[Hammocks Bum]

Florida with 30 million people? 40 million? What will it be like?

Arcadia would be a Metro Area !!!! and Inmokalee would no longer have Agricultural Areas Left ...

[kyle19125]

Originally Posted by aridon

It won't take nearly that long. Most of the boomers are done coming, the last years have virtually no money. Boomers are also a very unhealthy generation and are already in their 70's on the high end.

I would disagree with the unhealthy assessment given life expectancy is at it's highest. It has much more to do with lack of access for many to needed preventative care and/or prescription drugs than it does lifestyle.

[FLHfan]

Originally Posted by aridon

It won't take nearly that long. Most of the boomers are done coming, the last years have virtually no money. Boomers are also a very unhealthy generation and are already in their 70's on the high end.

I'd argue we are close to supply equilibrium now and certainly over the next year or two. All it would take is a catalyst like a recession and everything will come tumbling down pretty rapidly. Plenty of boomers are counting on 15% returns each year to fund their lifestyles due to lack of savings.

23% of all the INDIVIDUALS (not couples), ages 53 to FRA have a net worth of over half a million $$$ not including real estate.
More than enough to migrate to Florida.
Some still have years to gather more.

Boomer's children stand to inherit all that wealth and although you can say they're not interested in moving to Florida, circumstances change with age.
The great migration to Florida didn't start with boomers and it won't end there.

[aridon]

Originally Posted by kyle19125

I would disagree with the unhealthy assessment given life expectancy is at it's highest. It has much more to do with lack of access for many to needed preventative care and/or prescription drugs than it does lifestyle.

https://www.cbsnews.com/news/baby-bo...on-study-says/

[Snort]

....and 27 million over the age of 80, driving in the left lane at a dizzying clip of 35 mph.

[Irishtom29]

Originally Posted by floridarebel

Like California. All the northerners moving down here bring the politics they are wanted to leave in the first place. Higher taxes, even more traffic, less greenery etc. sad but true

I moved to Florida because I liked the weather but I liked the politics up north. I liked the high wages there too. Work up north, retire down south.

Anyway, having helped turn Florida into a dump I’m now doing the same to Texas.

[aridon]

Originally Posted by FLHfan

23% of all the INDIVIDUALS (not couples), ages 53 to FRA have a net worth of over half a million $$$ not including real estate.
More than enough to migrate to Florida.
Some still have years to gather more.

Boomer's children stand to inherit all that wealth and although you can say they're not interested in moving to Florida, circumstances change with age.
The great migration to Florida didn't start with boomers and it won't end there.

Most of that net worth is house. It will all get spent mostly when one of the spouses dies and the remainder has 900 a month to live on. Reverse mortgages are going to be booming. Much less all the long term care costs. There won't be much getting passed down.


https://www.investopedia.com/article...ent-crisis.asp

Baby Boomer Retirement Research
Last year, GoBankingRates published research conducted with 1,504 adults over the age of 55 (4.3% margin of error). About 30% of the respondents age 55 and over claimed to have no retirement savings. An additional 26% reported less than $50,000 saved for retirement. When considering typical benchmarks needed for a successful retirement, 54% of the older Americans in this survey lacked sufficient retirement funds.

But not all Baby Boomers lack reasonable assets. At the other end of the spectrum, 26% of those age 55 to 65 have balances greater than $200,000. Among the over-65-year olds, 31% had $200,000 or more in their retirement accounts. That's heartening for them, but this chart paints a gloomier picture of those closest to retirement age:

[kyle19125]

Originally Posted by aridon

https://www.cbsnews.com/news/baby-bo...on-study-says/

"Given the link between positive healthy lifestyles and subsequent health in this age group, the present study demonstrates a clear need for policies that expand efforts at prevention and healthy lifestyle promotion in the baby boomer generation," the study concluded.

Up to and including making health care affordable for those who have to choose between eating and/or paying housing costs along with utilities....versus medical bills (not to mention the cost of prescription drugs), which is something the previous generation being compared to did not have to worry about nearly as much.

[FLHfan]

Originally Posted by aridon

It won't take nearly that long. Most of the boomers are done coming, the last years have virtually no money.

A household led by a 70-74 year old with a net worth ignoring primary home equity of $500,000.00 was in net worth centile 74% in 2016. This centile ranged from $470,310.93 to $507,032.69. Around 1,928,884 of the 7,418,787 households in this age range had $470,310.93 or more in net worth.

A household led by a 65-69 year old with a net worth ignoring primary home equity of $500,000.00 was in net worth centile 77% in 2016. This centile ranged from $488,794.65 to $527,587.94. Around 2,389,893 of the 10,390,841 households in this age range had $488,794.65 or more in net worth.

A household led by a 60-64 year old with a net worth ignoring primary home equity of $500,000.00 was in net worth centile 75% in 2016. This centile ranged from $499,292.88 to $526,488.20. Around 2,876,780 of the 11,507,120 households in this age range had $499,292.88 or more in net worth.

A household led by a 55-59 year old with a net worth ignoring primary home equity of $500,000.00 was in net worth centile 77% in 2016. This centile ranged from $497,218.04 to $541,054.01. Around 2,923,548 of the 12,711,082 households in this age range had $497,218.04 or more in net worth.

A household led by a 50-54 year old with a net worth ignoring primary home equity of $500,000.00 was in net worth centile 83% in 2016. This centile ranged from $482,380.11 to $518,711.23. Around 2,049,564 of the 12,056,259 households in this age range had $482,380.11 or more


Not much change in the wealth of the younger group or any of them for that matter and since 55-59 represent the largest group, there's potentially more of them to move here. And don't forget, these age groups are among the last ones to get a pension before they were largely phased out so net worth is not as critical for some.

So far, only about a third of the boomers have reached FRA with a much larger group left to get there. Only when you look at the 50-54's do you see a drop but they have over ten years to catch up with the next two groups still not full retirement age yet either. (and most of that group aren't boomers)

I don't believe most of the boomers are done coming to Florida and, I don't have the stats but this generation could be the largest to move to Florida and pay cash for a house and have a substantial amount left over.

A survey of 1500 doesn't seem like a good representation of a population of 74 million (left as of last year).

[expatCA]

Originally Posted by Snort

....and 27 million over the age of 80, driving in the left lane at a dizzying clip of 35 mph.

Getting in the way of the under 40 crowd that drives at 85.