It was the prospect of baby boomers retiring en masse to Florida that fueled the Florida real estate boom, and it now looks as though the actual arrival of thousands of baby boomer retirees over the next few years will be what it takes to help the Tampa Bay real estate market rebound from its current doldrums.
Speaking at a forum sponsored by the University of South Florida's Institute for Public Policy and Leadership, Brad Edmondson, the former editor of American Demographics magazine, said there has been some decline in the rate of population growth in Southwest Florida as evidenced by the fact that school enrollment is slightly below forecasted levels.
Edmondson predicted that Southwest Florida and Tampa Bay populations will not decline as some as predicted. Once the current housing correction passes, the region will grow again thanks to an influx of those new baby boomer retirees.
"The supply of retirees for the Tampa Bay, Florida area is about to grow explosively," Edmondson said. Edmonson believes that even though only 20% of Americans aged 60 and older move across state lines when they retire the Tampa Bay area will get more than its share. "The number of people entering their 60s will grow 5 times as fast as it did during the 1990s," Edmondson said. "This is an age group that thinks Tampa Bay is a very attractive place to live."
While not all forum participants were quite as positive, one area developer and home builder said he was sure that Florida will going to continue to grow.
If you're interested in buying Tampa Bay real estate, you may want to buy now before the big surge of baby boomer retirees starts driving prices back up again. For more information and assistance in achieving your retirement real estate goals in Tampa Bay, Florida, please contact me at (813) 263-6806 or visit my Tampa Bay real estate website today. You may also just E-mail me. I'd be happy to be of assistance to you.
