Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Page 17
Page 18
Page 19
Page 20
4ComparedtopreviousgeneraonsBabyBoomersaremorelikelyto1.haveculturallyandethnicallydiversefamilyheritagebemoreeducatedandbemorewell-travelled2.bedivorcedorseparatedhavelivingparentsandhavefewerchildrenandthataremoregeographicallyseparatedfromthem3.livelongerbeawareoftheirhealthandtnessandhaveaccesstobeersurgicalandmedicalexpersebutarealsobyvirtueofhavingsurvivedwherepreviousgeneraonswouldhavediedmorelikelytohavechronicillnessordisability4.havesomeprivatesourceofrerementfundinglikesuperannuaonbutarealsomorelikelytohaveletheWhatarethecharacteristicsoftheBabyBoomersworkforceatayoungeragewhetherornottheyarenanciallyreadytodoso5.liveinalowerdensitysuburbandmorelikelytobelivingbythemselves.TheCityFuturesreportdescribestheBabyBoomersfurther.Lengthofmewithinthemarketandthesubstanveescalaonofpricespost-2001willmeanthatmanyBoomerhomeownerssitonavaluableasset.Theywillhavealsosincetheearly1990senjoyedrelavelystrongeconomicandemploymentcondionsbeenpotenallyeligiblefordened-benetpensionsandbeenpresentedwithgreateropportuniestodiversifytheirinvestmentsinresidenalpropertyfurthertothederegulaonofthenancialmarketsandfavourabletaxsengsandconcessions.Assuchtheyareapproachingrerementwithnancialposionsinextricablyedtotheirhomesandtheassetitrepresents.TheresultofthesefactorsinparcularnancialsecurityenjoyedisthatBoomersaremorelikelytohavesubstanveaspiraonsfortheirpost-rerementyears.ThisperiodtermedtheThirdAgeLasle1996lastsunlamorefrailoldageisreached.Withlongerlifeexpectanciesandagreaterproporonoflifetobespentinrerementcomparedtopreviousgeneraonstheeectcouldbemulplerelocaonsacrossthererementperiodandthereforepotenallydierentimpactsonhousingsupplyanddemandinthecomingdecades.Thesignicanceisthatthisperiodoflifestyleandidentyreinvenonhasnotbeenexperiencedatleasttothesameextentbypreviousgeneraons.BabyBoomerscouldspenduptoonethirdoftheirlifeintheThirdAgebetweensay55and85yearsofage.Thespendingandlifestylepaernsofthislifestagearelargelyunknownasarethedemandsoninfrastructureandservices.ATypologyofBabyBoomersTheCityFuturesreportdescribessixtypicalgroupsofBabyBoomers.Thesixgroupsare1.Ageinplacethegroupthatwantstoandisabletokeeplivinginthefamilyhome2.Localadaptersthegroupthathasrecentlyorwantstoandisabletomoveoutoftheircurrenthomebutkeeplivinginthesamearea.3.Scenechangersthegroupthathasrecentlyorwantstoandisabletomoveoutofthecurrenthomeandareatosomewherewithgreateramenity.4.Constrainedretreatthegroupthatwantstokeeplivingintheircurrenthomeoreventhesameareabutisforcedtomakecompromisesduetonancialconstraints.5.Increaseddependencythegroupthatwantstostayintheircurrenthomebuthastomakehousingorlocaoncompromisesduetodeterioranghealth.6.OlderrentersthegroupthathasreachedrerementwithoutpurchasingTheCityFuturesreportonBabyBoomersdenestheminvariouswaysbuttypicallydenotesthesegmentofthepopulaonbornbetween1945and1965.Boomersarethereforecurrentlyagedbetween47and67andinthemidstoftransioningoutoftheworkforceandintorerement.