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Creating Results is a full-service strategic marketing, public relations and advertising agency with more than 15 years of experience. Our expertise is motivating mature 40+ consumers, including Baby Boomers, Silent (Ike) Generation and Gen X.
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Mature Marketing Links of the Week – Walking the Walk(man)

October 27th, 2014 Posted by Erin Read

For those of you who follow @CreatingResults on Twitter* you know that last week was the annual meeting of LeadingAge, which is “an association of 6,000 not-for-profit organizations dedicated to making America a better place to grow old.” It represents homes and services for the aging.

Creating Results was at the conference sharing white papers, case studies and knowledge with senior communities pros from around the country via booth 1747. We also were live tweeting (reporting, but in bursts of 140 characters of less) from many excellent sessions. Which explains why this week’s round-up of links for mature marketing have a senior living slant.

#LeadingAge14 insights, however, apply to all organizations trying to improve their results with baby boomers and seniors.

Walkman and cassette tapes

(NOT a stock photo. This is a photo taken this morning of my Walkman, a best-ever birthday gift I received two years ago.)

1. MOST SHARED: “In some of our communities we are like Walkmans. We haven’t changed to meet what people now want.”

Robert Snyder of Stonetrust Partners made this statement at LeadingAge on Tuesday, and audiences in Nashville and on Twitter flicked their virtual Bics in agreement.

Snyder was part of a panel on Partnership and Experiential Marketing, along with CR’s own Todd Harff and Paul Duffy of North Hill senior living. His point was that many continuing care retirement communities (CCRCs) are stuck in the past — old buildings, gated locations removed from the larger community, “programs” foisted upon residents rather than innovative and engaging lifestyle.

Prospective residents and buyers are not stuck in the past, of course. They’ve abandoned their Walkmans and embraced newer 50+ housing options. They’re also pushing senior living communities and other services to adapt to their demands, desires and dreams.

RELATED: Partnerships are just one way of transitioning a service or residence to become the “iChoice” of today’s older adults. Download handouts and a white paper here: http://creatingresults.com/experiential-marketing

2. TWEETED & REPEATED: A few more items from LeadingAge caught people’s attention last week. They’re all about walking the walk to up your metrics-driven marketing game.

– “Occupancy is the result of a long process of lead generation, marketing & sales.” Investors need whole story. @HJSims — Is your team taking a long term view, and accurately reporting their short term progress towards goals?

– “Doesn’t matter what we do, we ask how can technology help us do this more efficiently & effectively.” @jennenebuckley of Feros Care. Jennene’s team is using off the shelf technology to help Australia’s seniors stay in their homes for longer, with exciting emphasis on social wellness and interactivity.

– Context: as elderly population increases, so does number of adult child influencers. As represented by this chart, shown on Wednesday:

Chart - population by age 1900-2050

 

3. MOST CLICKED: I called it the headline win of the week. “The 50-Year Orgasm” also is an in-depth look at the ageless business of love.

Online dating is a top activity for older adults, as we noted in our Social, Silver Surfers ebook:

“[T]he use of Online Dating sites/communities was influenced by relationship status. Nearly 4% of Married folks [we surveyed] said they had used them (hopefully before they were married), 21% of Singles had and 36% of those in a Committed Relationship had spent some time on Match, OkayCupid and the like. Singles also reported using Classmates and YouTube at a higher rate than the average.”

FastCompany reporter Carol Reed points out that online dating has evolved with older adults, who are a big reason for the dominance of Match.com, the dominant service:

“Match.com … with its relaxed let’s-have-coffee-first approach, was, and is, the first choice of baby boomers, who seem more interested in long-term partners than slap-and-tickle buddies (not that there’s anything wrong with that). They’re also, it seems, willing to fill out the site’s time-consuming profiles.”

