A Bright Future With Baby BoomersPublished February 16th 2017 at 12:00am
NAHB Chief Economist Robert Dietz said, “We expect continued growth in the 55+ market in 2017, although builders in many places will still face challenges in finding adequate supplies of inputs like labor and lots.”
of July 2015, people 65 and older accounted for 14.9% of the
population. In Utah, that number hovers closer to 10% and is inspected
to increase significantly. 36 million people are expected to hit
retirement age over the next fifteen years and many of them will be
looking for new homes - whether downsizing, retiring, or just looking
for a second or third act. When you add that in with Utah's younger,
growing workforce and our business-friendly environment, there is no
doubt that Utah builders will remain busy for years to come.
The question then, is where do you want to focus? Business? Residential? Industrial? Fortunately for those of us in the Beehive State, your options are many and the future is bright!