MATURE MARKET HEADLINES POSTED 09/15/97
Boomers Boost Second-Home Market
A rising number of second homes are purchased by baby boomers ranging in age from 33-51. These buyers, while content with their careers, are taking a second look at their life choices. Many are striving for the perfect balance between responsibility and relaxation in a second home.
"Second homes have emerged as the fastest-growing residential real estate market in the United States", said Timothy Kinzler, a certified residential specialist for Arvida Realty Sales in Boca Raton, Florida. According to Kinzler, during the last ten years, second home purchases have doubled to eight percent of the 3.8 million homes sold each year.
A study conducted by the American Resort Development Association found that 50 percent of households surveyed want to purchase a recreational home and 35 percent believe they have a fifty-fifty chance of owning one within the next ten years.
"Although people often travel great distances to spend a short vacation, people who purchase a second home are looking for a place to get away that is closer to the primary residence. Most want a home they can get to by driving (no more than) 150-180 miles", notes Bonzie Everson, Century-21 Realty, Salisbury, North Carolina.
AgeVenture News Service, www.demko.com
BACK TO TOP
Calcium - Vitamin D Combo Reduces Bone Loss
Supplements of calcium and vitamin D can significantly reduce bone loss and the risk of fractures in older people, according to a new report from scientists at Tufts University. The research, the first to show that these supplements can help older men fight osteoporosis, also demonstrates that the benefits of these low cost and easily available supplements can be maintained over several years.
The researchers found that the supplements were beneficial to bone density at the hip, spine, and total body in the first year, and further improved bone density of the total body during the second and third years of the study. "If we could retard bone loss in older people, we could make a lot of headway in preventing the devastation of osteoporosis and the fractures that commonly come with it", says Dr. Sherry Sherman, project officer for the National Institute on Aging, sponsor of the osteoporosis study.
Some 28 million middle-aged and older people are at risk of osteoporosis, and hip fractures related to low bone mass are a leading cause of nursing home entry for the elderly.
AgeVenture News Service, www.demko.com
BACK TO TOP
Gender Gap In Nursing Home Expectations
Men and women differ in how much they think they will use a nursing home as they grow older. They tend to take into account different factors when assessing and planning for long-term care, according to a study by researchers at the Universities of Wisconsin and Missouri.
Married people are less likely than non-married people to expect to enter nursing homes. In particular, married men, who are likely to die before their spouse, don't expect they will ever need a nursing home. Instead, they often believe that their spouse will care for them, if need be, at home. Elders with children are also less likely to believe that they will need a nursing home.
For women, the factors that influence nursing home expectations are family history of nursing home use, family structure, and education. The more educated elderly tend to have a greater expectation of nursing home use. Experts believe that this study's findings will help predict the supply and demand for formal long-term care services.
AgeVenture News Service, www.demko.com
BACK TO TOP
Merrill Lynch Offers Financial Planning for the Deaf
People who are deaf or hard-of-hearing need to plan their financial future just like everyone else, says Merrill Lynch. And here's how they do it for deaf and hearing-impaired investors. Toll-free TTY phone lines, assisted hearing devices, free educational seminars complete with interpreters upon request, and captioned videotapes.
Lynch offers nearly 200 financial products and services from insurance to financial planning, and they're now dedicated to making these services accessible to this previously under-served population. With increased life-expectancy, the average individual, deaf or not, can expect to spend at least 20 years in retirement. The price tag for this extended retirement can be quite large.
Financial experts predict in order to live comfortably in retirement, you'll need 80% of your pre-retirement salary ... and that allotment must be adjusted for inflation.
AgeVenture News Service, www.demko.com
BACK TO TOP
View More Headlines
AgeVenture News Service, 21946 Pine Trace, Boca Raton, FL 33428 USA
Dr. David Demko, Editor
E-mail:newsdesk@demko.com
the media may use these headlines
free-of-charge