Read the article: http://bit.ly/1wuWSf6

Get the ebook: http://amzn.to/HSH0yD

 

* What? You don’t follow us? You’re not getting the advantages of a lovingly curated stream of 50+ marketing news articles, research summaries, insights and social listening? Let’s fix that right away: www.twitter.com/CreatingResults.

Mature Marketing Links of the Week – Resident Knows Best

October 20th, 2014 Posted by Beth Mickey

Happy Monday!  This week’s mature marketing stories that had people talking examine the benefits of resident surveys and content marketing. Have something to add?  Please be sure to incorporate in the comment section.

MOST CLICKED: Content marketing (also known as inbound marketing) is all the rage these days.  Why you ask?  Because it generates more leads and sales while increasing your ROI, by highlighting the value of your brand in a non-threatening way.    A recent article examined just how (and why) it is so effective.

First and foremost, the author defines inbound marketing as:

Inbound marketing strives to convert website visitors to customers through tactics that align content with customer interests, nurture these leads along conversion paths into customers, and delighting these customers so they become outspoken promoters of the company. 

Some statistics the article included:

*  80% of business decision makers prefer to receive insights about your brand through a series of pieces.
*  90% of consumers will find the information you incorporate within custom content more useful in their decision making process.
*  Brands that create 15 blog posts per month generate an average of 1,200 leads through that content.
An inbound marketing strategy can be incredibly effective in creating relevant, motivating pieces that inspire your prospects and reinforce why your service or community is THE BEST choice.  How do you approach your strategy?  We’d love to hear your thoughts or discuss how you can take a few easy steps that make your inbound marketing shine.

MOST SHARED: Never underestimate the power of a resident satisfaction survey.  At Creating Results we work closely with many Senior Living clients as they strive to not only attract new prospects, but work with happy residents to generate even more word-of-mouth marketing (and leads) for their communities.  It goes without saying that the more content the resident, the more enthusiastic the recommendation to friends.

A Senior Housing News recent article and webinar discussed just how powerful a resident satisfaction survey can be. The piece followed The Marshes at Skidaway Island, a CCRC in Georgia.  After struggling with resident satisfaction the community decided to do something about it by capturing insights from residents to help improve the community.  The result? Within the first year The Marshes reported positive increases in occupancy, sales and referrals.

Resident surveys can help identify not only areas for improvement, but where your community already is heads above the competition.  But a survey is only as effective as your approach to what happens next, what you do with those insights.

“You get out of a resident satisfaction survey what you put into it,” said Catherine Jenkins, vice president and director of operations management at Life Care Services. “I’m not talking about just the process of getting it distributed, but what you put into those results. … The commitment to put the hard work in [during] the years leading up to that survey is really critical.”

For The Marshes, they received feedback from residents that highlighted the need to make some improvements within their Health Center.  By implementing some changes to their overall approach they were able to move the satisfaction needle from 59% to 90%.  This satisfaction has led to more resident referrals and new members of the community.

Discover more about how you can approach satisfaction surveys when you read the full article.

Mature Marketing Links of the Week-Email and the Economy

October 13th, 2014 Posted by Beth Mickey

Happy Monday.  This week’s mature marketing links are brought to you by the letter “E”.  Let’s jump right in.  Have something to share or add?  Please leave in the comment section.

MOST CLICKED: E is for EMAIL

We continually work to remind our clients that email isn’t dead.  In fact, it continues to serve as an important avenue for engaging your boomer and senior target markets.  But an email list doesn’t grow on its own—there is a lot of care and nurturing that needs to go into it. Why is growth important you ask?  Each year current subscribers will leave you.  It’s sad but true.  You need to be able to account for the inevitable unsubscribes and bounces your list will receive by continually adding new subscribers.

A recent article focusing on tips for driving subscriptions through offline avenues generated a lot of interest this past week. The author focused on 8 things you can do in your everyday marketing efforts to generate more awareness of your email program.  These tips included:

*  Incorporating incentives for sign up

*  Using a paper sign up at special events

*  Using planned signage to promote

No matter which promotional avenue you pick, remember to highlight the value of your program. You need to give your prospects a reason to join (and engage with you).  Get more tips here when you read the full article.

