Over-55 Population to Reach 85 Million by 2014

(Announcing Formation of GHBA's New 50+ Housing Council)

A new report from the National Association of Home Builders' (NAHB) 50+ Housing Council predicts that 40 percent of all households will be headed by someone 55 or older by 2012. The 55+ population is expected to reach 85 million by 2014. The number of households in the 65-74 age bracket by itself will grow by 4.5 million between 2005 and 2014, an increase of more than 38 percent in only 10 years.

In response to this growing trend, GHBA is pleased to announce the formation of a new local chapter of the 50+ Housing Council.

So, what is the 50+ Housing Council?

Across the nation, builders and developers are striving to meet the housing needs of baby-boomers, empty nesters, active adults, retirees and older seniors. Since 1989, the 50+ Housing Council has served the diverse needs of NAHB members involved in all aspects of 50+ housing, including design, development, finance, ownership, management and sales and marketing.

With 10,000 people turning 50 every single day and 50+ consumers accounting for more than one-quarter of all new home sales, it's the fastest-growing segment of the housing industry. The council provides information, education, research and opportunities for recognition to its members and offers advocacy support to members on key issues.

"Most Boomer buyers don't need to move," said Norman Cohen, an Atlanta-based builder and 2006 chairman of the NAHB 50+ Housing Council. "They'll change homes when their lifestyles change - whether it's because they're starting a home-based business or they just want to live maintainence-free."

The council exists to encourage the development and management of an adequate supply of housing for active adult and service-enriched consumers. The council is committed to compiling and sharing strategic housing solutions that optimize individual and corporate achivements of 50+ Housing Council members.

A special report, "Profile of the 50+ Housing Market," is available exclusively to members of the 50+ council. The profile analyzes U.S. Census Bureau data, provides demographic information and forecasts housing characteristics, mobility, neighborhood attributes and other factors that will help determine demand for 50+ housing.

For more information, contact Carrie Saxon:      
281-970-8970, ext. 171, or CSaxon@ghba.org