Now it seems that Donald Trump (or “The Donald” as he has come to be known ), who recently turned 60, is building his latest luxury development specifically for the boomers. According to the article, Trump building boom, in the NY Daily News, if you’re looking to buy an apartment in this 141-unit luxury complex located in Yorktown (in Westchester County, NY), you need to be at least 55 years old.
This is perfect timing for developers and those in the real estate field to target the Baby Boomers, the nation’s richest age group, as they enter retirement. This post-World War II generation, born roughly between 1945 and 1963, will start buying property as an investment and even as their aging-in-place home. After all, with all the financial burdens the younger generation has — and will have once the boomers start retiring en masse — the boomers are the perfect target audience.
A very interesting point the article makes is that just because it is for the “55-and-over crowd,” it by no means signifies they will be inactive. Mr. Trump calls the housing “active adult housing” which will have a plethora of amenities such as swimming pools (both indoor and outdoor), biking and walking trails, and membership to Mr. Trump’s Golf course nearby.Powered by Sidelines