How do you promote your eNews?  We’d love to hear your ideas.

RELATED: Don’t Let Your Email be Evil

MOST SHARED: E is for ECONOMY

The middle-class is still feeling the pinch, according to an article in The Dallas Morning News.  The author notes:

Now, five years after the recession ended, the economy appears to be improving, but middle-class consumers still haven’t bounced back.

In fact, a recent Federal Reserve report found that more than a third of American households say they’re worse off now than in 2008, and nearly 40 percent said they’re “just getting by” or struggling to do so.

As savings shrink and money remains tight, people continue to scale back. For the mature consumer, this means a focus on the essentials, like healthcare, and possibly putting off a desired home move.  For Continuing Care Retirement Communities (CCRCs), opportunities do exist to demonstrate how a move would be smart financially and allow for planning for the future, however this does require examination of how you are positioning your communities during the critical awareness and interest phases of the purchase process.

How do you address the changing economic tide?  We’d love to hear your thoughts.

Read the full article here.

Mature Marketing Links of the Week – Social Media Marketing Failure

October 6th, 2014 Posted by Erin Read

October: changing leaves, carving pumpkins, discovering you’re half-way through the bag of candy you bought for Halloween … Time to drop the peanut butter cup and read on for the top mature marketing links for the first week of this new month.

1. MOST SHARED: The “Ten Commandments for Social Media Failure.” Want to avoid socnet #failures? Take a look at the the ten ways marketers guarantee such problems, as described by Tania Yuki of Shareablee. Yuki’s excellent list ranges from treating social media marketing “as a magical ATM” to not measuring results to focusing on the number of followers/fans over more meaningful numbers such as conversions.

Here’s one sure-fire way to fail that we see all-too-frequently in 50+ marketing. As Yuki writes:

“Delegate social media only to the young — and then don’t support them

After all, if you can eat a pizza, you can make a pizza, so it makes sense to give social media over to the digital natives. Any one of them will do. They grew up on Facebook so they will know how to market your 100-year-old brand without any training, guidelines, or strategy. A no-rules policy inspires creativity and honesty, leading to gems like this.

And if you can’t hand social over to a Millennial, you can just make it someone’s second job and see what happens. How much time could social media require, anyway? It’s not like there’s over a billion people on it or anything.”

We’ve seen clients greatly improve results after investing in social media training for ALL team members, or at a minimum all leadership team members. Education leads to early buy-in, ongoing enthusiasm and more effective storytelling that drives to business goals.

Read the article in iMedia Connection: http://bit.ly/1n9KOz8

2. MOST CLICKED: This interactive chart shows traditional TV viewing is trending down for cohorts, but slightly up for baby boomers and seniors (seen in a gradual up-and-to-the-right slope). http://bit.ly/1vH0skZ

Chart - active users top social platforms facebook instagram twitter

Source: TechCrunch

We included that chart in a post last week on TV viewing and older consumers. A related link also got a high number of click-throughs: it was to a November 2013 post with stats on the use of buzzed-about marketing channels such as Instagram and Snapchat (http://bit.ly/1mLbypj)

This led us to wonder if the age gap on Instagram was narrowing at all. Instagram’s user base has grown to about 200 million. (Compare to Pinterest at 70 million and Facebook at 1.37 billion registered users, per Craig Smith at Digital Marketing Ramblings.)

In March of 2014, eMarketer reported that 69% of Instagram users were between 18 and 44. They project that 200,000 65+ seniors will use the service this year vs. 20+ million 18-34 year olds. And by 2016, that number of senior uses will grow to 800,000 while the number of 18-34 year old users will grow to 24+ million.

So while Instagram shouldn’t be overlooked and the service does continue to grow, it wouldn’t be our first choice for marketing to baby boomers and seniors.

