Most of us are aware that the Baby Boomers, a generation comprising huge numbers, are beginning to retire. Their retirement brings along with it immense lifestyle changes, including the selling of their homes. Additionally, a huge transfer of wealth to younger generations than the Boomers has begun.
The Baby Boomers overall will be downsizing their homes, though most likely not their lifestyles. While many of the Boomers were affected by the recession of 2008 which wiped out many of their paper assets, the majority of them have been recovering through continued home ownership. Nevertheless, given that prices are rising, one of the challenges the Boomers face is where to retire. Many smaller homes in desirable communities and locations well exceed what Boomers can afford.
The reasons for this are manifold and include affordability and the effects of Prop 13, the benefits of which many Boomers are accustomed to. Owning a home in San Francisco by today’s standards requires an average income of $267,000. That generally means that moving into a different home in San Francisco is not an option for retiring Boomers. This state of affairs in San Francisco sometimes means that Boomers dig in and vow to stay in their homes until someone carries out their lifeless body. In this sense, Prop 13 has become a golden handcuff.
For those who want to or have to move on from San Francisco the question remains: where to go? -
The Boomers like owning their homes and will likely continue to do so in more retirement-friendly states like Texas, Arizona, and Florida. For those Boomers who wish to remain close to urban centers, senior housing will become an important option.
Recently Remodeled Kitchen, New Kitchen Cabinets and Quarts Counter Top. Newly installed 2018: Shingles Roof, Water Heater And Central Heating. Double Door Entry. Double-pane windows.Downstairs got Wet Bar, Granite Counters,...
2,040 sq ft
Listing provided by Abner Gama, Realty World - SF Bay Group
Brand New Construction! Modern and luxurious fourth-floor, two-bedroom condominium unit at Sutter North! 405 features sleek modern kitchens featuring Italian cabinetry and top-of-the-line appliances, floor-to-ceiling windows, wide-plank walnut flooring, Thermal...
-- sq ft
Listing provided by Colleen Cotter, Vanguard Properties
Mid-Century sun-drenched home located steps from McLaren Park. First time on market in 48 yrs! Main level features spacious open-concept living/dining area w/wall-to-wall windows showcasing beautiful San Bruno Mt. VIEWS...
Beautifully remodeled 2 bedrooms, 2 baths up-stairs and 2 bedrooms with a full bath on main level. Property features: newer roof, interior-exterior paint, refreshed landscaping front & back, 7 types...
1,602 sq ft
Listing provided by Renee Jordan, Jordan Real Estate Group - RE/MAX Gold
Conveniently located within walking distance to the neighboring Crocker Amazon Playground, this light filled Single Family Home is a perfect starter home in San Francisco. The main level features open-plan...
919 sq ft
Listing provided by Olga Milan-Howells, McGuire Real Estate
Thoughtfully renovated w/ open concept and Pinterest Perfect detailing. 2-3 bedrooms, 2 updated baths. Dream kitchen with large cook island (gas) and breakfast bar. Waterfall counters, shaker style cabinets, Stainless...
1,083 sq ft
Listing provided by Joan Loeffler, Zephyr Real Estate
Gorgeous Mediterranean Two Unit Building to be delivered VACANT! Here is your opportunity to own a significant Marina District Property offering a number of possibilities including Fast Track Condo Conversion....
3,454 sq ft
Listing provided by Darwin Tejada, Pacific Union International Inc.
This fantastic Tunnel Entrance home features a reverse floor plan with beautiful ocean views! Inviting entrance reveals art deco period details boasting crown molding, parquet flrs & gracious archways. Natural...
1,288 sq ft
Listing provided by Nick Johnson, Coldwell Banker Res. R.E. Svcs
This stylish two-story house is located in the highly desirable Excelsior's neighborhood and comes complete with a huge backyard, spacious open floor plan, having a generously spacious living room with...
1,674 sq ft
Listing provided by Eric Tran, Keller Williams Realty-Silicon Valley
Listing information deemed reliable but not guaranteed
Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS®, but is not warranted.