RE: "Maybe the trend will be towards low maintenance modest sized semi-luxury condos, townhomes and zero lot single family. Boomers in general will travel and eat out a lot more so than prior generations. As little housework and yardwork as possible. I think the oversized, very expensive homes on big lots in way out in the burbs will have the greatest oversupply. "
I think owning real estate and the associated management of it is the one area of inefficiencies in the economy. Why should a person have to find a gardener, construction worker, housekeeper, plumber, and so on, requiring each of us to be enough of an expert in so many different areas to be able to hire the right people, when one brandname company you can trust could be providing all of this service?
The other thing, after a career of living in business hotels, would retires really want to stay in hotels when they travel during their retirement rather than staying in a house? The way home ownership is done in our country (owned by indivdiuals rather than owned by corporations), it lacks flexibility - it's too rigid and fixed. There needs to be some type of time-share house program, where you can stay in a variety of homes over a period of time, without the hassle of going through all the logistics of buying/selling homes with the 6% fees when you are done with a particular home. The home market is ignoring how flexible our society has become, and house ownership is structured too rigid.
If one could give Marriott money to stay in a variety of homes over a period of a year, that could have more value than staying in one fixed home in one fixed location. If they have time shares for condos, why don't they have them for houses?
Regards,
Amy J |