3. Also of note:

* Even though 53% of boomers plan to leave New York City on retirement, by 2035 1 in 5 residents will be over 65, via The Epoch Times: http://bit.ly/1yHdKU7

* 8 simple ways you can use old fashioned Marketing Tactics to build your email marketing list, by Lorraine Ball: http://bit.ly/1sZrzL7

(If we may be so bold to add a #9: check out this case study and call Creating Results.)

* Stats That Prove Content Marketing Increases Lead Generation, Sales, and ROI, via SmartBug Media: http://bit.ly/1EksdFZ

TV viewing “remains solid among older age groups”

September 30th, 2014 Posted by Erin Read

MarketingCharts.com recently posted an analysis of Nielsen TV viewing data. The upshot? Traditional TV viewing is dropping substantially among US 18-24 year olds. Yet our favorite people — baby boomers and seniors — continue to log significant time in front of the boob tube.

The up & right-ward slope of the maroon and gray lines in this chart show a gradual increase in traditional TV viewing by older adults:

Chart - Traditional TV Viewing By Age - MarketingCharts.com

Source: MarketingCharts.com

Click here to see an interactive version of this chart.

MarketingCharts notes that, contrary to every other age group, 65+ seniors increased their TV time. And while 50-64 year olds decreased traditional TV hours for the first time since the third quarter of 2013, the losses in TV consumption by baby boomers and GenXers are smaller than the losses within the Millennial cohort.

Bruce Springsteen sang “57 Channels (And Nothin’ On).” Today’s marketers are choosing not just between 57+++ TV channels but between traditional broadcast and newer channels such as social and Internet.  Data from sources such as MarketingCharts and Nielsen can help those marketing to baby boomers and seniors make better choices.

 

READ the article: http://bit.ly/YGPW2b

RELATED:

* Boomers are more influenced by advertising than their Gen Y children http://bit.ly/1wUeTmL

* Use of buzzed-about Instagram and Snapchat vs. TV News, by age http://bit.ly/1mLbypj

* TV and newspapers trump social networks for influence on seniors http://bit.ly/14nGboA

 

Landing Pages and Boomers – Mature Marketing Links of the Week

September 29th, 2014 Posted by Beth Mickey

Happy Monday!  Let’s jump right into the mature marketing stories that had people talking, clicking and shaMature links of weekring this past week.  Have something to share?  Please be sure to add to the comment section.

MOST SHARED:  At Creating Results, we work with a number of clients on how to best leverage the web to convert visitors to prospects. Inevitably this includes a strategically designed and messaged landing page that includes a form for information capture.  For mature consumers, paying attention to each aspect of the layout and content is especially important, as they are concerned about privacy and need to have a particularly good reason to provide personal information. An article by Jacqueline Thomas recently explored what she outlined as 10 Essential Elements of a Landing Page.  

According to Thomas:

Unlike the rest of your website, a landing page operates like an island. It’s not connected to the rest of your website and it only has one focus: convince the visitor to do the one thing you want them to do.

Some of the elements identified include navigation (or lack of), layout (very important in our book too!), incorporating colors that convey a desired emotion and more.

Discover other elements here.

MOST CLICKED: AARP recently conducted a new survey of where boomers reside as well as some other fun facts, including:

*The largest concentration of boomer females call Delaware home
*Boomers in North Dakota are most likely to still be working
*Utah is home to the most married boomers
*Those that live in Washington, DC are most likely to not own a car

Knowing who your mature consumers are is half the battle, and will help you most effectively craft a message that will resonate with your target market.  After all, you wouldn’t necessarily want to tout a work-free life to folks in North Dakota since many are still on the job.

See the full survey here.

Content Theft, Copyrights and Common Courtesy

September 25th, 2014 Posted by Erin Read

Recently, one of our agency’s competitors sent me (and their entire email list) a message with the latest research into what boomers and seniors do/don’t want from websites. The research they shared? Creating Results’ Social, Silver Surfers study.

