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If it did nothing else, the last decade should have disciplined some of our enthusiasm for betting the house, literally, on long-term trends deduced from short-term experiences. Remember that little hiccup in the world economy when pretty much everybody bought into assumptions about ever-rising home values?
So where do I get off saying this: For the next 15 to 20 years we’re going to experience the most dramatic changes in American neighborhoods since the post-WWII era?
Among the Big Issues awaiting communities after we shake off the post-recession blues is what to do about demography. Particularly the part about America’s aging population.
The first-borns among the 76-million-strong Baby Boomer generation reached 65 in 2011. And over the next three decades, the geezer slice of the population pie will swell to 20 percent, compared to a little more than 13 percent in 2010. Take a look at the chart below, compiled from Census projections and pulled from the informative Alliance for Aging site.
