NBN Online for the week of May 23, 2005

‘Downsizing’ a Dirty Word for Aging Baby Boomers

Much to their detriment, home builders who are waiting for the first wave of the 77 million baby boomers born between 1946 and 1964 to start retiring may be missing out on a growing market force in the housing industry, according to speakers at NAHB’s Building for Boomers and Beyond Seniors Housing Symposium, which was held May 16-18 in Chantilly, Va.

The 50+ population is looking for new housing, but not within the context of retirement traditionally associated with this age group, symposium panelists said. And although it is difficult to make generalizations about this independent-minded generation, they said, by and large aging boomers do not see themselves trading down but instead expect to be moving up to the best housing they have ever had, even if it means taking out a hefty mortgage to finance their lofty housing aspirations.

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NAHB Accepts Seat on ICC Foundation Board

NAHB recently joined the International Code Council (ICC) Foundation's Board of Governors, becoming the first organization to announce its participation in the group. The ICC Foundation is a subsidiary of the ICC, and its Board of Governors oversees the foundation’s policy decisions.

“There is a great need in our industry to have code officials and builders work together,” said Don Pratt, who was selected by the NAHB Senior Officers to serve as the association’s representative to the board. Pratt, a member of the NAHB Construction Codes and Standards Committee and a builder from Auburn Hills, Mich., said that joining the board is “one more thing that cements the strong relationship” between NAHB and ICC.