After a hearty laugh, our results-focused team decided to use this as a teaching opportunity.

Share and Share Alike …

Some say we’re moving to a “sharing economy,” sharing or re-using goods, services and resources. It certainly is easier than ever to share content and ideas.

A quick click on the tools below and you could share this post with your networks via email or via roughly 300 social networks. (Try it! We’d love it.) We can embed photos, video and audio (as we did on this blog two days ago). Copy/paste, scanning, screengrabs, save link as …

The ease with which we can share means marketers have to work harder to balance sharing and caring (about others’ intellectual property).

What Is “Content Theft”?

This post from Ann Marie van den Hurk offers a very clear description of content theft: http://bit.ly/1ungovw. For me, the key statement is:

“[It} is content theft when someone reads a blog post online and decides to share it. Except they curate it in a way where they copy and paste the entire post into their blog or website with a tiny print attribution with a link to the actual author. Done without asking the author if they would be OK with sharing their work. What is happening there is plagiarism where someone is taking someone else’s work or ideas and passing them off as one’s own.”

A real world example: Often organizations get excited about news coverage and copy/paste the entire article from that news outlet into their own site. This is content theft. It doesn’t matter if they include an attribution line or what size that attribution to the source is.

In this case, Creating Results didn’t get any attribution at all.

What Are the Rules for Attribution?

Because we’re marketers, we really do WANT people to share our content. It extends Creating Results’ brand reach and — we hope! — elevates the quality of marketing aimed at boomers and seniors.

For this reason our Social, Silver Surfers ebook included this note on page 6:

Source: "Social Silver Surfers 2013: An Updated Look at the Attitudes of Baby Boomers and Seniors Towards Websites and Social Media"

Because we’re marketers, not lawyers, we asked an expert about attribution.

Jodi McLane, Partner at Dingman, McInnes & McLane LLP, has extensive experience in trademark infringement litigation and in protecting intellectual property. She shared a link to a recent post by Corey Eridon of HubSpot that, as she puts it, “does a really good job of explaining internet etiquette regarding attribution:”  http://bit.ly/1DxlvMc

Jodi went on to say:

“It is important to provide proper attribution to an author, but giving attribution does not relieve you of the obligation to not copy someone’s work in a manner that would constitute copyright infringement. For example, it is one thing to quote a statistic from an article and give the proper attribution (probably ok), it is quite another to copy the entire article and re-post it on your site (even with proper attribution). Attribution does not cure the copyright infringement.

Not giving proper attribution and making it appear the work is your own is often called ‘Plagiarism.’ However, the legal liability associated with plagiarism is copyright infringement. If a work is copyright protected (such as original works of authorship), it does not matter whether they are published in print or online. If you copy them absent an exception it is copyright infringement.”

So what does that mean for marketers? Before you share someone else’s work ANYWHERE, look for and respect their copyrights. Creating Results’ Social, Silver Surfers research, for instance, is copyrighted. As is the executive summary our competitive agency picked up at a tradeshow before they incorporated our findings into their email.

Note that this blog post does not constitute legal advice. Please consult your organization’s lawyer with questions or reach out to experts like Jodi.

Lawsuit or Hissyfit?

How should Creating Results … or any organization … respond when copyright infringement is suspected?

A few years ago an outlet called Cooks Source took the work of blogger Monica Gaudio and printed it in their magazine. When challenged, the editor responded “the web is considered ‘public domain’ and you should be happy we just didn’t ‘lift’ your whole article and put someone else’s name on it!” [Editorial note: the author shouldn't be happy and the editor was just plain wrong.]

Linda Holmes of NPR wrote about what happened next in her post, “The Day The Internet Threw A Righteous Hissyfit About Copyright And Pie.”

Should we sue? Throw a hissyfit? Neither seems the Creating Results way. We chose to use this experience to hopefully educate clients, colleagues and those concerned.

