheimer’s. In fact, within one year of moving into our nearly 5,300 square foot ranch with an in-law wing, my father-in-law, Dr. George Roush, was admitted into a Greater Chicago area Alzheimer’s facility, which was better equipped to deal with his progressive disease.

Over the years, we have learned that other individuals have discovered McHenry County, IL because families get “more house and land” for the money than they could ever afford closer to the City of Chicago. So, the word BARGAIN becomes an operative word in our area.

Our house is also located on nearly 17 acres, is heavily wooded and includes a 1-acre pond. Deer and a large variety of other animals roam freely on our property and in our immediate neighborhood. That description even includes a Giant Turtle, who occasionally comes to visit and travels undisturbed in our area. Our property has even registered in the IL Dept. of Natural Resources “Forestry Program,” which creates a significant tax break.

The view out of an extensive number of Pella Windows is consistently breathtaking in every direction. In fact, a long, winding drive through towering trees on all sides leads to this totally secluded country estate.

The home itself has 4 1/2 baths plus 4 bedrooms and a Giant Family Room, which we refer to as the Great Room and which is physically located in the in-law wing of our home. There are also two separate laundry rooms, Living Rooms, Kitchens and Dining Rooms, which gives each separate family their own space in a non-crowded living arrangement for an “extended family special circumstance.”

Why does such an arrangement make particular sense in today’s global economy? It’s because it takes a lot of money to afford a quality nursuing home option today, which is not at all like being part of an extended family. In our living space at least initially were my wife and I in one wing of our house, my mother-in-law with my father-in-law in the opposite end of our home and our nephew (who we ultimately adopted), in his own separate bedroom with his own bathroom. We even had anticipated a live-in caregiver for my father-in-law and had made that plan even before we moved into our Woodstock, IL house.

So, perhaps, you too are looking for a similar in-law arrangement just one hour by Express Train from Downtown Chicago. If so, you should take a moment to check out the following listing:

http://www.realtor.com/realestateandhomes-detail/9911-Lucas-Road_Woodstock_IL_60098_1115485287?source=a20058

Google the following:

Realtor 9911 Lucas Road Woodstock, IL 60098

James O. Armstrong is President of NowWhatJobs.net, Inc., http://www.nowwhatjobs.net, and he serves as the Editor of NowWhatJobs.net. In addition, Jim is the author of “Now What: Discovering Your New Life And Career After 50″ and the President of James Armstrong & Associates, Inc., a media representation firm based in Suburban Chicago.
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Please Note... All links within articles are placed by their author-owners and not by this blog.Products with in those links may or may not be the best in the world.If it sounds too good to be true it could be a scam.Articles are posted for their info,ideas and or entertainment value only.

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