The impact on rural and remote quality-of-life counties will be unevenly felt across the landscape posing different demands for local goods and services.
The Southwest, Rocky Mountains, and Northwest (in that order) will have the highest population growth and the greatest potential real estate appreciation in the nation.
Final installment in a 4-Part Series evaluating real estate and consumer predictions as generations transition throughout successive life stages.
Part Three : Who’s Free to Move About the Country?
Part Two: Demographic Lifestyles and Buying Power
Part One: Determinism
Here’s the case for leaving California, which many people already know.
California’s high cost of living and strict environmental standards discourage many businesses from locating there.
As a result, all of the states around California are experiencing explosive population growth.
Here’s the case for staying put in California for the Golden State’s residents.
Great weather, abundant recreational opportunities, and an innovative social and technological environment all contribute to this fact.
But, where will you find growth and equity appreciation?
The Southwest, Rocky Mountains, and Northwest (in that order) will have the highest population growth and the greatest potential real estate appreciation in the nation.
Like most North Americans, according to Dent, I prefer to live as near as I can to the coast.
Because of the vast natural beauty
Businesses have also benefited from access to shipping ports, he says.
This, in turn, means that coastal areas were the first to become congested and expensive.
Santa Barbara, Los Angeles and San Diego are close to merging into one metropolis, as have Monterey, Santa Cruz, San Francisco and Santa Rosa in northern California.
Fortunately, the Central Coastal area between Santa Barbara County and Carmel in Monterey County doesn’t lend itself to mega development.
In fact, those coastal areas that still had underdeveloped land suitable for building have grown the fastest.
These areas include Vancouver, Seattle and Portland in the Northwest.
But areas in the Northwest – Vancouver and Seattle- are quickly approaching population saturation.
They are becoming increasingly expensive, which leaves only Portland to develop strongly in the coming decade.
As a result of the congestion and expense along the coastal areas, it is inevitable that people and businesses will begin looking at inland areas to find attractive towns and cities.
So it’s not just out-of-state migration from California contributing to Dent’s trend.
That’s why we’re seeing such remarkable growth in the southerly portions of the Rocky Mountain area and in desert states including Arizona, NewMexico, Utah and Nevada.
As the Great Recession’s lingering effects dramatically decrease non employment-driven decisions to relocate can significantly play a greater role.
What’s the impact driven by a segment of our population not driven by employment-related criteria?
Employment drivers for 60-64 year olds is 25% as strong as that for 30-34 year olds.
Concentrations of 55-75 year olds in rural and small-town population of 55-75 year olds will increase two-thirds from 8.6 Million to 14.2 million between 2000 and 2020.
The impact on rural and remote quality-of-life counties will be unevenly felt across the landscape posing different demands for local goods and services.
Empty nesters will no longer need the living space they once enjoyed.
Especially after the last of the live-at-home 20-29 year old Millennials strike out on their own.
Some empty lifers with champagne tastes on “Budweiser” budgets are attracted to High Country Eagle communities filled mostly with
- Rustic Eagles,
- Rural Cowboys,
- Small Town Borders, and
- Satellite City-zens.
And, to those Wireless Resorters with resort amenities for their second homes:
- Distant Exurbans,
- Resort Suburbans,
- Maturing Resorts, and
- Premier Resorts.
If you couple changing housing needs with the early retirement options available to the more affluent empty nesters, then you have newer early retirement options.
What both categories of empty nesters, the 45+ and 55+ age groups, have in common is that stage of life where they are no longer raising their children in their homes.
Steps:
(19) Anticipate the growing shifts in life and business. Nobody wants to swim upstream if the current is moving everything in the opposite direction. Clue your fans in.
An excerpt from Book Five in “The Knowledge Path Series” dedicated to helping you find the place of your dreams in the Sierra Mountain resorts.
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