Did we make the right choice?

Please sound off below. Share your experiences, comments or questions. We’ll address other sticky content sharing/intellectual property questions on this blog in the coming weeks.

Editor’s Note: As we want to keep the focus on the importance of proper attribution, we have removed an image seen in an earlier version of this post.

Mature Marketing Links of the Week – Landing Pages, Pictures

September 22nd, 2014 Posted by Erin Read

Monday morning and your to do list is already full. To help you get better results from your many efforts, let’s jump right into our top mature marketing links of the week, based on social media clicks/shares/+1s/etc.

1. MOST SHARED: A tie!

* Pictures are proven to motivate 50+ consumers. But how can you make an impact when email images get turned off? A case study from What Counts on a very clever effort for “A Place for Mom:” http://bit.ly/1v8jFM0

RELATED: Free ebook from Creating Results with insights into WHY photos are so powerful with older adults and tips for HOW to choose the images that will connect with baby boomers and seniors: http://bit.ly/50Photo

* The 10 essential elements of a landing page: http://bit.ly/1pokkEr. As writer Jacqueline Thomas notes,

“The only purpose of a landing page is to sell. Either you’re selling your design services or you’re selling your information for their email address. Your information comes in the form of newsletters, downloadable books, design freebies, pay-what-you-can fonts, courses, etc. … No matter how you use a landing page, the goal is to convert visitors into clients or community.”

At Creating Results, we love landing pages, especially when deployed as part of strategic integrated programs such as this one for CCRC Westminster at Lake Ridge. You’ll note that a critical element to its success was photography, #4 on Thomas’ list. This campaign featured original, authentic and engaging images of community residents (including a four-legged one!).

Photo - CCRC landing pages

Offline direct mail and print ads drove to online landing pages in a CCRC (continuing care retirement community) campaign that boosted leads 267%.

(Click here or on the photo to read the case study.)

 

2. MOST CLICKED: Why don’t advertisers value seniors? Public radio’s Marketplace tapped CreatingResults for an answer: http://bit.ly/1mp7xGU

 

And here are two articles that should have gotten more attention. They include new statistics to inform your mature marketing decisions:

CHART - The seven leading causes of death among elders* Snapshots of US 65+ seniors. Ronni Bennett calls out a few stats from the new Census Bureau report, “65+ in the United States.” Her post shares a few report highlights on life expectancy, income, and the seven leading causes of death among elders:

“Death rates declined for the 65-plus populations (other age groups too) between 2000 and 2010 but it was the same old, same old diseases – heart disease and cancer being the top two – that carried elders away.”

Read more: http://bit.ly/1uSee5U

* What does the “Boomer Nation” look like? Thanks to the AARP, you can explore an interactive, state-by-state snapshot.

It includes top 10s for the highest concentration of baby boomers, where the richest boomers live and where Spanish-speaking boomers are most likely to live. Haga clic aqui para aprender mas: http://bit.ly/1uYKsLL

 

Feliz Lunes! Happy Monday! (Whatever language you prefer, please share your comments and thoughts below. Gracias!)

Mature Marketing Links of the Week – Seniors Unhappy With, Ignored by Advertising

September 15th, 2014 Posted by Erin Read

Monday, Monday … you sneaky thing. Already a new week is upon us and, with it, our recap of the articles and links that got the most attention from marketing and advertising professionals this past week.

With ads like this, is it any wonder seniors don't feel they're represented with respect?

With ads like this, is it any wonder seniors don’t feel they’re represented with respect?

1. MOST CLICKED: Seniors say they don’t like the way they’re portrayed in advertising. It’s either “too good to be true” or “sick and feeble.” As MediaPost reported (http://bit.ly/YLcbVA),

“A mere 47% said they felt that seniors are portrayed ‘as people to be respected.’ It probably doesn’t help that most find ads targeting them uninformative, with just 31% finding value in ads for senior living and financial services, and 29% for ads pharmaceuticals.”

