Florida’s allure needs little introduction. It’s got a collection of beaches in the South Florida area, plenty of attractions to explore and a climate that has earned it the nickname of “The Sunshine State”. These qualities have long contributed towards the appeal and demand for Palm Beach real estate and Florida’s abundance of beachfront properties.
This appeal and demand has dropped considerably ever since Palm Beach and pretty much all of South Florida saw its home values drop from the buying boom of yesteryear that made the cost of living in Florida so expensive. As most people are well aware however, some intrepid investors and first time buyers have indeed been purchasing homes and condos due to the low prices which has caused sporadic rises in home sales throughout the year.
Florida realtors have also been keeping an eye on the baby boomer generation being that a lot of them are now at or near the age of retirement. Coupled with the summer season and low prices for beachfront condos, many of them are setting their own sights on Florida which has some predicting Florida could once again become the retirement apex it was once was before the high cost of living drove retirees out. It’s not every day someone is able to find a beach condo unit normally valued at more than $50,000 for less then $25,000 as is occasionally the case in the current market.
As beneficial as it would be to have additional funds going towards buying up the existing glut of South Florida property inventory, a surge in baby boomers could conflict with the continual influx of young immigrants as public services are spread out too much. By the time such a problem presents itself, there will likely already be a solution in place to ensure it doesn’t become a major headache.
0 Responses to “Palm Beach and the Baby Boomer”