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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: EL KABONG!!! who wrote (19355)	5/28/2002 1:37:50 AM
From: Snowshoe	Respond to of 74559

Kerry, In the past year I've spent many weeks visiting in a popular Arizona retirement community, so I'm quite familiar with the issues and lifestyle. Guess what? The real estate agent I was dealing with to sell my parents' house has postponed his retirement indefinitely because of the stock market crash. And the guy buying the house is a retired contractor, but rather than playing golf he now runs his own full-time handy-man business. Both these guys are residents of an age-restricted retirement community, and they both work! There is also another class of resident: folks who sold pricey homes in California or Colorado to buy a more reasonable place in Arizona. So I don't quite buy the idea that all these retired folks will simply stop spending. Sure, they might cut back. But there's a variety of other adjustments they can make.