Wow. As sometimes happens, even more insights are found in the comments on this article. Richard Hammer wrote:

“I am the target audience that these advertisers are trying to reach. I am here to tell you that I am totally turned off by the ads targeted towards my age group. And that’s because of the three categories that these ads fall into. Senior Living. Pharmaceutical. Financial Services. Old age. Sickness. Poverty. Actors portraying stereotypes that belong to my fathers generation, not to mine. I am in my 60s and things still go better with Coke, The Pillsbury dough boy pops out of my oven on occasion. And Mr. Clean is alive and well and living under my sink. What I wouldn’t give to see a spot for Coca Cola with 60 somethings playing frisbee on the beach.”

Coincidentally, public radio’s Marketplace called Creating Results on Friday to ask why it is that Coca-Cola and other big companies don’t do just that.

Here’s what our team had to say about advertising to seniors on Friday’s show:

What do YOU think? Why would advertisers NOT want to reach viewers, simply because they’re in their 60s? Share your comments below.

2. Also of note:

* Almost half (48%) of older adults participating in the 2014 United States of Aging survey said they would move to an assisted living community if they could no longer care for themselves. Read more via LeadingAge: http://bit.ly/1uOvtTM

* Maine Rallies for Totally New Approach to Senior Care. The package of proposals tries to strengthen aging in place resources that go beyond traditional senior housing options like assisted living. Read more via Senior Housing News: http://bit.ly/1y6fVAu

* 13 Writing Rules from the terrifically-talented Ann Handley of MarketingProfs: http://bit.ly/1uA0s7y

 

All About Housing: Mature Marketing Links of the Week

September 8th, 2014 Posted by Beth Mickey

Happy Monday!  Let’s jump right into those mature marketing stories of the week that had people talking around the water coolers.  This week’s focus is all about housing.  Have something to add?  Please note in the comments below, we’d love to hear from you.

MOST CLICKED: Don’t blame the Millennials for housing market woes.  At least that is the sentiment in a recent article in Market Watch.  The article is based on new housing purchase insights released by Zillow.  Many homeowners are suffering from negative equity issues, which are preventing them from putting their current homes on the market.  This is especially the case for Millennials and Gen Xers, with the number of underwater homes for these cohorts nearly twice that of baby boomers.  For Sale

While boomers may not be as impacted directly by negative equity, they are still feeling the effects. Those boomers who want to sell homes and downsize are unable to find buyers, as Gen Xers and Millennials aren’t in a position to want to upgrade to a larger home.

According to the director of UCLA’s Richard S. Ziman Center for Real Estate:

Many millennials don’t have the resources to compete with cash offers or engage in bidding wars with older buyers, he adds. “The reality is, negative equity is part of the new normal, and finding creative solutions to keeping homes affordable, available and accessible to this generation will be critical,” he says.

There is good news, however, the article concludes: as home prices rise the negative equity issues decrease.

Read the full article here.

MOST SHARED:  An article referencing the recent report “Housing America’s Older Adults – Meeting the Needs of an Aging Population” discussed the current housing shortage for seniors. Specifically, that there are not enough affordable options that offer senior-friendly accessibility and are well-located.

Some points of the report included:

*  1/3 of boomers and beyond spend more than 30% of their income on housing, which could make it difficult if additional care/support is required as they age.

Younger baby boomers, those now in their 50s, are of special concern, since they’re less financially secure than generations past — thanks to the Great Recession, according to the report. This is a group of people with lower incomes, wealth and home ownership rates, who may struggle to afford housing and long-term care in retirement.

*Most seniors’ homes don’t have accessibility features to help them as they age, including no-step entries and single-floor living.  This makes either substantial renovations or moving required.

*For many seniors there is a  lack of amenities within close proximity to their current homes.  This is especially important as people become unable to drive and require easy access to nearby health-care and opportunities to remain socially active.

Click here to read the full article.

 


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